Dublin, Dec. 18, 2024 (GLOBE NEWSWIRE) — The “Post-Quantum Cryptography Market – A Global and Regional Analysis: Focus on Application, Product, and Regional and Country-Level Analysis – Analysis and Forecast, 2024-2034” report has been added to ResearchAndMarkets.com’s offering.
The post-quantum cryptography market was valued at $356.4 million in 2023 and is expected to grow at a CAGR of 41.47%, reaching $17.69 billion by 2034.
This field is critical for protecting sensitive information in areas such as finance, healthcare, and national security. By leveraging new cryptographic algorithms, advanced mathematical theories, and continuous efforts, post-quantum cryptography offers enhanced resilience for digital infrastructure, enabling organizations to safeguard their data and communications against the future risks of quantum-powered decryption.
The market is driven by the rising need to secure digital infrastructure against quantum computing threats, leading to advancements in cryptographic algorithms. Enhanced efforts, government funding, and collaborations have shaped this evolving post-quantum cryptography market, enabling the development of robust, quantum-resistant encryption protocols.
Strategic alliances and a proactive regulatory landscape have been further propelling the market, emphasizing the importance of safeguarding sensitive data in critical industries. As cyber threats increase, the market focuses on innovation and security resilience to meet future cybersecurity demands.
The North America region is set to dominate the post-quantum cryptography market, driven by significant investments in cybersecurity, rapid advancements in quantum technology, and strong government initiatives to protect critical digital infrastructure. Countries such as the U.S. and Canada have been experiencing a notable rise in demand for quantum-resistant encryption solutions due to growing concerns over data privacy and national security. The region advanced technology infrastructure and proactive policies addressing quantum-related cybersecurity threats have been accelerating the adoption of post-quantum cryptographic solutions.
Government agencies and private enterprises have invested in to strengthen encryption standards, boosting the demand for quantum-safe technologies. Additionally, North America focus on pioneering innovations has been fostering the development of resilient encryption protocols to secure sensitive data and communications. As North America continues to lead in cybersecurity advancements, it is expected to maintain its leadership position in the post-quantum cryptography market, significantly enhancing data protection and digital resilience against future quantum threats.
Market Overview
The post-quantum cryptography market has rapidly gained prominence due to the rising need to secure digital assets against the emerging threats posed by quantum computing. Post-quantum cryptography involves the development of advanced encryption algorithms that can withstand quantum-powered attacks, protecting critical sectors such as finance, healthcare, and government from potential data breaches. As organizations become increasingly aware of the future risks quantum computing poses to traditional encryption, governments and industries have been prioritizing investment in quantum-resistant solutions.
The market encompasses a variety of approaches, including lattice-based, hash-based, and multivariate cryptography, all essential for ensuring data security and privacy in a quantum future. With the progression of quantum technology and a growing focus on robust cybersecurity, the post-quantum cryptography market is positioned for substantial growth, driven by ongoing innovation and the demand for secure, quantum-resistant systems.
Additionally, the focus on quantum-resistant cryptographic solutions aligns with global priorities in privacy protection, digital trust, and secure communications, influencing practices across sectors that rely on encrypted data. As a result, the post-quantum cryptography market plays a critical role in strengthening cybersecurity frameworks, driving cryptographic innovation, and supporting a secure, quantum-ready digital future worldwide.
Network Security Segment to Dominate the Post-Quantum Cryptography Market (by Security Application)
In the post-quantum cryptography market, network security remains the leading application, driven by the urgent need to protect critical infrastructure from evolving cyber threats, including those posed by quantum computing. Post-quantum cryptography is essential for securing network communications, as quantum-resistant encryption can safeguard sensitive data across sectors. As organizations recognize the limitations of traditional cryptographic methods against future quantum capabilities, they have been increasingly adopting advanced quantum-safe solutions for network protection.
Government mandates on cybersecurity resilience and rising concerns over data privacy further drive the demand for network security solutions. With the escalation of cyber risks and advancements in post-quantum encryption, the demand for network security is expected to grow significantly, ensuring it remains a vital element in protecting data integrity and digital trust in the quantum era.
Government and Defense to Dominate the Post-Quantum Cryptography Market (by End-Use Industry)
In the post-quantum cryptography market, the government and defense sector has been leading the market due to its critical need for secure communications and data protection against quantum threats. This advanced encryption technology is essential for safeguarding national security, protecting sensitive information, and ensuring resilience in the face of emerging quantum risks. The growing recognition of potential vulnerabilities in traditional cryptographic methods has boosted the demand for post-quantum solutions within this sector.
Additionally, heightened awareness of cybersecurity threats and the importance of robust encryption standards have been driving adoption. As the need for future-proof security measures intensifies, the use of post-quantum cryptography in government and defense is expected to grow significantly, solidifying its role as a crucial solution for national security and data integrity.
Post-Quantum Cryptography Market Opportunities: Expansion of Post-Quantum Cryptography in Financial and Healthcare Sectors
The expansion of post-quantum cryptography (PQC) in the financial and healthcare sectors represents a significant growth opportunity for the post-quantum cryptography market. As quantum computing progresses, traditional encryption systems used by financial institutions and healthcare providers have been increasingly vulnerable to being compromised. The financial and healthcare sectors, which handle vast amounts of sensitive data, are particularly exposed to the security risks posed by future quantum technologies, making the implementation of PQC critical.
In the financial sector, the risk is particularly pronounced due to the reliance on current encryption protocols, such as RSA and ECC, which are susceptible to quantum attacks. Financial institutions manage large volumes of high-value data, including customer financial information, transaction records, and proprietary trading algorithms. The potential for quantum computers to break these encryptions in the coming years has driven the industry to explore quantum-safe alternatives proactively.
By adopting PQC solutions, financial institutions can secure current data and future-proof systems against the computational power quantum technologies will bring. The demand for these solutions has been rapidly growing as the financial sector aims to ensure compliance with forthcoming regulations mandating quantum-safe encryption, such as the U.S. National Institute of Standards and Technology (NIST) standards.
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps readers understand the various applications of post-quantum cryptography solutions based on use cases (such as network security, data storage, secure communications, and digital transactions). It covers different cryptographic approaches, including lattice-based, hash-based, and multivariate algorithms.
With advancements in quantum-resistant encryption and increasing concerns over data security, the post-quantum cryptography market presents a high-growth, high-investment opportunity.
Competitive Strategy: The report profiles key players in the post-quantum cryptography market, including technology providers and cybersecurity firms. It offers a comprehensive view of the competitive landscape, covering alliances, joint ventures, and innovation strategies, enabling readers to identify new revenue opportunities and gain a competitive edge in this evolving market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 205 |
| Forecast Period | 2024 – 2034 |
| Estimated Market Value (USD) in 2024 | $550.9 Million |
| Forecasted Market Value (USD) by 2034 | $17690 Million |
| Compound Annual Growth Rate | 41.4% |
| Regions Covered | Global |
Key Topics Covered:
Trends: Current and Future Impact Assessment
- Increased Adoption of Quantum-Safe Algorithms
- Standardization Efforts and Adoption of NIST Guidelines
Market Drivers
- Rising Threat from Quantum Computing to Current Cryptographic Systems
- Government Initiatives and Funding for Quantum-Resistant Technologies
Market Challenges
- High Complexity and Cost of Implementing Post-Quantum Cryptography Solutions
- Lack of Standardization and Interoperability across Cryptographic Systems
Market Opportunities
- Expansion of Post-Quantum Cryptography in Financial and Healthcare Sectors
- Collaboration between Academia, Industry, and Governments for Quantum-Safe Standards
Supply Chain Overview
- Supply Chain Analysis
- Value Chain Analysis
- Quantum Technology Ecosystem
Market Map
- Post-Quantum Cryptography Market – Product (by Product Type)
- Hardware
- Software
- Investment Required for Efficient Deployment of Post-Quantum Cryptography (PQC)
- Government Investment: U.S. Federal Government Initiatives
- Corporate Investment: IBM and Microsoft
- Industry-Specific Investment: Financial Sector
Research and Development Review
- Patent Filing Trend (by Country and Company)
- Global Initiatives
- Stakeholder Analysis
- Use Case
- End User and Buying Criteria
Snapshot of the Quantum Computing Market
- Leading Countries
- Leading Companies
- Key Findings
- Global Market Projections
Key Market Players and Competition Synopsis
- IBM
- ID Quantique
- ETAS
- Infineon Technologies AG
- PQShield Ltd
- Qrypt
- QuintessenceLabs
- SandboxAQ
- Thales
- CryptoNext, inc.
- Agnostiq
- IonQ
- D-Wave Quantum Inc.
- Crypto Quantique
- Quantinuum Ltd.
- Atom Computing Inc.
- PQ Solutions Limited
- Toshiba Corporation
- Microsoft
- Fujitsu
- Anhui Wentian Quantum Technology Co., Ltd.
- Quantum Xchange
- Quantum Blockchains
For more information about this report visit https://www.researchandmarkets.com/r/vrresw
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
- Global Post-Quantum Cryptography Market
