According to a new report, published by KBV research, The Global Confidential Computing Market size is expected to reach $211.3 billion by 2031, rising at a market growth of 56.5% CAGR during the forecast period.
The Software segment is leading the Global Confidential Computing Market by Component in 2023; thereby, achieving a market value of $102.4 billion by 2031. Software elements allow for safe input and output procedures in contexts where trusted execution is possible. Sensitive data is safeguarded throughout input and output activities because of the APIs and libraries they provide to manage secure communication channels, data encryption, cryptographic protocols, and decryption. Software libraries offer cryptographic algorithms and protocols to secure data and ensure computations' authenticity and reliability. These libraries provide cryptographic processes for confidential computing, including encryption, key generation, decryption, and digital signatures.
The Secure Enclaves segment is anticipating a CAGR of 56.8% during (2024 - 2031). A secure enclave creates a trustworthy TEE using a hardware-based mechanism within a processor. It offers a safe, secure environment where delicate calculations and data may be conducted with high security and integrity. Secure enclaves provide a border between the enclave and the rest of the system, cutting it off from other programs using the same hardware and the underlying operating system. Due to the enclave's isolation, neither privileged users nor malicious software may access or alter the data or computations.
The Cloud market is generating maximum revenue share in the Global Confidential Computing Market by Deployment Mode in 2023; thereby, achieving a market value of $124.2 billion by 2031. The segment's growth is because cloud computing stores different types of data on distant servers that may be further handled by others and are accessible through an internet connection. Additionally, "confidential" refers to keeping information safe from illegal access and limiting its usage to authorized individuals.
The IT & Telecom segment is registering a CAGR of 57.3% during (2024 - 2031). As telecommunications companies expand their network infrastructure and adopt advanced technologies like 5G, they handle massive amounts of sensitive data, including customer information and network performance metrics. Confidential computing provides a solution to protect this data while it is being processed, addressing privacy concerns and ensuring compliance with stringent regulations. Adopting confidential computing within IT and telecommunications also helps mitigate insider threats by ensuring that even users with elevated privileges cannot access sensitive data. At the same time, it is being processed, thus maintaining data integrity and privacy.
Full Report: https://www.kbvresearch.com/confidential-computing-market/
The North America region dominated the Global Confidential Computing Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $78.7 million by 2031. The Europe region is experiencing a CAGR of 56.2% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 57.9% during (2024 - 2031).
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