The global secure multiparty computation (SMPC) market is projected to grow from US$ 0.9 Bn in 2024 to US$ 1.7 Bn by 2031, with a CAGR of 9%. The rise of data privacy regulations like GDPR and CCPA is fueling the adoption of SMPC, particularly in sectors such as healthcare, finance, and supply chain management. SMPC allows organizations to perform secure collaborative computations without compromising data privacy. North America is expected to hold a 40% market share in 2024, driven by stringent privacy laws and the presence of tech giants. The cloud deployment model will dominate, offering scalable, cost-effective solutions, while specialized hardware like GPUs and TPUs accelerates SMPC computations. Emerging SMPC protocols and integration with post-quantum cryptography are key trends shaping the market.