Homomorphic Encryption Market Will Exhibit an Impressive Expansion by 2022-2028
Global Homomorphic Encryption Market was valued at USD 167.01 million in 2021 and is expected to reach USD 278.52 million by the year 2028, at a CAGR of 7.58%.
The homomorphic encryption market is witnessing significant growth driven by increasing concerns regarding data privacy and security in various industries, including finance, healthcare, telecommunications, and government. Homomorphic encryption is a cryptographic technique that allows computation on encrypted data without decrypting it, enabling secure processing of sensitive information while preserving privacy. Key drivers of market growth include the proliferation of cloud computing, the rise of big data analytics, and the adoption of artificial intelligence (AI) and machine learning (ML) technologies, all of which necessitate secure and privacy-preserving data processing methods. Additionally, regulatory requirements such as GDPR in Europe and HIPAA in the United States are driving organizations to adopt homomorphic encryption to ensure compliance with data protection laws.
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Global Homomorphic Encryption Market was valued at USD 167.01 million in 2021 and is expected to reach USD 278.52 million by the year 2028, at a CAGR of 7.58%.
The homomorphic encryption market is witnessing significant growth driven by increasing concerns regarding data privacy and security in various industries, including finance, healthcare, telecommunications, and government. Homomorphic encryption is a cryptographic technique that allows computation on encrypted data without decrypting it, enabling secure processing of sensitive information while preserving privacy. Key drivers of market growth include the proliferation of cloud computing, the rise of big data analytics, and the adoption of artificial intelligence (AI) and machine learning (ML) technologies, all of which necessitate secure and privacy-preserving data processing methods. Additionally, regulatory requirements such as GDPR in Europe and HIPAA in the United States are driving organizations to adopt homomorphic encryption to ensure compliance with data protection laws.
Sample Report Available at Zero Cost!
https://introspectivemarke...
6 months ago
