Confidential Computing is an emerging technology that employs hardware-based security features to protect data during while being processes. This involves creating secure enclaves, or isolated hardware areas, specifically designed to safeguard sensitive information. Unlike traditional cybersecurity measures that primarily focus on protecting data at rest or in transit, confidential computing fills the security gap by protecting data in use, offering a more comprehensive data protection approach.
According to a report by Everest Group, the confidential computing market is poised for significant growth in the coming years, fueled by enterprise cloud and security initiatives. Everest's report estimates the market for this technology could surpass $54 billion by 2026.
Cybersecurity has become an increasingly pressing concern in today’s digital age, as the number of successful cyber attacks and data breaches continues to grow each year. According to a report by Cybersecurity Ventures, the cost of cybercrime is estimated to reach a staggering $6 trillion annually by 2021, a significant increase from the $3 trillion cost in 2015. Not only are corporations at risk of cyber attacks, but governments are also planning to dramatically invest their cybersecurity budgets. The proposed White House budget for 2024 sits at $6.8 trillion and calls for an increase in investment in cybersecurity, including substantial investments in tech innovation to compete with foreign adversaries and an expanded budget for the Cybersecurity and Infrastructure Security Agency (CISA). In fact, The White House unveiled an ambitious national cybersecurity strategy, focusing on investing in a resilient future by minimizing systemic technical vulnerabilities and prioritizing cyber research and development for next-generation technologies.
HUB Cyber Security (NASDAQ: HUBC) is an Israeli cyber technologies company Founded in 2017 by experts from Israel's elite intelligence and cyber units. HUB specializes in cutting-edge cybersecurity solutions aimed at safeguarding sensitive commercial and government data. The company is a leading developer of confidential computing technology and recently introduced an advanced encrypted computing solution designed to thwart hostile hardware-level intrusions while presenting a unique set of data theft prevention tools.
Given the importance The White House and other governments see in solving systemic vulnerabilities, Confidential computing is likely to play a critical role in their budgets, given its relevance to securing data in all phases. It seems that HUB Cyber Security appears to be a fitting candidate to address this challenge, given its expertise in the field. Regardless, given the growing market for confidential computing and the increasing need for data-security, HUB is well positioned to flourish.
Interestingly, just a few days ago, HUB announced the appointment of former Deputy Secretary of Defense John C. Rogers to its advisory board, a move that could help secure additional government contracts. Rogers brings over 25 years of experience in technology, security, public policy, and global challenges. He has held positions at the United States Department of Defense and led a billion-dollar mobility company as CEO. The company is set to host an investor event on March 28th, where management will discuss business progress, new developments, vision, and strategic plans.
Disclaimer: The content above does not constitute financial advice. The Future of Cyber Security Institute (FCSI) is a digital thought brand under The Future Markets Research Tank, offering commentary and exploration into the current and future state of the cyber security industry. Read our disclaimers: https://www.futuremarketsresearch.com/disclaimers
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