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What CAGR Is Anticipated for the Post-Quantum Cryptography (PQC) Market Through 2029?

The market size of post-quantum cryptography (pqc) has been exhibiting an exponential growth pattern in last few years. The market which was valued at $0.46 billion in 2024, is set to grow to $0.59 billion in 2025, emanating a compound annual growth rate (CAGR) of 30.5%. Factors contributing to this growth during the historic phase include a rising demand for encrypted communication, pivotal need for defenses against quantum risks, expanding governmental and regulatory backing, an escalating necessity to protect confidential data, along with a growing preference for cloud-based services.

In the coming years, the post-quantum cryptography (pqc) market is projected to witness a significant surge, reaching a size of $1.71 billion by 2029 with a compound annual growth rate (CAGR) of 30.3%. This expected growth during the forecast period can be linked to the escalating number of cyber threats, expanded quantum research, the amplified awareness towards data privacy, a rising interest in accessible financial services, and increased demand for secure IoT devices. Major anticipated trends within this forecast period encompass the innovation of new cryptographic algorithmic, developments in quantum technology, innovations and resilience in cybersecurity for the future, product innovation, and advances in quantum computing.

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What Market Forces Are Driving The Post-Quantum Cryptography (PQC) Sector In 2025 And Beyond?

An uptick in concerns over cybersecurity is anticipated to propel the expansion of the post-quantum cryptography (PQC) market. Cybersecurity is the process of protecting computer systems, networks, and data from cyber threats, unlawful access, and potential harm. These escalating concerns originate from incessant and sophisticated cyberattacks that increasingly leverage system loopholes, consequently causing considerable financial and reputational harm. Post-quantum cryptography (PQC) bolsters cybersecurity by creating encryption algorithms impervious to the computational force of quantum computers. It safeguards sensitive data and communication even in a future where quantum computing is prevalent. PQC is essential in protecting existing and future systems from potential quantum-centric attacks. For example, in December 2023, data from the Internet Crime Complaint Center (IC3) indicated that in 2023, Americans lodged 880,418 cybercrime complaints, with estimated financial damages exceeding $12.5 billion. This marks an almost 10% surge in complaints and a 22% increase in reported losses compared to 2022. As a result, the escalating concerns over cybersecurity catalyze the expansion of the post-quantum cryptography (PQC) market.

How Is The Global Post-Quantum Cryptography (PQC) Market Categorized By Segments?

The post-quantum cryptography (pqc)market covered in this report is segmented –

1) By Category: Solution, Service

2) By Organization Size: Small And Medium-Sized Enterprises, Large Enterprises

3) By Security Application: Network Security, Application Security

4) By End User: Banking, Financial Services And Insurance (BFSI), Government And Defense, Healthcare, Information Technology And Information Technology Enabled Services, Retail And E-Commerce

Subsegments:

1) By Solution: Software-Based Encryption, Hardware-Based Encryption, Key Management Systems, Quantum Key Distribution (QKD), Digital Signatures

2) By Service: Consulting Services, Deployment And Integration, Support And Maintenance, Training And Education, Managed Security Services

Which Emerging Trends And Strategic Shifts Are Shaping The Post-Quantum Cryptography (PQC) Market?

Many leading firms in the post-quantum cryptography (PQC) market are concentrating on creating technologically superior products, like cybersecurity software, to bolster protection against quantum computing threats. This software type is aimed at securing systems, networks and data from online attacks, using resources like antivirus, firewalls, encryption and intrusion detection to uphold data security and confidentiality. As an example, QuSecure Inc., a software company from the US, introduced QuProtect – a post-quantum cryptographical cyber security software in December 2023. This software brings quantum-resistant cryptography to the fore, safeguarding against current and future quantum threats and offering extensive protection across a myriad of platforms. Its benefits to organizations include future-ready data protection, smooth integration, and regulatory conformance, solidifying its standing as a powerful shield against newly emerging cyber threats.

Which Firms Are Considered Leaders In The Post-Quantum Cryptography (PQC) Market Space?

Major companies operating 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.

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What Role Do Regional Policies And Investments Play In Post-Quantum Cryptography (PQC) Market Expansion?

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 the post-quantum cryptography (PQC) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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