United States Homomorphic Encryption market is expected to reach 62.22 million USD by the end of 2022
The United States Homomorphic Encryption market size was 40.17 million USD in 2016 and is expected to reach 62.22 million USD by the end of 2022, growing at a CAGR of 7.57
The United States Homomorphic Encryption market size was 40.17 million USD in 2016 and is expected to reach 62.22 million USD by the end of 2022, growing at a CAGR of 7.57
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<strong>United</strong> <strong>States</strong> <strong>Homomorphic</strong> <strong>Encryption</strong><br />
<strong>market</strong> <strong>is</strong> <strong>expected</strong> <strong>to</strong> <strong>reach</strong> <strong>62.22</strong><br />
<strong>million</strong> <strong>USD</strong> <strong>by</strong> <strong>the</strong> <strong>end</strong> <strong>of</strong> <strong>2022</strong><br />
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<strong>Homomorphic</strong> encryption <strong>is</strong> a form <strong>of</strong> encryption that allows computation on<br />
ciphertexts, generating an encrypted result which, when decrypted,<br />
matches <strong>the</strong> result <strong>of</strong> operations performed on <strong>the</strong> plaintext. The purpose<br />
<strong>of</strong> homomorphic encryption <strong>is</strong> <strong>to</strong> allow computation on encrypted data.<br />
The <strong>Homomorphic</strong> <strong>Encryption</strong> <strong>is</strong> mainly classified in<strong>to</strong> <strong>the</strong> following types:<br />
Partially Homomorph<strong>is</strong>m, Somewhat Homomorph<strong>is</strong>m and Fully<br />
Homomorph<strong>is</strong>m. And Fully Homomorph<strong>is</strong>m <strong>is</strong> <strong>the</strong> most widely used type<br />
which <strong>to</strong>ok up about 50.18% <strong>of</strong> <strong>the</strong> <strong>to</strong>tal in 2016 in USA<br />
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<strong>Homomorphic</strong> <strong>Encryption</strong> <strong>is</strong> mainly used in Industrial, Government,<br />
Financial & Insurance, Health Care and O<strong>the</strong>rs. And Government <strong>is</strong> <strong>the</strong><br />
most widely used area which <strong>to</strong>ok up about 30.98% <strong>of</strong> <strong>the</strong> USA <strong>to</strong>tal in<br />
2016.<br />
The South <strong>is</strong> <strong>the</strong> largest area <strong>of</strong> <strong>Homomorphic</strong> <strong>Encryption</strong> in <strong>the</strong> USA in<br />
<strong>the</strong> past few years and it will keep increasing in <strong>the</strong> next few years. The<br />
<strong>United</strong> <strong>States</strong> <strong>Homomorphic</strong> <strong>Encryption</strong> <strong>market</strong> size was 40.17 <strong>million</strong><br />
<strong>USD</strong> in 2016 and <strong>is</strong> <strong>expected</strong> <strong>to</strong> <strong>reach</strong> <strong>62.22</strong> <strong>million</strong> <strong>USD</strong> <strong>by</strong> <strong>the</strong> <strong>end</strong> <strong>of</strong><br />
<strong>2022</strong>, growing at a CAGR <strong>of</strong> 7.57% between 2016 and <strong>2022</strong><br />
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Market barriers <strong>of</strong> <strong>Homomorphic</strong> <strong>Encryption</strong> are high, <strong>the</strong> main players are<br />
Micros<strong>of</strong>t, IBM, Galo<strong>is</strong> and Cryp<strong>to</strong>Experts, amony those, IBM mastered<br />
<strong>the</strong> most advanced technology, Micros<strong>of</strong>t made great progress in <strong>the</strong><br />
healthcare and biotechnology area; Galo<strong>is</strong> got strong support from DARPA;<br />
Cryp<strong>to</strong>Experts <strong>is</strong> a young start-up company with a huge future, and now,<br />
<strong>the</strong>y are cooperating <strong>to</strong> standardize homomorphic encryption.<br />
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