Quantum Cryptography Market Scope
Quantum cryptography is a technique for secret communication with ultimate security assurance of inviolability of a law of nature. It was invented by work of Stephen Wiesner and Gilles Brassard in early 1970. Modern Quantum cryptography encrypts the information at the network level in such a manner that one can never read by anyone other than the intended recipient. In the year 2004, the European Union showed interest to invest 11 Million Eur in the research and development of secure communication system based on this technology. The system is also known as SECOQC (secure communication based on Quantum Cryptography), a project that aims to develop quantum cryptography. The coordinator of SECOQC said that people and organizations in Austria, Belgium, the United Kingdom, Canada, the Czech Republic, Denmark, France, Germany, Italy, Russia, Sweden, and Switzerland would participate in the project. The quantum cryptography as a whole is expected to grow exponentially in the forecasted period owing to the rising number of cyber-attacks and increasing government initiatives for maintaining customer data security.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | International Business Machines Corporation (United States), ID Quantique (Switzerland), QuintessenceLabs (Australia), Microsoft Corporation (United States), NuCrypt (United States), MagiQ Technologies (United States), Qasky (China), Mitsubishi Electric (Japan), Qubitekk (United States), HP (United States), NEC (Japan), Toshiba (Japan), Post-Quantum (United Kingdom), Crypta Labs (United Kingdom), ISARA (Canada), QuNu Labs (India) and QuantumCTek (China) |
CAGR | % |
Research Analyst at AMA estimates that Canadian, United Kingdom, Japanese, and United States Players will contribute to the maximum growth of Global Quantum Cryptography market throughout the predicted period.
International Business Machines Corporation (United States), ID Quantique (Switzerland), QuintessenceLabs (Australia), Microsoft Corporation (United States), NuCrypt (United States), MagiQ Technologies (United States), Qasky (China), Mitsubishi Electric (Japan), Qubitekk (United States), HP (United States), NEC (Japan), Toshiba (Japan), Post-Quantum (United Kingdom), Crypta Labs (United Kingdom), ISARA (Canada), QuNu Labs (India) and QuantumCTek (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Quantum Xchange (United States), Aurea Technologies (France), qutools (Germany) and Infineon (Germany).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Quantum Cryptography market by Type , by Application (Data Base Encryption, Network Layer Encryption, Application Security and Others) and Region with country level break-up.
On the basis of geography, the market of Quantum Cryptography has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Influencing Trend:
Technological Advancement in Next-Generation Wireless Network Technologies
Market Growth Drivers:
Rising Number of Cyberattack Incidents, Growing Demand for Security for IoT and Cloud Technologies and Increased Investment in Cybersecurity
Challenges:
Lack of Expertise
Restraints:
High Cost of Implementation and Stringent Government Rules and Regulations
Opportunities:
Rising Usage of Quantum Cryptography to Protect Mobile Transactions
Key Target Audience
Quantum Cryptography Component Manufacturers, Original Equipment Manufacturers (OEMs) Of Quantum Computers, Original Device Manufacturers (ODMs), Assembly, Testing, & Packaging Vendors, Distributors and Traders, Research Organizations and Organizations, Forums, Alliances, & Associations Related To Quantum Cryptography