Head over to our on-demand library to view sessions from VB Transform 2023. Register Here

Research firm Everest Group recently published a report that projects the trajectory of the confidential computing market could grow to $54 billion by 2026. This exponential growth is being fueled by enterprise cloud and security initiatives, expanding regulations, especially in privacy-sensitive industries such as health care and financial services.

Graphic. The confidential computing market is likely to grow exponentially over the next few years, driven by enterprise cloud and security initiatives. Key takeaways: The total addressable market for CC is likely to grow at least 26x over the next five years in the best-case scenario due to growing enterprise awareness of confidential computing. The CC hardware and software markets are poised for exponential growth backed by expanding regulations, demand for comprehensive security postures, and appetite for new revenue generators. Multi-party computing and security-specific use cases across industries will be the biggest growth drivers for the technology. Technology-first enterprises within regulated industries such as banking, financial services, insurance, health care, and life sciences expected to drive growth acceleration across 60% of the market. Large technology markets in North America and APAc constitute the lion's share of the market followed by highly regulated markets in Europe.

All segments of confidential computing are poised for growth, including software, hardware, and services. Regulated industries are expected to dominate the adoption of confidential computing, with over 75%  of the demand driven by regulated industries such as banking, finance, and healthcare.

“We continue to see data breaches resulting from gaps in infrastructure security because it is very hard to protect infrastructure,” said David Greene, head of the Confidential Computing Consortium (CCC)’s outreach committee and chief revenue officer of Fortanix. “Confidential computing takes a different approach by focusing on protecting the data, even when it is in use, which is just not possible using any other technology.”

Event

VB Transform 2023 On-Demand

Did you miss a session from VB Transform 2023? Register to access the on-demand library for all of our featured sessions.

 

Register Now

“This research validates Anjuna’s own experience that confidential computing is poised for dramatic growth as the way to keep data secure by default,” added Ayal Yogev, member of the CCC and cofounder and CEO of Anjuna Security. The adoption of this technology is seen “As a key factor in allowing enterprises to migrate even their most sensitive workloads to the cloud simply and securely.”

The ability to utilize and share rich data without compromising security and privacy can help accelerate the advancement of solutions and services that benefits both industry and consumers. Some use cases the report identifies include collaborative analytics for anti-money laundering and fraud detection, research and analytics on patient data and drug discovery, and treatment modeling and security for IoT devices.

Read the full report by Everest Group.

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.