As per our research report, the Global Confidential Computing Market size is estimated to be growing at a CAGR of 8.35% from 2024 to 2030.
COVID-19 had an impact on supply chains around the world which resulted in disruptions to the production and delivery of hardware material for computing systems. Organizations were forced to reevaluate their timelines for implementing computing technologies which led to delays. However, this situation also shifted in direction and necessary adjustments in the sectors. In response to the evolving business landscape organizations quickly adopted cloud computing solutions, online services, and digital platforms. This increased trust in infrastructure and emphasized security measures and confidential data processing. Organizations prefer safeguards that can protect data while enabling remote access and collaboration. Consequently, this is expected to drive the growth of computing technology.
Cloud computing techniques have received support from a variety of hardware, software, and cloud vendors due to fast growth. Confidential computing is to maintain data privacy and security in various computing scenarios that enable organizations to securely process sensitive information, regulations, and further benefits of cloud computing without compromising data confidentiality. Therefore, confidential computing enhances trust in cloud environments by allowing owners to maintain control over their data even when it's processed on remote servers. There will be less risk of data exploitation.
Confidential computing can pose a challenge for enterprises and organizations with limited IT resources. The reason behind this is that the technology behind is still relatively new and continuously developing. It requires expertise in areas such as encryption, secure enclaves, Analysts, and trusted execution environments which may not be easily available in organizations. It required an experienced person to handle it. Additionally integrating computing solutions with current IT infrastructure can be quite complex. Testing and debugging are essential to ensure that the functions work correctly, without introducing any vulnerabilities or compatibility issues. The difficulty of confidential computing can also pose deployment and administration issues.
The computing market is expected to grow in the forecasted years driven by the growing significance of government regulations, like the General Data Protection Regulation. In 2022, Google Cloud introduced an isolated environment called a confidential environment which enables organizations to collaborate on work.
KEY MARKET INSIGHTS:
Based on the Component, software has the largest segment in the market with a share of about 25%. The services segment is fastest growing in the computing market with a forecasted compound annual growth rate (CAGR) of 25% from 2023 to 2030. Services such as consulting, implementation, and support play a role in the sector of computing.
Based on the Deployment, Cloud occupies the largest segment with a share of about 25% in the market. On-premise deployment is experiencing the highest growth among all deployment types with a Compound Annual Growth Rate (CAGR) of 20%, for the forecasted period.
Based on the Enterprise Type, large enterprises occupy the largest segment with a share of about 85% in the market. With a CAGR of 25% during the predicted year, SMEs are the fastest growing in the enterprise type. Large organizations dominate due to large spending for IT security and compliance and also for more sophisticated IT environments.
Based on the Application, Privacy and security occupy the largest segment with a share of about 60% in the market. The IoT & edge application is experiencing growth in the projected year with a 40% CAGR.
Based on the Industry, BFSI occupies the largest segment with a share of about 30% in the market. Healthcare and life sciences are significantly experiencing growth with a projected compound growth rate (CAGR) of 35%. The BFSI sector holds a position, due to its global regulation. On the other hand, the healthcare and life science industry is witnessing the fastest growth in the confidential computing market.
Based on the region, North America occupies the largest region with a share of about 40% of the market. Asia Pacific is experiencing the fastest growth with a projected compound growth rate (CAGR) of 15%. Asia Pacific is growing fast due to the rise in investment in advanced technologies, such as cloud-based services and digitalization are anticipated to propel the growth of the confidential computing market. However, Asia Pacific is expected to witness significant growth during the forecast year, due to the increase in investments in IT, ML, AI, IoT, and connected devices.
Companies playing a leading role in the Global Confidential Computing Market profiled in this report are Amazon Web Services Inc., Advanced Micro Devices Inc., Cyxtera Technologies Inc., Microsoft Corporation, Ovh SAS, Fortanix, Intel Corporation, International Business Machines Corporation, Alibaba Cloud, and Google LLC.
Privacy & Security
IoT & Edge
Personal Computing Devices
Retail & Consumer Goods
Healthcare & Life Science
Government & Public Sector
IT & Telecom
Middle East and Africa
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