Post-Quantum Cryptography (PQC) Market Rise from $299 Million in 2024 to $2009 Million by 2030, Growing at a 48% CAGR: MarkNtel Advisors

NEW DELHI, Sept. 9, 2025 /PRNewswire/ -- According to the latest research report by MarkNtel Advisors, the Global Post-Quantum Cryptography (PQC) Market size was valued at around USD 299 million in 2024 and is projected to surge to nearly USD 2,009 million by 2030, growing at a remarkable CAGR of 48% during 2025-2030. This record growth is fueled by the rising risk of quantum-enabled cyberattacks, strong compliance mandates, large-scale investments, and rapid integration of PQC solutions across critical industries such as finance, defense, and IT.

Scope of the Report:

• Market Overview: Analysis of the Global Post-Quantum Cryptography (PQC) market size, share, growth, trend, demand, top companies, revenue, and opportunity from 2025 to 2030.
• Segmentation: Breakdown by type, solution, service, enterprise size, and end-users.
• Regional Insights: Examination of market dynamics across North America, Europe, Asia-Pacific, and other regions.
• Trends and Opportunities: Identification of current trends and growth opportunities in PQC.
• Competitive Analysis: Overview of key players and their market strategies.

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What is Post-Quantum Cryptography (PQC)?

The Post-Quantum Cryptography (PQC) Market refers to the ecosystem of algorithms, software, and hardware solutions designed to secure digital communications against quantum computing threats. Unlike traditional encryption methods such as RSA or ECC, PQC solutions leverage lattice-based, code-based, and multivariate cryptographic techniques to ensure data protection even when quantum computers gain the power to break current standards. This market encompasses quantum-resistant algorithms, cryptographic libraries, authentication solutions, blockchain protocols, and consulting services that enterprises and governments are adopting to safeguard sensitive information.

What Drive the Demand for Post-Quantum Cryptography (PQC) in the Global Market?

1. Rising Cybersecurity Risks Drive PQC Demand:

One of the strongest market drivers is the growing sophistication of cyberattacks. Quantum computing (QC) is expected to render traditional cryptographic algorithms obsolete, raising the urgency for quantum-resistant solutions. IBM reports that the average cost of a data breach jumped from USD 4.45 million in 2023 to USD 4.88 million in 2024, with even higher costs for critical sectors.

Cybercriminals are increasingly engaging in "Harvest Now, Decrypt Later" attacks, where they steal encrypted data today with the intent of decrypting it once quantum computers mature. This rising threat is pushing sensitive sectors like banking, defense, and healthcare to accelerate adoption of quantum-safe cryptographic algorithms. For instance, JPMorgan Chase has already tested quantum-safe network communication protocols, showcasing early adoption of PQC in the financial industry.

2. Collaborations & Investments Strengthening Market Expansion:

The PQC market is being propelled by collaboration between technology leaders, academic institutions, and governments. Global investments in quantum computing and cryptography have already exceeded USD 35 billion, with significant contributions from leading economies.

Tech giants are spearheading innovation:

• Microsoft partnered with the Massachusetts Institute of Technology (MIT) to co-develop PQC libraries and toolkits.
• Cisco and Microsoft are testing PQC-integrated VPN protocols to secure enterprise communications.
• PQShield, a PQC industry leader, is developing quantum-safe chips for IoT devices, addressing the surge in connected infrastructure.

Governments are equally active. The U.S. federal government has allocated more than USD 1.2 billion toward quantum research and cybersecurity initiatives in recent years. The Canadian government committed USD 260 million through its National Quantum Strategy, while Europe continues to drive PQC adoption through the EU Cybersecurity Act.

3. Standardization and Compliance Mandates: A Key Growth Catalyst

A pivotal development in PQC adoption is the move toward global standardization. In August 2024, the National Institute of Standards and Technology (NIST) finalized a set of three PQC algorithms, creating a roadmap for industries to adopt quantum-resistant standards.

The National Security Agency (NSA) has mandated PQC adoption across sensitive U.S. agencies, while the EU Cybersecurity Act is enforcing PQC integration into Europe's critical infrastructure. Such compliance requirements are transforming PQC adoption from a discretionary investment into a regulatory necessity, further accelerating global market growth.

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Market Opportunities: PQC Integration with Digital Infrastructure

The rapid expansion of digital infrastructure offers significant opportunities for PQC. With the number of IoT devices expected to surpass 30 billion by 2030, ensuring data confidentiality and device authentication over long lifecycles is becoming a top priority.

• Automotive sector: Continental AG is working to integrate PQC hardware into electronic control units to secure real-time communication in autonomous vehicles.
• Blockchain: Ethereum is exploring quantum-resistant consensus protocols to ensure the long-term integrity of digital assets.
• IoT & Cloud: PQShield and other players are deploying quantum-safe solutions for IoT ecosystems and cloud-based applications, ensuring secure communication for billions of connected devices.

These integrations highlight PQC's role as a cornerstone of cybersecurity in next-generation digital infrastructure.

What are Prime Challenge for the Post-Quantum Cryptography (PQC) Industry?

Cost and Implementation Complexity: Despite its growth potential, the PQC market faces significant challenges. Implementing PQC often requires organizations to overhaul deeply embedded legacy systems, upgrade hardware, and redevelop software libraries.

For example, a large telecom operator may need to replace tens of millions of SIM cards and network nodes-a costly and time-consuming process. large enterprises may spend between USD 10–50 million over 5–7 years on PQC migration.

The European Union Agency for Cybersecurity reported that only 30% of organizations could integrate PQC without major architectural changes. Additionally, a shortage of skilled PQC engineers adds further complexity, increasing dependency on consulting and managed services providers.

Market Trends: Cloud-Based Deployment Accelerates Adoption

A major trend shaping the PQC industry is the shift toward cloud-based deployment. Cloud platforms are offering organizations scalable, flexible, and cost-effective PQC solutions, eliminating the need for full infrastructure overhauls.

• Microsoft Azure has deployed CRYSTALS-Kyber PQC algorithm within Azure Key Vault for quantum-safe key management.
• Cloud providers are offering subscription-based pricing, reducing upfront investment and making PQC adoption feasible for SMEs as well as large enterprises.

This trend is expected to play a central role in driving crypto-agility and rapid PQC adoption across industries.

Post-Quantum Cryptography Market Segmentation Insights:

The MarkNtel Advisors report provides a detailed segmentation of the Global PQC Market (2025–2030):

• By Type: Lattice-Based Cryptography, Code-Based Cryptography, Multivariate Cryptography, Hash-Based Cryptography, Others
• By Solution: Quantum-Resistant Algorithms, Quantum-Safe Hardware, Quantum-Safe Cryptographic Libraries, Quantum-Safe Authentication Solutions, Quantum-Resistant Encryption Solutions, Quantum-Safe VPN, Email, Messaging, Quantum-Safe Blockchain Solutions
• By Service: Design, Implementation, and Consulting, Migration Services, Quantum Risk Assessment
• By Enterprise Size: Small & Medium Enterprises: SMEs, Large Enterprises
• By End User: BFSI, Retail & E-commerce, Healthcare, Government and Defense, IT & ITES, Others, and others.

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Regional Hotspot:

• North America
• South America
• Europe
• The Middle East and Africa
• Asia-Pacific

North America is the dominant region in the Global Post-Quantum Cryptography (PQC) Market, with an estimated market share of about 40%. The region has a high market demand due to substantial public investment and compliance requirements across key sectors such as government and defense.

Recent Industry News:

• April 2025: AWS integrated Module-Lattice-Based Key Encapsulation Mechanism (ML-KEM) into its key and certificate management services, enabling hybrid PQC deployments.
• March 2025: IBM advanced its quantum-safe signature schemes in the NIST PQC process, strengthening global PQC standardization.

Largest Post-Quantum Cryptography (PQC) Industry Leaders By 2030:

• NXP Semiconductor
• Thales
• AWS
• IBM
• IDEMIA
• Palo Alto Networks
• DigiCert
• Kloch Technologies, LLC
• PQ Solutions Limited
• PQShield Ltd.
• Entrust Corporation
• Utimaco
• Crypto Quantique
• Crypto4A
• Cryptonext
• QNU Labs
• Others Players

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FAQs on the Post-Quantum Cryptography (PQC) Market

Q1. What is the size of the global Post-Quantum Cryptography (PQC) market?

Q2. Which regions dominate the PQC market?

Q3. Who are the leading players in the PQC market?

Q4. What industries are adopting PQC the fastest?

Q5. What are the main growth drivers for the PQC market?

Q6. What challenges could slow down PQC adoption?

Q7. What investment opportunities exist in the PQC market?

Q8. What is the expected timeline for PQC commercialization?

Q9. How can enterprises prepare for PQC adoption today?

Q10. Where can I access detailed PQC market research reports?

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We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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