Confidential Computing Market Size
The evaluated market size for global confidential computing in 2022 amounted to $10 billion. It is projected to reach $19 billion by the end of 2030, exhibiting a compound annual growth rate (CAGR) of approximately 7.2% during the period from 2023 to 2030.
The Market for Confidential Computing: An Overview
Confidential computing is a technology that helps encrypt data and store it, which secures a person’s or a company’s private information.
This method can be used by both individuals and businesses. In addition to this, it is receiving significant support from a wide variety of hardware, software, and cloud suppliers.
In addition to this, confidential computing ensures that data remains private and secure in a wide variety of computing settings.
This enables businesses to process sensitive data in a secure manner, adhere to rules, and positively affect cloud computing activities.
In addition, confidential computing helps build trust by enabling data owners to continue exercising control over their data even when it is being processed by remote servers.
- According to the findings of the study that our research analyst has revealed, it is anticipated that the global market for confidential computing will rise at an annual growth rate of approximately 7.2% over the period of time that is forecasted (2023-2030).
- The revenue potential of the worldwide market for confidential computing was estimated to be close to $10 billion in 2022, and it is anticipated that this figure will increase to $19 billion by 2030.
- As the need to comply with government regulations, such as the General Data Protection Regulation and the California Consumer Privacy Act, becomes ever more pressing, it is projected that the market for confidential computing on a global scale will experience explosive growth over the course of the next few years.
- During the time period under consideration, it is anticipated that the services segment will have the highest CAGR in terms of components.
- Over the course of the projection period, the retail and online shopping market is expected to have the largest share of the end-user market based on the vertical.
- When broken down by geography, it is anticipated that the Asia-Pacific confidential computing market industry would record the highest CAGR over the course of the evaluation year.
The Market for Confidential Computing: Drivers of Expansion
To significantly contribute to the expansion of the global market, it is imperative to adhere to the data compliance regulations that are imposed by the government.
The global market for confidential computing will experience new trends as the necessity of complying with government rules, such as the General Data Protection Regulation and the California Consumer Privacy Act, becomes increasingly urgent.
In addition to this, confidential computing provides a secure environment and safeguards the confidential information of end-users; as a result, it can assist companies as well as end-users in protecting the privacy of their data and complying with the regulations of the government. Because of this feature, the growth of the global market will be accelerated.
It is said that private computing makes it easier for businesses to comply with HIPAA regulations by providing them with a safe setting in which to store and protect sensitive information.
In the next years, the expansion of the global market will be guided by stringent compliance laws that apply to a wide variety of businesses, including the government, the healthcare industry, and the financial sector.
The introduction of new products and services has been a significant driver of growth across many industries, and the private computer industry is no exception.
In the first part of 2023, for example, Microsoft Corporation announced the expansion of its confidential VM family by launching ECesv5-series and DCesv5-series virtual machines. This kind of initiative will help the progress of the global market.
The Confidential Computing Industry and Its Limitations
The global industry’s expansion throughout the years 2023-2030 may be hampered by rising prices for hardware and software.
The rise of the worldwide confidential computing sector will be slowed down by rising costs associated with the implementation and integration of cloud computing. In addition to this, growing prices for hardware and software can act as a barrier to the expansion of the worldwide sector. The expansion of the worldwide industry will be hampered by a significant increase in the costs of labor, an increase in software prices, and an increase in maintenance fees.
Confidential Computing Market: Competitive Space
The global confidential computing market profiles key players such as:
- Amazon Web Services (AWS)
- Ovh SAS
- Intel Corporation
- Alibaba Cloud
- Advanced Life Micro Devices Inc.
- Cyxtera Technologies
- Google LLC.
Opportunities Available in the Confidential Computing Market
Massive demand for private artificial intelligence services across a wide variety of end-use industries will drive the expansion of the global market.
The increasing demand for secure artificial intelligence solutions will create new opportunities for expansion in the worldwide confidential computing industry.
The expansion of the market in the years to come will be made possible by the massive demand for encrypted data protection systems that are secure.
The Challenges Facing the Confidential Computing Market
By the year 2030, the global industry may face its greatest challenge in the form of a diminished pool of skilled workers.
The global industry of secret computing is facing new hurdles as a result of a shortage of available competent individuals as well as the complexities associated with confidential computing.
In addition, the failure of small and medium-sized businesses to embrace new technologies would create an additional barrier to the growth of the global sector.