_Market.JPG)
Secure Multiparty Computation (SMPC) Market Size is valued at USD 766.9 Mn in 2023 and is predicted to reach USD 1,642.8 Mn by the year 2031 at a 10.26% CAGR during the forecast period for 2024-2031.
The secure multiparty computation (SMPC) market revolves around technologies enabling multiple parties to compute a function collaboratively without revealing their private inputs. The growing demand for privacy-preserving computations in sectors like finance, healthcare, and government propels this market. SMPC solutions offer a way to balance data utility with privacy, addressing concerns in an era of increasing data breaches and privacy regulations.
However, the market faces challenges such as performance optimization, user adoption, and the need for standardized protocols. Hence the market factors globally are expected to boost the market expansion in the next coming years.
The COVID-19 pandemic accelerated the adoption of secure multiparty computation (SMPC) as remote work and digital collaboration surged, heightening the need for secure data sharing. Organizations sought robust solutions to protect sensitive information amid increased cyber threats and data breaches. However, the pandemic also strained budgets and delayed some technology investments, creating a mixed impact. While awareness and demand for SMPC grew, economic uncertainties and shifting priorities temporarily slowed market expansion. Overall, COVID-19 underscored the importance of advanced data security, positioning SMPC for significant future growth as part of resilient cybersecurity strategies.
The secure multiparty computation (SMPC) market is segmented on the basis of offering, deployment mode, and vertical. By Offering, this market is segmented into Solution, Services. The Deployment Mode segment consists of Cloud and On-Premises. As per the Vertical segment, the market is divided, Banking, Financial Services, and Insurance (BFSI), IT & ITeS, Government, Healthcare, Retail and eCommerce.
Fraudsters' operations are growing more advanced and widespread. Nevertheless, technological progress is continuously matching the speed of these dangers. Although it is crucial to have more cooperation among stakeholders, it frequently presents considerable difficulties. SMPC allows enterprises and financial institutions to interact with specific persons without compromising their sensitive information, thus building confidence and facilitating the implementation of sophisticated solutions that offer reassurance to all parties concerned.
Utilizing cloud computing for secure multi-party computation (SMPC) provides an appealing resolution for data analysis in the present day where privacy is a significant concern. By utilizing Secure Multi-Party Computation (SMPC) in the cloud, numerous entities can engage in collaborative operations that involve sensitive data, while ensuring that no participant has access to the unprocessed information of others. This allows for the extraction of useful data insights from merged datasets across several companies, such as healthcare institutions studying illness patterns or banking institutions together identifying fraud. Cloud-based Secure Multi-Party Computation (SMPC) enables secure cooperation by ensuring compliance with data privacy standards and maintaining control over sensitive information for each party involved.
The APAC (Asia Pacific) geographical region is growing at the fastest rate in the SMPC market due to several key factors driving the demand for secure computation. Rapid economic growth and technological advancements, particularly in blockchain technology and digital wallets, necessitate efficient computation of data, prompting the adoption of SMPC. Asia Pacific’s diverse and interconnected markets require secure methods for cross-border data collaboration. SMPC facilitates secure data sharing and joint computations between organizations in different countries, supporting regional economic integration. These factors collectively contribute to the rapid growth of the SMPC market in the Asia Pacific region, positioning it as a frontrunner in the adoption of integrated security solutions.
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 766.9 Mn |
|
Revenue Forecast In 2031 |
USD 1,642.8 Mn |
|
Growth Rate CAGR |
CAGR of 10.26% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Offering, Deployment Mode, And Vertical |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Microsoft, IBM, Google, Fireblocks, Blockdaemon, Qredo, Penta Security, Zengo, CYBAVO, Liminal Custody, Spatium, Silence Laboratories, Sharemind, Atato, Web3Auth, Patricia Blockchain, Orochi Network, Binance, Pyte, Roseman Labs, MPCVault, DuoKey, Linksight, HyperBC. and Others |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Secure Multiparty Computation (SMPC) Market Snapshot
Chapter 4. Global Secure Multiparty Computation (SMPC) Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Offering Estimates & Trend Analysis
5.1. by Offering & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Offering:
5.2.1. Solution
5.2.2. Services
Chapter 6. Market Segmentation 2: by Deployment Mode Estimates & Trend Analysis
6.1. by Deployment Mode & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Deployment Mode:
6.2.1. Cloud
6.2.2. On-Premises
Chapter 7. Market Segmentation 3: by Vertical Estimates & Trend Analysis
7.1. by Vertical & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Vertical:
7.2.1. Banking, Financial Services, and Insurance (BFSI)
7.2.2. IT & ITeS
7.2.3. Government
7.2.4. Healthcare
7.2.5. Retail and eCommerce
Chapter 8. Secure Multiparty Computation (SMPC) Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2023-2031
8.1.2. North America Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by Deployment Mode, 2023-2031
8.1.3. North America Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by Vertical, 2023-2031
8.1.4. North America Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
8.2. Europe
8.2.1. Europe Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2023-2031
8.2.2. Europe Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by Deployment Mode, 2023-2031
8.2.3. Europe Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by Vertical, 2023-2031
8.2.4. Europe Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
8.3. Asia Pacific
8.3.1. Asia Pacific Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2023-2031
8.3.2. Asia Pacific Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by Deployment Mode, 2023-2031
8.3.3. Asia-Pacific Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by Vertical, 2023-2031
8.3.4. Asia Pacific Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
8.4. Latin America
8.4.1. Latin America Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2023-2031
8.4.2. Latin America Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by Deployment Mode, 2023-2031
8.4.3. Latin America Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by Vertical, 2023-2031
8.4.4. Latin America Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
8.5. Middle East & Africa
8.5.1. Middle East & Africa Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by Offering, 2023-2031
8.5.2. Middle East & Africa Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by Deployment Mode, 2023-2031
8.5.3. Middle East & Africa Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by Vertical, 2023-2031
8.5.4. Middle East & Africa Secure Multiparty Computation (SMPC) Market Revenue (US$ Million) Estimates and Forecasts by country, 2023-2031
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. Microsoft
9.2.2. IBM
9.2.3. Google
9.2.4. Fireblocks
9.2.5. Blockdaemon
9.2.6. Qredo (British Virgin Islands)
9.2.7. Penta Security
9.2.8. Zengo
9.2.9. Inpher
9.2.10. Liminal Custody
9.2.11. Spatium
9.2.12. Silence Laboratories
9.2.13. Sharemind
9.2.14. Atato
9.2.15. Web3Auth
9.2.16. Partisia Blockchain
9.2.17. Orochi Network
9.2.18. Binance
9.2.19. Pyte
9.2.20. Roseman Labs
9.2.21. MPCVault
9.2.22. DuoKey
9.2.23. Linksight
9.2.24. HyperBC
9.2.25. Other Prominent Players
Secure Multiparty Computation (SMPC) Market By Offering:
Secure Multiparty Computation (SMPC) Market By Deployment Mode:
Secure Multiparty Computation (SMPC) Market By Vertical:
Secure Multiparty Computation (SMPC) Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
