Increasing demand to protect sensitive data amidst rising cybersecurity concerns propelled the confidential computing market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, January 18, 2024 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Confidential Computing Market Reach USD 184.5 Billion by 2032 | Top Players such as – Cyxtera, Fortanix & Ovh SAS.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global confidential computing market was valued at USD 4.1 billion in 2022, and is projected to reach USD 184.5 billion by 2032, growing at a CAGR of 46.8% from 2023 to 2032.
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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.
The global confidential computing market is segmented on the basis of component, deployment mode, application, end user, and region. On the basis of component, it is classified into hardware, software, and services. On the basis of deployment, it is segregated into on-premise and cloud. On the basis of application, it is categorized into data security, secure enclaves, pellucidity between user, and others. On the basis of end user, it is fragmented into BFSI, IT and telecom, retail and e-commerce, healthcare, government and public sector, manufacturing, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA
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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.
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.
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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.
The key players profiled in the confidential computing industry analysis are Advanced Micro Devices, Inc., Amazon Web Services, Inc., Alibaba Cloud, Cyxtera Technologies Inc., Fortanix, Google LLC, Intel Corporation, International Business Machines Corporation, Microsoft Corporation and Ovh SAS. These players have adopted various strategies to increase their market penetration and strengthen their position in the confidential computing industry.
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● 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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