Post Quantum Cryptography Pqc Market
Post-Quantum Cryptography (PQC) Market Forecasts to 2030 - Global Analysis By Solution (Quantum-safe hardware, Quantum-resistant algorithms, Quantum-safe cryptographic libraries, Quantum-safe VPN, email service and messaging systems and Other Solutions), Service, Organization Size, Security Type, End User and By Geography
According to Stratistics MRC, the Global Post-Quantum Cryptography (PQC) Market is accounted for $302.5 million in 2024 and is expected to reach $2953.9 million by 2030 growing at a CAGR of 46.2% during the forecast period. Post-Quantum Cryptography (PQC) is a branch of cryptography focused on developing encryption algorithms resilient against attacks by quantum computers. Unlike traditional cryptographic methods like RSA and ECC, which could be easily broken by quantum algorithms (such as Shor's algorithm), PQC uses mathematical problems believed to be resistant to quantum attacks, like lattice-based, hash-based, and code-based systems.
Market Dynamics:
Driver:
Growing quantum computing advancements
Growing advancements in quantum computing methods, such as RSA and ECC, can be easily compromised by quantum algorithms like Shor's. As quantum computers become more powerful and accessible, organizations are increasingly motivated to invest in PQC solutions to safeguard sensitive data against future threats. This urgency drives research and development in quantum-resistant algorithms, fostering collaboration between academia and industry. Consequently, the need for secure communication and data protection in a quantum era fuels the growth of the PQC market.
Restraint:
High implementation costs
Developing and integrating PQC solutions often requires substantial investment in research, hardware, and software, which can be a barrier for small to medium-sized enterprises. Furthermore, existing systems may need extensive upgrades or overhauls to accommodate PQC algorithms, adding to costs. Organizations may also face challenges in training personnel to handle these advanced cryptographic solutions. As a result, the high financial burden can slow down the overall adoption of PQC in various sectors, limiting market growth.
Opportunity:
Increasing demand in financial and defense sectors
The increasing demand for robust security solutions in the financial and defense sectors, the need to protect sensitive customer data and transactions from potential quantum attacks drives investment in advanced cryptographic methods. Similarly, the defense sector, facing threats to national security and sensitive communications, prioritizes PQC to safeguard critical information against future quantum computing capabilities. As both sectors recognize the urgency of implementing quantum-resistant encryption, they contribute to the growth and innovation of PQC technologies, fostering a secure digital environment.
Threat:
Potential technological limitations
High implementation costs can struggle to allocate sufficient budgets for transitioning from traditional systems to advanced PQC solutions, resulting in delayed adoption. This financial barrier can also limit investments in necessary infrastructure, skilled personnel, and ongoing maintenance. Moreover, if businesses perceive the costs as outweighing potential benefits, they may hesitate to explore or develop innovative applications. Consequently, this reluctance to invest can stifle advancements, keeping organizations vulnerable to emerging threats and technological limitations.
Covid-19 Impact
The COVID-19 pandemic accelerated digital transformation increased the demand for robust cybersecurity measures, including Post-Quantum Cryptography (PQC). As businesses shifted to remote work and digital services, concerns over data security intensified, highlighting vulnerabilities in existing encryption methods. This urgency propelled investments in PQC research and development, as organizations sought to future-proof their systems against potential quantum threats. Additionally, the pandemic emphasized the need for secure communication channels, further driving interest in advanced cryptographic solutions to safeguard sensitive information.
The healthcare segment is expected to be the largest during the forecast period
The healthcare segment is estimated to have a lucrative growth, due to emphasizing the need for secure data protection. As healthcare organizations increasingly adopt digital health records, telemedicine, and IoT devices, safeguarding patient data from cyber threats becomes critical. The potential of quantum computers to breach traditional encryption methods raises concerns about patient privacy and compliance with regulations like HIPAA. Consequently, healthcare providers are investing in PQC solutions to ensure the confidentiality and integrity of sensitive information, driving demand and growth of the market.
The retail & ecommerce segment is expected to have the highest CAGR during the forecast period
The retail & ecommerce segment is anticipated to witness the highest CAGR growth during the forecast period, due to the need for enhanced data security. As online shopping expands, protecting customer data, payment information, and transaction details becomes crucial. Retailers increasingly adopt PQC solutions to safeguard against quantum threats, ensuring compliance with data protection regulations. Additionally, the rise of digital wallets and online payment systems amplifies the demand for secure encryption methods. This heightened focus on security, coupled with the growing adoption of cloud services, further fuels investments in PQC technologies to mitigate potential risks associated with quantum computing.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period due to increased digitalization and cybersecurity awareness. Governments and enterprises are prioritizing the development of quantum-resistant encryption to safeguard sensitive data against potential quantum attacks. Key industries such as finance, telecommunications, and healthcare are investing in PQC to enhance their security frameworks. Additionally, collaborations between academic institutions and technology firms are fostering research and innovation in quantum-resistant algorithms. As the region becomes a hub for technological advancements, the demand for PQC solutions is expected to grow significantly.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to the urgency to safeguard sensitive data against potential quantum attacks. With significant investments from government agencies and private sectors, there’s a strong push for research and development in PQC solutions. The region benefits from a robust technology infrastructure, fostering innovation and collaboration among leading cybersecurity firms and academic institutions. Additionally, rising awareness of quantum computing’s implications encourages businesses to adopt PQC strategies, ensuring long-term data protection and compliance with evolving security standards.
Key players in the market
Some of the key players profiled in the Post-Quantum Cryptography (PQC) Market include Google, IBM, Microsoft, NXP Semiconductors, Intel Corporation, Huawei Technologies Co., Ltd., Cisco Systems, Inc., Infineon Technologies AG, Amazon Web Services (AWS), Qualcomm, CryptoNext Security, PQShield, Crypto4A Technologies, Thales, ISARA, Post-Quantum, Rambus, Sandbox AQ, Starkware and VMware.
Key Developments:
In October 2024, Google launched several new AI features for Google Workspace, designed to enhance productivity and collaboration. These features include improved AI-driven suggestions in Docs and Sheets, making it easier for teams to collaborate in real-time.
In September 2024, Google Cloud has partnered with Sony Interactive Entertainment (SIE) to enhance PlayStation's cloud gaming capabilities. This partnership aims to leverage Google's AI and machine learning technologies to improve game streaming experiences for users.
In August 2024, Google announced a partnership with Shopify to integrate its e-commerce tools more effectively into the Shopify platform. This partnership aims to help retailers reach a wider audience through enhanced advertising solutions and seamless shopping experiences.
Solutions Covered:
• 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 products
• Other Solutions
Services Covered:
• Design, Implementation, & Consulting services
• Migration services
• Quantum risk assessment
• Other Services
Organization Sizes Covered:
• Small and Medium Enterprises
• Large Enterprises
Security Types Covered:
• Application Security
• Network Security
• Healthcare
• Other Security Types
End Users Covered:
• BFSI
• Government & Defense
• Healthcare
• IT & ITES
• Retail & ecommerce
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Post-Quantum Cryptography (PQC) Market, By Solution
5.1 Introduction
5.2 Quantum-safe hardware
5.3 Quantum-resistant algorithms
5.4 Quantum-safe cryptographic libraries
5.5 Quantum-safe VPN, email service, and messaging systems
5.6 Quantum-safe blockchain solutions
5.7 Quantum-safe authentication solutions
5.8 Quantum-resistant encryption products
5.9 Other Solutions
6 Global Post-Quantum Cryptography (PQC) Market, By Service
6.1 Introduction
6.2 Design, Implementation, & Consulting services
6.3 Migration services
6.4 Quantum risk assessment
6.5 Other Services
7 Global Post-Quantum Cryptography (PQC) Market, By Organization Size
7.1 Introduction
7.2 Small and Medium Enterprises
7.3 Large Enterprises
8 Global Post-Quantum Cryptography (PQC) Market, By Security Type
8.1 Introduction
8.2 Application Security
8.3 Network Security
8.4 Healthcare
8.5 Other Security Types
9 Global Post-Quantum Cryptography (PQC) Market, By End User
9.1 Introduction
9.2 BFSI
9.3 Government & Defense
9.4 IT & ITES
9.5 Retail & eCommerce
9.6 Other End Users
10 Global Post-Quantum Cryptography (PQC) Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Google
12.2 IBM
12.3 Microsoft
12.4 NXP Semiconductors
12.5 Intel Corporation
12.6 Huawei Technologies Co., Ltd.
12.7 Cisco Systems, Inc.
12.8 Infineon Technologies AG
12.9 Amazon Web Services (AWS)
12.10 Qualcomm
12.11 CryptoNext Security
12.12 PQShield
12.13 Crypto4A Technologies
12.14 Thales
12.15 ISARA
12.16 Post-Quantum
12.17 Rambus
12.18 Sandbox AQ
12.19 Starkware
12.20 VMware
List of Tables
1 Global Post-Quantum Cryptography (PQC) Market Outlook, By Region (2022-2030) ($MN)
2 Global Post-Quantum Cryptography (PQC) Market Outlook, By Solution (2022-2030) ($MN)
3 Global Post-Quantum Cryptography (PQC) Market Outlook, By Quantum-safe hardware (2022-2030) ($MN)
4 Global Post-Quantum Cryptography (PQC) Market Outlook, By Quantum-resistant algorithms (2022-2030) ($MN)
5 Global Post-Quantum Cryptography (PQC) Market Outlook, By Quantum-safe cryptographic libraries (2022-2030) ($MN)
6 Global Post-Quantum Cryptography (PQC) Market Outlook, By Quantum-safe VPN, email service, and messaging systems (2022-2030) ($MN)
7 Global Post-Quantum Cryptography (PQC) Market Outlook, By Quantum-safe blockchain solutions (2022-2030) ($MN)
8 Global Post-Quantum Cryptography (PQC) Market Outlook, By Quantum-safe authentication solutions (2022-2030) ($MN)
9 Global Post-Quantum Cryptography (PQC) Market Outlook, By Quantum-resistant encryption products (2022-2030) ($MN)
10 Global Post-Quantum Cryptography (PQC) Market Outlook, By Other Solutions (2022-2030) ($MN)
11 Global Post-Quantum Cryptography (PQC) Market Outlook, By Service (2022-2030) ($MN)
12 Global Post-Quantum Cryptography (PQC) Market Outlook, By Design, Implementation, & Consulting services (2022-2030) ($MN)
13 Global Post-Quantum Cryptography (PQC) Market Outlook, By Migration services (2022-2030) ($MN)
14 Global Post-Quantum Cryptography (PQC) Market Outlook, By Quantum risk assessment (2022-2030) ($MN)
15 Global Post-Quantum Cryptography (PQC) Market Outlook, By Other Services (2022-2030) ($MN)
16 Global Post-Quantum Cryptography (PQC) Market Outlook, By Organization Size (2022-2030) ($MN)
17 Global Post-Quantum Cryptography (PQC) Market Outlook, By Small and Medium Enterprises (2022-2030) ($MN)
18 Global Post-Quantum Cryptography (PQC) Market Outlook, By Large Enterprises (2022-2030) ($MN)
19 Global Post-Quantum Cryptography (PQC) Market Outlook, By Security Type (2022-2030) ($MN)
20 Global Post-Quantum Cryptography (PQC) Market Outlook, By Application Security (2022-2030) ($MN)
21 Global Post-Quantum Cryptography (PQC) Market Outlook, By Network Security (2022-2030) ($MN)
22 Global Post-Quantum Cryptography (PQC) Market Outlook, By Healthcare (2022-2030) ($MN)
23 Global Post-Quantum Cryptography (PQC) Market Outlook, By Other Security Types (2022-2030) ($MN)
24 Global Post-Quantum Cryptography (PQC) Market Outlook, By End User (2022-2030) ($MN)
25 Global Post-Quantum Cryptography (PQC) Market Outlook, By BFSI (2022-2030) ($MN)
26 Global Post-Quantum Cryptography (PQC) Market Outlook, By Government & Defense (2022-2030) ($MN)
27 Global Post-Quantum Cryptography (PQC) Market Outlook, By IT & ITES (2022-2030) ($MN)
28 Global Post-Quantum Cryptography (PQC) Market Outlook, By Retail & eCommerce (2022-2030) ($MN)
29 Global Post-Quantum Cryptography (PQC) Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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