Secure Multiparty Computation (SMPC) Market

The global secure multiparty computation (SMPC) market size is projected to grow from USD 824 million in 2024 to USD 1,412 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 11.4% during the forecast period. The expansion of secure multiparty computation is propelled by the demand for private key security with SMPC and increased data privacy regulations compliance.

Top Secure Multiparty Computation Companies include

• Microsoft (US)
• Google (US)
• Penta Security (South Korea)
• Zengo (Israel)
• CYBAVO (Singapore) and many more....

Additionally, the necessity for data security and enhanced situational awareness for secure computation drives the adoption of SMPC, enabling organizations to proactively address evolving security challenges.

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What is secure multiparty computation (SMPC)?

Secure multiparty computation (SMPC) is a cryptographic technique that allows several parties to jointly perform a computation using their private inputs. SMPC allows several parties, each with their own confidential data, to jointly perform a computation in such a way that none of them disclose their private data or any other related confidential information.

Competitive overview:

The secure multiparty computation market is led by some of the globally established players, such as Microsoft (US), IBM (US), Google (US), Fireblocks (US), Blockdaemon (US), Qredo (British Virgin Islands), Penta Security (South Korea), Zengo (Israel), Inpher (US), CYBAVO (Singapore). Partnerships, agreements, collaborations, acquisitions, and product developments are some of the various growth strategies these players use to increase their market presence.

Google is a multinational technology provider that operates on both advertising and subscription models, funding free services like search, email, and maps through targeted ads, while also providing premium subscriptions for cloud storage via Google Drive and business tools through Google Workspace. The company’s extensive product portfolio includes productivity tools within Google Workspace, Google Meet for video conferencing, the Chrome web browser, and hardware such as Pixel smartphones, Chromebooks, and Nest smart home devices. In SMPC, Google Cloud Platform (GPC) provides the necessary infrastructure and tools that can be leveraged to build and deploy secure multiparty computation solutions. It allows to scale SMPC solutions based on specific needs.

Microsoft is a software provider company that offers a comprehensive range of products and services including software, and hardware products. Their business model relies on a mix of licensing and subscriptions. Microsoft Azure provides the tools and infrastructure needed to build custom SMPC solutions. Organizations can leverage Azure’s scalable cloud resources to deploy SMPC protocols tailored to their specific needs, facilitating secure collaborative computations across various use cases. Azure’s ecosystem includes partnerships with leading cybersecurity and cryptographic research institutions. This collaboration fosters the development and integration of advanced SMPC techniques, ensuring Azure stays at the forefront of secure data processing technologies.

Penta Security Systems Inc. is a leading provider of cybersecurity solutions and services. Established in 1997, Penta Security specializes in offering advanced web application firewall (WAF), data encryption, and authentication technologies. The company's flagship product, WAPPLES, is renowned for its robust protection against web-based cyber threats, including DDoS attacks and OWASP Top 10 vulnerabilities. Penta Security serves a wide range of industries, including finance, healthcare, telecommunications, and government sectors, ensuring data security and regulatory compliance. With a strong focus on innovation and customer satisfaction, Penta Security continues to expand its global footprint, providing cutting-edge cybersecurity solutions to protect organizations from evolving cyber threats.

Zengo is a cybersecurity startup focused on providing solutions to protect cryptocurrency assets. Founded in 2018, Zengo offers a non-custodial wallet that combines simplicity with high security standards. Their wallet uses a novel cryptographic technique called threshold signatures, which enhances security by distributing private key fragments across multiple devices without compromising usability. This approach aims to eliminate the risks associated with traditional cryptocurrency wallets, such as phishing attacks and key theft. Zengo's mission is to make cryptocurrency management more accessible and secure for users, leveraging cutting-edge technology to protect digital assets effectively.

CYBAVO is a cybersecurity company based in Singapore, specializing in providing secure digital asset management solutions for cryptocurrency exchanges, custodians, and financial institutions. Founded in 2018, CYBAVO focuses on enhancing the security and usability of cryptocurrency storage and transactions through its comprehensive suite of products. These include secure wallet management solutions, multi-signature wallet services, and blockchain infrastructure security. CYBAVO's solutions are designed to protect against various cyber threats, ensuring the integrity and confidentiality of digital assets. The company serves clients globally, aiming to set industry standards for secure cryptocurrency storage and management.

According to MnM’s approach to evaluating the market, most businesses are using various organic and inorganic growth tactics to maintain their position in the evolving market. These strategies cover deals like alliances, acquisitions, collaborations, and partnerships. Moreover, various organizations are focusing on organic growth strategies to provide secure multiparty computation solutions and services to the end consumers, such strategies are boosting market revenue.

Related Reports:

Secure Multiparty Computation (SMPC) Market by Offering (Solutions and Services), Deployment Mode (Cloud and On-premises), Vertical (BFSI, IT & ITeS, Government, Healthcare, and Retail & E-commerce) and Region - Global Forecast to 2029