Owing to the benefits such as a strong unbackable system and economical in the maintenance of systems along with the offering such as secured communications, the Post- Quantum Cryptography technologies experiencing rapid growth in the industry, thus fostering commendable progress in the global Post- Quantum Cryptography market.
COVID 19 Impacts & Market Status
Due to COVID-19, the adoption of the digitalization process has increased at a remarkable rate resulting in an expansion in post-quantum cryptography technologies. Companies acknowledged the fact that the recovery of information is very tedious and difficult work to do and one of the negative impacts that COVID-19 is the rise in online attacks that can incur heavy losses to the business organization. So, to resolve this problem companies are more inclined to purchase quantum cryptography solutions to secure their data. And this alone resulted in a boom in the post-quantum cryptography market.
North American Region to render Ample Revenue Opportunity
America is predicted to dominate the market of Post-quantum cryptography technology as the nation emerges as the major contributor. This is because high chances of data theft and exposure of confidential information. Moreover, the booming Information Technology management complexity, followed by the much-needed adoption of data privacy and security are significant determinants that are driving the market in the region.
The growing need to protect highly sensitive data from increased cyber-attacks and the prevention of cybercrime are some of the factors that are responsible for stimulation in the market of Post- Quantum Cryptography. Along with that rise in the adoption of the internet of things (IoT) and advancement in the digitalization process are boosting the growth of the global post-quantum cryptography market.
As the sectors such as BFSI are looking forward to increasing their influence in the market using the internet as a profitable platform resulting in gaining more customer base, the adoption of post-quantum cryptography systems is also rising as it provides an effective solution in lessening the cyber-attacks and also effectively minimizing the advance cyber offenses that have been emerging as a serious issue in the current scenario. These factors entirely induce thumping growth in the global post-quantum cryptography market, guaranteeing an overall market size of $ 2587.70 million in 2022 at a CAGR of 38.10 % through the prediction period.
Distinct government units are focusing on getting solutions that enable the various dealing containing confidential data to be secured and away from the vulnerability of being exposed, including misused by the wrong hands. Post-Quantum Cryptography technologies can be used for securing the data along with the use of keeping the information verified. Thus, fostering the growth of the global post-quantum cryptography market.
The key driving factors that are helping in realizing the potential of quantum cryptography technologies industries are the rise in cybercrimes, increasing demand for next-generation solutions for cloud and Internet of things technologies, and adoption of digitalization process by both government and non-government agencies.
Throes of digitalization are surging in the market due to which business organizations adopt technologies that offer them to enter into the web-based model, followed by a rise in day-to-day transactions. For adopting a more customer-oriented approach, business entities provide consumers with various online services. Additionally, several financial solutions are attaining traction by delivering online banking services to their consumers, which can improve the market for such answers in existing as well as upcoming transactions. These applications of quantum cryptography technology proved to provide more lucrative opportunities in this industry in the upcoming years to come.
However, the initial cost of installation and complex process can serve as potential restraint factors that can slow down the development of the global post-quantum cryptography market. The rising concern on the issue of unwanted cyber-attacks and the advancement of technologies are significant factors that are helping in the growth of the market.
The report outlines the key major players who are involved in the global Post- Quantum Cryptography market including AMD evolutionQ, ARM, Blackberry OnBoard Security, Cisco, Isara, Microsoft Research, Infineon, and PQ Solution lmt., Toshiba, Cambridge Quantum Computing, Intel, Envieta, Google, IBM Research, and Rambus. Our research Methodology is based on SWOT analysis which laid emphasis on finding opportunities, threats, scope, and weakness of a particular industry and presents an in-depth analysis of strategies adopted by top industrial organizations.
Latest Innovations in the Global Post-Quantum Cryptography Market: A Snapshot
- October 2022 - SandboxAQ, an intriguing, well-funded start-up that was separated from Google in March, focuses on the nexus between AI and quantum technologies. The company's wide self-described objective is "AI + Quantum software will address key corporate and scientific concerns as the world enters the third quantum revolution." SandboxAQ, a software startup, and investor sees a hybridized quantum-classical computing landscape with AI woven throughout. Enterprise software for evaluating and managing cryptography/data security in the so-called post-quantum era is included in its expanding product line. Naturally, NIST published its first set of official post-quantum algorithms in July, and SandboxAQ was chosen as one of the 12 businesses to take part in its new Migration to Post Quantum Cryptography initiative, which aims to develop and market solutions. The company claims that SandboxAQ's AQ Analyzer product is now available.
- 2022- At the IBM Quantum Summit 2022, IBM announced today that Vodafone Group is partnering with the firm on quantum-safe cybersecurity and joining the IBM Quantum Network, giving the company cloud access to IBM's cutting-edge quantum computing capabilities and its leading industry knowledge. To evaluate and advance future quantum use cases in telecoms, the international telecommunications corporation will collaborate with IBM.
- October 2022 - In addition to the first Zero Trust SIM for mobile device security, Cloudflare also unveiled a $1.25 Million investment initiative for companies to expand their operations. The chosen cyber algorithm by NIST is now supported by Cloudflare, the first content delivery network. Although this choice may seem hasty, it comes just in time to stop harvest-now, decrypt-later attacks.
The information on technological and economic advancements is summarized in this report. And provide appropriate information from well-known leading market participants. After compiling data from reliable sources, we made it available to users who expressed interest in it, assisting them in making administration and informed judgments. The research conducts a thorough examination of the market and draws conclusions regarding the major companies’ positions, the services they provided, business partnerships that facilitated growth, joint venture agreements made, and potential mergers and acquisitions in recent years.
Post- Quantum Cryptography Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2029||$ 2587.70 million|
|Growth Rate||CAGR of 38.10 % during 2021-2029|
|Segment Covered||Type, Security Type, Organization Size, Industrial Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||AMD evolutionQ, ARM, Blackberry OnBoard Security, Cisco, Isara, Microsoft Research, Infineon, and PQ Solution lmt., Toshiba, Cambridge Quantum Computing, Intel, Envieta, Google, IBM Research & among others.|
Key Segment Analysis of Global Post-Quantum Cryptography Market
Type Overview, 2019 – 2029 (USD Million)
- Multivariate Cryptography
- Lattice-based Cryptography
- Hash-based Cryptography
- Symmetric key quantum resistance
- Code-based Cryptography
Security Type Overview, 2019 – 2029 (USD Million)
- Application Security
- Network Security
Organization Size Overview, 2019- 2029 ( USD Million)
- Large Enterprise
- Small & Medium Enterprises
Industrial Application Overview, 2019- 2029 ( USD Million)
- Financial Sector Service
- IT Sector
- Military & Defense
Region Overview, 2019-2029[ USD Million]
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa