The North America Privacy Enhancing Technologies Market is expected to witness market growth of 24.2% CAGR during the forecast period (2024-2031).
The US market dominated the North America Privacy Enhancing Technologies Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of USD3.59 billion by 2031. The Canada market is experiencing a CAGR of 26.6% during 2024-2031. Additionally, the Mexico market would exhibit a CAGR of 25.9% during 2024-2031.
Telecommunications companies utilize PET to protect user data during communication. Technologies such as end-to-end encryption secure voice and video calls, preventing unauthorized access and ensuring users can communicate privately.
Additionally, e-commerce platforms apply PET to enhance customer trust by implementing privacy measures during transactions. Techniques like two-factor authentication and encryption secure personal and payment information, reducing the risk of identity theft and fraud.
The Canadian government's increasing investment in healthcare significantly affects the privacy enhancing technologies market, primarily due to the pressing need to protect sensitive patient information in a swiftly evolving digital health environment. As stated by the Government of Canada, a notable investment of USD196.1 billion over the next decade has been announced, which includes USD46.2 billion in new funding specifically targeted at enhancing healthcare services for Canadians. Furthermore, the government intends to allocate USD2.5 billion to support Indigenous health initiatives over the same period, resulting in a total investment of USD198.6 billion.
The US market dominated the North America Privacy Enhancing Technologies Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of USD3.59 billion by 2031. The Canada market is experiencing a CAGR of 26.6% during 2024-2031. Additionally, the Mexico market would exhibit a CAGR of 25.9% during 2024-2031.
Telecommunications companies utilize PET to protect user data during communication. Technologies such as end-to-end encryption secure voice and video calls, preventing unauthorized access and ensuring users can communicate privately.
Additionally, e-commerce platforms apply PET to enhance customer trust by implementing privacy measures during transactions. Techniques like two-factor authentication and encryption secure personal and payment information, reducing the risk of identity theft and fraud.
The Canadian government's increasing investment in healthcare significantly affects the privacy enhancing technologies market, primarily due to the pressing need to protect sensitive patient information in a swiftly evolving digital health environment. As stated by the Government of Canada, a notable investment of USD196.1 billion over the next decade has been announced, which includes USD46.2 billion in new funding specifically targeted at enhancing healthcare services for Canadians. Furthermore, the government intends to allocate USD2.5 billion to support Indigenous health initiatives over the same period, resulting in a total investment of USD198.6 billion.
List of Key Companies Profiled
- IBM Corporation
- Microsoft Corporation
- Google LLC (Alphabet Inc.)
- Intel Corporation
- SAP SE
- Inpher
- Thales Group S.A.
- OneTrust, LLC
- TrustArc Inc.
- Oracle Corporation
Market Report Segmentation
By Component
- Software
- Services
By Type
- Cryptographic Technique
- Anonymization Technique
- Pseudonymization Technique
By Application
- Compliance Management
- Risk Management
- Reporting & Analytics
- Other Applications
By End Use
- BFSI
- IT & Telecom
- Government
- Retail
- Manufacturing
- Healthcare
- Other End Use
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America Privacy Enhancing Technologies Market by Component
Chapter 6. North America Privacy Enhancing Technologies Market by Type
Chapter 7. North America Privacy Enhancing Technologies Market by Application
Chapter 8. North America Privacy Enhancing Technologies Market by End Use
Chapter 9. North America Privacy Enhancing Technologies Market by Country
Chapter 10. Company Profiles
Companies Mentioned
Some of the key companies in the North America Privacy Enhancing Technologies Market include:- IBM Corporation
- Microsoft Corporation
- Google LLC (Alphabet Inc.)
- Intel Corporation
- SAP SE
- Inpher
- Thales Group S.A.
- OneTrust, LLC
- TrustArc Inc.
- Oracle Corporation
Methodology
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