This thesis introduces efficient sharing algorithms to address some of the existing challenges in secret image sharing domain. The first contribution focuses on polynomial-based secret image sharing, incorporating two strategies: ignore-and-recalculate and ignore-to-modify-and-recalculate to handle single-pixel and multi-pixel processing. The proposed SIS schemes improve security by modifying the polynomial secret-sharing technique to ensure random shares. The proposed ignore-to-modify-and-recalculate scheme provides lossless sharing, low-cost decryption, and share-hiding capability via audio signal. ignore-and-recalculate approach minimizes post-processing overhead and prevents information leakage for up to \((k-1)\) shares without requiring encryption. Additionally, the reconstruction process is redesigned to replace interpolation with addition-based reconstruction, reducing computational overhead. The remaining contributions present two (n, n) grid-based secret image-sharing algorithms for low-cost and lossless reconstruction: one leveraging Legendre polynomials and the other employing singular value decomposition. Both methods use addition-based reconstruction, eliminating the need for interpolation.