Secure Multiparty Computation (SMPC) Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024

Description

Persistence Market Research has recently released a comprehensive report on the global Secure Multiparty Computation (SMPC) Market, providing an in-depth analysis of key market dynamics, including driving forces, emerging trends, opportunities, and challenges. This report offers a detailed understanding of the market landscape, empowering stakeholders to make strategic decisions.

Key Insights:

SMPC Market Size (2024E): US$ 0.9 Bn
Projected Market Value (2031F): US$ 1.7 Bn
Global Market Growth Rate (CAGR 2024 to 2031): 9%

Secure Multiparty Computation (SMPC) Market - Report Scope:

Secure Multiparty Computation (SMPC) is a cryptographic technique that allows multiple parties to jointly compute a function over their inputs while keeping those inputs private. The technology is gaining traction across industries such as finance, healthcare, and government due to its potential to enhance data security and privacy in distributed computing environments. SMPC ensures compliance with stringent data privacy regulations and is increasingly used in applications like fraud detection, secure voting systems, and privacy-preserving AI.

Market Growth Drivers:

The SMPC market is driven by the rising need for advanced data security solutions, increasing regulatory requirements for data privacy, and the proliferation of cyber threats. As organizations handle sensitive information across distributed systems, SMPC provides a robust framework for secure collaboration. The growing adoption of blockchain technology and privacy-preserving machine learning further accelerates market demand. Additionally, increased investments in secure data analytics and collaboration tools are key factors fueling market growth.

Market Restraints:

Despite its potential, the SMPC market faces challenges such as high computational costs, complexity in implementation, and limited awareness about the technology. The intricate nature of SMPC protocols and the need for specialized knowledge for deployment can deter adoption. Furthermore, scalability issues in large-scale applications and resistance to change in legacy systems hinder market expansion. Overcoming these barriers will require advancements in SMPC algorithms and enhanced user education.

Market Opportunities:

The SMPC market presents significant opportunities for growth through innovation and expanding use cases. Advancements in cloud computing and edge technologies are creating pathways for the integration of SMPC in decentralized environments. The rise of data-centric industries, such as AI and big data analytics, opens up new avenues for SMPC application. Partnerships between technology providers, academic institutions, and regulatory bodies can accelerate adoption and standardization. Emerging economies represent untapped potential, driven by increasing digital transformation and cybersecurity needs.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the Secure Multiparty Computation (SMPC) market?
Which industries are leading in the adoption of SMPC solutions?
How are advancements in cryptographic techniques shaping the SMPC landscape?
Who are the major players in the SMPC market, and what strategies are they employing to maintain their competitive edge?
What are the emerging trends and future prospects for the global SMPC market?

Competitive Intelligence and Business Strategy:

Key players in the global SMPC market, such as IBM, Intel Corporation, and Microsoft Corporation, are driving innovation through R&D investments and strategic partnerships. These companies focus on enhancing SMPC protocols for scalability, efficiency, and usability to meet diverse industry demands. Collaborations with industry verticals, cloud service providers, and academic institutions are critical for fostering technology adoption. Efforts to simplify deployment and integration while ensuring regulatory compliance are helping these firms gain a competitive edge in the evolving SMPC market.

Key Companies Profiled:

Microsoft Corporation
IBM Corporation
Google LLC
Fireblocks
Blockdaemon
Penta Security Inc.
Qredo Services Ltd.
Zengo Ltd.
Inpher
CYBAVO Pte. Ltd.
Liminal Custody

Secure Multiparty Computation (SMPC) Industry Research by Category:

By Offering

Solutions
Services

By Deployment

Cloud
On-premises

By Vertical

BFSI
IT and ITes
Government
Healthcare
Retail and E-commerce
Others

By Region

North America
Latin America
Europe
East Asia
South Asia
Oceania
The Middle East & Africa

Product Code: PMRREP35000

1. Executive Summary

1.1. Global Secure Multiparty Computation (SMPC) Market Snapshot, 2024 and 2031
1.2. Market Opportunity Assessment, 2024 - 2031, US$ Bn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Industry Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Macro-Economic Factors
- 2.3.1. Global Sectorial Outlook
- 2.3.2. Global GDP Growth Outlook
- 2.3.3. Other Macro-economic Factors
2.4. COVID-19 Impact Analysis
2.5. Forecast Factors - Relevance and Impact
2.6. Regulatory Landscape
2.7. Supply Chain Analysis
2.8. PESTLE Analysis
2.9. Porter's Five Force Analysis

3. Price Trend Analysis, 2019 - 2031

3.1. Key Highlights
3.2. Key Factors Impacting Product Prices
3.3. Pricing Analysis, By Offering
3.4. Regional Prices and Historical and Future Growth Trends

4. Global Secure Multiparty Computation (SMPC) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

4.1. Key Highlights
4.2. Market Size (US$ Bn ) Analysis and Forecast
- 4.2.1. Historical Market Size (US$ Bn ) Analysis, 2019 - 2023
- 4.2.2. Current Market Size (US$ Bn ) Analysis and Forecast, 2024 - 2031
4.3. Global Secure Multiparty Computation (SMPC) Market Outlook: Offering
- 4.3.1. Introduction / Key Findings
- 4.3.2. Historical Market Size (US$ Bn ) Analysis, By Offering, 2019 - 2023
- 4.3.3. Current Market Size (US$ Bn ) Analysis and Forecast, By Offering, 2024 - 2031
  - 4.3.3.1. Solutions
  - 4.3.3.2. Services
4.4. Market Attractiveness Analysis: Offering
4.5. Global Secure Multiparty Computation (SMPC) Market Outlook: Deployment
- 4.5.1. Introduction / Key Findings
- 4.5.2. Historical Market Size (US$ Bn ) Analysis, By Deployment, 2019 - 2023
- 4.5.3. Current Market Size (US$ Bn ) Analysis and Forecast, By Deployment, 2024 - 2031
  - 4.5.3.1. Cloud
  - 4.5.3.2. On-premises
4.6. Market Attractiveness Analysis: Deployment
4.7. Global Secure Multiparty Computation (SMPC) Market Outlook: Vertical
- 4.7.1. Introduction / Key Findings
- 4.7.2. Historical Market Size (US$ Bn ) Analysis, By Vertical, 2019 - 2023
- 4.7.3. Current Market Size (US$ Bn ) Analysis and Forecast, By Vertical, 2024 - 2031
  - 4.7.3.1. BFSI
  - 4.7.3.2. IT & ITes
  - 4.7.3.3. Government
  - 4.7.3.4. Healthcare
  - 4.7.3.5. Retail & e-Commerce
  - 4.7.3.6. Others
4.8. Market Attractiveness Analysis: Vertical

5. Global Secure Multiparty Computation (SMPC) Market Outlook: Region

5.1. Key Highlights
5.2. Historical Market Size (US$ Bn ) Analysis, By Region, 2019 - 2023
5.3. Current Market Size (US$ Bn ) Analysis and Forecast, By Region, 2024 - 2031
- 5.3.1. North America
- 5.3.2. Europe
- 5.3.3. East Asia
- 5.3.4. South Asia and Oceania
- 5.3.5. Latin America
- 5.3.6. Middle East & Africa
5.4. Market Attractiveness Analysis: Region

6. North America Secure Multiparty Computation (SMPC) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

6.1. Key Highlights
6.2. Pricing Analysis
6.3. Historical Market Size (US$ Bn ) Analysis, By Market, 2019 - 2023
- 6.3.1. By Country
- 6.3.2. By Offering
- 6.3.3. By Deployment
- 6.3.4. By Vertical
6.4. Current Market Size (US$ Bn ) Analysis and Forecast, By Country, 2024 - 2031
- 6.4.1. U.S.
- 6.4.2. Canada
6.5. Current Market Size (US$ Bn ) Analysis and Forecast, By Offering, 2024 - 2031
- 6.5.1. Solutions
- 6.5.2. Services
6.6. Current Market Size (US$ Bn ) Analysis and Forecast, By Deployment, 2024 - 2031
- 6.6.1. Cloud
- 6.6.2. On-premises
6.7. Current Market Size (US$ Bn ) Analysis and Forecast, By Vertical, 2024 - 2031
- 6.7.1. BFSI
- 6.7.2. IT & ITes
- 6.7.3. Government
- 6.7.4. Healthcare
- 6.7.5. Retail & e-Commerce
- 6.7.6. Others
6.8. Market Attractiveness Analysis

7. Europe Secure Multiparty Computation (SMPC) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

7.1. Key Highlights
7.2. Pricing Analysis
7.3. Historical Market Size (US$ Bn ) Analysis, By Market, 2019 - 2023
- 7.3.1. By Country
- 7.3.2. By Offering
- 7.3.3. By Deployment
- 7.3.4. By Vertical
7.4. Current Market Size (US$ Bn ) Analysis and Forecast, By Country, 2024 - 2031
- 7.4.1. Germany
- 7.4.2. France
- 7.4.3. U.K.
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Turkey
- 7.4.8. Rest of Europe
7.5. Current Market Size (US$ Bn ) Analysis and Forecast, By Offering, 2024 - 2031
- 7.5.1. Solutions
- 7.5.2. Services
7.6. Current Market Size (US$ Bn ) Analysis and Forecast, By Deployment, 2024 - 2031
- 7.6.1. Cloud
- 7.6.2. On-premises
7.7. Current Market Size (US$ Bn ) Analysis and Forecast, By Vertical, 2024 - 2031
- 7.7.1. BFSI
- 7.7.2. IT & ITes
- 7.7.3. Government
- 7.7.4. Healthcare
- 7.7.5. Retail & e-Commerce
- 7.7.6. Others
7.8. Market Attractiveness Analysis

8. East Asia Secure Multiparty Computation (SMPC) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

8.1. Key Highlights
8.2. Pricing Analysis
8.3. Historical Market Size (US$ Bn ) Analysis, By Market, 2019 - 2023
- 8.3.1. By Country
- 8.3.2. By Offering
- 8.3.3. By Deployment
- 8.3.4. By Vertical
8.4. Current Market Size (US$ Bn ) Analysis and Forecast, By Country, 2024 - 2031
- 8.4.1. China
- 8.4.2. Japan
- 8.4.3. South Korea
8.5. Current Market Size (US$ Bn ) Analysis and Forecast, By Offering, 2024 - 2031
- 8.5.1. Solutions
- 8.5.2. Services
8.6. Current Market Size (US$ Bn ) Analysis and Forecast, By Deployment, 2024 - 2031
- 8.6.1. Cloud
- 8.6.2. On-premises
8.7. Current Market Size (US$ Bn ) Analysis and Forecast, By Vertical, 2024 - 2031
- 8.7.1. BFSI
- 8.7.2. IT & ITes
- 8.7.3. Government
- 8.7.4. Healthcare
- 8.7.5. Retail & e-Commerce
- 8.7.6. Others
8.8. Market Attractiveness Analysis

9. South Asia & Oceania Secure Multiparty Computation (SMPC) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

9.1. Key Highlights
9.2. Pricing Analysis
9.3. Historical Market Size (US$ Bn ) Analysis, By Market, 2019 - 2023
- 9.3.1. By Country
- 9.3.2. By Offering
- 9.3.3. By Deployment
- 9.3.4. By Vertical
9.4. Current Market Size (US$ Bn ) Analysis and Forecast, By Country, 2024 - 2031
- 9.4.1. India
- 9.4.2. Southeast Asia
- 9.4.3. ANZ
- 9.4.4. Rest of South Asia & Oceania
9.5. Current Market Size (US$ Bn ) Analysis and Forecast, By Offering, 2024 - 2031
- 9.5.1. Solutions
- 9.5.2. Services
9.6. Current Market Size (US$ Bn ) Analysis and Forecast, By Deployment, 2024 - 2031
- 9.6.1. Cloud
- 9.6.2. On-premises
9.7. Current Market Size (US$ Bn ) Analysis and Forecast, By Vertical, 2024 - 2031
- 9.7.1. BFSI
- 9.7.2. IT & ITes
- 9.7.3. Government
- 9.7.4. Healthcare
- 9.7.5. Retail & e-Commerce
- 9.7.6. Others
9.8. Market Attractiveness Analysis

10. Latin America Secure Multiparty Computation (SMPC) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

10.1. Key Highlights
10.2. Pricing Analysis
10.3. Historical Market Size (US$ Bn ) Analysis, By Market, 2019 - 2023
- 10.3.1. By Country
- 10.3.2. By Offering
- 10.3.3. By Deployment
- 10.3.4. By Vertical
10.4. Current Market Size (US$ Bn ) Analysis and Forecast, By Country, 2024 - 2031
- 10.4.1. Brazil
- 10.4.2. Mexico
- 10.4.3. Rest of Latin America
10.5. Current Market Size (US$ Bn ) Analysis and Forecast, By Offering, 2024 - 2031
- 10.5.1. Solutions
- 10.5.2. Services
10.6. Current Market Size (US$ Bn ) Analysis and Forecast, By Deployment, 2024 - 2031
- 10.6.1. Cloud
- 10.6.2. On-premises
10.7. Current Market Size (US$ Bn ) Analysis and Forecast, By Vertical, 2024 - 2031
- 10.7.1. BFSI
- 10.7.2. IT & ITes
- 10.7.3. Government
- 10.7.4. Healthcare
- 10.7.5. Retail & e-Commerce
- 10.7.6. Others
10.8. Market Attractiveness Analysis

11. Middle East & Africa Secure Multiparty Computation (SMPC) Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

11.1. Key Highlights
11.2. Pricing Analysis
11.3. Historical Market Size (US$ Bn ) Analysis, By Market, 2019 - 2023
- 11.3.1. By Country
- 11.3.2. By Offering
- 11.3.3. By Deployment
- 11.3.4. By Vertical
11.4. Current Market Size (US$ Bn ) Analysis and Forecast, By Country, 2024 - 2031
- 11.4.1. GCC Countries
- 11.4.2. Egypt
- 11.4.3. South Africa
- 11.4.4. Northern Africa
- 11.4.5. Rest of Middle East & Africa
11.5. Current Market Size (US$ Bn ) Analysis and Forecast, By Offering, 2024 - 2031
- 11.5.1. Solutions
- 11.5.2. Services
11.6. Current Market Size (US$ Bn ) Analysis and Forecast, By Deployment, 2024 - 2031
- 11.6.1. Cloud
- 11.6.2. On-premises
11.7. Current Market Size (US$ Bn ) Analysis and Forecast, By Vertical, 2024 - 2031
- 11.7.1. BFSI
- 11.7.2. IT & ITes
- 11.7.3. Government
- 11.7.4. Healthcare
- 11.7.5. Retail & e-Commerce
- 11.7.6. Others
11.8. Market Attractiveness Analysis

12. Competition Landscape

12.1. Market Share Analysis, 2023
12.2. Market Structure
- 12.2.1. Competition Intensity Mapping By Market
- 12.2.2. Competition Dashboard
12.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 12.3.1. Microsoft Corporation
  - 12.3.1.1. Overview
  - 12.3.1.2. Segments and Products
  - 12.3.1.3. Key Financials
  - 12.3.1.4. Market Developments
  - 12.3.1.5. Market Strategy
- 12.3.2. IBM Corporation
- 12.3.3. Google LLC
- 12.3.4. Fireblocks
- 12.3.5. Blockdaemon
- 12.3.6. Penta Security Inc.
- 12.3.7. Qredo Services Ltd.
- 12.3.8. Zengo Ltd.
- 12.3.9. Inpher
- 12.3.10. CYBAVO Pte. Ltd.
- 12.3.11. Liminal Custody

13. Appendix

13.1. Research Methodology
13.2. Research Assumptions
13.3. Acronyms and Abbreviations

Secure Multiparty Computation (SMPC) Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024 - 2031