Post-Quantum Cryptography 2023: Market Opportunities After NIST

Report: IQT-PQC2023-0723
Published July 25, 2023

This is the latest IQT Research report on business opportunities in post-quantum cryptography (PQC). The day when commonly used encryption schemes will be breakable by quantum computers is drawing closer. It may be just three-to-five years away if some of the vendor roadmaps are to be believed. IQT also believes that NIST’s pronouncements on standards in 2022 provide stability to the PQC market. In addition to NIST activity this report analyzes the activities of several other standards organizations and industry groups whose work will be crucial role to the implementation and roll-out of PQC.

Based on the current PQC business environment this report provides ten-year forecasts of PQC software, hardware (chips and HSMs) and services. These forecasts are broken out by key applications sectors such as financial services, cryptocurrencies, automotive, healthcare, 5G/6G, IoT, tape drives, and disaster recovery, as well as police, military and intelligence applications. It also examines the motivation for companies and other organizations to adopt PQC. The forecasts are supplied to purchasers of the report in a separate Excel sheet.

The report contains strategic profiles of more than 30 active commercial participants of the PQC market. forecasting revenues from PQC-related activities and assessing the product/market strategies of important companies and other organizations in the PQC space.

Provisional Table of Contents
Report Introduction and Summary
E.1 When will the quantum apocalypse arrive?
E.1.1 The Z Date and Y2Q
E.1.2 Hack now, decrypt later
E.2 Post-quantum cryptography after the 2022 NIST pronouncements
E.3 The future of PQC markets and supply chains
E.4 Objective, scope and methodology of this report
E.5 Plan of this report
Chapter One: PQC: Emerging Standards and Regulation
1.1 PQC role in the future of quantum cybersecurity
1.2 NIST’s 2022 announcements and their implications
1.2.1 Key agreements and digital signatures
1.2.3 CRYSTALs-Dilthium
1.2.4 Falcon
1.2.6 Fourth round: BIKE, Classic McEliece, HQC and SIKE
1.3 Roadmap for future work to be done by NIST
1.4 Other standards efforts
1.4.1 Institute of Electrical and Electronics Engineers (IEEE)
1.4.2 ANSI Accredited Standards Committee X9
1.5 Policy and regulatory considerations in the US
1.5.1 2022 US National Security Memorandum on “Vulnerable Cryptographic Systems”
1.5.2 Quantum Computing Cybersecurity Preparedness Act
1.5.3 PQC and the Biden National Cybersecurity Strategy for US
1.5.4 PQC and the National Security Agency
1.5.5 U.S. Department of Homeland Security (DHS)
1.6 International Activity
1.6.1 International Telecommunications Union (ITU)
1.6.2 Internet Engineering Task Force (IETF)
1.6.3 Cloud Security Alliance
1.6.4 European Telecommunications Standards Institute (ETSI)
1.6.5 Open Quantum Safe
1.7 Key points from this Chapter
Chapter Two: PQC: Products and Services
2.1 PQC software
2.2 PQC chips
2.3 PQC and hardware security modules (HSMs)
2.4 Service offerings: PQC as a service
2.5 Key points from this Chapter
Chapter Three: Markets for PQC Products and Service
3.1 Notes on market forecast methodology
3.2 Financial services
3.2.1 Financial records management
3.2.2 Credit cards and PQC
3.2.3 Cryptocurrencies and Blockchain
3.3 Automotive
3.4 Healthcare: Healthcare records
3.5 Telecom: 5G/6G, IoT and PQC
3.6 IT Applications
3.6.1 Magnetic tape drives
3.6.2 Remote disaster recovery
3.7 Military, police and intelligence applications
3.8 Manufacturing Industries
3.9 Key Takeaways from this Chapter
Chapter Four: Post-Quantum Encryption Companies—Products, Strategy, and Competitive Analysis
4.1 Amazon Web Services (AWS)
4.2 Cisco Systems
4.3 Cloudfare
4.4 01 Communique
4.5 Cryptosense
4.6 Crypto4A Technologies
4.7 CryptoNext Security
4.8 Crypto Quantique
4.9 Envieta Systems
4.10 evolutionQ
4.11 Google
4.12 IBM Research
4.13 Infineon
4.14 InfoSec Global
4.15 ISARA
4.16 KETS
4.17 Microsoft
4.18 Post-Quantum
4.19 PQSecure
4.20 PQShield
4.21 Qualcomm
4.22 Qasky
4.23 Quantropi
4.24 Quantum Blockchain
4.25 Rambus
4.26 Thales
4.27 Utimaco (Germany)
4.28 Quantum Dice
4.29 Samsung SDS
4.30 Sandbox AQ
4.31 Starkware
4.32 VMware

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