Post-Quantum Cryptography Market Growth: A $2.84 Billion Surge Driven by Quantum Threats

The field of Post-Quantum Cryptography (PQC) has been thrust into the spotlight as market projections indicate a significant surge in investment and growth. Currently valued at $0.42 billion, the PQC sector is expected to reach an astonishing $2.84 billion by 2030, boasting a staggering compound annual growth rate of 46.2%. This growth is incited by a range of escalating threats, particularly concerning data breaches in key sectors such as healthcare, finance, and government.

Today's rapidly evolving threat landscape is dominated by two key contributors: AI-powered cyber attacks and advancements in quantum computing. As organizations grapple with the implications of potentially powerful quantum computers capable of breaching existing encryption standards, there is a clear urgency to adopt quantum-resistant cryptographic solutions. This has positioned pioneer companies like Scope Technologies Corp., Broadcom Inc., SEALSQ Corp, WISeKey International Holding AG, and CyberArk as frontrunners in this crucial market evolution.

Recent analysis suggests that quantum computers could emerge within the next decade, rendering current encryption standards vulnerable to exploitation. Alarmingly, malicious actors are already engaged in a strategy dubbed