Post-Quantum Cryptography Market to Exceed $13 Billion by 2035

A new study by Juniper Research has found that the post-quantum cryptography market will grow from $1.2 billion in 2026 to $13 billion in 2035, representing a high CAGR of 30%. The research identifies two primary forces driving this growth: the rapid evolution of standards and regulations designed to prepare for ‘Q-Day’, and sustained R&D investment that is accelerating algorithm maturity through rigorous, real-world testing.

‘Q-Day’ - the point at which quantum computers can compromise today’s encryption - is firmly on the radar of governments and forward-thinking organisations. However, awareness remains the biggest obstacle. “Many businesses still underestimate the risk of quantum-enabled attacks; making clearer, more accessible education critical to securing internal buy-in,” explained Louis Atkin, Research Analyst at Juniper Research.

The research identified that global collaboration between organisations will be critical for the technology to be adopted effectively. Cryptography is a technological domain that is heavily reliant on interoperability across infrastructure, with many systems required to operate across borders.

“Many countries have accepted NIST’s standardised algorithms as the de facto quantum-safe option, even in nations with limited understanding of the quantum landscape. It is vital this continues and that different sectors consider how their systems interoperate when implementing quantum-safe solutions,” Atkin concluded.