Global Fully Homomorphic Encryption Market Size, Trends, and Growth Opportunity, By Component (Solution, Services), Sales Channel (Direct Channel, Distribution Channel), Enterprise Size (Small and Medium-Sized Enterprises (SMEs), Large Enterprises), Application (Secure Data Computation, Data Privacy, Data Monetization, Regulatory Compliance), End-Use (Banking, Financial Services and Insurance (BFSI), Healthcare, Government, Industrial, IT, and Telecommunications, Manufacturing, Energy, and Utilities, Others) By Region and forecast till 2027.
Global Fully Homomorphic Encryption Market
The global Fully Homomorphic Encryption Market was valued at USD 162.9 Million in 2021 and is slated to reach USD 246.29 Million by 2027 at a CAGR of 25.54% from 2022-2027.
Generally speaking, homomorphic encryption enhances privacy while also ensuring secure data transmission. It is a kind of encryption that enables calculations to be made on ciphertext in order to produce an encrypted result. To protect data effectively, data encryption is necessary. Complicated mathematical operations can be carried out on encrypted data with homomorphic encryption, without the encryption being compromised. Additionally, by preventing information from being lost in order to gain authorised access, this helps to control the data. Valued data is frequently protected using homomorphic encryption.
Market Drivers
From 2023 to 2030, the managed services sector is expected to grow at a rapid pace in the fully homomorphic encryption market. This is primarily due to the growing popularity of managed services as a cost-effective way for businesses to meet regulatory requirements without the need for dedicated IT teams. The amount of data on the cloud is also growing quickly in a rapidly expanding multi-cloud environment. The market demand for fully homomorphic encryption may rise as a result of the development of managed encryption services as important tools for businesses to develop reliable encryption standards. Growth in the market is anticipated during the forecast period as a result of government agencies adopting fully homomorphic encryption technologies more frequently. The increasing use of encryption tools by federal agencies is largely due to recent developments in homomorphic encryption techniques that guarantee compatibility with legacy systems. In addition, a lot of government organisations still operate in antiquated IT environments and employ outdated encryption methods that can only support specific file types. The market will probably grow as a result of these factors.
Market Restraints
Lack of knowledgeable cybersecurity specialists, such as fraud analysts, may impede the market's expansion. 60% of respondents in India reported having open positions in cyber security, according to the eighth annual survey by ISACA. During the projected period, this limitation might limit market expansion. The biggest and most important obstacle to the expansion of the fully homomorphic encryption market over the course of the forecast period will be the rising risk of data leakages, including those involving personal information, internal corporate documents, and email data.
Impact of COVID-19
The COVID-19 pandemic has had a global impact on businesses due to restrictions and lockdowns. This restriction has also resulted in a higher rate of adoption of the work-from-home culture, which has eventually increased the demand for secure data transmission. This has aided the growth of the homographic encryption market in recent years. 
Recent Developments
Fully homomorphic encryption (FHE), a new technology created to keep data encrypted while it is being analysed or processed in the cloud or in a third-party environment, was made available to businesses as part of a new service by IBM Security in 2020.
Enveil, a pioneering data security company based in the United States, announced in 2020 that it had raised approximately $10 million for enterprise-scale homomorphic encryption. This organization is also looking for ways to facilitate collaboration, secure data sharing, and secure monetization.
Market Segmentation
Global Fully Homomorphic Encryption Market By Component, Sales Channel, Enterprise Size, Application, End-Use. By Components such as Solutions, Services. By Sales Channels such as Direct channels, Distribution channels. By Enterprise Size such as Small and Medium-Sized Enterprises (SMEs), Large Enterprises. Applications such as Secure Data Computation, Data Privacy, Data Monetization, and Regulatory Compliance. By End-Use such as Banking, Financial Services and Insurance (BFSI), Healthcare, Government, Industrial, IT, Telecommunications, Manufacturing, Energy and Utilities, and Others.
Regional Analysis
The global Fully Homomorphic Encryption Market is segmented into five regions Americas, Europe, Asia-Pacific, and the Middle East & Africa. Because of the growing number of small and medium-sized businesses and advanced medical facilities in this region, North America dominates the fully homomorphic encryption market. Furthermore, the expansion and growth of the healthcare sector, combined with the increasing use of homomorphic encryption technology, will drive market growth. Due to rapid industrialization, Asia-Pacific will continue to project the highest compound annual growth rate during the forecast period of 2022-2027, increasing the adoption of homomorphic encryption solutions among enterprises in this region. Furthermore, the expansion and growth of the banking and finance industry will boost the market growth.
Key Players
This report includes a list of numerous Key Players, namely CryptoExperts (France), Enveil (U.S.), Huawei Technologies Co., Ltd. (China), Zama (India), Zaiku Group LTD (U.K.), Desilo (South Korea), Thales Group (France), Enveil (U.S.), Duality (U.S.), ShieldIO (U.S.).
Market Taxonomy  
By Component
• Solution
• Encrypted Data Analytics
• Encrypted AI/ML Data Modelling
• Encrypted Data Linkage
• Encrypted Database Querying
• Encrypted Biometrics and Behavioral Data
• Services
• Professional
• Managed
By Sales Channel
• Direct Channel
• Distribution Channel
By Enterprise Size
• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises
By Application
• Secure Data Computation
• Data Privacy
• Data Monetization
• Regulatory Compliance
By End-Use
• Banking, Financial Services, and Insurance (BFSI)
• Healthcare
• Government
• Industrial
• IT and Telecommunications
• Manufacturing
• Energy and Utilities
• Other
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa.

Global Fully Homomorphic Encryption Market 
1 Introduction 
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Fully Homomorphic Encryption Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing Economic Downturn
4.2.6 Post Covid-19 World Supply and Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Fully Homomorphic Encryption Market, By Sales Channel
5.1 Y-o-Y Growth Comparison, By Sales Channel
5.2 Global Fully Homomorphic Encryption Market Share Analysis, By Sales Channel
5.3 Global Fully Homomorphic Encryption Market Size and Forecast, By Sales Channel
5.3.1 Direct Channel
5.3.2 Distribution Channel
6 Global Fully Homomorphic Encryption Market, By Component
6.1 Y-o-Y Growth Comparison, By Component
6.2 Global Fully Homomorphic Encryption Market Share Analysis, By Component
6.3 Global Fully Homomorphic Encryption Market Share Analysis, By Component
6.3.1 Solution
6.3.2 Encrypted Data Analytics
6.3.3 Encrypted AI/ML Data Modelling
6.3.4 Encrypted Data Linkage
6.3.5 Encrypted Database Querying
6.3.6 Encrypted Biometrics and Behavioral Data
6.3.7 Services
6.3.8 Professional
6.3.9 Managed
7.Global Fully Homomorphic Encryption Market , By Application
7.1 Y-o-Y Growth Comparison, By Application
7.2 Global Fully Homomorphic Encryption Market Share Analysis, By Application
7.3 Global Fully Homomorphic Encryption Market Share Analysis, By Application
7.3.1 Secure Data Computation
7.3.2 Data Privacy
7.3.3 Data Monetization
7.3.4 Regulatory Compliance
8.Global Fully Homomorphic Encryption Market , By Enterprise Size
8.1 Y-o-Y Growth Comparison, By Enterprise Size
8.2 Global Fully Homomorphic Encryption Market Share Analysis, By Enterprise Size
8.3 Global Fully Homomorphic Encryption Market Share Analysis, By Enterprise Size
8.3.1 Small and Medium-Sized Enterprises (SMEs)
8.3.2 Large Enterprises
9.Global Fully Homomorphic Encryption Market , By End-Use
9.1 Y-o-Y Growth Comparison, By End-Use
9.2 Global Fully Homomorphic Encryption Market Share Analysis, By End-Use
9.3 Global Fully Homomorphic Encryption Market Share Analysis, By End-Use
9.3.1 Banking, Financial Services and Insurance (BFSI)
9.3.2 Healthcare
9.3.3 Government
9.3.4 Industrial
9.3.5 IT and Telecommunications
9.3.6 Manufacturing
9.3.7 Energy and Utilities
9.3.8 Other
10 Global Fully Homomorphic Encryption Market, By Region
10.1 Global Fully Homomorphic Encryption Market Share Analysis, By Region
10.2 Global Fully Homomorphic Encryption Market Share Analysis, By Region
11 North America Medical Drones and Forecast (2022-2027)
11.1 Introduction
11.2 North America Fully Homomorphic Encryption Market Share Analysis, By Sales Channel
11.3 North America Fully Homomorphic Encryption Size and Forecast, By Component
11.4 North America Fully Homomorphic Encryption Market, By Application
11.5 North America Fully Homomorphic Encryption Market Size and Forecast, By Enterprise Size
11.6 North America Fully Homomorphic Encryption Market Share Analysis, By End-Use
11.7 North America Fully Homomorphic Encryption Market Size and Forecast, By Country
11.7.1 U.S
11.7.2 Canada
11.7.3 Mexico
12 Europe Fully Homomorphic Encryption Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Europe Fully Homomorphic Encryption Market Share Analysis, By Sales Channel
12.3 Europe Fully Homomorphic Encryption Market Size and Forecast, By Component
12.4 Europe Fully Homomorphic Encryption Market, By Application
12.5 Europe Fully Homomorphic Encryption Market Size and Forecast, By Enterprise Size
12.6 Europe Fully Homomorphic Encryption Market Share Analysis, By End-Use
10.7 Europe Fully Homomorphic Encryption Market Size and Forecast, By Country
12.7.1 Germany
12.7.2 France
12.7.3 UK
12.7.4 Rest of Europe
13 Asia Pacific Fully Homomorphic Encryption Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Asia-Pacific Fully Homomorphic Encryption Market Size and Forecast, By Sales Channel
13.3 Asia-Pacific Fully Homomorphic Encryption Market Size and Forecast, By Component
13.4 Asia-Pacific Fully Homomorphic Encryption Market, By Application
13.5 Asia-Pacific Fully Homomorphic Encryption Market Size and Forecast, By Enterprise Size
13.6 Asia-Pacific Fully Homomorphic Encryption Market Share Analysis, By End-Use
11.7 Asia-Pacific Fully Homomorphic Encryption Market Size and Forecast, By Country
11.7.1 China 
11.7.2 Japan
11.7.3 India
11.5.4. Rest of Asia Pacific
14 Latin America Fully Homomorphic Encryption Market Analysis and Forecast (2022-2027)
14.1 Introduction
14.2 Latin America Fully Homomorphic Encryption Market Size and Forecast, By Sales Channel
14.3 Latin America Fully Homomorphic Encryption Market Size and Forecast, By Component
14.4 Latin America Fully Homomorphic Encryption Market , By Application
14.5 Latin America Fully Homomorphic Encryption Market Size and Forecast, By Enterprise Size
14.6 Latin America Fully Homomorphic Encryption Market Share Analysis, By End-Use
14.7 Latin America Fully Homomorphic Encryption Market Size and Forecast, By Country
14.7.1 Brazil
14.7.2.Rest of Latin America
15 Middle East Fully Homomorphic Encryption Market Analysis and Forecast (2022-2027)
15.1 Introduction
15.2 Middle East Fully Homomorphic Encryption Market Share Analysis, By Sales Channel
15.3 Middle East Fully Homomorphic Encryption Market Size and Forecast, By Component
15.4 Middle East Fully Homomorphic Encryption Market, By Application
15.5 Middle East Fully Homomorphic Encryption Market Size and Forecast, By Enterprise Size
15.6 Middle East Fully Homomorphic Encryption Market Share Analysis, By End-Use
15.7 Middle East Fully Homomorphic Encryption Market Size and Forecast, By Country
15.7.1. Saudi Arabia
15.7.2. UAE
15.7.2. Egypt
15.7.4. Kuwait
15.7.5. South Africa
16 Competitive Analysis
16.1 Competition Dashboard
16.2 Market share Analysis of Top Vendors
16.3 Key Development Strategies
17 Company Profiles
17.1. CryptoExperts (France)
17.1.1 Overview
17.1.2 Offerings
17.1.3 Key Financials
17.1.4 Business Segment & Geographic Overview
17.1.5 Key Market Developments
17.1.6 Key Strategies
17.2. Huawei Technologies Co., Ltd. (China)
17.2.1 Overview
17.2.2 Offerings
17.2.3 Key Financials
17.2.4 Business Segment & Geographic Overview
17.2.5 Key Market Developments
17.2.6 Key Strategies
17.3. Enveil (U.S.)
17.3.1 Overview
17.3.2 Offerings
17.3.3 Key Financials
17.3.4 Business Segment & Geographic Overview
17.3.5 Key Market Developments
17.3.6 Key Strategies
17.4. Zama (India)
17.4.1 Overview
17.4.2 Offerings
17.4.3 Key Financials
17.4.4 Business Segment & Geographic Overview
17.4.5 Key Market Developments
17.4.6 Key Strategies
17.5. Zaiku Group LTD (U.K.)
17.5.1 Overview
17.5.2 Offerings
17.5.3 Key Financials
17.5.4 Business Segment & Geographic Overview
17.5.5 Key Market Developments
17.5.6 Key Strategies
17.6. Desilo (South Korea)
17.6.1 Overview
17.6.2 Offerings
17.6.3 Key Financials
17.6.4 Business Segment & Geographic Overview
17.6.5 Key Market Developments
17.6.6 Key Strategies
17.7. Thales Group (France)
17.7.1 Overview
17.7.2 Offerings
17.7.3 Key Financials
17.7.4 Business Segment & Geographic Overview
17.7.5 Key Market Developments
17.7.6 Key Strategies
17.8. Enveil (U.S.)
17.8.1 Overview
17.8.2 Offerings
17.8.3 Key Financials
17.8.4 Business Segment & Geographic Overview
17.8.5 Key Market Developments
17.8.6 Key Strategies
17.9. Duality (U.S.)
17.9.1 Overview
17.9.2 Offerings
17.9.3 Key Financials
17.9.4 Business Segment & Geographic Overview
17.9.5 Key Market Developments
17.9.6 Key Strategies
17.10. ShieldIO (U.S.).
17.10.1 Overview
17.10.2 Offerings
17.10.3 Key Financials
17.10.4 Business Segment & Geographic Overview
17.10.5 Key Market Developments
17.10.6 Key Strategies