Emerging Trends to Drive Post-Quantum Cryptography (PQC) Market Growth at 30.3% CAGR Through 2029

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What Is the Expected CAGR for the Post-Quantum Cryptography (PQC) Market Through 2025?
There has been a significant expansion in the size of the post-quantum cryptography (pqc) market in the past few years. Predictions show it's headed for more growth, moving up from $0.46 billion in 2024 to $0.59 billion in 2025, fueled by a compound annual growth rate (CAGR) of 30.5%. This growth was primarily spurred by factors like the growing need for secure communication, protection from quantum threats, increased support from government and regulatory bodies, as well as the necessity to protect sensitive information. The shift to cloud-based solutions has also contributed greatly to this development.

What's the Projected Size of the Global Post-Quantum Cryptography (PQC) Market by 2029?
The market for post-quantum cryptography (pqc) is forecasted to witness a significant expansion in the upcoming years, with an expected rise to a worth of $1.71 billion in 2029, growing at a compound annual growth rate (CAGR) of 30.3%. This surge during the forecast period is related to the escalating number of cyber attacks, augmented quantum research, heightened awareness regarding data privacy, growing interests in easily accessible financial services, and an increase in demand for secure IoT devices. Key trends anticipated during the forecast period encompass the innovation of fresh cryptographic algorithms, progression in quantum technology, creativity and robustness for forthcoming cybersecurity, product innovation, and quantum computing advancements.

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Top Growth Drivers in the Post-Quantum Cryptography (PQC) Industry: What's Accelerating the Market?
Rising concerns over cybersecurity are projected to stimulate the expansion of the post-quantum cryptography (PQC) market. Cybersecurity is the practice of protecting computer systems, networks, and data from cyber threats, unauthorized entries, and potential harm. The amplified concerns are primarily attributed to rampant, advanced cyberattacks that exploit system weaknesses, leading to severe financial and reputational damage. PQC bolsters cybersecurity by formulating encryption algorithms impervious to the processing power of quantum computers. It guarantees the safety of confidential data and communications, even in a future where quantum technology is prevalent. PQC is instrumental in defending contemporary and future systems from potential attacks driven by quantum technology. For instance, in December 2023, the Internet Crime Complaint Center (IC3), a central unit based in the US for cybercrime reporting, stated that in 2023, the US population reported 880,418 cybercrimes. The approximate financial losses surpassed $12.5 billion, indicating nearly a 10% rise in complaints and a 22% surge in reported losses relative to 2022. Therefore, the escalating cybersecurity concerns are catalyzing the growth of the post-quantum cryptography (PQC) market.

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What Trends Will Shape the Post-Quantum Cryptography (PQC) Market Through 2029 and Beyond?
Principal businesses in the post-quantum cryptography (PQC) market are concentrating on the creation of technologically superior products like cybersecurity software to boost protection from quantum computing threats. This type of software is built to safeguard systems, networks, and data against digital threats using a variety of tools, including antivirus, firewalls, encryption, and intrusion detection, to ensure the security and confidentiality of the data. For example, in December of 2023, QuSecure Inc., based in the United States, rolled out QuProtect, a cybersecurity software utilizing post-quantum cryptography. This cybersecurity solution offers quantum-resistant cryptography for protection from both existing and prospective quantum risks, ensuring extensive security across multiple environments. It offers organizations the advantages of future-proof data protection, easy integration, and regulatory support, making it a strong barrier against upcoming cyber threats.

What Are the Main Segments in the Post-Quantum Cryptography (PQC) Market?
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

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Which Top Companies are Driving Growth in the Post-Quantum Cryptography (PQC) Market?
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.

Which Regions Will Dominate the Post-Quantum Cryptography (PQC) Market Through 2029?
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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