Pune, India, July 31, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global Confidential Computing Market Size was valued at USD 3.71 billion in 2022 and is projected to grow from USD 7.26 billion in 2023 to USD 53.31 billion by 2030, exhibiting a CAGR of 94.4% during the forecast period.
Computing technology is a cutting-edge security approach that provides encryption, access restrictions, and comprehensive data protection. With the rise of cloud computing, its importance has grown, offering enhanced security measures for organizations in the digital space. Fortune Business Insights presents this information in their report titled "Global Confidential Computing Market, 2023–2026."
Key Industry Development
April 2023: Microsoft's collaboration with Kata Confidential Containers (CoCo) aims to streamline confidential computing in Kubernetes. The project focuses on standardizing and simplifying the deployment of confidential container workloads, enabling users to leverage familiar tools and workflows while ensuring zero trust operator deployments with AKS.
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Key Takeaways-
- Confidential Computing Market is expected to flourish & reach USD 53.31 Billion in 2026
- The Internet of Things and digitization advancements produce enormous amounts of data.
- Data breaches and cyberattacks have increased dramatically in recent years, and this trend is projected to continue.
- Because implementing confidential computing technology involves a substantial expenditure, SMEs cannot do so.
- Confidential Computing Market Size in North America was USD 1.76 Billion 2022
Discover the Leading Players Featured in the Report-
“IBM Corporation (U.S.), Microsoft Azure (U.S.), Intel (U.S.), Google Cloud (U.S.), AMD (U.S.)
Amazon Web Services (AWS), Arm (U.K.), Profian (U.S.), Decentriq (Switzerland)Swisscom (Switzerland)”
Report Scope & Segmentation-
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 94.4% |
| 2026 Value Projection | USD 53.31 Billion |
| Base Year | 2022 |
| Confidential Computing Market Size in 2022 | USD 3.71 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 240 |
| Segments covered | Component, Deployment, Enterprise, Application, Industry, Regional, |
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Drivers and Restraints
Addressing Security Concerns due to Growing Cybersecurity Threats Propel Market Growth
The exponential growth of data across industries due to digitization and IoT has raised security concerns, driving the need for robust solutions. The increasing number of cyberattacks and data breaches further emphasizes the importance of data protection and fuels the demand for secure computational solutions.
However, high cost required to implement these solutions may potentially limit the confidential computing market growth.
Leading Segments Covered in this Report-
By Component
- Hardware
- Software
- Services
By Deployment
- On-premise
- Cloud
By Enterprise Type
- Large Enterprises
- SMEs
By Application
- Privacy & Security
- Blockchain
- Multi-party Computing
- IoT & Edge
- Personal Computing Devices
By Industry
- BFSI
- Manufacturing
- Retail & Consumer Goods
- Healthcare & Life Science
- IT & Telecom
- Government & Public Sector
- Others (Education, Utility)
Regional Insights
North America Dominates Market due to Presence of Large Companies
North America leads in revenue generation and is expected to experience significant growth due to the presence of local cloud hyperscale providers and increasing security concerns in the region. The high demand for security solutions and the need to address cyber threats contribute to the region’s substantial confidential computing market share.
Europe is experiencing growth due to rising legal requirements, authorization processes, and the need for constant monitoring of cloud products and services.
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Competitive Landscape
Market Players Drive Success through Innovation and Partnerships
Leading companies in the market are strengthening their position through product innovation and strategic partnerships. By leveraging advanced technologies, such as AI, ML, and cloud, they are enhancing their offerings to meet customer demands and achieve their business goals.
FAQs
How big is the Confidential Computing Market?
Confidential Computing Market size was USD 3.71 Billion in 2022. It is expected to reach USD 53.31 Billion by 2026.
How fast is the Confidential Computing Market growing?
The Confidential Computing Market will exhibit a CAGR of 94.4% during the forecast period, 2023-2026
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