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Middle East and Africa 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)

Code: TIPRE00018165 | Pages: 97 | Industry: Technology, Media and Telecommunications | Date: Jan 2021
Covid

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 MEA homomorphic encryption market is the growing data security concerns in all the data-sensitive organizations across the MEA. The MEA 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 developing economies of the MEA region, is likely to boost the MEA homomorphic encryption market. Additionally, in the MEA region, the growing trend of digital transformation is expected to boost the adoption of homomorphic encryption solutions by retailers. 

Furthermore, in case of COVID-19, MEA is highly affected specially the Iran. In MEA the adoption of digital technologies has comparatively low owing which the market has low penetration in the region. Countries such South Africa, UAE and Saudi Arabia are focusing towards the industrialization as well as digitalization which creates opportunity for the market. The COVID-19 has somehow positive impact in the region as awareness about the such encryption method and digital technologies is increased which has escalated the MEA homomorphic encryption market. The businesses, hospitals and other government services across MEA region started to adopt digital platforms having assured security features. Nevertheless, the financial industry services in MEA region are adopting advanced encryption technologies to offer customer secured e-services. The digitalization projects across MEA region witnessed declined growth at the start of pandemic owing to financial restriction, but after lockdown the importance has been increased with significant rate. The COVID-19 just reaped the benefits of long-term initiatives formed for digitalization. For instance, in UAE strengthen their long-term strategies such as Artificial Intelligence Strategy 2031, Block chain Strategy 2021 and National Innovation Strategy by initiating groundwork for COVID-19 digital response. Such kind of initiative has been evolved due to COVID-19 situation as impotence for digital technologies is increased the region, which is expected to drive the MEA homomorphic encryption market.




Market Overview and Dynamics

The MEA homomorphic encryption market is expected to grow from US$ 8.24 million in 2019 to US$ 14.78 million by 2027; it is estimated to grow at a CAGR of 7.9 % from 2020 to 2027.  Escalation in the use of data analytics is expected to accelerate the MEA homomorphic encryption market. As the economy is moving from manufacturing-based economy to knowledge and technology based economy, analytics is projected to play a vital role. Owing to rising advancements in technology in last two decades, the amount of data generated is enormous. Thus, in order to improve the overall product offerings, companies are strongly relaying on data-driven decisions. Organizations across the MEA region from different industrial verticals are collaborating and partnering by exchanging resources to strong-arm one and another. However, in order to abide by the privacy and data regulations, organizations are obliged not to disclose sensitive data. Further, in some scenarios, organizations do not intend to share certain vital details from data while collaborating with other organization. Homomorphic encryption enables organizations to share and compute data by keeping the vital and sensitive details encrypted. Therefore, mounting importance of data analytics and increasing collaborations and partnerships by organizations for product development and research across the MEA region are projected to drive the MEA homomorphic encryption market. 

Key Market Segments

In terms of type, the fully segment accounted for the largest share of the MEA homomorphic encryption market in 2019. In terms of application, the BFSI segment held a larger market share of the MEA 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 MEA 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 MEA 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 MEA homomorphic encryption market
  • Efficiently plan M&A and partnership deals in MEA 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 MEA homomorphic encryption market
  • Obtain market revenue forecast for market by various segments from 2020-2027 in MEA region.

MEA Homomorphic Encryption Market Segmentation

MEA Homomorphic Encryption Market – By Type

  • Partially
  • Somewhat
  • Fully

MEA Homomorphic Encryption Market - By Application

  • BFSI
  • Healthcare
  • Government
  • Other

MEA Homomorphic Encryption Market - By Country

  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA   

MEA 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.           MEA Homomorphic Encryption Market Landscape

4.1         Market Overview

4.2         MEA PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           MEA Homomorphic Encryption Market – Key Market Dynamics

5.1         Market Drivers

5.1.1        Upsurge in the Need for Data Security

5.1.2        Escalation in the use of Data Analytics

5.2         Market Restraints

5.2.1        Homomorphic Encryption System Complexities

5.3         Market Opportunities

5.3.1        Burgeoning Deployment of Cloud Computing

5.4         Future Trends

5.4.1        Merging with Advanced Technologies

5.5         Impact Analysis of Drivers and Restraints

6.           Homomorphic Encryption Market – MEA Analysis

6.1         Homomorphic Encryption Market: MEA Overview

6.2         MEA Homomorphic Encryption Market – Revenue and Forecast to 2027 (USD Million)

6.3         Market Positioning – Market Players Ranking

7.           MEA Homomorphic Encryption Market Analysis – By Type

7.1.1        Overview

7.1.2        MEA 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.           MEA Homomorphic Encryption Market Analysis – By Application

8.1.1        Overview

8.1.2        MEA 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.           MEA Homomorphic Encryption Market – Country Analysis

9.1         Overview

9.1.1        MEA: Homomorphic Encryption Market, by Key Country

9.1.1.1          South Africa: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)

9.1.1.1.1          South Africa: Homomorphic Encryption Market, by Type

9.1.1.1.2          South Africa: Homomorphic Encryption Market, by Application

9.1.1.2          Saudi Arabia: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)

9.1.1.2.1          Saudi Arabia: Homomorphic Encryption Market, by Type

9.1.1.2.2          Saudi Arabia: Homomorphic Encryption Market, by Application

9.1.1.3          UAE: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)

9.1.1.3.1          UAE: Homomorphic Encryption Market, by Type

9.1.1.3.2          UAE: Homomorphic Encryption Market, by Application

9.1.1.4          Rest of MEA: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)

9.1.1.4.1          Rest of MEA: Homomorphic Encryption Market, by Type

9.1.1.4.2          Rest of MEA: Homomorphic Encryption Market, by Application

10.        Impact of COVID-19 Pandemic On MEA Homomorphic Encryption Market

10.1      MEA: 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.             MEA Homomorphic Encryption Market – Revenue, and Forecast to 2027 (USD Million)

Table 2.             South Africa: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)

Table 3.             South Africa: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)

Table 4.             Saudi Arabia: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)

Table 5.             Saudi Arabia: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)

Table 6.             UAE: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)

Table 7.             UAE: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)

Table 8.             Rest of MEA: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)

Table 9.             Rest of MEA: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)

Table 10.          Glossary of Term: MEA Homomorphic Encryption Market

LIST OF FIGURES

Figure 1.           MEA Homomorphic Encryption Market Segmentation

Figure 2.           MEA Homomorphic Encryption Market Segmentation – By Country

Figure 3.           MEA Homomorphic Encryption Market Overview

Figure 4.           MEA Homomorphic Encryption Market –Type

Figure 5.           MEA Homomorphic Encryption Market – Application

Figure 6.           MEA Homomorphic Encryption Market – Country

Figure 7.           MEA– PEST Analysis

Figure 8.           MEA Homomorphic Encryption Market – Ecosystem Analysis

Figure 9.           MEA Homomorphic Encryption Market: Impact Analysis of Drivers and Restraints

Figure 10.        MEA: Homomorphic Encryption Market – Revenue and Forecast to 2027 (USD Million)

Figure 11.        MEA Homomorphic Encryption Market Breakdown, by Type (2019 and 2027)

Figure 12.        MEA Fully: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)

Figure 13.        MEA Somewhat: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)

Figure 14.        MEA Partially: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)

Figure 15.        MEA Homomorphic Encryption Market Breakdown, by Application (2019 and 2027)

Figure 16.        MEA BFSI: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)

Figure 17.        MEA Healthcare: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)

Figure 18.        MEA Government: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)

Figure 19.        MEA Others: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)

Figure 20.        MEA: Homomorphic Encryption Market Revenue Share, By Key Country (2019 and 2027)

Figure 21.        South Africa: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)

Figure 22.        Saudi Arabia: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)

Figure 23.        UAE: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)

Figure 24.        Rest of MEA: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)

Figure 25.        Impact of COVID-19 Pandemic in MEA Markets

Some of the leading companies are:

  1. Google LLC
  2. IBM Corporation
  3. Inpher, Inc.
  4. Microsoft Corporation
  5. Netskope, Inc.
  6. Thales Group
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA homomorphic encryption market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the MEA homomorphic encryption market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the homomorphic encryption market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution           

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