Post Quantum Cryptography Market Research Report – Recent Trends, Growth Opportunities, and Market Size and Share Global Forecast Analysis – 2024 - 2033

Post Quantum Cryptography Market Size Research Report – In a Glance

As per the Research report on global Post Quantum Cryptography market, the market is projected to foresee a CAGR of 44.3% between 2024-2033, and further generate a market size of USD 3.6 billion by the end of 2033. In the year 2023, the market size was valued at USD 0.6 billion.

• The global Post Quantum Cryptography market is projected to grow on account of the Quantum Computing Advancement.
• In Japan, the Post Quantum Cryptography market growth can be attributed to the Increasing cyber threats due to digitalization.
• KDMI analyst’s growth analysis foresees Lack of Awareness to challenge the market growth.
• The North America Post Quantum Cryptography market is projected to dominate the global market.

Post Quantum Cryptography Market Analysis

Post quantum cryptography refers to the cryptographic algorithms and protocols which are designed to resist attacks by quantum computers, which is a quantum mechanical phenomenon to solve problems that are intractable for classic computers. Its aim is to ensure the data security in future where quantum computing can potentially compromise the standards. The global Post Quantum Cryptography market is expected to rise due to the quantum computing advancement. As the quantum computer threats to break the traditional cryptographic methods, it promotes the development and adoption of post0-quantum cryptography. This rising field also focuses of algorithms resistance that prevents quantum attacks, ensuring high data protection in future. According to Researchs, there are two quantum algorithms that pose specific threats to the cryptography, affecting various business with a fear of cyberattacks, the early adoption of post quantum cryptography can save various threats, driving the growth of the market. ID Quantique, QuintessenceLabs, and Toshiba are some of the significant parties in the global market for Post Quantum Cryptography.

Analyst’s Observation on Japan Post Quantum Cryptography Market Research

In Japan, the market growth for Post Quantum Cryptography can be attributed to the Increasing cyber threats due to digitalization. As more businesses and institutions have made their step to enter into the digital world, the occurrence of cyberattacks also increases. Post quantum cryptography offers advanced encryption solution which is capable of defending against future quantum computing threats. According to reports, Japanese companies like Toppan and NICT are collaborating in order to create an early post quantum cryptography adoption in the market, driving the growth of the market. Toshiba, NEC, and Toppan are some of the significant parties in the market for Post Quantum Cryptography in Japan.

Post Quantum Cryptography Market Growth Drivers and Challenges

IoT and Connected Devices:

The integration of IoT devices drives the demand for post-quantum cryptography due to its safety features regarding cyber threats. These devices often lack high security measures, which makes them a vulnerable but adoption of post-quantum cryptography can prevent the transfer of data and protect sensitive information.

Lack of Awareness:

The lack of awareness regarding post quantum threats inhibits the market growth. As many stakeholders, including businesses and individuals have not adapted to the cryptographic methods and some are not able to operate it.

Post Quantum Cryptography Market Segmentation

Our experts at KD Market Insights have segmented the global Post Quantum Cryptography market research report as:

Post Quantum Cryptography Market Regional Synopsis

The North America Post Quantum Cryptography market is majorly driven by various application in sectors such as government and defense, financial, automotive, healthcare, and IT and telecom. In government and defense sector, strict data protection requirements from quantum threats, drives the adoption of post quantum cryptography. In order to safeguard information and communication of the force the adoption of this method becomes a necessity. Financial institutions are adopting it to perform secure transaction and safeguard sensitive financial data. It and telecom industry deeply rely on this technology to prevent the leakage of its data and to secure communication networks. According to reports, the US Army is showing that they are committed to protect their data and networks through the use of post quantum cryptography solutions, driving the market growth.

As per our analysts at KD Market Insights, the following five players lead the North America Post Quantum Cryptography market growth:

• Qabacus
• IBM
• Microsoft
• PQShield
• Quantum Xchange

Post Quantum Cryptography Market Competitive Landscape

Some of the key players who top the global Post Quantum Cryptography market share:

• ID Quantique
• QuintessenceLabs
• Toshiba
• QuantumCTek
• Magiq Technologies
• Crypta Labs
• Qasky
• Qubitekk
• ISARA
• Nucrypt
• Quantum Xchange
• Qutools

Post Quantum Cryptography Market Recent Developments

• Toshiba partnered with Safe Quantum to address the growing curiosity of potential users in North America who are seeking to gain a deeper understanding of QKD solutions as a novel approach to protect their communications from potential threats.
• ISARA collaborated with Crypto4A collaborate to provide organizations with next-generation security for digital transformations, combining Crypto4A'shardware-anchored Qx Trust Architecture and ISARA's software expertise in implementing crypto-agility and quantum-safe security.