Chicago, June 27, 2024 (GLOBE NEWSWIRE) -- The global Secure Multiparty Computation (SMPC) Market size is projected 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 seeking secure ways to process and share sensitive information. SMPC offers a solution by allowing data to be computed jointly without exposing it to all parties involved. As organizations prioritize secure computation, the demand for SMPC solutions continues, fostering market expansion. Browse in-depth TOC on "Secure Multiparty Computation Market" 107 - Tables 40 - Figures 154 - Pages Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=67797344 Secure Multiparty Computation Market Dynamics: Drivers: Demand for private key security with SMPC Data privacy regulations compliance Restraints: Increased computational time High communication costs involved in key decentralization (or distribution) Opportunities: Adoption of AI and ML Integration with cloud computing platforms List of Key Players in Secure Multiparty Computation Market: Microsoft (US) IBM (US) Google (US) Fireblocks (US) Blockdaemon (US) Qredo (British Virgin Islands) Penta Security (South Korea) Zengo (Israel) Inpher (US) CYBAVO (Singapore) Liminal Custody (Singapore) Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=67797344 Trend: Cloud Computing Cloud platforms provide computational power and storage capabilities vital for processing and analyzing data while ensuring security and privacy through encryption and access control mechanisms. Cloud computing enables organizations to execute complex computations on encrypted data without compromising confidentiality, thereby facilitating secure collaboration and data analysis across distributed environments. This integration enhances scalability, reliability, and performance, allowing organizations to access computing resources on-demand and scale operations efficiently. Trend: Homomorphic Encryption (HE) Homomorphic encryption (HE) is a critical component used in Secure Multiparty Computation (SMPC) to enhance data privacy and security during collaborative computations. Security Homomorphic Encryption acts as the foundation for SMC enabling computations on encrypted data without decryption and safeguarding ...