The Europe Quantum-resistant Cryptography Solutions Market would witness market growth of 30.9% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Quantum-resistant Cryptography Solutions Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $273.6 million by 2031. The UK market is exhibiting a CAGR of 30% during (2024 - 2031). Additionally, The France market would experience a CAGR of 31.9% during (2024 - 2031).
The demand for secure, scalable cryptographic solutions has intensified as industries embrace digital transformation and the Internet of Things (IoT). IoT connects many devices across healthcare, manufacturing, and energy sectors, enabling seamless data flow and operational efficiency. However, these interconnected systems are vulnerable to cyber threats, particularly with the looming potential of quantum computing.
Additionally, traditional encryption methods may be unable to protect IoT devices from quantum-powered attacks, making quantum-resistant cryptography essential. Quantum-safe solutions are being developed to secure real-time data exchanges across IoT ecosystems, ensuring data integrity and privacy even as cyber threats grow more sophisticated.
In the United Kingdom, demand for quantum-resistant cryptography is bolstered by the government's goal of leading in quantum and AI technologies. The National Quantum Technologies Programme, a £1 billion initiative, aims to advance quantum computing, sensing, and communication technologies, focusing critically on quantum-safe cryptography. This program includes the creation of Quantum Computing Hubs at leading universities like Oxford, Cambridge, and Edinburgh, where research into quantum-resistant encryption is actively underway.
Free Valuable Insights: The Global Quantum-resistant Cryptography Solutions Market will Hit USD 4.1 Billion by 2031, at a CAGR of 31.4%
Based on Type, the market is segmented into Software, Hardware, and Services. Based on Application, the market is segmented into Network Security, Cloud Security, Database Security, and Application Security. Based on End User, the market is segmented into Healthcare, Government & Defense, BFSI, IT & Telecom, Retail & E-commerce, and Other End Users. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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