North 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)
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 North America homomorphic encryption market is the growing data security concerns in all the data-sensitive organizations across the North America. The North America 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. Moreover, other factors propelling the North America homomorphic encryption market include growth of data analytics across North America and rise in the number of cyberattacks and data breaches. Furthermore, the demand for security solutions in SMEs has increased significantly across North America region, which is expected to drive the North America homomorphic encryption market.
Furthermore, in case of COVID-19, North America is highly affected specially the US. Attributed to a surge in online shopping activity during the COVID-19 epidemic in the US and Canada, B2C E-Commerce sales in both countries are anticipated to witness exponential growth in 2020. North America is early adopter of advanced technologies as well as strong penetration of digital technologies. The COVID-19 has strong impact on the North America market as its enhanced importance of homomorphic encryption for business data transfer. During the pandemic, the digitization in North America region is witnessed significant growth in almost all business sector owing to demand for remote working and monitoring services. In addition, the technology has shown possibilities in the healthcare sector to secure critical healthcare data. Companies are also highlighted the importance and of the solution for the same. For instance, Duality Technologies started to offer solution based on the homomorphic encryption for businesses and also stated the possibilities for the healthcare industry. Due to initiatives by companies during pandemic, the North America homomorphic encryption market is expected to grow during forecast period.
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Market Overview and Dynamics
The North America homomorphic encryption market is expected to grow from US$ 49.98 million in 2019 to US$ 99.01 million by 2027; it is estimated to grow at a CAGR of 9.3 % from 2020 to 2027. Increasing deployment of cloud computing is expected to accelerate the North America homomorphic encryption market. With to the emergence of cloud computing, the on-premises networking is phasing out. Owing to numerous benefits of cloud computing—such as cost, flexibility, scalability, mobility, disaster recovery & loss prevention—coupled with decreasing cost of cloud computing, organizations across North America are rapidly adopting cloud computing. However, mitigating database over the cloud has been always been a matter of concern. Although, encrypting data is considered a viable option but still exposed to risk while computing, as the data has to be decrypted first. Homomorphic encryption enables organizations to compute the data while always keeping the data encrypted. It allows users to run complex and large calculations without compromising the data security. Owing to increase in deployment of cloud computation across the North America, the demand of homomorphic encryption will also increase for more safety and security of data, which will drive the North America homomorphic encryption market.
Key Market Segments
In terms of type, the fully segment accounted for the largest share of the North America homomorphic encryption market in 2019. In terms of application, the BFSI segment held a larger market share of the North America 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 North America 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.; ShieldIO, Inc.; Thales Group.
Reasons to buy report
- To understand the North America 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 North America homomorphic encryption market
- Efficiently plan M&A and partnership deals in North America 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 North America homomorphic encryption market
- Obtain market revenue forecast for market by various segments from 2020-2027 in North America region.
North America Homomorphic Encryption Market Segmentation
North America Homomorphic Encryption Market – By Type
- Partially
- Somewhat
- Fully
North America Homomorphic Encryption Market - By Application
- BFSI
- Healthcare
- Government
- Other
North America Homomorphic Encryption Market - By Country
- US
- Canada
- Mexico
North America Homomorphic Encryption Market - Company Profiles
- Google LLC
- IBM Corporation
- Inpher, Inc.
- Microsoft Corporation
- Netskope, Inc.
- ShieldIO, 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. North America Homomorphic Encryption Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Homomorphic Encryption Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Need for Data Security
5.1.2 Rise of Data Analytics
5.2 Market Restraints
5.2.1 Problems of Homomorphic Encryption Systems
5.3 Market Opportunities
5.3.1 Increasing Deployment of Cloud Computing
5.4 Future Trends
5.4.1 Combination with Advanced Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Homomorphic Encryption Market – North America Analysis
6.1 Homomorphic Encryption Market: North America Overview
6.2 North America Homomorphic Encryption Market – Revenue and Forecast to 2027 (USD Million)
6.3 Market Positioning – Market Players Ranking
7. North America Homomorphic Encryption Market Analysis – By Type
7.1.1 Overview
7.1.2 North America 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. North America Homomorphic Encryption Market Analysis – By Application
8.1.1 Overview
8.1.2 North America 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. North America Homomorphic Encryption Market – Country Analysis
9.1 Overview
9.1.1 North America: Homomorphic Encryption Market, by Key Country
9.1.1.1 US: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 US: Homomorphic Encryption Market, by Type
9.1.1.1.2 US: Homomorphic Encryption Market, by Application
9.1.1.2 Canada: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 Canada: Homomorphic Encryption Market, by Type
9.1.1.2.2 Canada: Homomorphic Encryption Market, by Application
9.1.1.3 Mexico: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Mexico: Homomorphic Encryption Market, by Type
9.1.1.3.2 Mexico: Homomorphic Encryption Market, by Application
10. Impact of COVID-19 Pandemic On North America Homomorphic Encryption Market
10.1 North America: 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 ShieldIO, Inc.
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 Microsoft Corporation
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 Netskope, Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Financial Overview
12.4.4 SWOT Analysis
12.4.5 Key Developments
12.5 Thales Group
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 IBM Corporation
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
12.7 Google LLC
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
13. Appendix
13.1 About The Insight Partners
13.2 Glossary of TermsLIST OF TABLES
Table 1. North America Homomorphic Encryption Market – Revenue, and Forecast to 2027 (USD Million)
Table 2. US: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 3. US: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 4. Canada: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 5. Canada: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 6. Mexico: Homomorphic Encryption Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 7. Mexico: Homomorphic Encryption Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 8. Glossary of Term: North America Homomorphic Encryption Market
LIST OF FIGURES
Figure 1. North America Homomorphic Encryption Market Segmentation
Figure 2. North America Homomorphic Encryption Market Segmentation – By Country
Figure 3. North America Homomorphic Encryption Market Overview
Figure 4. North America Homomorphic Encryption Market –Type
Figure 5. North America Homomorphic Encryption Market – Application
Figure 6. North America Homomorphic Encryption Market – Country
Figure 7. North America – PEST Analysis
Figure 8. North America Homomorphic Encryption Market – Ecosystem Analysis
Figure 9. North America Homomorphic Encryption Market: Impact Analysis of Drivers and Restraints
Figure 10. North America: Homomorphic Encryption Market – Revenue and Forecast to 2027 (USD Million)
Figure 11. North America Homomorphic Encryption Market Breakdown, by Type (2019 and 2027)
Figure 12. North America Fully: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 13. North America Somewhat: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 14. North America Partially: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 15. North America Homomorphic Encryption Market Breakdown, by Application (2019 and 2027)
Figure 16. North America BFSI: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 17. North America Healthcare: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 18. North America Government: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 19. North America Others: Homomorphic Encryption Market – Revenue and Forecast to 2027(US$ Million)
Figure 20. North America: Homomorphic Encryption Market Revenue Share, By Key Country (2019 and 2027)
Figure 21. US: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. Canada: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
Figure 23. Mexico: Homomorphic Encryption Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Impact of COVID-19 Pandemic in North American Country Markets
Some of the leading companies are:
- Google LLC
- IBM Corporation
- Inpher, Inc.
- Microsoft Corporation
- Netskope, Inc.
- ShieldIO, Inc.
- Thales Group
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