The confidential computing market is anticipated to grow at a CAGR of 43.85% from US$4.174 billion in 2022 to US$53.214 billion by 2029.
— Knowledge Sourcing Intelligence
NOIDA, UTTAR PARDESH, INDIA, June 25, 2024 /EINPresswire.com/ — According to a new study published by Knowledge Sourcing Intelligence, the confidential computing market is projected to grow at a CAGR of 43.85% between 2022 and 2029 to reach US$53.214 billion by 2029.
Confidential computing is an innovative technology that upgrades security and privacy protection of data amid processing. It employs a Trusted Execution Environment (TEE), a secure zone inside a processor, to secure data and code. Information is encrypted before entering the TEE and remains encrypted even amid processing. Clients hold encryption keys to decrypt the information, avoiding access from cloud providers or framework administrators. This approach offers improved data security, administrative compliance, and cloud adoption, permitting organizations to unlock the potential of their data while maintaining its thorough security.
The confidential computing industry is developing due to rising data security concerns, regulatory bodies compliance, cloud adoption, innovative technological progressions, increasing demand for multi-party computation, and the focus on particular businesses like healthcare, finance, and government. Confidential computing makes a difference in organizations by protecting sensitive information while handling it, guaranteeing compliance with stringent data security regulations. It moreover encourages secure multi-party computation, permitting numerous parties to analyze data without revealing underlying data. Major tech companies are effectively developing and offering confidential computing services, assist in driving market expansion. These factors contribute to the growing demand for secure data protection in various industries.
The market of confidential computing is extending with the launch of new products and innovative advancements on a worldwide scale, for instance, in April 2024, Cohesity, a leader in AI-powered data security partnered with Intel to integrate Intel’s confidential computing capabilities into its Cohesity Data Cloud. This innovative technology of data-in-use encryption, leveraging Fort Knox, Cohesity’s leading.
Access sample report or view details: https://www.knowledge-sourcing.com/report/confidential-computing-market
Based on the component, the confidential computing market is categorized into software, hardware and services. The services segment is expected to experience the growth in the confidential computing market due to the complexity of managing confidential computing environments, the evolving technology landscape, and growing demand for managed services. Services providers offer expertise and resources to help organizations navigate these complexities, stay updated on the latest advancements, and outsource management to service providers. While hardware and software are essential, services provide the glue that holds everything together.
Based on application, the market of confidential computing is classified into pellucidity between users, secure enclaves, data security, and others. Data security is anticipated to drive the confidential computing market development in the coming years due to the widespread requirement for data security, compliance necessities, and the focus on delicate businesses like healthcare, finance, and government. Confidential computing offers a strong arrangement for protecting sensitive data, guaranteeing compliance with information privacy controls, and encouraging secure medical record handling and financial transaction processing.
Based on the deployment, the confidential computing market is categorized into on-premise and cloud. The cloud deployment section is anticipated to experience the most elevated rise within the confidential computing industry due to the drift towards cloud adoption, major cloud providers investing in confidential computing arrangements to handle fluctuating workloads and information handling demands, and the progressed scalability and adaptability of cloud-based confidential computing among various business. While on-premise deployments may be preferred for specific situations, cloud-based confidential computing is a major driver of market growth.
Based on the vertical, the confidential computing market is categorized into retail, consumer goods, BFSI and others. Confidentiality computing is expected to be the leading vertical in the market growth for two sectors: Banking, Financial Services and Insurance (BFSI) and healthcare. BFSI deals with sensitive data, such as financial transactions and customer information, and requires strong data security practices. Healthcare manages vast patient data, and confidentiality computing offers a solution for securely analyzing and processing this data while ensuring patient privacy. Other verticals like government, defense, and retail also show interest in confidential computing.
Based on Geography, North America is expected to have a major share of the worldwide market of confidential computing in the midst of the anticipated period owing to a number of major factors. The region of North America has presence of strong IT foundation, with high-performance computing capabilities and robust internet network connectivity, propels the adoption of confidential computing solutions. North America region has major tech players like Microsoft, Google, and IBM which are working in developing this solution driving the market expansion. North American organizations are mindful of data security threats and controls, pushing for progress security solutions such as confidential computing services. Early adoption of new technologies, such as confidential computing, gives the region a competitive edge. Government funding also supports this innovation and market expansion.
As a part of the report, the major players operating in the confidential computing market that have been covered are IBM, Microsoft, Intel Corporation, Google, AMD, Amazon Web Services, Inc., Fortanix, Profian, Alibaba Cloud, and AMI.
The market analytics report segments the confidential computing market on the following basis:
• BY COMPONENT
o Software
o Hardware
o Services
• BY APPLICATION
o Pellucidity Between Users
o Secure Enclaves
o Data Security
o Others
• BY DEPLOYMENT
o On-premise
o Cloud
• BY VERTICAL
o Retail
o Consumer goods
o BFSI
o Others
• BY GEOGRAPHY
o North America
• United States
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Others
o Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Others
o Middle East and Africa
• Saudi Arabia
• UAE
• Others
o Asia Pacific
• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others
Companies Profiled:
• IBM
• Microsoft
• Intel Corporation
• Google
• AMD
• Amazon Web Services, Inc.
• Fortanix
• Profian
• Alibaba Cloud
• AMI
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• Surface Computing Market: https://www.knowledge-sourcing.com/report/surface-computing-market
• Wearable Computing Market: https://www.knowledge-sourcing.com/report/wearable-computing-market
Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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