Key Players
Competitive Landscape
Four business models shape competition in homomorphic encryption: open-source cryptography groups, enterprise privacy software companies, processor developers and confidential blockchain infrastructure providers. Their commercial positions differ because each model addresses a different part of the encrypted workload path.
Commercial investment has moved into confidential blockchain infrastructure and deployable encrypted AI since 2025. Zama closed a USD 57 million Series B in June 2025 to launch its protocol. Cornami and DESILO announced a deployable FHE-based large language model in September 2025. Price remains relevant, although engineering teams sort suppliers first on workload coverage, measured latency and integration evidence.
Company developments mapped to drivers, trends and opportunities (2026-2036)
| Development | Driver | Trend | Opportunity |
|---|---|---|---|
| Duality Technologies and Red Hat partnered in June 2026 to deploy privacy-preserving AI across sovereign and regulated environments. | Institutions want collaborative AI without centralizing protected records or surrendering control over deployment architecture. | Enterprise platforms are combining homomorphic encryption with established hybrid-cloud and open-source infrastructure. | Integration services and recurring platform support become available for regulated multi-organization AI programs. |
| Cornami and DESILO announced a deployable FHE-based large language model in September 2025. | Organizations need confidential model inference that protects prompts and proprietary data during external processing. | Acceleration specialists are moving encrypted AI from isolated benchmarks toward deployable model-serving systems. | Revenue becomes available in accelerator hardware, deployment engineering and performance-qualified encrypted inference. |
| Zama closed a USD 57 million Series B in June 2025 to launch its confidential blockchain protocol. | Application developers need public blockchain execution without exposing transaction inputs or contract state. | FHE providers are building protocol infrastructure and developer networks instead of selling libraries alone. | Protocol fees, developer services and confidential decentralized applications provide new commercial routes. |
IBM Corporation, Microsoft Corporation, Google LLC, Enveil, Inc. and Intel Corporation compete through maintained libraries, encrypted search and processor support, while the table limits itself to three developments that changed funding, deployment or channel access.
Source: Future Market Insights, Homomorphic Encryption Market and Privacy Enhancing Technology Market Reports, 2026-2036.
Zama and Duality Technologies alongside Cornami cover confidential blockchain execution and federated analytics plus encrypted model inference and acceleration, while Enveil reports NIAP Common Criteria certification for ZeroReveal.
Which suppliers provide maintained FHE libraries and developer toolchains?
IBM maintains HElib and publishes reusable FHERMA components for common encrypted operations. Microsoft maintains SEAL, while Google develops the HEIR compiler and Zama maintains TFHE-rs for developer-led application work.
Which companies support multi-organization enterprise analytics?
Duality Technologies supports federated analytics across distributed datasets and different organizational schemas. Enveil focuses on encrypted search and machine learning across data silos, while IBM provides reusable components for privacy-preserving application design.
Which suppliers address acceleration and production throughput?
Intel contributes processor software and accelerator research that targets encrypted computation under demanding production throughput and latency requirements. Cornami develops purpose-built computing architecture for FHE workloads, while Zama supports CPU and GPU backends that let teams compare implementation choices.
Which suppliers serve North America and Europe?
Duality Technologies and Enveil operate across North American and European enterprise programs. IBM, Microsoft, Google and Intel serve global developer communities, while France-based Zama reaches international protocol developers and Cornami works through United States operations and technology partners.
Representative Company Overview
| Company | Positioning | Verified market-relevant capabilities |
|---|---|---|
| IBM Corporation | Global | HElib research resources and FHERMA components for comparison, sorting and matrix operations. |
| Microsoft Corporation | Global | SEAL library for encrypted computation; version 4.4.0 security update in July 2026. |
| Google LLC | Global developer community | HEIR compiler infrastructure and FHE transpiler research for encrypted application development. |
| Zama | Europe and global developer markets | TFHE-rs and confidential blockchain protocol; USD 57 million Series B in June 2025. |
| Duality Technologies Inc. | North America and Europe | OpenFHE-based enterprise analytics and federated workflows; Red Hat partnership in June 2026. |
| Enveil, Inc. | North America and Europe | ZeroReveal encrypted search and machine learning; NIAP Common Criteria certification reported by the company. |
| Intel Corporation | Global | Processor software and accelerator research for homomorphic encryption under standards and government programs. |
| Cornami, Inc. | United States and partner markets | Purpose-built encrypted-compute architecture; deployable FHE-based large language model announced with DESILO in September 2025. |
Competitive Landscape Research Methodology
These companies illustrate market structure rather than a ranking and appear only with current evidence of market activity. Eligible evidence covers homomorphic encryption software and enterprise analytics alongside confidential blockchain execution or acceleration. Sources include company releases and maintained repositories together with research publications, filings and certification records tied to the relevant entity. Registrations remain attributed to the site or entity holding them, while the 61.0% software share remains an FMI estimate for 2026.
