Quantum Cryptography Market Size, Revenue, Scope, Trends, Competition and Forecast 2034
Quantum Cryptography Market Growth, Size, Trends Analysis - By Type, By End Use, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Mar-2025 | Report ID: IACT2533 | Pages: 1 - 235 | Formats*: |
| Category : Information & Communications Technology | |||
Quantum Cryptography Market Introduction and Overview
According to SPER Market Research, the Global Quantum Cryptography Market is estimated to reach USD 18732.59 million by 2034 with a CAGR of 38.56%.
The report includes an in-depth analysis of the Global Quantum Cryptography Market, including market size and trends, product mix, Applications, and supplier analysis. The growing frequency of cyber-attacks and the emergence of quantum computing are driving the demand for quantum cryptography, a technology that leverages quantum mechanics to secure communication channels. The rise in cyber threats, increased cybersecurity funding, and the need for advanced security solutions due to the expansion of cloud computing and IoT are fueling market growth. However, challenges such as limited expertise and high deployment costs, which require specialized infrastructure, hinder market expansion. Additionally, quantum cryptography operates over short distances, necessitating repeaters and channels for longer ranges, further raising costs. Despite these challenges, the rising awareness of cybersecurity among industries and users presents significant growth opportunities for the global quantum cryptography market.
By Type: In 2024, the software segment led the market with a 43.9% revenue share, driven by the demand for specialized quantum cryptographic software that enhances security through advanced quantum algorithms. Software vendors are focusing on scalable and interoperable solutions. For example, Apple’s February 2024 iMessage update with PQ3 protocol strengthened security. Meanwhile, the services segment is expected to grow rapidly, offering support in deploying quantum key distribution (QKD) systems and providing training for professionals in quantum security practices.
By End Use: The healthcare sector dominated the market in 2024, driven by the ability of quantum cryptography to protect sensitive medical data from cyber threats and unauthorized access. By securing medical imaging data, such as MRI scans and X-rays, quantum encryption ensures the integrity of diagnostic information and prevents breaches. The government and defense sector is anticipated to experience the fastest growth due to the critical need to safeguard classified data and communications. Quantum cryptography offers robust protection against cyber threats, espionage, and unauthorized access, making it essential for securing national security-related information, strategic plans, and critical infrastructure.
By Application: In 2024, the network security segment led the market, driven by quantum key distribution (QKD) for secure encryption key exchanges. Quantum cryptographic solutions offer robust key management and prevent interception, ensuring secure communication channels for network security. These solutions integrate easily with existing infrastructure like firewalls and intrusion detection systems, allowing organizations to enhance cybersecurity by combining quantum cryptography with traditional security measures for comprehensive protection and improved overall security.
By Regional Insights: In 2024, North America led the quantum cryptography market, holding the largest revenue share. The regions growing and complex cyber challenges have driven both government and private sectors to seek advanced solutions for protecting sensitive data. This heightened awareness has accelerated the adoption of quantum cryptographic technologies, as organizations acknowledge the need for quantum-resistant encryption to defend against emerging cyber threats.
Market Competitive Landscape:
The market is moderately consolidated. Some of the market key players are Agnostiq, Inc., Crypta Labs, IBM, ID Quantique, Infineon Technologies AG, MagiQ Technologies, Inc., NEC Corporation, QNu Labs, Qrypt, QuantumCTek Co., Ltd., QuintessenceLabs Pty. Ltd., Toshiba Corporation, and others.
Recent Developments:
- The open-source Covalent Cloud retail version was introduced by Agnostiq in May 2023. High-performance computing and quantum computing resources for simulation, machine learning, optimization, and quantum computing are available on the highly abstracted, controlled, and on-demand Covalent Cloud platform. Without being hardware experts, the platform enables academics and computational engineers to easily access sophisticated computer resources using Python.
- Qrypt and Megaport, a supplier of Network as a Service (NaaS) solutions, introduced a secure data transfer technology in January 2023 that uses quantum-secure cryptography driven by Qrypts quantum key generation technology. In order to protect data from being harvested now and decrypted later by quantum computers, this technology does away with the need for key exchange and independently produces encryption keys in real-time. All of the major cloud providers in the world, such as AWS, Azure, and Google Cloud, offer the technology.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Type, By End Use, By Application. |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa. |
| Companies Covered | Agnostiq, Inc., Crypta Labs, IBM, ID Quantique, Infineon Technologies AG, MagiQ Technologies, Inc., NEC Corporation, QNu Labs, Qrypt, QuantumCTek Co., Ltd., QuintessenceLabs Pty. Ltd., Toshiba Corporation, and others. |
Key Topics Covered in the Report:
- Global Quantum Cryptography Market Size (FY’2021-FY’2034)
- Overview of Global Quantum Cryptography Market
- Segmentation of Global Quantum Cryptography Market By Type (Hardware, Software, Services)
- Segmentation of Global Quantum Cryptography Market By End Use, (BFSI, IT & Telecommunication, Government & Defense, Healthcare, Retail & E-commerce, Others (Smart Infrastructure, Energy & Utilities, etc.)}
- Segmentation of Global Quantum Cryptography Market By Application (Cloud Security, Database Security, Network Security, Application Security)
- Statistical Snap of Global Quantum Cryptography Market
- Expansion Analysis of Global Quantum Cryptography Market
- Problems and Obstacles in Global Quantum Cryptography Market
- Competitive Landscape in the Global Quantum Cryptography Market
- Details on Current Investment in Global Quantum Cryptography Market
- Competitive Analysis of Global Quantum Cryptography Market
- Prominent Players in the Global Quantum Cryptography Market
- SWOT Analysis of Global Quantum Cryptography Market
- Global Quantum Cryptography Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPERs internal database2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Quantum Cryptography Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Quantum Cryptography Market
7. Global Quantum Cryptography Market, By Type, (USD Million) 2021-2034
7.1. Hardware7.2. Software7.3. Services
8. Global Quantum Cryptography Market, By End Use, (USD Million) 2021-2034
8.1. BFSI8.2. IT & Telecommunication8.3. Government & Defense8.4. Healthcare8.5. Retail & E-commerce8.6. Others (Smart Infrastructure, Energy & Utilities, etc.)
9. Global Quantum Cryptography Market, By Application, (USD Million) 2021-2034
9.1. Cloud Security9.2. Database Security9.3. Network Security9.4. Application Security
10. Global Quantum Cryptography Market, (USD Million) 2021-2034
10.1. Global Quantum Cryptography Market Size and Market Share
11. Global Quantum Cryptography Market, By Region, (USD Million) 2021-2034
11.1. Asia-Pacific
11.1.1. Australia11.1.2. China11.1.3. India11.1.4. Japan11.1.5. South Korea11.1.6. Rest of Asia-Pacific
11.2. Europe
11.2.1. France11.2.2. Germany11.2.3. Italy11.2.4. Spain11.2.5. United Kingdom11.2.6. Rest of Europe
11.3. Middle East and Africa
11.3.1. Kingdom of Saudi Arabia11.3.2. United Arab Emirates11.3.3. Qatar11.3.4. South Africa11.3.5. Egypt11.3.6. Morocco11.3.7. Nigeria11.3.8. Rest of Middle-East and Africa
11.4. North America
11.4.1. Canada11.4.2. Mexico11.4.3. United States
11.5. Latin America
11.5.1. Argentina11.5.2. Brazil11.5.3. Rest of Latin America
12. Company Profile
12.1. Agnostiq, Inc.
12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments
12.2. Crypta Labs
12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments
12.3. IBM
12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments
12.4. ID Quantique
12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments
12.5. Infineon Technologies AG
12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments
12.6. MagiQ Technologies, Inc.
12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments
12.7. NEC Corporation
12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments
12.8. QNu Labs
12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments
12.9. Qrypt
12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments
12.10. QuantumCTek Co., Ltd.
12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments
12.11. QuintessenceLabs Pty. Ltd.
12.11.1. Company details12.11.2. Financial outlook12.11.3. Product summary12.11.4. Recent developments
12.12. Toshiba Corporation
12.12.1. Company details12.12.2. Financial outlook12.12.3. Product summary12.12.4. Recent developments
12.13. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Quantum Cryptography Market is projected to reach USD 18732.59 million by 2034, growing at a CAGR of 38.56% during the forecast period.
Quantum Cryptography Market grew in Market size from 2025. The Market is expected to reach USD 18732.59 million by 2034, at a CAGR of 38.56% during the forecast period.
Quantum Cryptography Market CAGR of 38.56% during the forecast period.
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Quantum Cryptography Market size is USD 18732.59 million from 2025 to 2034.
Quantum Cryptography Market is covered By Type, By End Use, By Application.
The North America is anticipated to have the highest Market share in the Quantum Cryptography Market.
"The key players in the Market include Companies Covered Agnostiq, Inc., Crypta Labs, IBM, ID Quantique, Infineon Technologies AG, MagiQ Technologies, Inc., NEC Corporation, QNu Labs, Qrypt, QuantumCTek Co., Ltd., QuintessenceLabs Pty. Ltd., Toshiba Corporation, and others.
"
The rise in cyber threats, increased cybersecurity funding, and the need for advanced security solutions due to the expansion of cloud computing and IoT are fueling market growth. However, challenges such as limited expertise and high deployment costs, which require specialized infrastructure, hinder market expansion.
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