Quantum Cryptography Market to Reach $10.2B 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.

A Market Fueled by the “Harvest Now, Decrypt Later” Threat

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 Leads the Market’s Growth

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.

Services Segment Expands as Enterprises Seek Expertise

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.

Strategic Importance: National Security & Enterprise Resilience

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.

The Road Ahead

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.