Industry Forecast: Quantum Random Number Generator (QRNG) Market to Generate $2.51 Billion Revenue by 2029
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What Are the Latest Market Insights for the Quantum Random Number Generator (QRNG) Industry?
The market size of the quantum random number generator (qrng) has experienced substantial growth in the past few years. The market, which is set to grow from $0.24 billion in 2024 to $0.39 billion in 2025, boasts a compound annual growth rate (CAGR) of 59.4%. Factors that have contributed to this growth in the past include a rising demand for secure encryption in defense and financial sectors, increased emphasis on data privacy, more widespread use in government and research institutions, an injection of funds into quantum computing startups, and a mounting need for security solutions.
The market for quantum random number generators (QRNG) is anticipated to undergo significant expansion in the coming years, with projections suggesting an increase to $2.51 billion in 2029, driven by a compound annual growth rate (CAGR) of 59.4%. This projected growth during the forecast period can be traced back to several factors, including the rising demand for sturdy random number generation in line with the escalating usage of cloud services, an increased necessity for genuine randomness in AI training and simulation processes, the broadening of digital conversion across various sectors, growing regulatory emphasis on the adoption of advanced cryptographic norms, and heightened cyber threats. Noteworthy trends forecasted during this period encompass the development of photonic-based QRNG processes, incorporation of QRNGs into hardware security modules, the budding collaboration between quantum startups and semiconductor firms, and the advent of combined random number generation systems.
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What Forces Are Driving The Growth Of The Quantum Random Number Generator (QRNG) Industry?
The escalating occurrence of cyberattacks is expected to drive the expansion of the quantum random number generator (QRNG) market in the future. Cyberattacks are conscious efforts put in by individuals or groups to invade the information systems of people, corporations, or governments. Because of the increased dependency on digital systems, cyberattacks are on the rise, presenting more opportunities for hackers to exploit. QRNGs come in as a defensive mechanism against these cyberattacks by generating truly unknowable encryption keys, thus making it exceedingly difficult for hackers to breach secure systems. For example, in 2023, the American population reported a record 880,418 cybercrime allegations to the IC3, the US-based principal center for reporting cybercrime. The forecasted financial losses exceeded $12.5 billion – a 22% increase in reported losses and roughly a 10% surge in complaints from 2022. As such, the increased occurrences of cyberattacks act as a driving force for the quantum random number generator (QRNG) market.
What Is The Overview Of Market Segmentation In The Quantum Random Number Generator (QRNG) Industry?
The quantum random number generator (qrng)market covered in this report is segmented –
1) By Type: Peripheral Component Interconnect Express (PCIe) Type, Universal Serial Bus (USB) Type
2) By Deployment: Cloud Based, On-Premises
3) By Application: Banking, Financial Services And Insurance, Telecommunications, Datacenters, Gaming And Lotteries, Research Institutions, Other Applications
Subsegments:
1) By Peripheral Component Interconnect Express (PCIe) Type: Low Bandwidth Pcie QRNG, Industrial-Grade Pcie QRNG, High Bandwidth Pcie QRNG, Embedded Pcie QRNG For Data Centers
2) By Universal Serial Bus (USB) Type: Portable USB QRNG, Secure USB QRNG For Cryptographic Applications, High-Speed USB QRNG, Consumer-Grade USB QRNG
What Are The Leading Trends And Opportunities In The Quantum Random Number Generator (QRNG) Sector?
Leading firms in the Quantum Random Number Generator (QRNG) market are prioritizing the development of technological innovations such as post-processed random number generators. This initiative is aimed at improving the quality of randomness, guaranteeing cryptographic security, and promoting compatibility with current digital systems. Post-processed random number generators use algorithms on raw quantum data to remove bias and optimize randomness, thus ensuring premium output for secure applications. For example, in October 2023, Quantum Dice Ltd., a quantum technology firm based in the UK, introduced an advanced version of its APEX QRNG. This technology offers high-quality entropy for robust encryption in business operations and unparalleled performance and security. Its patented DISC protocol facilitates reliable cybersecurity, making it a perfect fit for data centres and telecommunications hubs.
Who Are The Primary Players Operating Across The Global Quantum Random Number Generator (QRNG) Market?
Major companies operating in the quantum random number generator (QRNG) market are Thales Group, SK Telecom Co. Ltd., Palo Alto Networks Inc., Toshiba Digital Solutions Corporation, Quantinuum Ltd., ID Quantique SA, Terra Quantum AG, MicroCloud Hologram Inc, QuintessenceLabs Pty Ltd, Quside Technologies S.L., Qrypt Inc., QNu Labs Pvt Ltd, KETS Quantum Security Ltd, Quantropi Inc., Quantum Dice Ltd, Qutools GmbH, Crypta Labs Ltd, Quantum Computing Inc. , Quantum eMotion Corp. , QuantumCTek Co.Ltd.
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Which Region Offers The Most Growth Potential For The Quantum Random Number Generator (QRNG) Market Through 2029?
North America was the largest region in the quantum random number generator market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the quantum random number generator (QRNG) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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