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PQC market is gaining traction in wake of NIST standards advance

The US National Institute of Standards and Technology (NIST) announced several candidate Post-Quantum Cryptographic (PQC) algorithms for standardization this summer, and it is nearing the end of a 5-year process. As the final rounds reach their conclusion, global technology intelligence firm ABI Research expects the fledgling PQC market to shift into high gear over the next 5 years as vendors start to fast-track product development plans for commercialization. Global revenues for PQC are expected to grow 12% from 2022 to 2023 and 20% between 2026-2027.