Homomorphic Encryption Market to Witness Astonishing Growth by Forecast 2023-2030

Global Homomorphic Encryption Market was valued at USD 167.01 million in 2021 and is expected to reach USD 278.52 million by the year 2028, at a CAGR of 7.58%.
Homomorphic encryption works by converting data into ciphertext, ensuring that it never loses its originality during processing or transmission. It enables complex calculations on encrypted data without jeopardizing the security of the data. This technology is expected to play a major role in the cloud industry, as changes are already being made. Homomorphic encryption allows businesses to exchange and compute data while keeping important and confidential information secure.