Quantum Cryptography Market worth $10.2 billion by 2031 | MarketsandMarkets™

DELRAY BEACH, Fla., Dec. 3, 2025 /PRNewswire/ -- According to MarketsandMarkets™, the global Quantum Cryptography Market is projected to grow from USD 1.6 billion in 2025 to USD 10.2 billion by 2031 at a Compound Annual Growth Rate (CAGR) of 35.7% during the forecast period.

Browse 520 market data Tables and 70 Figures spread through 420 Pages and in-depth TOC on "Quantum Cryptography Market - Global Forecast to 2031"

Quantum Cryptography Market Size & Forecast:

• Market Size Available for Years: 2019–2031
• 2025 Market Size: USD 1.6 billion
• 2031 Projected Market Size: USD 10.2 billion
• CAGR (2025–2031): 35.7%

Quantum Cryptography Market Trends & Insights:

• Growing quantum-enabled cyber risks necessitate organizations to adopt quantum-safe communication technologies like Quantum Key Distribution (QKD) to protect high-value, long-lifespan data across critical sectors (energy, telecom, defense, banking) against the threat of quantum computers.
• By vertical, healthcare is expected to register the highest CAGR of 41.8%.
• The SMEs segment is expected to grow at the 37.6% rate in the Quantum Cryptography Market during the forecast period.
• By deployment mode, the on-premises segment is expected to dominate the market, growing at the highest CAGR of 40.9%.
• By organization size, the SMEs segment will grow the fastest during the forecast period.
• The North American quantum cryptography market accounted for a 58% share in 2025.

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The growing availability of quantum-safe standards from NIST, ETSI, and ISO is providing organizations with clearer direction for implementing PQC and QKD, prompting a more structured adoption. At the same time, rising concerns over "harvest-now, decrypt-later" threats are pushing enterprises to secure long-retention data with quantum-resilient methods. Together, these factors are strengthening demand for quantum-secure communication solutions.

By vertical, the BFSI segment is expected to account for the largest market share during the forecast period.

The BFSI sector is the largest market for quantum cryptography because financial institutions handle sensitive data that must stay confidential for decades, making them very vulnerable to future quantum decryption threats. Banks and payment networks rely on continuous data exchange across branches, trading floors, clearinghouses, and global data centers, resulting in a high demand for quantum-secure channels. Many institutions are exploring QKD to secure inter-data-center backbone routes, ATM networks, and high-frequency trading links, while also incorporating PQC algorithms into authentication processes and transaction signing. Since 2023, several major financial groups in Asia, Europe, and North America have started pilots using QKD for secure settlement traffic and PQC-based key rotation for core banking APIs. Compliance requirements from financial regulators are also prompting institutions to prepare for quantum-safe migration, making BFSI the most proactive industry in driving the adoption of quantum cryptography.

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Based on transmission type, the fiber-optic segment is expected to exhibit the highest growth rate during the forecast period.

Fiber-optic cable is the fastest-growing transmission type in the Quantum Cryptography Market because it offers stable, low-loss channels necessary for transmitting quantum signals over long distances. Its compatibility with existing telecom and enterprise backbone infrastructure enables organizations to incorporate quantum-secure communication without requiring network rebuilds. Fiber systems support high bandwidth, minimal interference, and precise photon transmission, making them ideal for quantum-safe key exchange and long-term data protection. As financial institutions, cloud providers, and government networks increase their demand for secure inter-facility communication, fiber-based quantum links are becoming the preferred choice. The widespread availability of fiber routes across metropolitan and cross-country corridors further accelerates its adoption as the primary foundation for scalable quantum cryptography deployment.

By region, North America is expected to account for the largest market share.

The North American Quantum Cryptography Market is strengthening as enterprises and public agencies focus on protecting long-term data, securing multi-cloud environments, and modernizing identity frameworks with quantum-safe algorithms. In the US, cloud providers, telecom carriers, and financial institutions are integrating PQC and quantum-resilient key management into their core infrastructure to prepare for future decryption risks. Canada is also accelerating activity through significant national investment. In January 2025, the Canadian government allocated approximately USD 51 million to support over 100 quantum research projects, including work on secure communications and next-generation cryptographic tools. Earlier, in March 2023, Canada invested roughly USD 1 million to strengthen commercial development across the quantum security ecosystem. The country's National Quantum Strategy, launched in 2023, further outlines a roadmap for quantum communication and post-quantum cryptography capabilities. Together, these initiatives, combined with active participation from telecom, cloud, aerospace, and scientific institutions, are building a strong foundation for quantum-secure communication across North America.

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Top Companies in Quantum Cryptography Market:

The Top Companies in Quantum Cryptography Market are Toshiba (Japan), Thales (France), DigiCert (US), NXP Semiconductors (Netherlands), ID Quantique (Switzerland), QuintessenceLabs (Australia), QuantumCTek (China), MagiQ Technologies (US), Crypta Labs (UK), Qasky (China), Qubitekk (US), Eviden (France), NuCrypt (US), Quantum Xchange (US), Infineon Technologies (Germany), Rambus (US), qutools (Germany), QNu Labs (India), Post-Quantum (UK), IBM (US), HPE (US), Crypto Quantique (UK), Qrypt (US), KETS Quantum Security (UK), PQShield (UK), Qubalt (Germany), VeriQloud (France), SSH Communications Security (Finland), HEQA Security (Israel), QuSecure (US), ISARA (Canada), Origin Quantum (China), Quantinuum (US), Kudelski Security (Switzerland), Fortanix (US), Q*Bird (Netherlands), and Quside (Spain).

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