PUBLISHER: The Business Research Company | PRODUCT CODE: 1760221
PUBLISHER: The Business Research Company | PRODUCT CODE: 1760221
Post-quantum cryptography (PQC) refers to cryptographic techniques designed to protect data and communications from the potential threats posed by quantum computers. These methods focus on developing algorithms based on mathematical problems that are difficult for both classical and quantum systems to solve, ensuring continued security in a future where quantum computing is widely available.
The primary categories of post-quantum cryptography (PQC) include solutions and services. Solutions consist of post-quantum cryptographic software or hardware products that integrate quantum-safe algorithms into existing security frameworks. These solutions are utilized by small and medium-sized enterprises (SMEs) as well as large enterprises for various security applications, including network security and application security. PQC is applied across a wide range of sectors such as banking, financial services, and insurance (BFSI), government and defense, healthcare, information technology and IT-enabled services, and retail and e-commerce.
The post-quantum cryptography (PQC) market research report is one of a series of new reports from The Business Research Company that provides post-quantum cryptography (PQC) market statistics, including post-quantum cryptography (PQC) industry global market size, regional shares, competitors with a post-quantum cryptography (PQC) market share, detailed post-quantum cryptography (PQC) market segments, market trends and opportunities, and any further data you may need to thrive in the post-quantum cryptography (PQC) industry. This post-quantum cryptography (PQC) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The post-quantum cryptography (PQC) market size has grown exponentially in recent years. It will grow from $0.46 billion in 2024 to $0.68 billion in 2025 at a compound annual growth rate (CAGR) of 30.8%. The growth in the historic period can be attributed to the rising demand for secure communication, the growing need to protect against quantum threats, increasing government and regulatory support, the heightened necessity to safeguard sensitive data, and the expanding adoption of cloud-based services.
The post-quantum cryptography (PQC) market size is expected to see exponential growth in the next few years. It will grow to $1.72 billion in 2029 at a compound annual growth rate (CAGR) of 30.4%. The growth in the forecast period can be attributed to the rising number of cyberattacks, growing quantum research, increasing awareness about data privacy, rising interest in convenient financial services, and the growing demand for secure IoT devices. Major trends in the forecast period include innovations in new cryptographic algorithms, advancements in quantum technology, enhanced resilience for future cybersecurity, product innovation, and progress in quantum computing.
The growing concerns around cybersecurity are expected to accelerate the expansion of the post-quantum cryptography (PQC) market. Cybersecurity is crucial in protecting computer systems, networks, and sensitive data from cyberattacks, unauthorized access, and damage. The increasing frequency and sophistication of cyberattacks, which exploit system vulnerabilities and cause significant financial and reputational harm, are driving the demand for more robust security measures. PQC addresses these challenges by developing encryption algorithms that can resist the computational power of quantum computers. As quantum computers become more powerful, traditional cryptographic systems may become vulnerable, making PQC essential for securing sensitive data and communications in a quantum-enabled future. For instance, in December 2023, the Internet Crime Complaint Center (IC3) reported that the American public filed 880,418 cybercrime complaints in 2023, resulting in estimated financial losses exceeding $12.5 billion. This marked a 10% increase in complaints and a 22% rise in reported losses compared to 2022. This surge in cybercrime is a driving factor behind the growth of the PQC market.
Companies in the PQC market are focusing on developing advanced cybersecurity software solutions to enhance data protection against the emerging threats posed by quantum computing. These cybersecurity solutions incorporate tools such as antivirus software, firewalls, encryption, and intrusion detection to safeguard data and systems from cyberattacks. For instance, in December 2023, QuSecure Inc., a US-based cybersecurity software provider, launched QuProtect, a post-quantum cryptography software designed to deliver quantum-resilient encryption to protect against both current and future quantum threats. QuProtect ensures comprehensive security across various environments, offering organizations future-proof data protection, seamless integration, and compliance support, positioning it as a vital solution in safeguarding against emerging cyber risks.
In September 2022, SandboxAQ, a US-based enterprise software company, acquired Cryptosense SA, a France-based provider of post-quantum cryptography solutions. This acquisition enables SandboxAQ to accelerate the global deployment of its PQC solutions for corporate and government clients. It enhances the company's cybersecurity capabilities, allowing large enterprises to manage encryption across their IT infrastructure with a unified system. This acquisition strengthens SandboxAQ's ability to provide a comprehensive view of cryptography usage, offering an added layer of security to enterprises navigating the challenges of quantum threats.
Major players in the post-quantum cryptography (pqc) market are International Business Machines Corporation, Toshiba Corporation, Thales Group, Infineon Technologies AG, NXP Semiconductors, Amazon Web Services, Palo Alto Networks Inc., IDEMIA Group, Entrust Corporation, Rambus Inc., DigiCert Inc., ID Quantique SA, PQShield Ltd., Qrypt Inc., Qnu Labs Pvt. Ltd., Crypto4A Technologies Inc., Cryptonext Security, Xiphera Oy, Crypto Quantique Ltd., Post-Quantum Ltd.
North America was the largest region in the post-quantum cryptography market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in post-quantum cryptography (PQC) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the post-quantum cryptography (PQC) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The post-quantum cryptography (PQC) market consists of revenues earned by entities providing services such as algorithm development, security implementation and compliance support. The market value includes the value of related security solutions and encryption services offered by providers. The post-quantum cryptography (PQC) market also includes sales of secure messaging platforms, post quantum key exchange libraries and digital signature solutions. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Post-Quantum Cryptography (PQC) Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on post-quantum cryptography (pqc) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for post-quantum cryptography (pqc) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The post-quantum cryptography (pqc) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.