Confidential Computing Market worth $59.4 billion by 2028 - Exclusive Report by MarketsandMarkets™
CHICAGO, June 2, 2023 /PRNewswire/ -- The market for confidential computing appears to have a bright future thanks to rising data security risks awareness, changing laws, technology improvements, and rising cloud adoption. Applications that are specific to the industry, teamwork, and financial support for R&D will all help it expand. For wider adoption, however, issues like performance overhead and compatibility must be resolved.
The Confidential Computing Market size is expected to grow from USD 5.3 billion in 2023 to USD 59.4 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 62.1% during the forecast period, according to a new report by MarketsandMarkets™. The advancements in hardware and software, increasing need to meet regulatory requirements have driven the market growth.
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Scope of the Report
Software segment to capture a large market share during the forecast period
The Confidential Computing Market, by component, includes hardware, software, and services. The software segment is projected to lead the market Confidential computing software manages the memory resources within secure enclaves to ensure isolation and protection of data as it provides mechanisms to allocate, manage, and encrypt memory regions associated with enclaves, preventing unauthorized access or tampering. Software components also enable secure input and output operations within trusted execution environments. They provide APIs and libraries to handle secure communication channels, cryptographic protocols, and data encryption/decryption, ensuring sensitive data remains protected during input and output operations. Software libraries support cryptographic operations required for confidential computing, including encryption, decryption, key generation, and digital signatures and these libraries provide the necessary cryptographic algorithms and protocols to secure data and ensure the integrity and authenticity of computations.
Secure Enclaves to capture a second large market share during forecast period
The Confidential Computing Market has been segmented on the basis of application into data security, secure enclaves, pellucidity between users, and other applications. The secure enclaves segment is expected to hold a second largest market share during the forecast period. A secure enclave is a hardware-based technology that creates a trusted TEE within a processor. It provides a secure and isolated area where sensitive data and computations can be processed with a high level of confidentiality and integrity. Secure enclaves create a boundary between the enclave and the rest of the system, isolating the enclave from the underlying operating system and other applications running on the same hardware. This isolation ensures that even privileged users or malicious software running on the system cannot access or tamper with the data and computations within the enclave. Secure enclaves provide trusted execution capabilities, meaning that the code and data within the enclave are executed in a secure and trusted manner. The integrity of the code and data is verified, and the enclave's execution is protected from external manipulation. This ensures the computations performed within the enclave can be trusted and that the results are reliable.
North America segment to capture a large market share during the forecast period
The Confidential Computing Market has been segmented by region into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. As per region, North America is estimated to account for the largest market share in the global Confidential Computing Market in 2023, and this trend is expected to continue during the forecast period. North America is the region with the most established confidential computing adoption due to a number of factors, including the existence of large enterprises with sophisticated IT infrastructure and the availability of technical expertise. North America is expected to encourage market growth, as large enterprises and SMEs focus on developing innovative confidential computing software, hardware and services integrated with technological advancements, such as Trusted Execution Environment (TEE), Secure Multi-Party Computation (MPC), Confidential Containers. North America's two largest contributors to the Confidential Computing Market are the US and Canada. The trend is expected to persist during the forecasting period. It is a region with strict regulations for a number of economic sectors and advanced technology.
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Top Key Companies in Confidential Computing Market:
Some of the major vendors offering confidential computing across the globe are Microsoft (US), IBM (US), Intel (US), Google (US), AMD (US), Fortanix (US), AWS (US), Arm (UK), Alibaba Cloud (China), Swisscom (Switzerland), OVHcloud (France), pheonixNAP (US), AMI (Georgia), Applied Blockchain (UK), R3 (US), Decentriq (Switzerland), Hub Security (Israel), Edgeless Systems (Germany), Cysec (Switzerland), Opaque Systems (US), Profian (US), Super Protocol (US), Secretarium (UK), Anjuna Security (US), and Tresorit (Switzerland).
Confidential Computing Market Advantages:
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