United States Homomorphic Encryption market is expected to reach 62.22 million USD by the end of 2022 QYRESEARCH FOCUS ON MARKET SURVEY AND RESEARCH
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Homomorphic encryption is a form of encryption that allows computation on ciphertexts, generating an encrypted result which, when decrypted, matches the result of operations performed on the plaintext. The purpose of homomorphic encryption is to allow computation on encrypted data. The Homomorphic Encryption is mainly classified into the following types: Partially Homomorphism, Somewhat Homomorphism and Fully Homomorphism. And Fully Homomorphism is the most widely used type which took up about 50.18% of the total in 2016 in USA
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QYResearch Homomorphic Encryption is mainly used in Industrial, Government, Financial & Insurance, Health Care and Others. And Government is the most widely used area which took up about 30.98% of the USA total in 2016. The South is the largest area of Homomorphic Encryption in the USA in the past few years and it will keep increasing in the next few years. The United States Homomorphic Encryption market size was 40.17 million USD in 2016 and is expected to reach 62.22 million USD by the end of 2022, growing at a CAGR of 7.57% between 2016 and 2022
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Market barriers of Homomorphic Encryption are high, the main players are Microsoft, IBM, Galois and CryptoExperts, amony those, IBM mastered the most advanced technology, Microsoft made great progress in the healthcare and biotechnology area; Galois got strong support from DARPA; CryptoExperts is a young start-up company with a huge future, and now, they are cooperating to standardize homomorphic encryption.
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