Market Overview:
The Post-Quantum Cryptography (PQC) Market is experiencing significant expansion, driven by The Heightened Threat of Quantum Computing to Current Cryptographic Systems, Increasing Adoption of Digital Technologies and Data Security Requirement and Government Initiatives and Standardization Efforts. According to IMARC Group's latest research publication, "Post-Quantum Cryptography (PQC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2025-2033", The global post-quantum cryptography (PQC) market size was valued at USD 310.4 Million in 2024. Looking forward, IMARC Group estimates the market to reach USD 9,403.4 Million by 2033, exhibiting a CAGR of 45.3% from 2025-2033.
This detailed analysis primarily encompasses industry size, business trends, market share, key growth factors, and regional forecasts. The report offers a comprehensive overview and integrates research findings, market assessments, and data from different sources. It also includes pivotal market dynamics like drivers and challenges, while also highlighting growth opportunities, financial insights, technological improvements, emerging trends, and innovations. Besides this, the report provides regional market evaluation, along with a competitive landscape analysis.
Download a sample PDF of this report: https://www.imarcgroup.com/post-quantum-cryptography-market/requestsample
Our Report Includes:
- Market Dynamics
- Market Trends and Outlook
- Competitive Analysis
- Industry Segmentation
- Strategic Recommendations
Growth Factors in the Post-Quantum Cryptography (PQC) Industry:
- The Heightened Threat of Quantum Computing to Current Cryptographic Systems
Rapid development in quantum computing is one of the most significant driving forces of the market. This quantum computer, with its unparalleled computational power, will be used to break the widely used cryptography algorithms, namely RSA, ECC, and DSA. Much of the global digital infrastructure depends on these aforementioned algorithms for security purposes. Traditional encryption methods are based on the difficulty of factoring large numbers, which is a mathematical problem; quantum algorithms like Shor's can solve it exponentially faster than a classical computer. A serious threat is posed to data security for industries in the finance, health, defense, and telecommunications industries because they handle sensitive information. In 2024, the Banque de France (BDF) and the Monetary Authority of Singapore (MAS) declared the fruitful completion of a major joint experiment in PQC managed across continents over conventional Internet technologies.
- Increasing Adoption of Digital Technologies and Data Security Requirement
There is a widespread adoption of digital technologies as represented by the cloud, IoT, and 5G networks-is a catalyst for the need for strong cybersecurity measures, ranging from quantum-resistant cryptography to other, equally important areas. With accelerated digital transformation across industries, organizations are dealing with exponentially higher volumes of sensitive data, from financial transactions to personal information and proprietary business data. New technologies like IoT and edge computing make it even more difficult to ensure security, since these networks are usually decentralized and consist of resource-constrained devices that are harder to secure. According to the 2024 Global Digital Trust Insights survey by PwC, the percentage of companies that saw a data breach over USD 1M increased significantly, from 27% to 36%, year-over-year.
- Government Initiatives and Standardization Efforts
Government-led initiatives and standardization efforts are important drivers of the post-quantum cryptography (PQC) market demand. In the United States, for example, the National Institute of Standards and Technology (NIST) is giving efforts to expand and standardize post-quantum cryptographic algorithms. International attention has arisen from this program because other countries are making investments in comparable initiatives to safeguard such infrastructure and sensitive information. Further, laws are also being enforced to require the usage of quantum-safe encryption techniques in industries like national security, defense, and public safety. Furthermore, in 2024, the US Federal Government submitted a comprehensive report on PQC, which estimated an investment of around $7.1bn on PQC over the next 10 years.
Key Trends in the Post-Quantum Cryptography (PQC) Market
- Dominance of Design, Implementation, and Consulting Services
Design, implementation, and consulting hold 63.7% of the market share. These services constitute a core part of the post-quantum cryptography (PQC) market, helping organizations to comprehend, strategize, and implement quantum-safe solutions. These services include creating secure architectures that incorporate quantum-resistant algorithms, making sure systems are ready to face quantum-enabled threats. Consultants collaborate with organizations to assess their current cryptographic systems, pinpoint weaknesses, and create customized solutions that meet industry-specific demands. Implementation services concentrate on integrating quantum-safe algorithms into business systems, including secure communications, authentication protocols, and data storage solutions. Given that the shift to PQC can be intricate and demands substantial technical knowledge, dependence on consulting and implementation services will increase considerably in the years ahead.
- Healthcare Sector Leading Vertical Adoption
Healthcare holds 28.5% of the market share. The healthcare sector is emerging as a key vertical in the market due to its increasing reliance on digital technologies and the critical need to secure sensitive patient data. With the adoption of electronic health records (EHRs), telemedicine platforms, and connected medical devices, the volume of healthcare data being transmitted and stored digitally has grown exponentially. This makes healthcare organizations attractive targets for cyberattacks, including potential future breaches enabled by quantum computing. PQC solutions, such as quantum-resistant encryption and secure communication protocols, are being integrated into healthcare systems to protect patient privacy, prevent unauthorized access to medical records, and secure proprietary research data.
- Strategic R&D Investments and Product Innovation
One of the primary strategies employed by leading PQC market players is significant investment in research and development (R&D). Companies are allocating substantial resources to develop and refine quantum-resistant cryptographic algorithms and protocols to address the vulnerabilities posed by quantum computing. Market leaders are developing a range of quantum-safe solutions, including quantum-resistant encryption software, hardware security modules (HSMs), secure communication systems, and cryptographic libraries. In 2024, NXP Semiconductors revealed its new i.MX 94 family of applications processors integrated with PQC, created and developed to present safe connectivity for industrial and automotive edge operations.
Leading Companies Operating in the Global Post-Quantum Cryptography (PQC) Industry:
- Nxp Semiconductors
- Thales Group
- Amazon Web Services (AWS)
- Idemia Group
- Palo Alto Networks
- Digicert
- Kloch
- Post-Quantum
- Pqshield
- Entrust
- IBM
Post-Quantum Cryptography (PQC) Market Report Segmentation:
Breakup 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
Quantum-resistant algorithms make up the biggest share in the PQC market, primarily falling into lattice-based cryptography, hash-based cryptography, and multivariate polynomial-based systems.
Breakup by Service:
- Design, Implementation, and Consulting
- Migration Services
- Quantum Risk Assessment
Design, implementation, and consulting represented the largest segment with 63.7% market share, helping organizations comprehend, strategize, and implement quantum-safe solutions.
Breakup by Organization Size:
- Small & Medium-Sized Enterprises
- Large Enterprises
Large enterprises account for the majority of the market share due to their extensive digital infrastructure, high data security requirements, and greater exposure to cyber threats.
Breakup by Vertical:
- Banking, Financial Services, and Insurance (BFSI)
- Government & Defense
- Healthcare
- IT & ITES
- Retail & E-Commerce
- Others
Healthcare represented the largest segment with 28.5% market share due to increasing reliance on digital technologies and critical need to secure sensitive patient data.
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America holds 48.5% of the market share, driven by advancements in quantum computing, strong government policies, presence of major technology players, and increasing adoption across key sectors.
Note: If you require specific details, data, or insights that are not currently included in the scope of this report, we are happy to accommodate your request. As part of our customization service, we will gather and provide the additional information you need, tailored to your specific requirements. Please let us know your exact needs, and we will ensure the report is updated accordingly to meet your expectations.
About Us:
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1–201971–6302
