Europe 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 Europe homomorphic encryption market is the growing data security concerns in all the data-sensitive organizations across the Europe. The Europe homomorphic encryption market is anticipated to witness a noteworthy growth owing to a huge number of financial & data processing firms choosing solution to secure the data transit or storing in cloud platform. Also, with rising adoption of cloud platform in businesses models, there is an increase in the demand for fully homomorphic encryption to secure cloud data. Also, the growing IT & telecom sector, particularly in Europe, is likely to boost the Europe homomorphic encryption market. Additionally, the growing trend of digital transformation is expected to boost the adoption of homomorphic encryption solutions by retailers across Europe region.
Furthermore, in case of COVID-19, Europe is highly affected specially the UK and Russia. Also, in other European countries such as Germany, France, and Spain, good number of COVID-19 cases are observed which had major impact the region’s economy and financial structure. Though several geographies are gradually ending lockdowns which highlighted the importance of digitalization. The businesses, hospitals and other government services across Europe have started to adopt digital platforms having assured security features. Nevertheless, the financial industry services across Europe are adopting advanced encryption technologies to offer customer secured e-services. The adoption of homomorphic encryption in different industries is expected to escalate the Europe homomorphic encryption market. The way of business operations changed and diverted towards cloud platform which resulted demand for advanced security solutions which is anticipated to drive the Europe homomorphic encryption market. The companies as well as government agencies also adopted the digital solutions which resulted in growth of homomorphic encryption solution. For instance, in May, 2020, The National Health Service (NHS) introduced Bluetooth-enabled COVID-19 contact-tracing smartphone app. The app is developed using homomorphic encryption techniques used for the contact tracing application. Such development in the solution offering is creating lucrative opportunity for the Europe homomorphic encryption market.
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Market Overview and Dynamics
The Europe homomorphic encryption market is expected to grow from US$ 31.99 million in 2019 to US$ 66.50 million by 2027; it is estimated to grow at a CAGR of 9.9 % from 2020 to 2027. Unification of homomorphic encryption with advanced technologies is expected to escalate the Europe 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 Europe 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 Europe region.
Key Market Segments
In terms of type, the fully segment accounted for the largest share of the Europe homomorphic encryption market in 2019. In terms of application, the BFSI segment held a larger market share of the Europe 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 Europe 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 Cosmian; CryptoExperts SAS; Google LLC; IBM Corporation; Inpher, Inc.; Microsoft Corporation; Netskope, Inc.; Thales Group; ZAMA.
Reasons to buy report
- To understand the Europe homomorphic encryption market landscape and identify market segments that are most likely to guarantee a strong return
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- Efficiently plan M&A and partnership deals in Europe 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 Europe homomorphic encryption market
- Obtain market revenue forecast for market by various segments from 2020-2027 in Europe region.
Europe Homomorphic Encryption Market Segmentation
Europe Homomorphic Encryption Market – By Type
- Partially
- Somewhat
- Fully
Europe Homomorphic Encryption Market - By Application
- BFSI
- Healthcare
- Government
- Other
Europe Homomorphic Encryption Market - By Country
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Europe Homomorphic Encryption Market - Company Profiles
- Cosmian
- CryptoExperts SAS
- Google LLC
- IBM Corporation
- Inpher, Inc.
- Microsoft Corporation
- Netskope, Inc.
- Thales Group
- ZAMA
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. Europe Homomorphic Encryption Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Homomorphic Encryption Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in Need for Data Security
5.1.2 Growth of Data Analytics
5.2 Market Restraints
5.2.1 Issues Related to Homomorphic Encryption Systems
5.3 Market Opportunities
5.3.1 Rising Deployment of Cloud Computing
5.4 Future Trends
5.4.1 Unification with Advanced Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Homomorphic Encryption Market – Europe Analysis
6.1 Homomorphic Encryption Market: Europe Overview
6.2 Europe Homomorphic Encryption Market – Revenue and Forecast to 2027 (USD Million)
6.3 Market Positioning – Market Players Ranking
7. Europe Homomorphic Encryption Market Analysis – By Type
7.1.1 Overview
7.1.2 Europe 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. Europe Homomorphic Encryption Market Analysis – By Application
8.1.1 Overview
8.1.2 Europe 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. Europe Homomorphic Encryption Market – Country Analysis
9.1 Overview
9.1.1 Europe: Homomorphic Encryption Market, by Key Country
9.1.1.1 Germany: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 Germany: Homomorphic Encryption Market, by Type
9.1.1.1.2 Germany: Homomorphic Encryption Market, by Application
9.1.1.2 France: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 France: Homomorphic Encryption Market, by Type
9.1.1.2.2 France: Homomorphic Encryption Market, by Application
9.1.1.3 Italy: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Italy: Homomorphic Encryption Market, by Type
9.1.1.3.2 Italy: Homomorphic Encryption Market, by Application
9.1.1.4 UK: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.4.1 UK: Homomorphic Encryption Market, by Type
9.1.1.4.2 UK: Homomorphic Encryption Market, by Application
9.1.1.5 Russia: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.5.1 Russia: Homomorphic Encryption Market, by Type
9.1.1.5.2 Russia: Homomorphic Encryption Market, by Application
9.1.1.6 Rest of Europe: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.6.1 Rest of Europe: Homomorphic Encryption Market, by Type
9.1.1.6.2 Rest of Europe: Homomorphic Encryption Market, by Application
10. Impact of COVID-19 Pandemic On Europe Homomorphic Encryption Market
10.1 Europe: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
12. Company Profiles
12.1 Cosmian
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 CryptoExperts SAS
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 Inpher, Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 ZAMA
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 Microsoft 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 Netskope, Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Financial Overview
12.6.4 SWOT Analysis
12.6.5 Key Developments
12.7 Thales Group
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 IBM Corporation
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Google LLC
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of Terms
LIST OF TABLES
Table 1. Europe Homomorphic Encryption Market – Revenue, and Forecast to 2027 (USD Million)
Table 2. Germany: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 3. Germany: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 4. France: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 5. France: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 6. Italy: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 7. Italy: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 8. UK: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 9. UK: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 10. Russia: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 11. Russia: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 12. Rest of Europe: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 13. Rest of Europe: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 14. Glossary of Term: Europe Homomorphic Encryption Market
LIST OF FIGURES
Figure 1. Europe Homomorphic Encryption Market Segmentation
Figure 2. Europe Homomorphic Encryption Market Segmentation – By Country
Figure 3. Europe Homomorphic Encryption Market Overview
Figure 4. Europe Homomorphic Encryption Market –Type
Figure 5. Europe Homomorphic Encryption Market – Application
Figure 6. Europe Homomorphic Encryption Market – Country
Figure 7. Europe – PEST Analysis
Figure 8. Europe Homomorphic Encryption Market – Ecosystem Analysis
Figure 9. Europe Homomorphic Encryption Market: Impact Analysis of Drivers and Restraints
Figure 10. Europe: Homomorphic Encryption Market – Revenue and Forecast to 2027 (USD Million)
Figure 11. Europe Homomorphic Encryption Market Breakdown, by Type (2019 and 2027)
Figure 12. Europe Fully: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 13. Europe Somewhat: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 14. Europe Partially: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 15. Europe Homomorphic Encryption Market Breakdown, by Application (2019 and 2027)
Figure 16. Europe BFSI: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 17. Europe Healthcare: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 18. Europe Government: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 19. Europe Others: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 20. Europe: Homomorphic Encryption Market Revenue Share, By Key Country (2019 and 2027)
Figure 21. Germany: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. France: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Italy: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. UK: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Russia: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Rest of Europe: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. Impact of COVID-19 Pandemic in Europe Country Markets
Some of the leading companies are:
- Cosmian
- CryptoExperts SAS
- Google LLC
- IBM Corporation
- Inpher, Inc.
- Microsoft Corporation
- Netskope, Inc.
- Thales Group
- ZAMA
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