TIM Program Logo

TIMG 5303: Assignment 3

Project Overview

Analysis of the Post-Quantum Cryptography (PQC) market landscape for TIMG5303B: ML for Tech Entrepreneurship (Winter 2025).

Group 2 Members

TT
Temuulen Turbat
LL
Lizhao Luo
MW
Mike Wang
CA
Christabel Awuah-Gyasi
BO
Babatunde Oladoja
YL
Ye Liu
JH
Joe (Beiqiao) Hu

Market Growth Potential

$18B

Projected by 2034

Key sectors: Finance, Government, Telecom

Our Research Process

Our research methodology leveraged advanced AI tools combined with human oversight to extract, organize, and synthesize insights from a corpus of 73 academic papers on quantum-safe cryptography.

Literature Review and Content Mining

Gemini 2.5 Pro Exp analyzed 73 academic papers to extract key information, methodologies, findings, and citations.

Comprehensive knowledge base created
1
LLM Action: Extraction of key information through automated content analysis
Human Oversight: Reviewing for relevance and providing additional context

Thematic Organization

Gemini identified recurring themes, patterns, and relationships across papers, creating coherent sections.

Structured hierarchy of topics
2
LLM Action: Pattern recognition and thematic categorization
Human Oversight: Evaluating and adjusting thematic structure

Draft Generation

Perplexity Deep Research synthesized information into a coherent draft report with academic rigor.

Initial comprehensive report
3
LLM Action: Synthesis into accessible academic report
Human Oversight: Reviewing for accuracy and logical flow

Data Visualization Preparation

Gemini identified key data points and created structured formats (JSON, CSV) for visualization.

Visualization-ready data structures
4
LLM Action: Data extraction and structured formatting
Human Oversight: Reviewing data selection and formats

Cross-Reference and Citation Validation

Citations were verified for accuracy, proper formatting, and appropriate support of claims.

Verified scholarly references
5
LLM Action: Citation correction and refinement
Human Oversight: Verifying citation accuracy and completeness

Narrative Cohesion and Flow Enhancement

Overall narrative flow was evaluated and enhanced for better transitions and explanations.

Refined narrative structure
6
LLM Action: Enhancing readability and logical progression
Human Oversight: Evaluating flow and identifying areas for improvement

Report Visualization and Deployment

The finalized report was transformed into an interactive visual format and deployed on Cloudflare.

Accessible, engaging presentation
7
Final Delivery: Interactive visual format using File Visualizer and Cloudflare deployment

AI Research Tools Utilized

Gemini Logo

Gemini 2.5 Pro Exp

Content mining & organization

Perplexity Logo

Perplexity Deep Research

Draft synthesis & refinement

Cloudflare Logo

Cloudflare

Deployment & hosting

Quantum-Safe Cybersecurity Solutions

Market Landscape, Adoption Readiness, and Strategic Value (2025)

$18B
Market by 2034
36.8%
CAGR
5+
Key Industries

This research examines the rapidly growing quantum-safe cryptography market, analyzing solutions addressing quantum threats to conventional cryptographic methods. Financial services, government, and telecommunications lead adoption, with implementation challenges around standardization and integration.

Organizations Driving Quantum-Safe Solution Adoption

The quantum threat to current cryptographic standards has mobilized a diverse coalition of organizations actively pursuing quantum-safe solutions.

Adoption Readiness by Sector

Based on analysis from reports [3][6][7]. Relative readiness indicated by bar height.
High Priority

Government & Defense

Very High

Leading standardization efforts via NIST with focus on protecting classified information & critical infrastructure.

Primary concerns: National security, data protection
High Priority

Financial Services

Very High

Primary driver due to sensitive transactions and strict regulatory requirements for data security.

Primary concerns: Transaction security, customer data
High Priority

Telecom & IT

High

Actively exploring quantum-safe tech for network protection and customer data security across global infrastructure.

Primary concerns: Network security, communications
High Priority

Security Vendors

Very High

Ecosystem of established and specialized startups commercializing quantum-safe technologies and driving innovation.

Key players: ID Quantique, ISARA, Post-Quantum
Medium Priority

Healthcare

Medium

Emerging stakeholder due to strict patient data privacy regulations and vulnerability to "Harvest Now, Decrypt Later" attacks.

Primary concerns: Patient privacy, record retention
Medium Priority

Critical Infrastructure

Medium

Focused on protecting essential systems in energy, transportation, and utilities from long-term quantum threats.

Primary concerns: Control systems, public safety

Types of Quantum-Safe Solutions Currently Offered

The market features distinct solution categories addressing the quantum threat.

Post-Quantum Cryptography (PQC)

Classical algorithms designed to resist both quantum and classical attacks, with several mathematical approaches:

Lattice-Based

Efficient and secure, based on mathematical lattice problems. NIST's top selection.

NIST Selection

Code-Based

Uses error-correcting codes with well-understood security properties.

Alternative Candidate

Hash-Based

Uses hash functions for quantum-resistant signatures with proven security.

NIST Selection

Multivariate

Based on solving complex multivariate polynomial equations.

Research Focus

Isogeny-Based

Newer approach using elliptic curve relationships, evolving research.

Emerging Research

Symmetric Key

AES-like algorithms requiring larger keys for quantum resistance.

Currently Deployed
PQC approaches categorized according to NIST evaluations and research literature [4][5][7]

Key Unique Benefits of Quantum-Safe Solutions

Quantum-safe solutions offer distinct advantages beyond protection against future attacks, providing immediate security enhancements and strategic value.

Long-Term Data Security

Protects against "Harvest Now, Decrypt Later" threats for data with long confidentiality needs (health records, IP, classified info)[1][5].

Evolving Threat Protection

Often enhances security against classical attacks and potential future classical vulnerabilities due to different algorithmic properties[4].

Compliance Readiness

Positions organizations advantageously for future regulations mandating quantum-safe standards (e.g., from NIST)[1][4][7].

Enhanced Cryptographic Agility

Implementation often requires building systems capable of rapid algorithm replacement, beneficial for any future vulnerability[4].

Competitive Differentiation

Allows security vendors and service providers to showcase forward-thinking approaches, attracting security-conscious customers[7].

Technical Improvements

Some solutions like QRNGs offer superior randomness[7]. Certain PQC algorithms may offer performance benefits in specific scenarios.

Challenges Restricting Adoption of Quantum-Safe Solutions

Despite compelling benefits, significant technical, operational, and strategic challenges hinder widespread adoption.

Key Adoption Challenges

Challenge assessments based on industry reports and expert analysis [3][4][5]

Integration Complexity

Difficult integration with existing cryptographic infrastructures and legacy systems requires complex migration planning.

Impact:

Standards Uncertainty

Ongoing standardization (e.g., by NIST) creates risk for early implementations if chosen algorithms change or become deprecated.

Impact:

Performance & Resources

Many PQC algorithms require more computational resources (larger keys, higher complexity), potentially causing bottlenecks.

Impact:

Skills Gap

A shortage of personnel skilled in both quantum science and practical cybersecurity implementation limits organizational capacity.

Impact:

Threat Timeline

Difficulty predicting when quantum computers will break current crypto complicates investment decisions and prioritization.

Impact:

Cost & ROI

Significant implementation costs (tech, integration, training) are hard to justify when the threat is future-oriented.

Impact:

Typology of Quantum-Safe Offers and Monetization Models

The market features diverse commercial offerings with distinct value propositions and monetization strategies.

Market Growth Trajectory

2024 Market $1.16B
2030 Projection $7.59B
2034 PQC Market $17.69B
Annual Growth 36.8%
Market projections based on data from [3][6][7]

Consulting & Managed Services

Quantum Risk Assessment

Evaluation of cryptographic vulnerabilities, data security policies, and quantum threat exposure.

Monetization: Fixed fee + discovery workshops

PQC Implementation

Technical integration, migration planning, pilot programs, and progressive rollout services.

Monetization: Time & materials + milestone billing

Quantum-Safe Managed Security

Ongoing monitoring, algorithm updates, cryptographic agility maintenance, and vulnerability management.

Monetization: Recurring subscription + tiered pricing

Hardware Security Products

PQC Chips & Processors

Hardware security modules with built-in quantum-resistant algorithms

Monetization: Direct sales, OEM partnerships

Quantum Random Number Generators

True randomness from quantum processes for secure key generation

Monetization: Premium hardware + support contracts

Embedded Quantum-Safe Systems

IoT and industrial control systems with PQC built-in

Monetization: Device sales, maintenance contracts

Software Security Products

PQC Encryption Libraries

Software development kits with quantum-resistant cryptography

Monetization: Open-source core + enterprise support

Key Management Solutions

Lifecycle management for quantum-safe cryptographic keys

Monetization: SaaS subscription, volume-based pricing

Quantum-Safe Network Security

VPNs, secure gateways, and TLS implementations with PQC

Monetization: User-based licensing, upgrade paths

Target Customers for Quantum-Safe Market Offers

The quantum-safe solutions market serves diverse customer segments with varying needs, priorities, and adoption timelines.

Customer Prioritization Matrix

High Priority Primary Target Segments

Financial Institutions

Banks, payment providers, and financial services with strict data security requirements and regulatory compliance needs.

Key concerns: Transaction security, sensitive customer data, regulatory compliance
Government & Defense

Federal agencies, defense departments, and classified information systems requiring long-term data security.

Key concerns: National security, long-term classified information, critical infrastructure

Medium Priority Secondary Target Segments

Telecommunications

Network providers, ISPs, and communication platforms handling sensitive data transmission.

Key concerns: Network security, communication privacy, infrastructure protection
Healthcare Organizations

Hospitals, insurance providers, and medical research facilities with long-term patient data retention requirements.

Key concerns: Patient privacy, medical records, regulatory compliance

Adoption Timeline by Industry

Based on industry research and expert analysis from sources [3][5][7]

Conclusion & Strategic Insights

The quantum-safe cybersecurity market is a critical, rapidly emerging sector addressing inevitable future vulnerabilities. Early growth is strong, driven by increasing awareness and evolving standards. Organizations face complex timing decisions, balancing the future threat against current implementation challenges. Success requires clear value propositions beyond basic quantum resistance, focusing on immediate benefits like compliance readiness and cryptographic agility. Adoption will vary by sector, led by government, finance, and telecom. Continued research is needed on performance impacts, regulatory timelines, and solution effectiveness. Proactive engagement with quantum-safe strategies offers protection and potential competitive advantages.

Strategic Implementation Path

1

Assessment Phase

Inventory cryptographic assets, vulnerabilities, and prioritize systems based on sensitivity and longevity requirements.

2

Strategy Development

Create migration roadmap, select PQC algorithms, and implement cryptographic agility capabilities.

3

Pilot Implementation

Test hybrid classical/PQC solutions in non-critical systems to validate integration and performance impacts.

4

Full Deployment

Progressive rollout starting with most sensitive systems, including ongoing monitoring and algorithm updates.

Key Takeaways

Market Maturity

Early growth phase, strong projections ($10-18B by 2030-2034), segmenting between PQC and quantum-enhanced solutions[3][6][7].

Strategic Timing

Urgent need for long-term data, but evolving standards suggest a phased approach. Strategy development is crucial now[4].

Value Proposition

Focus on immediate benefits (compliance, agility, differentiation) alongside future-proofing[4][7].

Adoption Factors

Accelerated by standards (NIST), hindered by complexity, cost, skills gap. Service providers are key enablers[1][3][4].

Sector Variation

Government, finance, telecom lead adoption; healthcare, critical infrastructure to follow[3][7].

Future Research Needs

Continued research is needed on performance impacts, regulatory timelines, solution maturity, and effectiveness against evolving threats.

Proactive engagement offers both protection and competitive advantage

Citations

  1. Semantic Scholar Paper (93c3...)
  2. The Quantum Insider (Companies List)
  3. MarketsandMarkets Report
  4. IBM Think (Quantum-Safe Cryptography)
  5. Canadian Centre for Cyber Security Guidance
  6. BIS Research (PQC Market Projection)
  7. The Quantum Insider (Market Interest Report)

Original Perplexity Research: View on Perplexity