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IQT Research Predicts QRNG Market will Reach $1.2 Billion by 2028 and Become the First “Mass Market” Quantum Device

By IQT News posted 14 Dec 2022

New York, NY:  Inside Quantum Technology Research expects the QRNG market to grow from $1.2 billion market in 2028, reaching $4.4 billion by 2032.  This is one of the findings of IQT Research’s new report “Quantum Random Number Generators: Market and Technology Assessment 2023-2032.” IQT Research also says that QRNGs will become the first “mass market” quantum device. Much of this market growth will derive from the need for enhanced security in the Internet-of-Things (IoT) and automotive market.

More details on this report can be found at https://www.insidequantumtechnology.com/product/quantum-random-number-generators-market-and-technology-assessment-2023-2032/. For a sample of this report, click on “Request Excerpt”.

About the Report:

This report identifies and quantifies the commercial potential for QRNGs going forward.  The scope of this report is QRNG systems, along with QRNG chips and QRNG-related services. Another major focus of this report is an assessment of how QRNGs, post-quantum cryptography (PQCs) and quantum key distribution (QKD) fit together into a future “quantum safe” strategy for organizations large and small.

IQT Research sourced its information from its interviews of key players in the quantum technology space. These include many of the competitors in the QRNG market. These interviews cover current and future products, development of technology, as well as future market direction and demand. Our research also relies on resources from company websites, technical literature, government data, etc.

The forecasting in this report takes into consideration various market scenarios, including pricing scenarios.  The QRNG market sectors covered by this report include QKD, gambling and gaming, IoT, mobile phone, automotive, financial services, aerospace and military, data centers and the emerging entropy services market.

The report concludes with a comprehensive set of profiles of QRNG products and services.  Companies covered include Alibabab, API3, Cryptalabs, DRDO, EYL, ID Quantique, KETS, Quantum Xchange, QNu Labs, Qrypt, Quantaglian, Quantinuum, Quantropi, QuantumCTek, Quantum Dice, Quantum eMotion, QuintessenceLabs, Quside, Randaemon, Terra Quantum, and Toshiba.

From the Report:

  • Worldwide, the installed base of IoT devices will reach into the billions. These devices are particularly susceptible to hacking; IoT devices typically have minimal security measures. IoT chips are targeted by malware that is specifically aimed at such chips, as well as all the older security attacks that have long been familiar to cybersecurity experts. QRNGs seem like a way of addressing this problem and the new IQT Research report indicates QRNG-based security for IoT networks will exceed $600 million by 2030.  An especially big opportunity for QRNGs is to be found in the Industrial Internet of Things (IIoT) which are to be found in automated factory, retail and office environments.  QRNG are the only form of quantum cybersecurity that is low enough in cost to be used in an IoT environment.
  • Another opportunity for QRNGs derives from using the Internet to distribute QRNG-derived entropy – entropy as a service (EaaS). This service delivers either (1) keys that are created via a quantum entropy source, or (2) the raw entropy for use by the end user in a variety of innovative ways. This service could perhaps be used for smartphones, IoT devices, and maybe even data centers if the key distribution is secure and high rate enough. A number of high-profile firms are already in EaaS business and by 2032 this report predicts that this kind of service will generate around $310 million.
  • QRNGs are an obvious way of protecting automobiles from hacking, which is a growing problem given that as much as 20 percent of the value of a car is now represented by electronics for automation or infotainment. Automobiles and trucks must be protected along with a number of dimensions including vehicle-to-vehicle networks, vehicle-to-infrastructure networks and back-end systems.  This may be achieved using QRNGs and by 2030 we expect QRNGs in the automotive sector to approach $700 million.

IQT Research:
IQT Research is a division of 3DR Holdings, and the first industry analyst firm dedicated to meeting the strategic information and analysis needs of the emerging quantum technology sector. In addition to publishing reports on critical business opportunities in the quantum technology sector, Inside Quantum Technology produces a daily news website on business-
related happenings in the quantum technology field.

3DR Holdings also organizes the Inside Quantum Technology conferences. The next conference is
dedicated to quantum cybersecurity and will be held March 13-15, 2023 in The Hague https://iqtevent.com/thehague/.

For more details on the report, contact:
Lawrence Gasman
Telephone: 434-825-1311

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