Post-Quantum Cryptography Market worth $3.80 billion by 2031 - Report by MarketsandMarkets™

DELRAY BEACH, Fla., Oct. 27, 2026 /PRNewswire/ -- According to MarketsandMarkets™, the Post-Quantum Cryptography Market is projected to grow from USD 0.60 billion in 2026 to USD 3.80 billion by 2031, registering a CAGR of 44.5% during the forecast period.

Browse 400 market data Tables and 70 Figures spread through 350 Pages and in-depth TOC on 'Post-Quantum Cryptography Market - Global Forecast to 2031'

Post-Quantum Cryptography Market Size & Forecast:

• Market Size Available for Years: 2022–2031
• 2025 Market Size: USD 0.42 billion
• 2026 Market Size: USD 0.60 billion
• 2031 Projected Market Size: USD 3.80 billion
• CAGR (2026–2031): 44.5%

Post-Quantum Cryptography Market Trends & Insights:

• Increasing regulatory focus on cybersecurity, rising investments in quantum-safe security technologies, and the need to safeguard long-lived data against future decryption threats are accelerating the transition toward post-quantum cryptography.
• By offering, the solutions segment is expected to dominate the PQC market in 2026, accounting for 77.0% of the market share.
• By service, the design, implementation, and consulting segment is expected to dominate the market in 2026, accounting for 62.0% of the market share.
• By solution, the quantum-safe hardware segment is expected to dominate the market in 2026, accounting for 35.1% of the market share.
• By organization size, large enterprises are expected to dominate the PQC market in 2026, accounting for 77.0% of the market share.
• North America accounted for 62.3% of the PQC market in 2026.

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A key driver is the growing need for cryptographic agility, which enables organizations to replace or update cryptographic algorithms as security requirements evolve. Cryptographic functions are embedded across applications, digital certificates, network protocols, hardware, and enterprise infrastructure, making future upgrades complex and resource-intensive. Organizations are increasingly prioritizing flexible cryptographic architectures that support algorithm transitions without requiring extensive redesign of existing systems. This is encouraging demand for adaptable cryptographic software, centralized key management, discovery tools, and quantum-safe infrastructure that can accommodate evolving security requirements.

Based on solution, the quantum-safe hardware segment is expected to hold the largest market.

Quantum-safe hardware supports integrating cryptographic capabilities into devices, infrastructure, and security appliances. Hardware security modules, secure elements, and embedded security components can protect cryptographic keys and support secure operations in environments with stringent security requirements. As organizations modernize their infrastructure, hardware vendors are incorporating capabilities designed to support quantum-resistant algorithms alongside existing cryptographic mechanisms. These developments matter for data centers, enterprise security infrastructure, telecommunications equipment, and connected devices. Hardware-based implementations must also address processing requirements, memory constraints, and compatibility with established systems. Demand for quantum-safe hardware is expected to remain significant as organizations upgrade security components and incorporate quantum-resistant capabilities into new infrastructure deployments.

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By vertical, the IT & ITeS segment is projected to register the fastest growth during the forecast period.

IT service providers, cloud platforms, software vendors, and technology infrastructure operators manage cryptographic functions across applications, digital identities, data exchanges, and communication protocols. Transitioning these environments requires updates to cryptographic libraries, authentication mechanisms, certificates, and secure communication systems. The scale and interconnectedness of technology platforms drive demand for automated cryptographic discovery, compatibility testing, and centralized migration management. Technology providers must also evaluate how quantum-resistant algorithms can be integrated without disrupting customer services or application performance. IT service providers are positioned to support PQC consulting, implementation, and migration projects across multiple industries. These requirements are expected to accelerate adoption across the IT & ITeS segment throughout the forecast period.

By region, North America is estimated to account for the largest market share.

North America's leading position is supported by strong cybersecurity investment, an established technology ecosystem, and the presence of major cloud providers, semiconductor companies, and cryptographic security vendors. Organizations across financial services, government, defense, and technology are assessing quantum-related risks and preparing to modernize existing cryptographic infrastructure. The US government has also advanced PQC adoption through NIST's finalized standards and federal migration guidance, encouraging agencies and suppliers to identify vulnerable cryptographic systems and plan transitions. Demand is expected across quantum-safe hardware, cryptographic software, secure communications, key management, and migration services as organizations incorporate quantum-resistant capabilities into their security architectures.

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Top Companies in Post-Quantum Cryptography Market:

The Top Companies in Post-Quantum Cryptography Market are NXP Semiconductors (Netherlands), Thales (France), AWS (US), IDEMIA (France), Palo Alto Networks (US), ST Engineering (Singapore), DigiCert (US), Kloch (US), Patero (US), Post-Quantum (UK), PQShield (UK), Entrust (US), IBM (US), QNu Labs (India), Utimaco (Germany), JISA Softech (India), pQCee (Singapore), Quantum XChange (US), Keysight Technologies (US), Quantropi (Canada), Arqit (UK), Crypto Quantique (UK), Crypto4A (Canada), CryptoNext Security (France), Qrypt (US), EnQuantum (Israel), Xiphera (Finland), ixscape (Singapore), Keyfactor (US), ResQuant (Poland), Rambus (US), and Archon (British Virgin Islands).

Post-Quantum Cryptography Market - Investment & funding + Merger & Acquisition

Investment Funding Context

The PQC market is moving from cryptographic research toward commercial deployment across enterprise security, digital infrastructure, and connected systems. Vendors are expanding their portfolios to address cryptographic discovery, quantum-safe hardware, secure communications, identity protection, and migration management. In September 2026, IonQ and Congruity360 announced a collaboration to integrate quantum-safe network protection into enterprise data management environments, combining PQC and quantum key distribution capabilities. These developments illustrate the growing focus on integrating quantum-safe technologies into existing enterprise security architectures and delivering deployable solutions for organizations preparing for cryptographic migration.

Revenue Shift Context

The PQC market is shifting toward integrated products and services that help organizations move from cryptographic readiness assessments to practical implementation. Vendors are developing tools for cryptographic asset discovery, vulnerability identification, algorithm migration, certificate management, and quantum-safe key protection. NIST's migration initiative emphasizes cryptographic visibility, risk management, interoperability, and benchmarking as important components of the transition. These requirements are creating commercial opportunities across software licensing, hardware security products, implementation services, and managed cryptographic infrastructure. As organizations modernize existing systems, vendors are increasingly positioning PQC capabilities within broader enterprise security and digital trust platforms.

Mergers and Acquisitions

Mergers, acquisitions, and strategic collaborations are helping vendors expand their quantum-safe technology portfolios and strengthen their positions in adjacent security markets. In October 2026, IonQ announced an agreement to acquire Elisity, combining its PQC and quantum key distribution capabilities with Elisity's Zero Trust security platform. In September 2026, Project Eleven announced it acquired Riva Labs to expand its post-quantum research and engineering capabilities for digital assets and blockchain infrastructure. These developments demonstrate strategic interest in integrating quantum-safe cryptography with enterprise security, digital asset protection, and broader cybersecurity platforms.

POST-QUANTUM CRYPTOGRAPHY MARKET: MERGERS AND ACQUISITIONS, JANUARY 2024–OCTOBER 2026

Company Revenue Share Details

The PQC market includes established technology companies, cybersecurity vendors, semiconductor manufacturers, and specialist providers developing quantum-safe cryptographic products. Companies such as IBM, Thales, NXP Semiconductors, and Utimaco operate across broader technology and security portfolios, while specialist vendors such as pQCee, PQShield, QNu Labs, and Quantropi focus on specific quantum-safe technologies. Competitive offerings span cryptographic hardware, software libraries, cryptographic discovery, migration management, identity security, key management, and secure communications. The market also includes vendors integrating PQC into wider digital trust and enterprise security platforms. However, many companies do not publicly disclose comparable PQC-specific revenue data, limiting the reliability of numerical market-share estimates based solely on overall corporate revenue.

Browse Adjacent Markets: Information Security Market Research Reports & Consulting

Related Market Reports:

Quantum Cryptography Market by Solution (Quantum Key Distribution (QKD), Quantum Random Number Generators (QRNG), Quantum-safe Cryptography), Service (Deployment & Integration, Crypto Consulting) - Global Forecast to 2031

Quantum Key Distribution Market by Offering (Solution and Services), Type (Multiplexed QKD Systems and Long-Distance QKD Systems), Application (Network Security, Data Encryption, Secure Communication) - Global Forecast to 2030

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