North America Secure Multiparty Computation (SMPC) Market Size, Share & Trends Analysis Report By Offering (Solution, and Services), By Deployment Mode (Cloud, and On-Premises), By Vertical, By Country and Growth Forecast, 2024 - 2031
North America Secure Multiparty Computation (SMPC) Market Size, Share & Trends Analysis Report By Offering (Solution, and Services), By Deployment Mode (Cloud, and On-Premises), By Vertical, By Country and Growth Forecast, 2024 - 2031
The North America Secure Multiparty Computation (SMPC) Market would witness market growth of 10.3% CAGR during the forecast period (2024-2031).
The US market dominated the North America Secure Multiparty Computation (SMPC) Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $443.2 million by 2031. The Canada market is experiencing a CAGR of 12.7% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 11.8% during (2024 - 2031).
Government agencies and public sector organizations also need secure data processing. National security, law enforcement, and public policy decision-making often require sensitive data analysis across multiple agencies and jurisdictions. SMPC enables secure inter-agency collaboration, ensuring that sensitive information remains protected even when used for critical analyses.
Moreover, intelligence agencies can use SMPC to share and analyse threat information without risking the exposure of classified data. This secure sharing and analysis capability can significantly enhance national security efforts and improve the effectiveness of public sector operations.
North America boasts a dense network of leading technology companies and prominent financial institutions. These entities actively seek secure solutions for data collaboration, and SMPC offers a compelling option that facilitates data sharing while preserving privacy. Finance and insurance comprised 8.3 percent (or $1.7 trillion) of the United States' gross domestic product in 2020. The provision of financial services and products contributes to the facilitation and financing of the export of manufactured commodities and agricultural products from the United States.
Based on Offering, the market is segmented into Solution, and Services. Based on Deployment Mode, the market is segmented into Cloud, and On-Premises. Based on Vertical, the market is segmented into BFSI, IT & ITeS, Government, Retail & eCommerce, Healthcare, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
Microsoft Corporation
IBM Corporation
Google LLC (Alphabet Inc.)
Fireblocks Inc.
Blockdaemon
Qredo Services Ltd.
Penta Security Inc.
Zengo Ltd.
Inpher
CYBAVO Pte. Ltd.
North America Secure Multiparty Computation (SMPC) Market Report Segmentation
By Offering
Solution
Services
By Deployment Mode
Cloud
On-Premises
By Vertical
BFSI
IT & ITeS
Government
Retail & eCommerce
Healthcare
Others
By Country
US
Canada
Mexico
Rest of North America
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Secure Multiparty Computation (SMPC) Market, by Offering
1.4.2 North America Secure Multiparty Computation (SMPC) Market, by Deployment Mode
1.4.3 North America Secure Multiparty Computation (SMPC) Market, by Vertical
1.4.4 North America Secure Multiparty Computation (SMPC) Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis
4.1 Market Share Analysis, 2023
4.2 Porter Five Forces Analysis
Chapter 5. North America Secure Multiparty Computation (SMPC) Market by Offering
5.1 North America Solution Market by Region
5.2 North America Services Market by Region
Chapter 6. North America Secure Multiparty Computation (SMPC) Market by Deployment Mode
6.1 North America Cloud Market by Country
6.2 North America On-Premises Market by Country
Chapter 7. North America Secure Multiparty Computation (SMPC) Market by Vertical
7.1 North America BFSI Market by Country
7.2 North America IT & ITeS Market by Country
7.3 North America Government Market by Country
7.4 North America Retail & eCommerce Market by Country
7.5 North America Healthcare Market by Country
7.6 North America Others Market by Country
Chapter 8. North America Secure Multiparty Computation (SMPC) Market by Country
8.1 US Secure Multiparty Computation (SMPC) Market
8.1.1 US Secure Multiparty Computation (SMPC) Market by Offering
8.1.2 US Secure Multiparty Computation (SMPC) Market by Deployment Mode
8.1.3 US Secure Multiparty Computation (SMPC) Market by Vertical