Chicago, June 19, 2023 (GLOBE NEWSWIRE) -- The global Confidential Computing Market size is expected to grow from an estimated value of USD 5.3 billion in 2023 to USD 59.4 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 62.1% from 2023 to 2028, according to a new report by MarketsandMarkets™. The increasing concerns regarding data privacy and security, growing adoption of cloud computing have led to the growth of the confidential computing market across the globe.
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219 - Tables
57 - Figures
250 - Pages
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Scope of the Report
| Report Metrics | Details |
| Market size available for years | 2019–2028 |
| Base year considered | 2022 |
| Forecast period | 2023–2028 |
| Forecast units | Billion (USD) |
| Segments Covered | Component, Application, Deployment Mode, and Vertical |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Companies Covered | Some of the major vendors offering confidential computing across the globe include 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), and more. |
Based on Component, the software segment is projected to lead the market. Software plays an important role in enabling and supporting confidential computing and provides the necessary tools, frameworks, and libraries to develop, deploy, and manage secure and trusted environments for confidential computations. Software frameworks and development tools provide the necessary infrastructure and APIs for creating secure enclaves or TEEs. These frameworks abstract the complexities of enclave development and facilitate the creation of secure and isolated execution environments.
Based on Application, Data Security is expected to lead the market. Data security is a fundamental aspect of the confidential computing market. Confidential computing technologies are designed to provide strong data security guarantees throughout the entire data processing lifecycle. Confidential computing relies on strong encryption techniques to protect data. Data is encrypted both at rest and in transit, ensuring it remains confidential and unreadable to unauthorized parties. Encryption keys are securely managed and controlled by the data owners, minimizing the risk of unauthorized access. Secure enclaves, such as Intel SGX (Software Guard Extensions) or AMD SEV (Secure Encrypted Virtualization), are hardware-based technologies that create trusted execution environments within a processor.
Based on Deployment Mode, the cloud deployment mode is projected to lead the market as it provides easy accessibility to the confidential computing software and services from anywhere with an internet connection, allowing users to access the software from any device, anytime, and anywhere. Cloud deployment mode also provides automatic software updates, security patches, and maintenance, eliminating the need for manual updates and reducing the workload of IT staff. Cloud deployment in the confidential computing market refers to the utilization of cloud-based infrastructure and services to support confidential computing workloads and applications. It involves leveraging the capabilities provided by cloud service providers (CSPs) to securely process, store, and manage sensitive data within a trusted environment. Cloud providers offer infrastructure and platform services that can be leveraged for confidential computing workloads.
Based on Vertical, the BFSI vertical is projected to lead the market. Confidential computing offers several benefits to the BFSI vertical, addressing its specific requirements for data privacy, security, compliance, and risk management. This helps BFSI institutions protect sensitive customer data, including financial transactions, personal information, and account details. By leveraging techniques such as secure enclaves or TEEs, confidential computing ensures sensitive data remains encrypted and inaccessible even during processing, thereby reducing the risk of data breaches and unauthorized access. Confidential computing enables secure processing of financial operations, such as transactions, calculations, and risk assessments.
The Confidential Computing market is segmented into five regions, including North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Asia Pacific is estimated to hold the highest CAGR during the forecasted period of the Confidential Computing market. The rising enterprise workloads are expected to have the biggest impact on the Confidential Computing industry in Asia Pacific, which is predicted to develop at the fastest rate in any region.
Asia Pacific Includes developed and developing economies, such as China, Japan, India, and the rest of Asia Pacific. Developing countries are gradually advancing toward using confidential computing to improve and streamline their business processes. Governments in the Asia Pacific region are actively promoting data privacy and security initiatives and are introducing regulations and guidelines that encourage the adoption of confidential computing technologies. For example, Singapore's Personal Data Protection Act (PDPA) and China's Cybersecurity Law drive organizations to implement secure computing measures. Cloud computing is rapidly expanding in the Asia Pacific region, with organizations migrating their workloads to the cloud for scalability and cost-efficiency.
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Top Trends in Confidential Computing Market
- Increased Adoption: Due to its capacity to safeguard sensitive data while it is being handled, confidential computing has become increasingly popular across a variety of businesses. Organisations are rapidly adopting secure computing technologies as they realise how crucial it is to protect their data, especially in cloud environments.
- Major cloud service providers started to provide their clients secret computing services as they embraced confidential computing. These service providers were addressing their clients' security and privacy concerns by incorporating confidential computing into their infrastructure, allowing them to perform delicate tasks with enhanced assurance.
- Growing Ecosystem: With the creation of new hardware, software, and frameworks especially made to support secure and confidential compute, the ecosystem for confidential computing was growing. Startups and well-established technology companies both entered the industry and contributed to this expansion by offering cutting-edge solutions to improve data security.
- Standards Development: To create uniform frameworks and protocols for secure computing, standardisation activities were under way. In order to lay a common groundwork for increased adoption and field collaboration, industry consortia and organisations worked to define interoperability standards and best practises.
- Hardware and software developments: Secure enclaves and trusted execution environments (TEEs), which offered secluded and secure locations for secret computation, are examples of current hardware developments. Additionally, software frameworks and tools were being created to make it easier for organisations of all sizes to adopt and implement secret computing solutions.
Key Industry Development
- Major hardware producers were making investments in the creation of hardware capabilities to facilitate confidential computing, including Intel, AMD, and ARM. When processing sensitive data, these features—like secure enclaves and TEEs—provided hardware-level protection.
- Cloud service providers like Microsoft Azure, Google Cloud, and IBM Cloud started providing their clients with confidential computing services. Through the use of secure enclaves and other technologies, these services enabled businesses to process delicate workloads on the cloud safely.
- Tools and software frameworks were developing to make the adoption of secret computing easier. Projects like the Intel SGX SDK, Microsoft Open Enclave, and the Fortanix EDP library for the Rust programming language gave programmers the tools they needed to create programmes that use secure enclaves for secret computing.
- Collaborations and partnerships between IT firms, start-ups, and academic institutions were formed to promote innovation and hasten the advancement of secure computing. These partnerships attempted to pool knowledge, assets, and research efforts to provide reliable and secure solutions for private computation.
- The idea of fusing blockchain technology and private computing is gaining popularity. Decentralised applications (dApps) now have improved privacy and security because to the integration of these two fields, allowing for the secure processing and storage of sensitive data on blockchain networks.
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