Post-Quantum Cryptography (PQC) Market is expected to grow at a CAGR of 42.50% through 2030F
The
Global Post-Quantum Cryptography (PQC) Market is led by North America, driven
by advanced cybersecurity infrastructure, regulatory leadership, and active
adoption by large enterprises, during the forecast period 2026-2030F
According to TechSci Research report, “Post-Quantum Cryptography (PQC)
Market - Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2030F, The Global Post-Quantum Cryptography (PQC) Market was
valued at USD 297.82 Million in 2024 and is expected to reach USD 2493.97
Million by 2030 with a CAGR of 42.50% through 2030.
Governments worldwide have recognized the national
security implications posed by quantum computing. Initiatives such as the U.S.
National Institute of Standards and Technology (NIST) Post-Quantum Cryptography
project, launched in 2016, are setting the stage for global PQC
standardization. In 2022, NIST announced its first group of PQC algorithms
selected for standardization, prompting industries to prepare for regulatory
shifts. This regulatory momentum ensures that critical infrastructure sectors —
including defense, finance, and healthcare — align their cryptographic measures
with forthcoming quantum-resistant standards, thereby fueling demand in the
Global Post-Quantum Cryptography (PQC) Market.
Beyond regulatory bodies, national defense and
cybersecurity agencies are also issuing guidelines that encourage early
adoption of PQC technologies. Countries like the U.S., Germany, and China have
increased their funding for quantum-safe initiatives, understanding that
delayed action could expose national data and critical communications to future
decryption risks. Such governmental interventions not only create a market pull
but also establish PQC as a compliance requirement, rather than just a best practice,
ensuring a steady growth trajectory for the Global Post-Quantum Cryptography
(PQC) Market.
Collaborative partnerships among technology
companies, academic institutions, and government agencies are emerging as a
dominant trend within the Global Post-Quantum Cryptography (PQC) Market. These
collaborations are fostering a multidisciplinary approach to PQC development,
bringing together cryptographic research, practical engineering, and
policy-making expertise. Such partnerships accelerate innovation by enabling
access to cutting-edge research and shared resources, which individual
organizations may not possess independently. Universities are contributing
advanced cryptographic theories, while tech firms provide scalable deployment
platforms, and governments ensure alignment with national security objectives.
This collaboration trend also plays a vital role in
establishing open-source projects and pilot programs that test PQC solutions in
real-world environments. By involving a wide range of stakeholders, these
initiatives help refine algorithms, address practical implementation
challenges, and enhance market readiness. The success of projects like the Open
Quantum Safe Project and partnerships under NIST’s PQC initiatives showcase how
collaborative efforts can advance both research and commercialization. As these
alliances strengthen, they foster a robust ecosystem that accelerates
innovation and market adoption, significantly influencing the trajectory of the
Global Post-Quantum Cryptography (PQC) Market.
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In
2024, the IT & ITES segment emerged as the fastest-growing vertical in the
Global Post-Quantum Cryptography (PQC) Market, fueled by the sector’s critical
role in managing vast amounts of sensitive data and providing cybersecurity
solutions across industries. With the rapid expansion of cloud services,
digital platforms, and enterprise IT systems, IT & ITES companies faced
growing pressure to secure client data against future quantum-based threats.
These firms became early adopters of post-quantum cryptographic solutions,
recognizing the need to integrate quantum-safe algorithms within their
infrastructure to maintain trust and meet evolving compliance requirements.
The
demand for managed security services, SaaS platforms, and cloud-based
applications surged, further boosting the segment’s growth in the PQC market.
Companies in this space have been proactively collaborating with cryptography
providers and technology vendors to upgrade their security frameworks, ensuring
readiness for the quantum era. The shift toward hybrid cryptography, combining
traditional and quantum-safe algorithms, became a key trend among IT service
providers. As businesses globally seek partners capable of offering
quantum-resistant security solutions, the IT & ITES segment is expected to
remain a primary growth driver in the Global Post-Quantum Cryptography (PQC)
Market over the coming years.
In
2024, the Asia Pacific region emerged as the fastest-growing market in the
Global Post-Quantum Cryptography (PQC) Market, driven by rapid digital
transformation, increasing cyber threats, and strong government initiatives to
enhance cybersecurity resilience. Countries such as China, Japan, South Korea,
and India actively invested in post-quantum research, regulatory frameworks,
and adoption of quantum-safe technologies across sectors like finance, defense,
and critical infrastructure. The region also witnessed growing collaborations
between local enterprises and global technology providers to develop and deploy
PQC solutions. With a large base of technology-driven industries, rising
awareness of quantum computing risks, and proactive national cybersecurity
strategies, Asia Pacific is poised for significant expansion in the PQC market
over the forecast period.
Key
market players in the Post-Quantum Cryptography (PQC) Market are: -
- IBM
Corporation
- Microsoft
Corporation
- Google
LLC
- Amazon.com,
Inc.
- Intel
Corporation
- Quantinuum
Ltd.
- ISARA
Corporation
- SandboxAQ,
Inc.
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“The
Global Post-Quantum Cryptography (PQC) Market is expected to grow steadily in
the coming years, driven by the rising threat of quantum-enabled cyberattacks
and the global push for data security compliance. As governments finalize PQC
standards and enterprises prioritize future-proof encryption, adoption across
sectors like finance, defense, and critical infrastructure will accelerate. The
increasing integration of PQC into cloud services, cybersecurity platforms, and
embedded systems will further expand market reach. Strategic collaborations
between technology providers, research institutions, and regulatory bodies will
fuel innovation, positioning PQC as a core element of next-generation
cybersecurity solutions worldwide.” said Mr. Karan Chechi, Research Director of
TechSci Research, a research-based global management consulting firm.
“Post-Quantum
Cryptography (PQC) Market – Global Industry Size, Share, Trends, Opportunity,
and Forecast, Segmented By Solution (Quantum-Safe Hardware, Quantum-Resistant
Algorithms, Quantum-Safe Cryptographic Libraries, Quantum-Safe VPN, Email
Service, and Messaging Systems, Quantum-Safe Blockchain Solutions, Quantum-Safe
Authentication Solutions, Quantum-Resistant Encryption Solutions), By
Organization Size (Large Enterprises, SMEs), By Vertical (BFSI, Government
& Defense, Healthcare, IT & ITES, Retail & E-Commerce, Others), By
Region, By Competition, 2020-2030F” has evaluated the future growth
potential of Post-Quantum Cryptography (PQC) Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Post-Quantum Cryptography (PQC) Market.
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