Quantum Cryptography Market to Reach $10.2B by 2031 - varindia.com
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What factors are driving the growth of the quantum cryptography market to reach $10.2 billion by 2031? How are advancements in quantum technology contributing to the expansion of the quantum cryptography market? What are the key challenges and opportunities facing the quantum cryptography market as it aims to achieve significant growth by 2031? The global quantum cryptography market is projected to surge from USD 1.6 billion in 2025 to USD 10.2 billion by 2031, according to a new MarketsandMarkets™ report, reflecting an impressive CAGR of 35.7%. This rapid expansion underscores an urgent global shift toward quantum-safe security, as enterprises and governments brace for the risks posed by emerging quantum computers capable of breaking today’s encryption. One of the strongest drivers behind this growth is the increasing concern around HNDL (Harvest Now, Decrypt Later)attacks. Cyber adversaries—state-sponsored and criminal—are already stealing encrypted data today, anticipating the ability to decrypt it once scalable quantum computers become available. This risk is pushing organisations to accelerate investments in Quantum Key Distribution (QKD) and Quantum Random Number Generators (QRNG). QKD remains the flagship solution, enabling secure key exchange using quantum properties that make eavesdropping detectable. As critical infrastructure—including defense, telecom, and BFSI—moves to future-proof communications, QKD demand is expected to dominate deployments. QRNGs are also gaining momentum, as traditional pseudo-random generators fail to meet the entropy requirements of next-generation cryptography. The report highlights strong growth in deployment, integration, and crypto consulting services, driven by the complexity of integrating quantum technologies into legacy architectures. Organisations are now prioritising quantum readiness assessments, cryptographic inventorying, key management upgrades, and migration roadmaps. Governments worldwide—from the US and EU to India, Japan, and South Korea—are launching national quantum missions, driving public-sector investment. Telecom operators are deploying QKD for secure backbone networks, while BFSI players are exploring quantum-safe encryption for high-value transactions. With quantum computing advancing faster than expected, the shift to quantum-resilient cybersecurity is becoming a global imperative. Enterprises that delay transition face the risk of long-term data exposure. The forecast signals a defining decade ahead—one where quantum cryptography shifts from experimental to essential infrastructure. Reproduction in whole or in part in any form or medium without express written permission of Kalinga Digital Media Pvt. Ltd. is prohibited. Copyright varindia.com @1999-2025 - All rights reserved.