confidential-computing-market-to-reach-$1845-billion,-globally,-by-2032-at-46.8%-cagr:-allied-market-research

Confidential Computing Market to reach $184.5 Billion, Globally, by 2032 at 46.8% CAGR: Allied Market Research

 

Allied Market Research published a report, titled, “Confidential Computing Market by Component (Hardware, Software, Service), Deployment Mode (On-premise and Cloud), Application (Data Security, Security Enclaves, Pellucidity between Users, and Others), End User (BFSI, IT and Telecom, Healthcare, Retail and E-commerce, Manufacturing, Government and Public Sector, and Others), and Region (North AmericaEuropeAsia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global generated $4.1 billion in 2022, and is estimated to reach $184.5 billion by 2032, witnessing a CAGR of 46.8% from 2023 to 2032.

Confidential computing is a cloud computing technology that encrypts and stores sensitive data of an organization in a secure portion of a computer’s processor. In addition, it can also be used to protect proprietary business logic, analytics functions, MI algorithms, or entire applications.

Prime determinants of growth

Surge in need to comply with regulatory standards, growing concerns regarding data security and privacy, and increasing need for secure cloud computing primarily drive the growth of the confidential computing market. However, implementation and integration challenges hamper market growth to some extent. Moreover, the increasing need for secure AI solutions is expected to provide lucrative opportunities for market growth during the forecast period.

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Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2022

$4.1 Billion

Market Size in 2032

$184.5 Billion

CAGR

46.8 %

No. of Pages in Report

341

Segments covered

Component, Deployment Mode, Application, End User, and Region.

Drivers

Growing need to comply with regulatory standards

Growing concerns regarding data security and privacy

Increasing need for secure cloud computing

Opportunities

Increasing need for secure AI solutions

Restraints

Implementation and integration challenges

Covid-19 Scenario

  • The COVID-19 pandemic had significantly affected the scale of the confidential computing market. The virus’s spread rapidly increased the digital revolution in a number of industries, including healthcare, finance, and government, increasing the need for computer solutions that protect users’ privacy and security.
  • The pandemic had brought to light the dangers and vulnerabilities linked to data breaches and cyberattacks, highlighting the significance of confidential computing for maintaining data security and privacy.
  • The pandemic also had a substantial effect on the confidential computing business in the healthcare sector. The healthcare sector handled very private patient information, such as medical records, identifying information, and research data.

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The software segment to maintain its leadership status throughout the forecast period

Based on component, the software segment held the highest market share in 2022, accounting for more than three-fifths of the confidential computing market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to protect their data, especially during processing or when sharing it with outside parties, due to the surge in sophisticated cyberattacks and data breaches. However, the hardware segment is projected to manifest the highest CAGR of 49.6% from 2023 to 2032, owing to enormous volumes of sensitive data as a result of the development of digital technology and the emergence of data-driven decision-making.

The on-premise segment to maintain its leadership status throughout the forecast period

Based on deployment mode, the on-premise segment held the highest market share in 2022, accounting for more than three-fifths of the confidential computing market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to data privacy, satisfies compliance and regulatory standards, and protects against insider threats within the company. However, the cloud segment is projected to manifest the highest CAGR of 49.7% from 2023 to 2032, owing to hardware-based security capabilities such as Intel SGX (Software Guard Extensions) and AMD SEV (Secure Encrypted Virtualization). These secure enclaves offer separated, encrypted settings for the safe processing of sensitive data and calculations.

The BFSI segment to maintain its lead position during the forecast period

Based on the end user, the BFSI segment accounted for the largest share in 2022, owing to benefit that financial information is handled with the highest care and security, which helps to increase customer trust and confidence. However, the retail and e-commerce segment is expected to portray the largest CAGR of 52.8% from 2023 to 2032 and is projected to maintain its lead position during the forecast period, owing to the growing reliance on digital platforms and the acquisition of enormous volumes of client data.

Asia-Pacific region to maintain its dominance by 2032

Based on region, the North America segment held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the Confidential Computing market revenue, owing to increasing digitization of businesses and the proliferation of sensitive data requires protecting this data from unauthorized access, even from cloud providers themselves. The Asia-Pacific region is expected to witness the fastest CAGR of 51.6% from 2023 to 2032, owing to the adaption of smart technologies such as AI, ML and virtual machines escalates the demand for confidential computing.

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