Dublin, July 30, 2024 (GLOBE NEWSWIRE) -- The "Confidential Computing Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The confidential computing market was estimated at US$4.174 billion in 2022, growing at a CAGR of 43.85%, reaching a market size of US$53.214 billion by 2029.
Confidential computing is an encryption of the data in cloud computing that takes place during a non-accessible processing of data in the memory only after the cloud environment is verified to be a trusted execution environment (TEE). The growing adoption of cloud technology, increased innovations, and upgradation by cloud providers, and growing demand for data privacy and security are driving the confidential computing market growth.
The growing adoption of cloud technology propels the confidential computing market's growth.
The emergence of cloud computing as a powerful tool for business organizations comes with its fair share of pros and cons. Scalability and flexibility are the advantages, but security risks accompany cloud computing when it comes to sensitive data stored and processed in a shared environment. Confidential computing deals with this issue. It performs the function through the encryption of data on the server and when it is in transit. It, therefore, creates a secure enclave even within a multi-tenant cloud environment.
For example, sensitive information about people in the cloud will be encrypted, preventing the disclosing of the information even if some unauthorized users may happen to gain access to the External Cloud System. This gives companies the liberty to take advantage of different cloud computing offerings, including cost savings and ready access, without risking the security of their confidential data. This is especially true for industries like finance, medical care, and government where privacy of data is of prime importance.
Increased innovations and upgradation by cloud providers enhance the confidential computing market growth.
Industry big players such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP) advertently or subsequently are creating a steam live market for confidential computing, like the giant cloud providers, who are emphasizing machine security by shopping the cloud confidential computing solutions. The primary aspect it fires the imagination and fosters the development of cryptographic computing solutions. According to result-oriented players, they will hit the highlight; therefore, they may predict the constant development of security tools and capabilities.
Furthermore, it is cloud provider support that, to the same extent, leads to a bigger adoption by the users. It is through this that they enhance confidential computing services, as knowing that they are well-integrated makes it easier for businesses of all sizes to access them. The ecosystem with varieties of compatible and adjacent conditions of hardware, software, and service providers will guarantee that the implementation process will be smoother, and, therefore, the technology will be widely accepted.
For instance, in November 2023, Microsoft revealed confidential computing advancements powered by Azure. These innovations combine the capability of the new virtual machine options and of the NVIDIA GPU extension, which are both designed to ensure the security of the cloud platform for classifying sensitive data.
Growing demand for data security and privacy drives the confidential computing market growth.
Cases of data breaches are encountered frequently, and companies are in panic mode as they pursue to safeguard their privileged information. This is especially important if data is undergoing processing - a very vulnerable state. Threats to cloud security are mitigated through the use of confidential computing. It protects data against both external and internal threats while it is in active use, thus minimizing the security risks from external malicious threats and internal threats as well. It is very vital in those organizations that deal with sensitive data like payment details, medical records, or government secrets.
Alongside that, new legislations such as GDPR and CCPA are tightening the data privacy requirements. The confidential computing method facilitates organizations in complying with the regulations that call for data confidentiality all through the processing cycle. Confidential computing provides a sense of calmness as today's world is all about data.
Confidential Computing Market - Geographical Outlook
North America is anticipated to grow
North America is expected to account for a significant share of the confidential computing market due to various reasons. One of the primary features of the region is the presence of many cloud-based businesses such as finance, healthcare, and the government. This involves the handling of large amounts of sensitive data, and confidential computing serves as a secure enclave for processing the data in the cloud.
Secondly, North American cybersecurity is based on the landscape with the awareness increased about the different data security threats. As organizations go the extra mile to ensure the safety of data with solutions such as confidential computing, they strive to comply with strict data privacy regulations like GDPR and CCPA.
Lastly, the most impactful cloud players in the North American cloud market are AWS, Azure, and GCP. Through their continuous work in advanced encryption solutions the innovation, wider adoption, and the ecosystem is strongly supported within the region. Such factors give North America an advantage in the future prospects of confidential computing.
Confidential Computing Market Restraints
Restricted implementation of hardware and software curbs the confidential computing market growth.
The growth in the field of confidential computing is still gaining some attention. The adoption of confidential computing is restricted to respective hardware and software where the integration is done to certain systems. Companies may find it difficult to adopt this technology and prefer the traditional method of cloud technology.
Changing government regulation policies hinder the confidential computing market growth.
Evolving regulations over data privacy are becoming rigorous and evolving daily, and confidential computing solutions need to be adapted to adhere to certain regulations based on requirements. If the data needs to be stored locally it might restrain the benefits of a confidential computing market.
Confidential Computing Market Key Industry Developments
- March 2024: Edge Systems, the company that has expertise in AI data privacy, launched a product called Continuum. The solution provides confidential computing and cryptography functions where the solution helps to give a secure pathway for AI service providers to upgrade models and codes by protecting their data.
- June 2023: Fortanix enables innovative technology by providing confidential data search for protected data with respect to sensitive and regulated data. This is the first industry software tool that promptly enables searching protected data in a safer way, like data privacy and regulations.
Confidential Computing Market Major Players and Products
- Azure Confidential Computing Solution: the product offered by Microsoft is a cloud-based solution designed and developed for guarding important data. The solution uses hardware-based enclaves to restrict the data while processing, as the solutions gives a confidence that the data will be encrypted even from Microsoft itself.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 141 |
| Forecast Period | 2022 - 2029 |
| Estimated Market Value (USD) in 2022 | $4.17 Billion |
| Forecasted Market Value (USD) by 2029 | $53.21 Billion |
| Compound Annual Growth Rate | 43.8% |
| Regions Covered | Global |
Companies Featured
- IBM
- Microsoft
- Intel Corporation
- AMD
- Amazon Web Services, Inc.
- Fortanix
- Profian
- Alibaba Cloud
- AMI
Component
- Software
- Hardware
- Services
Application
- Pellucidity Between Users
- Secure Enclaves
- Data Security
- Others
Deployment
- On-premise
- Cloud
Vertical
- Retail
- Consumer goods
- BFSI
- Others
For more information about this report visit https://www.researchandmarkets.com/r/4ma3pk
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