According to a new report, published by KBV research, The Global Quantum-resistant Cryptography Solutions Market is expected to reach $4.1 billion by 2031, rising at a market growth of 31.4% CAGR during the forecast period.
The Network Security segment is anticipating a CAGR of 30.4% during (2024 - 2031). With data moving constantly between devices, systems, and endpoints, securing communication channels has become critical, especially as organizations manage increasingly sophisticated cyber threats. Quantum-resistant cryptographic solutions for network security provide encryption methods that can safeguard data in transit from interception or decryption by quantum computers. This heightened focus on network security ensures that businesses can protect sensitive information, maintain secure communications, and comply with regulatory standards, fueling demand for quantum-resistant solutions in this segment.
The Software segment is leading the Global Quantum-resistant Cryptography Solutions Market by Type in 2023; thereby, achieving a market value of $1.7 billion by 2031. Software solutions that can offer quantum-safe encryption are in high demand as companies grow more conscious of the threats that quantum computers potentially pose to conventional encryption. This includes quantum key distribution (QKD) software and post-quantum cryptographic algorithms that can seamlessly integrate with existing IT infrastructures. The flexibility and adaptability of software solutions make them appealing, as they can be updated with advancements in quantum-safe algorithms, offering long-term data protection for sensitive information across various industries.
The Government & Defense segment would register a CAGR of 31.1% during (2024 - 2031). Government agencies and defense organizations handle highly sensitive information, from intelligence data to military communications, which are prime targets for quantum-level cyber threats. The confidentiality and integrity of these data are protected from unwanted access by the strong encryption offered by quantum-resistant cryptography. The high national security stakes and the need to prevent espionage and cyber threats motivate significant investment in quantum-safe solutions within this sector.
Full Report: https://www.kbvresearch.com/quantum-resistant-cryptography-solutions-market/
The North America region dominated the Global Quantum-resistant Cryptography Solutions Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.5 billion by 2031. The Europe region is experiencing a CAGR of 30.9% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 32.1% during (2024 - 2031).
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