South America Homomorphic Encryption Market

Market Introduction

Homomorphic encryption solutions save financial and personally identifiable information (PII) data. The main feature of technology is it offers security for the data by keeping it encrypted at the time of processing and manipulation. In the era of digitalization data plays significant role, it not only requires analytics tools but also require security tools. The homomorphic encryption is one of the privacy-enhancing technologies (PETs). The key factor attributed to the growth of the SAM homomorphic encryption market is the growing data security concerns in all the data-sensitive organizations across the SAM.  Several economies in the region started forming their cybersecurity strategies. For instance, in April 2017, Chile published its cybersecurity strategy and established a broad view of cybersecurity risks to create a comprehensive framework. Rise in severe regulatory compliances is one of the significant factors likely to drive the homomorphic encryption market in SAM. As the homomorphic encryption technology delivers proactive security measures for preventing data breaches in all verticals, the market is likely to gain traction in various developing countries of SAM. Also other factors such as integration with advanced technologies is expected to drive the SAM homomorphic encryption market.

Furthermore, in case of COVID-19, SAM is highly affected specially the Brazil.  In SAM region countries such as Brazil and Argentina are transforming their business operations in digital platform through cloud computation to face the challenges emerged due to COVID-19. The social isolation boost- ecommerce in SAM region similarly it creating considerable growth in all business sectors. The adoption ration of digital technologies such as Artificial Intelligence, Automation, cloud platform and other is low in region which resulted in the slower growth of market in the region. The COVID-19 just propelled the digital technologies importance in region which created strong opportunity for the market to enhance its presence. The adoption and penetration of advanced encryption technologies is started to increase in countries such as Brazil and Argentina which is expected to drive the SAM homomorphic encryption market during forecast period. COVID-19 just enhanced the importance for digital technologies and supportive tools for the security and reality. Major companies such as IBM is also investing in the region owing to the potential available for advanced technologies. For instance, Banco Bradesco, S.A., a Brazilian financial institution and IBM Research formed partnership to integrate techniques such as homomorphic encryption to banking data. COVID-19 is just provided the push for the region to adopt new digital technologies and supporting tools to enhance services for end users.

South America Homomorphic Encryption Strategic Insights

Strategic insights for the South America Homomorphic Encryption provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South America Homomorphic Encryption Report Scope

South America Homomorphic Encryption Regional Insights

The geographic scope of the South America Homomorphic Encryption refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The SAM homomorphic encryption market is expected to grow from US$ 3.74 million in 2019 to US$ 6.16 million by 2027; it is estimated to grow at a CAGR of 6.8 % from 2020 to 2027. Incorporation of homomorphic encryption with advanced technologies is expected to drive the SAM homomorphic encryption market. Increasing computing capabilities of systems and ever increasing amount of data generation are anticipated to flourish the adoption of artificial intelligence and machine learning over the coming years. Artificial intelligence and machine learning require tremendous amount of data to thrive on in order to formulate results and conclusion. The data required by AI and ML needs to be decrypted first in order to process it. With the rising concerns over data privacy and data breach and increasing government initiatives across SAM region for securing consumer data, the homomorphic encryption technology is anticipated to play a vital role. Integration of homomorphic encryption in artificial intelligence and machine learning is anticipated to address the issue of data privacy. Thus, in order to churn resourceful insights while keeping privacy concern in check, the integration of homomorphic encryption technology and artificial intelligence & machine learning is anticipated to pave a way in future for SAM region.  

Key Market Segments

In terms of type, the fully segment accounted for the largest share of the SAM homomorphic encryption market in 2019. In terms of application, the BFSI segment held a larger market share of the SAM homomorphic encryption market in 2019.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the SAM homomorphic encryption market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Google LLC; IBM Corporation; Inpher, Inc.; Microsoft Corporation; Netskope, Inc.; Thales Group. 

Reasons to buy report

• To understand the SAM homomorphic encryption market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for SAM homomorphic encryption market
• Efficiently plan M&A and partnership deals in SAM homomorphic encryption market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form SAM homomorphic encryption market
• Obtain market revenue forecast for market by various segments from 2020-2027 in SAM region.

SAM Homomorphic Encryption Market Segmentation

SAM Homomorphic Encryption Market – By Type

• Partially
• Somewhat
• Fully

SAM Homomorphic Encryption Market - By

Application

• BFSI
• Healthcare
• Government
• Other

SAM Homomorphic Encryption Market - By Country

• Brazil
• Argentina
• Rest of SAM      

SAM Homomorphic Encryption Market - Company Profiles

• Google LLC
• IBM Corporation
• Inpher, Inc.
• Microsoft Corporation
• Netskope, Inc.
• Thales Group