Report : South America Homomorphic Encryption Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type (Partially, Somewhat, and Fully) and Application (BFSI, Healthcare, Government, and Others)

BFSI Segment to Dominate SAM Homomorphic Encryption Market during 2019–2027.

According to a new market research study on “SAM Homomorphic Encryption Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application,” is expected to reach US$ 6.16 million by 2027 from US$ 3.74 million in 2019. The market is estimated to grow at a CAGR of 6.8 % from 2020 to 2027. The report provides trends prevailing in the SAM homomorphic encryption market along with the drivers and restraints pertaining to the market growth. Mounting need for data security and escalation in deployment of cloud computing are the major factor driving the growth of the SAM homomorphic encryption market. However, difficulties related to homomorphic encryption systems hinder the growth of SAM homomorphic encryption market.

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.

The SAM homomorphic encryption market is segmented into type, application, and country. Based on type, the market is further segmented into partially, somewhat, and fully homomorphic solutions. The fully segment dominated the SAM homomorphic encryption market in 2019 and partially segment is expected to be fastest growing segment during forecast period. Based on application, the SAM homomorphic encryption market is bifurcated into BFSI, healthcare, government, and others. The BFSI segment dominated the SAM homomorphic encryption market in 2019 and healthcare segment is expected to be fastest growing segment during forecast period.

Google LLC; IBM Corporation; Inpher, Inc.; Microsoft Corporation; Netskope, Inc.; Thales Group are among the leading companies in the SAM homomorphic encryption market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, Netskope Inc. raised US $168.7 million in Series F funding round and the investment was led by Lightspeed Venture Partners.     

The report segments the SAM Homomorphic Encryption Market as follows:

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
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