The global confidential computing market value is expected to rise from US$ 5.5 billion in 2024 to US$ 692 billion by 2034. This estimated growth is expected to be driven by a skyrocketing CAGR of 62.3% in the confidential computing industry over the next decade.
Confidential computing is gaining significance in the healthcare sector as the use of technologies like machine learning and artificial intelligence for insights has generated large volumes of data over the historical period. The abundance of personal data used in the healthcare sector has increased the deployment of confidential computing to maintain data security.
Over the forecast period, cloud-based confidential computing is expected to be deployed at a rapid pace as several businesses are expected to prefer the cloud-based deployment mode for its convenience. Additionally, the wide-spanning applications of confidential computing are projected to multiply its growth rate.
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“Key players are expected to opt for collaborations to simplify the development and functionality of confidential computing applications, thus raising its adoption rate,” says an analyst of Future Market Insights.
Key Takeaways from the Confidential Computing Market Report
- The confidential computing market recorded a CAGR of 66.4% in the historical period.
- Based on component, the service segment is anticipated to register a CAGR of 62.1% over the forecast period.
- Based on deployment mode, the on-premise segment is projected to robustly expand at a CAGR of 61.8% through 2034.
- The United States is an important market for the business of confidential computing. This market is anticipated to generate revenue worth US$ 124.4 billion by 2034.
- China comes second in rank for its importance in the global confidential computing market. The Chinese confidential computing market is projected to propel at a staggering 63.3% CAGR to reach US$ 108.5 billion by 2034.
- In Europe, the United Kingdom holds significant influence in the region. By 2034, the market is estimated to attain US$ 27.4 billion.
Competitive Landscape
Market players, such as AMD, Intel, NVIDIA, and ARM, are substantially investing in confidential computing technologies like AMD SEV, Intel SGX, and ARM TrustZone. These investments are aimed at increasing performance, ease of use, and scalability. Additionally, players are actively engaged in open-source projects to encourage collaboration and intensify the development of standardized solutions.
Market players are partnering with software vendors and cloud providers to make technology adoption easier for developers. Furthermore, players are customizing their solutions to address the unique privacy and security issues faced by various industries like finance, healthcare, and government in order to capture potential clients.
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Latest Developments that are Transforming the Confidential Computing Market
- In June 2023, VMware, Inc. announced at Confidential Computing Summit 2023 that it is going to collaborate with industry leaders like Samsung, AMD, and members of RISC-V Keystone Community to ease the development and operations of confidential computing apps. The industry leaders are going to work together to smoothen the transition to practical confidential computing.
- In July 2023, NVIDIA and Intel, the leading chip rivals, united in a “coopetition” collaboration to develop confidential computing solutions for AI workloads.
In September 2023, Intel and Thales joined forces to improve trust in confidential computing. This collaboration leverages Intel’s Trust Authority and Thales’ CipherTrust Data Security Platform to develop end-to-end data security with the help of confidential computing
Confidential Computing Industry by Category
By Component:
- Service
- Hardware
- Software
By Deployment Mode:
- On-premise
- Cloud
By End User:
- BFSI
- IT and Telecom
- Healthcare
- Retail and E-commerce
- Manufacturing
- Government and Public Sector
- Others
By Application:
- Data Security
- Secure Enclaves
- Pellucidity between Users
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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