Asia Pacific 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)
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 APAC homomorphic encryption market is the growing data security concerns in all the data-sensitive organizations across the APAC. Increased concern for data security and data encryption at cloud platform, are some of the major factors anticipated to fuel the demand for homomorphic encryption in APAC region. Moreover, the APAC region is expected to witness the highest CAGR during the forecast period. The homomorphic encryption market in APAC is gaining prominence, as the homomorphic encryption solution offers proactive security measures to prevent data breaches. Moreover, the rising awareness among data processing companies regarding homomorphic technology is supportive factor for the APAC homomorphic encryption market growth. Also, the growing IT & telecom sector, particularly in developing economies of the region, is likely to boost the APAC homomorphic encryption market.
Furthermore, in case of COVID-19, APAC is highly affected specially the China and India. The strict lockdown initiated by the China and after that a whole APAC region has strong impact on the market. Offices, industries, schools and other are shut downed for certain period which hindered market growth. Although, market regained its momentum post lockdown as digitalization ratio increased in all region to perform business remotely which has affected the APAC homomorphic encryption market positively. APAC region have emerging countries such as China and India which are shifting their business models towards the digitalization. Countries such as Japan and South Korea have strong penetration of advanced technology such as AI, IoT and automation. Software industry is enchaining the market presence with solution such as block chains, cloud computing and others. Homomorphic encryption solution becomes the emerging trend in the digital market to enhance the security level for the businesses by securing the data transmission. China is holding the leading position in homomorphic encryption market as business are adopting the digital technologies. For instance, according to the Entrust Corporation Encryption Trends Study almost 60% are continuously adopting encryption strategy, while 72% stated that customer personal information protection is main objective behind encryption adoption strategy. Rising adoption of encryption techniques for more safety of data is expected to drive the APAC homomorphic encryption market even during the pandemic.
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Market Overview and Dynamics
The APAC homomorphic encryption market is expected to grow from US$ 26.17 million in 2019 to US$ 59.85 million by 2027; it is estimated to grow at a CAGR of 11.2 % from 2020 to 2027. Escalation in need for data security is expected to escalate the APAC homomorphic encryption market. Escalation in number of cyberattacks across the APAC region has become a vital concern for organizations. As most digital data is shifted through the internet and advanced networks, the danger of data vulnerability has increased rapidly. The government, financial services, and IT sector are some of the prominent industries vulnerable to cyber threats. The industries mentioned above face tough challenges concerning their data security and vulnerability as they have to deal with storing, migrating, shifting, and outsourcing their user data on open source platforms many times. Therefore, in order to mitigate risk regarding data security while at rest, transmitting, or computing, the homomorphic encryption is gaining traction in various industries across APAC region. The utilization of homomorphic encryption technology is enabling organizations to maintain a robust standard of data security without compromising business operations or application functions. Moreover, owing to increasing concerns over the collection, misuse, transfer or handling of data by businesses and institutions, the governments across the APAC are strongly emphasizing on consumer data protection, which is further propelling the adoption of homomorphic encryption technology. Thus, growing concern over data security and increasing need for consumer data protection across the APAC are expected to propel the APAC homomorphic encryption market during the forecast period.
Key Market Segments
In terms of type, the fully segment accounted for the largest share of the APAC homomorphic encryption market in 2019. In terms of application, the BFSI segment held a larger market share of the APAC 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 APAC 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 APAC homomorphic encryption market landscape and identify market segments that are most likely to guarantee a strong return
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- Obtain market revenue forecast for market by various segments from 2020-2027 in APAC region.
APAC Homomorphic Encryption Market Segmentation
APAC Homomorphic Encryption Market – By Type
- Partially
- Somewhat
- Fully
APAC Homomorphic Encryption Market - By Application
- BFSI
- Healthcare
- Government
- Other
APAC Homomorphic Encryption Market - By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Homomorphic Encryption Market - Company Profiles
- Google LLC
- IBM Corporation
- Inpher, Inc.
- Microsoft Corporation
- Netskope, Inc.
- Thales Group
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Homomorphic Encryption Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Homomorphic Encryption Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Escalation in Need for Data Security
5.1.2 Arrival of Data Analytics
5.2 Market Restraints
5.2.1 Complications of Homomorphic Encryption Systems
5.3 Market Opportunities
5.3.1 Mounting Deployment of Cloud Computing
5.4 Future Trends
5.4.1 Amalgamation with Advanced Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Homomorphic Encryption Market – APAC Analysis
6.1 Homomorphic Encryption Market: APAC Overview
6.2 APAC Homomorphic Encryption Market – Revenue and Forecast to 2027 (USD Million)
6.3 Market Positioning – Market Players Ranking
7. APAC Homomorphic Encryption Market Analysis – By Type
7.1.1 Overview
7.1.2 APAC Homomorphic Encryption Market Breakdown, by Type, 2019 & 2027
7.2 Fully
7.2.1 Overview
7.2.2 Fully: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
7.3 Somewhat
7.3.1 Overview
7.3.2 Somewhat: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Partially
7.4.1 Overview
7.4.2 Partially: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
8. APAC Homomorphic Encryption Market Analysis – By Application
8.1.1 Overview
8.1.2 APAC Homomorphic Encryption Market Breakdown, by Application, 2019 & 2027
8.2 BFSI
8.2.1 Overview
8.2.2 BFSI: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
8.3 Healthcare
8.3.1 Overview
8.3.2 Healthcare: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Government
8.4.1 Overview
8.4.2 Government: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
9. APAC Homomorphic Encryption Market – Country Analysis
9.1 Overview
9.1.1 APAC: Homomorphic Encryption Market, by Key Country
9.1.1.1 China: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 China: Homomorphic Encryption Market, by Type
9.1.1.1.2 China: Homomorphic Encryption Market, by Application
9.1.1.2 India: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 India: Homomorphic Encryption Market, by Type
9.1.1.2.2 India: Homomorphic Encryption Market, by Application
9.1.1.3 Japan: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Japan: Homomorphic Encryption Market, by Type
9.1.1.3.2 Japan: Homomorphic Encryption Market, by Application
9.1.1.4 South Korea: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.4.1 South Korea: Homomorphic Encryption Market, by Type
9.1.1.4.2 South Korea: Homomorphic Encryption Market, by Application
9.1.1.5 Australia: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.5.1 Australia: Homomorphic Encryption Market, by Type
9.1.1.5.2 Australia: Homomorphic Encryption Market, by Application
9.1.1.6 Rest of APAC: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.6.1 Rest of APAC: Homomorphic Encryption Market, by Type
9.1.1.6.2 Rest of APAC: Homomorphic Encryption Market, by Application
10. Impact of COVID-19 Pandemic On APAC Homomorphic Encryption Market
10.1 APAC: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
12. Company Profiles
12.1 Inpher, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Microsoft Corporation
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Netskope, Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Financial Overview
12.3.4 SWOT Analysis
12.3.5 Key Developments
12.4 Thales Group
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 IBM Corporation
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Google LLC
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. APAC Homomorphic Encryption Market – Revenue, and Forecast to 2027 (USD Million)
Table 2. China: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 3. China: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 4. India: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 5. India: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 6. Japan: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 7. Japan: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 8. South Korea: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 9. South Korea: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 10. Australia: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 11. Australia: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 12. Rest of APAC: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 13. Rest of APAC: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 14. Glossary of Term: APAC Homomorphic Encryption Market
LIST OF FIGURES
Figure 1. APAC Homomorphic Encryption Market Segmentation
Figure 2. APAC Homomorphic Encryption Market Segmentation – By Country
Figure 3. APAC Homomorphic Encryption Market Overview
Figure 4. APAC Homomorphic Encryption Market –Type
Figure 5. APAC Homomorphic Encryption Market – Application
Figure 6. APAC Homomorphic Encryption Market – Country
Figure 7. APAC – PEST Analysis
Figure 8. APAC Homomorphic Encryption Market – Ecosystem Analysis
Figure 9. APAC Homomorphic Encryption Market: Impact Analysis of Drivers and Restraints
Figure 10. APAC: Homomorphic Encryption Market – Revenue and Forecast to 2027 (USD Million)
Figure 11. APAC Homomorphic Encryption Market Breakdown, by Type (2019 and 2027)
Figure 12. APAC Fully: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 13. APAC Somewhat: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 14. APAC Partially: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 15. APAC Homomorphic Encryption Market Breakdown, by Application (2019 and 2027)
Figure 16. APAC BFSI: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 17. APAC Healthcare: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 18. APAC Government: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 19. APAC Others: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 20. APAC: Homomorphic Encryption Market Revenue Share, By Key Country (2019 and 2027)
Figure 21. China: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. India: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Japan: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. South Korea: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Australia: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Rest of APAC: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Impact of COVID-19 Pandemic in APAC Country Markets
Some of the leading companies are:
- Google LLC
- IBM Corporation
- Inpher, Inc.
- Microsoft Corporation
- Netskope, Inc.
- Thales Group
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