According to Marketing and Marketing Research Pvt. Limited, the global Secure Multi-Party Computing (SMPC) Market is expected to grow from $824 million in 2024 to $1,412 million in 2029 at a compound annual growth rate (CAGR) of 11.4%. This growth is driven by the increasing concerns around data breaches and privacy issues, leading organizations to seek secure ways to process and share sensitive information. SMPC offers a solution by allowing data to be jointly calculated without exposing it to all parties involved, driving the demand for SMPC solutions.
Key players in the Secure Multi-Party Computing marketplace include Microsoft, IBM, Google, Fire Blocks, Blockdaemon, Qredo, Penta Security, Zengo, Inpher, CYBAVO, and Liminal Custody. Trends in the market include the integration of cloud computing platforms to enhance computing power and storage capabilities while ensuring security through encryption and access control mechanisms. Additionally, homomorphic encryption (HE) is being utilized in SMPC to improve data privacy and security during collaborative computations.
In terms of offerings, the solutions segment holds a significant market share by allowing multiple parties to collaboratively perform calculations on data while keeping individual inputs private. By distributing cryptographic keys among parties, SMPC eliminates single points of failure and enhances security. The cloud deployment mode is expected to see the highest CAGR during the forecast period, offering a secure solution for data analytics in privacy-conscious environments.
Opportunities in the market include the adoption of advanced technologies like Artificial Intelligence (AI) and Machine Learning (ML), which drive the need for privacy-preserving solutions like SMPC. As AI and ML continue to expand across various sectors, the demand for SMPC solutions is expected to grow, leading to innovation within the market.
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https://finance.yahoo.com/news/secure-multiparty-computation-market-1-140000778.html