Homomorphic Encryption Market Regional Outlook, Competitive Analysis, Application and Forecasts To 2030

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Homomorphic Encryption Market Regional Outlook,
Competitive Analysis, Application and Forecasts
To 2030
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• Industry Insights

• The homomorphic encryption market is also growing
  with the increasing number of investment
  strategies for building more privacy-centric and
  secure collaboration tools. To illustrate, in
  August 2021, Duality secured 30M for its
  privacy-focused data collaboration tools that are
  built using homomorphic encryption.
• Though traditional encryption methods, like AES,
  are extremely fast and ensure convenient storage
  of data in encrypted form, they cannot perform
  simple analytics on encrypted data as cloud
  servers can lead to security concerns.
  Homomorphic encryption is therefore used for
  considerably simplifying this scenario, as it
  allows the cloud to directly operate on encrypted
  data and return the result to the data owners. It
  basically deals with the conversion of data into
  a ciphertext for analysis.
• In a bid to establish higher standards of data
  security in organizations without affecting the
  processes and application functionality, the
  homomorphic encryption industry will witness
  lucrative expansion in the forthcoming years.
  Lately, businesses have been leveraging cloud
  computing and storage services securely for
  eliminating the tradeoff between usability and
  data security.

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• Considering the staggering time and cost savings
  of banks upon implementing cloud computing
  strategies, the widespread adoption of cloud has
  grown crucial for the security and protection of
  data. In this regard, fully homomorphic
  encryption (FHE) has garnered immense traction.
• The thriving need for financial crime prevention,
  detection, and investigation has also led to the
  higher deployment of encryption methods. FHE
  further helps financial institutions in
  leveraging intelligent insights from data assets
  for delivering better products, and policies to
  offer services across credit card partners,
  mergers, loans, and acquisitions without
  disclosing confidential information.
• Homomorphic encryption has emerged as a strong
  contender in medical imaging as it is designed
  for processing data that remains encrypted. With
  the increasing demand for handling electronic
  health records for improved data accessibility,
  and allowing e-messaging between providers, the
  efficient homomorphic medical image encryption
  algorithm is increasingly used for cloud storage
  security.
• The rising demand for supporting real-time
  learning in personalized cancer medicine will
  also play an ideal role in the homomorphic
  encryption market expansion.

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• Competitive Analysis

• Some of the key players profiled in the
  homomorphic encryption market report include
  Duality Technologies Inc., Google LLC, IBM
  Corporation, Intel Corporation, Microsoft
  Corporation, Thales Group, and Zaiku Group Ltd.

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