Global Market Study on Quantum Cryptography: Rising Adoption of Quantum Computing for Data Security Boosting Market Growth


Quantum Cryptography  Market
  • Published On : Jan-2020 |
  • Pages : 275 Pages |
  • Format : Quantum Cryptography  Market Quantum Cryptography  Market Quantum Cryptography  Market Quantum Cryptography  Market

Encryption techniques are evolving all the time due to increased sophisticated cyber-attacks. Since quantum cryptography can create encryption that is almost impossible to breach by using binary systems, quantum cryptography solutions are expected to be more secure as compared to traditional security solutions. As computers are getting faster and more efficient, it is important to have an efficient encryption system that makes it difficult for such computers to decrypt the data transferred.

Leading technology giants across the world are investing more resources and increasing their research & development activities, with the objective to tap commercial opportunities of providing quantum cryptography services and solutions to government and private sectors. With the usage of quantum computers, it is very easy to break traditional encryption. The use of quantum cryptography ensures much stronger protection of digital assets, the main factor anticipated to drive the growth of the quantum cryptography market over the coming years.

Growing Government Initiatives and Investments in Quantum Cryptography Research Operations

Quantum cryptography technology has the potential to change the dynamics in military affairs and commerce. Governments of various countries are taking initiatives to expand exploratory research on quantum cryptography technologies for the development and establishment of quantum cryptography solutions. Rising governmental investments to develop quantum cryptography solutions for commercial applications is expected to support the growth of the global quantum cryptography market.

For instance, in September 2018, the Whitehouse declared the National Cyber Strategy for securing the data of American citizens. Moreover, as cyber-crimes and malicious cyber activities are on the rise, the Federal government has made significant investments toward cyber security, which is positively influencing the growth of the quantum cryptography market.

High Implementation Cost of Quantum Cryptography Appliances Restricting Market Growth

Quantum cryptography appliances such as quantum random number generator (QRNG) appliances or quantum key distribution (QKD) are relatively expensive to obtain and maintain. Moreover, the hardware cannot be patched remotely or cheaply whenever vulnerabilities are discovered or it degrades. A potentially compromised quantum cryptography appliance needs to be upgraded by an engineer, or recalled by the vendor each time a new vulnerability is announced in public. This significantly increases the cost of hardware appliances for end users, which limits the adoption of such appliances, and subsequently, is restricting the growth of the quantum cryptography market.

Increasing Cases of Cyber Crimes to Bolster Demand for Quantum Cryptography

The occurrence of cyber-crimes is increasing, especially in online banking and financial services, because of the high penetration of Internet services. Moreover, new attack strategies and emergence of quantum computers make public key encryption an essential part of data security. Rising demand for next generation security solutions to secure confidential data is expected to be profitable for existing as well as new vendors and service providers in the quantum cryptography market, who can gain substantial profits by offering efficient quantum cryptography solutions and services in the foreseeable future.

North America Dominating Global Quantum Cryptography Market

Owing to the presence of a majority of key players, North America is dominating the global quantum cryptography market in terms of value for quantum cryptography solutions. Moreover, due to large number of U.S.-based users, there is rapid adoption of quantum cryptography solutions in North America. In addition, governments in North America are investing heavily toward the R&D of quantum cryptography, which is anticipated to further fuel the growth of the quantum cryptography market in the region.

Analysts’ Viewpoint

A comprehensive view of the quantum cryptography market has led our analysts to conclude that, the market is growing at a compelling rate. Regions such as North America and Western Europe hold a large share of the global quantum cryptography market. In the coming years, the quantum cryptography markets in Asia Pacific excluding Japan and Western Europe are anticipated to grow at a significant rate. Alliances with other quantum cryptography solution and service providers is a strategy being opted by major vendors to fuel their sales growth.

Quantum Cryptography Market: Scope of the Report

Persistence Market Research (PMR) recently published a new research analysis on the quantum cryptography market for the assessment period of 2019-2029. The research study on the quantum cryptography market offers a close look at the evolving aspects of the quantum cryptography market as well as the dynamics impacting market growth. The research study focuses on key developments that have made their mark in the quantum cryptography market and other developments that are on the cards. The report talks about various macro and microeconomic factors responsible for having an in-depth impact on the growth of the quantum cryptography market.

A direct market overview provides the growth scenarios and market potential with maximum precision, which is adjudged with suitable assumptions. The report features unique and relevant factors that are likely to have a significant impact on the quantum cryptography market during the forecast period. This report includes a detailed and considerable amount of information, which will help new manufacturers in the most comprehensive manner for better understanding.

Several stakeholders in the quantum cryptography market can rely on the data offered in this research study and delve into pragmatic decision-making. Moreover, information offered in the quantum cryptography market report also helps new market entrants expand their bases in the quantum cryptography market.

The report elaborates the historical and current trends molding the growth of the quantum cryptography market. The performance journey of the quantum cryptography market has been drawn and analyzed in way that the lucrative side of the market is evident to readers. The competitive landscape presented in the quantum cryptography market report gives a detailed outlook of profiles of key companies operating in the market, along with their differential strategies and key focus areas.

Quantum Cryptography Market: Segmentation

PMR’s research study on the global quantum cryptography market offers a detailed market taxonomy, wherein, key segments have been discussed in detail. The segmentation of the quantum cryptography market has been offered on the basis of component, application, industry, and region. Every segment has been analyzed in detail, and data pertaining to the growth of each segment has been included in the study.

Component

Application

Industry

Region

Quantum Cryptography Appliances

  • Quantum Random Number Generator (QRNG) Appliances
  • Quantum Key Generation Appliances
  • Quantum Key Distribution (QKD) Appliances
  • Network Encryption
  • BFSI
  • North America

Quantum Cryptography Software

  • Cryptography Key & Policy Management Software
  • SDKs/APIs
  • Database Encryption
  • Healthcare & Life Science
  • Latin America

Services

  • Integration & Deployment Services
  • Cryptography Consulting
  • Support & Maintenance
  • Application Security
  • Government & Defense
  • Western Europe
  • Cloud Encryption
  • IT & Telecom
  • Eastern Europe
  • Energy & Utilities
  • Asia Pacific Excluding Japan
  • Retail & e-Commerce
  • Japan
  • Others
  • Middle East and Africa

Quantum Cryptography Market: Key Questions Answered in Report

The research study on the quantum cryptography market offers inclusive insights about the growth of the market in the most comprehensible manner for better understanding of users. Insights offered in the quantum cryptography report answer some of the most salient questions that assist the stakeholders in gauging all the emerging possibilities.

  • How has the rapidly changing business environment turned into a major growth engine for the quantum cryptography market?
  • How is ensuring compliance with industry regulations boosting the quantum cryptography market?
  • What are the key trends that are constantly shaping the growth of the quantum cryptography market?
  • Which are the prominent regions offering plentiful opportunities for the quantum cryptography market?
  • What are the key differential strategies adopted by key players to command a significant chunk of the global market share?

Quantum Cryptography Market: Research Methodology

A unique and promising research methodology forms the base of the quantum cryptography market during the forecast period. The report has been prepared after a comprehensive analysis of the market happenings and then riveting insights have been compiled meticulously. The research methodology of the quantum cryptography market has been a two-step process that comprises of primary and secondary research. Key stakeholders, which include quantum cryptography manufacturers, suppliers, and distributors, have been interviewed and experts of several designations, including executive vice presidents, directors, service engineers, technical advisors, GM marketing professionals, and sales professionals.

Secondary sources referred to garner the report findings include investor presentations of manufacturers, World Bank, and many other credible sources.

Companies covered in Quantum Cryptography Market Report

  • ID Quantique
  • Qubitekk
  • Quantum XC
  • QuintessenceLabs
  • PQ Solutions Limited
  • Toshiba Corporation
  • Infineon Technologies AG
  • Thales (Gemalto)
  • MagiQ Technologies
  • Crypta Labs Ltd.
  • Anhui Qasky Quantum Technology Co. Ltd.
  • ISARA Corporation
  • QuantumCTek Co., Ltd.
  • QuNu Labs Pvt. Ltd.

Quantum Cryptography Market

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