The "Post-Quantum Cryptography (PQC) Market by Solution (Quantum-Safe Hardware, Quantum-Resistant Encryption Products, Cryptographic Libraries, VPN, Authentication), Service (Migration Services, Quant...
Autore: Business Wire
DUBLIN: The "Post-Quantum Cryptography (PQC) Market by Solution (Quantum-Safe Hardware, Quantum-Resistant Encryption Products, Cryptographic Libraries, VPN, Authentication), Service (Migration Services, Quantum Risk Assessment) - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The Post-Quantum Cryptography (PQC) market size is estimated to grow from USD 302.5 million in 2024 to USD 1.88 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 44.2%
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall PQC market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The main reason for implementing PQC is a direct threat from quantum computing, which can break encryption methods such as RSA (Rivest-Shamir-Adleman) and ECC (Elliptic curve cryptography) exponentially faster than classical computers. Requiring quantum-resistant cryptographic solutions to be implemented is considered a provision for compliance with developing regulatory requirements, such as requirements from the US National Institute of Standards and Technology.
In addition, organizations need to secure long-term fiscal and healthcare-related data from quantum decryption in the future. Very early adoption of PQC can bring competitive military advantages associated with commitment to information security and privacy. Further, technology partner relationships can help ease an organization's migration to quantum-safe cryptography through technology collaborations. For all these reasons, there has been an increasing need for PQC to be used in sensitive data protection to stay compliant.
By Region, BFSI accounts for a larger market share.
The BFSI sector is significantly different from others in the PQC market for several reasons. Stringent regulations like GDPR compel the use of advanced encryption to protect sensitive data and ensure compliance as one such reason. BFSI organizations must rely on PQC because financial data is the most valuable and has become very attractive to cybercriminals, making it a must-guarded item to retain customer trust.
Quantum Safe Hardware accounts for a larger market share by Solutions Segment.
Quantum-safe hardware is estimated to hold the largest market share in the PQC market. As quantum computing progresses, traditional cryptographic methods like RSA and ECC become vulnerable to quantum attacks. Quantum-safe hardware provides the foundational infrastructure needed to implement PQC algorithms effectively, making it indispensable for organizations looking to protect their data against future quantum threats. Hardware such as HSM (Hardware security modules) and TPM (Trusted Platform Module) Play a significant role in securing communication channels using QKD (Quantum Key Distribution) systems and QRNG (Quantum random number generators). Quantum-safe hardware is needed across multiple industries, including BFSI, healthcare, defense, and IT. This broad applicability ensures that quantum-safe hardware will be a central focus of PQC solutions, driving significant demand and market share.
By region, North America accounts for the highest market size during the forecast period.
North America, particularly the US, is leading in adopting PQC due to significant government initiatives and investments. US Agencies like the National Institute of Standards and Technology (NIST) have been at the forefront of standardizing PQC algorithms, driven by concerns over future quantum computing threats. The US & Canada government support accelerates regional research, development, and deployment. North American companies and research institutions are investing substantially in PQC research and development to stay ahead of emerging quantum threats. North America's robust technology ecosystem, including major tech firms and universities, fosters innovation in PQC, accelerating market growth and development.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $302.5 Million |
| Forecasted Market Value (USD) by 2029 | $1887.9 Million |
| Compound Annual Growth Rate | 44.2% |
| Regions Covered | Global |
Market Overview and Industry Trends
Drivers
Restraints
Opportunities
Challenges
Impact of Generative AI on Post-Quantum Cryptography Market
Case Study Analysis
Value Chain Analysis
Ecosystem Analysis
Porter's Five Forces Model Analysis
Pricing Model Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Tariff & Regulatory Landscape
Key Stakeholders and Buying Criteria
Trends/Disruptions Impacting Customer Business
Key Conferences & Events
Business Model Analysis
Investment and Funding Scenario
Companies Featured
For more information about this report visit https://www.researchandmarkets.com/r/3pi9oq
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Fonte: Business Wire