Market and Market Research Co., Ltd.
CHICAGO, June 27, 2024 (GLOBE NEWSWIRE) — The global secure multi-party computing (SMPC) market size is expected to grow from USD 824 million in 2024 to USD 1,412 million by 2029, at a compound annual growth rate (CAGR) of 11.4% during the forecast period.
As data breaches and privacy issues become more prevalent, organizations are looking for ways to securely process and share sensitive information. SMPC provides a solution by enabling collaborative computations without exposing the data to all parties involved. As organizations prioritize secure computations, the demand for SMPC solutions will continue, fueling the expansion of the market.
View the complete table of contents for “Secure Multiparty Computing Market”
107 – Table
40 – Numbers
154 – Page
To download the report brochure, please visit: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=67797344
Secure Multiparty Computing Market Trends:
driver:
Restraints:
opportunity:
List of Key Players in the Secure Multi-Party Computing Market:
Microsoft (US)
IBM (US)
Google (USA)
Fireblock (USA)
BlockDemon (USA)
Credo Island (British Virgin Islands)
Penta Security (Korea)
Zengo (Israel)
Infar (USA)
CYBAVO (Singapore)
Interim Custody (Singapore)
Request sample page: https://www.marketsandmarkets.com/requestsampleNew.asp?id=67797344
Trend: Cloud Computing
Cloud platforms provide the computing power and storage capabilities essential for data processing and analysis while ensuring security and privacy through encryption and access control mechanisms. Cloud computing allows organizations to perform complex calculations on encrypted data without compromising confidentiality, enabling secure collaboration and data analysis across distributed environments. This integration provides increased scalability, reliability, and performance, allowing organizations to access computing resources on demand and scale their operations efficiently.
Trend: Homomorphic Encryption (HE)
Homomorphic encryption (HE) is a key component used in secure multiparty computing (SMPC) to enhance data privacy and security during collaborative computations. Secure homomorphic encryption serves as the foundation for SMC, allowing computation on encrypted data without decrypting it and protecting sensitive information during collaboration. HE allows multiple parties with encrypted datasets to perform collaborative analysis without revealing the underlying data. MPC protocols leverage HE properties such as addition and multiplication. This extension allows functions to be evaluated without decrypting the encrypted data, enhancing privacy in scenarios such as cloud computation.
The story continues
The solutions segment will hold a larger market share through its offering.
Secure Multiparty Computing (SMPC) solutions are designed to allow multiple parties to collaboratively perform computations on data while their individual inputs remain private. These solutions are particularly beneficial in the context of key management and computation. SMPC eliminates single points of failure and enhances security by distributing encryption keys among the parties involved. Each party shares the key and computations can be performed without reconstructing the entire key, reducing the risk of leakage. Additionally, SMPC ensures that computations are performed securely by each party providing inputs in encrypted form. This approach not only protects data during processing, but also maintains the confidentiality and integrity of the results. Overall, SMPC solutions are extremely useful in scenarios requiring high levels of data security and privacy, as they provide a robust framework for secure and private computations.
Enquire before purchasing: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=67797344
Based on deployment mode, the cloud segment will account for the highest CAGR during the forecast period.
Leveraging the cloud for SMPC can provide a compelling solution for data analytics in today's privacy-conscious world. Cloud platforms provide the processing power to perform complex calculations on encrypted data, addressing concerns about sharing sensitive information. SMPC in the cloud allows multiple parties to collaborate on tasks involving sensitive data, without any party seeing the raw information of the other parties. This allows valuable data insights to be extracted from the combined datasets of different organizations, such as healthcare organizations analyzing disease patterns or financial institutions collaborating to detect fraud. Cloud-based SMPCs facilitate secure collaboration while complying with data privacy regulations and keeping sensitive information under each party's control.
Opportunity: Adoption of advanced technologies such as AI/ML
The growing adoption of artificial intelligence (AI) and machine learning (ML) techniques is creating significant opportunities for the secure multi-party computing (SMPC) market. SMPC's ability to perform calculations on encrypted data protects sensitive information throughout the collaborative learning process. As AI and ML techniques continue to permeate various domains, the need for privacy-preserving solutions like SMPC will increase, driving growth and innovation in the SMPC market. A paper presented by Brian Knott, Shobha Venkatraman et al. at the 35th Conference on Neural Information Processing Systems (NeurIPS) in 2021 describes CRYPTEN, a software framework that integrates SMPC into familiar abstractions commonly used in modern machine learning frameworks.
Access the latest information about Secure Multiparty Computing companies and the Secure Multiparty Computing industry
Contact Us: About MarketsandMarkets™ MarketsandMarkets™ was recognized as one of the best management consulting firms in the US in a recent report by Forbes. MarketsandMarkets™ is the blue ocean choice in growth consulting and program management, leveraging man-machine services to drive supernormal growth for progressive organizations in the B2B space. We have the broadest perspective on emerging technologies and are adept at co-creating supernormal growth for our clients. Earlier this year, we formally transitioned to one of the best management consulting firms in the US, according to a survey conducted by Forbes. In the B2B economy, $25 trillion in new revenue streams have emerged in the last decade alone to replace existing revenue streams. We work with our clients on their growth programs to help them monetize this $25 trillion opportunity through our service lines including TAM expansion, go-to-market (GTM) strategy to execution, market share acquisition, account enablement, and thought leadership marketing. Guided by our philosophy of “GIVE Growth”, we work with some of the Forbes Global 2000 B2B companies to help them remain relevant in disruptive ecosystems. Our insights and strategies are shaped by our industry experts, cutting edge AI-powered Market Intelligence Cloud, and years of research. KnowledgeStore™ (our Market Intelligence Cloud) consolidates our research and facilitates the analysis of interconnections through a set of applications, helping our clients see the entire ecosystem and understand the revenue shifts happening in their industries. For more information, please visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com
Source link
