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Quantum Leap: Transforming Cybersecurity with Quantum Cryptography
Global Quantum Cryptography Market size was valued at USD 712.0 million in 2023 and is projected to reach USD 1,353.7 million by 2031, growing at a CAGR of 8.37% from 2024 to 2031.
This comprehensive research study on the global Quantum Cryptography market offers detailed analyses of market trends, prominent drivers, and future growth prospects, providing readers with an extensive understanding of the market environment necessary for informed business decisions. Covering various aspects such as estimated market sizing, strategies employed by leading companies, restraining factors, and challenges faced by market participants, the report equips stakeholders with actionable insights.
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Market Forecast and Trends
Precise market forecasts and identification of emerging trends enable stakeholders to anticipate the industry’s future trajectory and develop strategic tactics accordingly, providing a competitive edge in a dynamic business landscape.
Regional and Segment Analysis
The study facilitates industry participants in identifying high-growth regions and profitable market segments through region-specific and segment-by-segment analysis. This information aids in devising effective marketing strategies and product lineups tailored to the preferences and needs of diverse target audiences across major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Investment and Expansion Opportunities
The research report unveils prospective areas for investment and business growth in the global Quantum Cryptography market, enabling strategic decision-making for readers seeking to expand into new markets or introduce new products.
Competitive Analysis
In-depth competitive analysis profiles major market competitors and evaluates their strategies, weaknesses, and market shares. Insights into top business strategies employed by key players such as partnerships, alliances, mergers, acquisitions, product innovations, and development empower industry participants to benchmark their businesses against rivals and devise winning strategies for market differentiation.
List of Key Companies in Quantum Cryptography Market
ID Quantique
NEC Corporation
NuCrypt
PQShield Ltd
Quantum Xchange
QuantumCTek
Qubitekk, Inc.
QuintessenceLabs
SSH Communication Security
Toshiba Digital Solutions Corporation
Reasons to Purchase This Report:
Futureproof Decisions: Gain precise market forecasts and identify emerging trends to confidently navigate the future of the Quantum Cryptography market.
Competitive Advantage: Outperform rivals with a comprehensive competitive analysis, revealing their strategies and market share.
Growth Catalysts Exposed: Uncover the key factors driving market expansion and leverage them to propel your business forward.
Profitable Opportunities: Pinpoint high-growth regions and lucrative market segments through in-depth regional and segment analysis.
Investment Guidance: Strategically plan investments and expansions in the global Quantum Cryptography market with insights on potential growth areas.
Informed Decisions: Utilize precise market forecasts and in-depth analysis to make data-driven business decisions.
Market Expertise: Deepen your understanding of market trends and growth drivers for a comprehensive market landscape overview.
Actionable Insights: Gain practical takeaways from the report's competitive analysis, market sizing, and future projections.
The Global Quantum Cryptography Market is Segmented as:
By Offerings
Solutions
Services
By Application
Network Security
Application Security
Database Security
By End-Use Industry
Government & Defense
BFSI
Healthcare
Telecommunication
Other End Use Industry
By Region
North America
U.S.
Canada
Mexico
Europe
France
U.K.
Spain
Germany
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Middle East & Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
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Global Quantum Cryptography Market Forecast to 2024
Quantum Cryptography Market -By Components (Hardware, and Software); By Applications ( Network Security, Application Security, and Database Encryption); By End-users (Governing & regulatory Bodies, SMEs, Large Enterprises); By Regions (Americas, EMEA, and, APAC) Drivers, Opportunities, Restraints, Trends, and Forecast to 2024
Quantum cryptography is a new method for secret communications that provides the assurance of security of digital data. Quantum cryptography is primarily based on the usage of individual particles/waves of light (photon) and their essential quantum properties for the development of an unbreakable cryptosystem, primarily because it is impossible to measure the quantum state of any system without disturbing that system. It is hypothetically possible that other particles could be used, but photons offer all the necessary qualities needed, the their behavior is comparatively understandable, and they are the information carriers in optical fiber cables, the most promising medium for very high-bandwidth communications.
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#quantum cryptography#cryptography#network security#application security#database encryption#id quantique#magiq#Nucrypt#infineon technologies#Qutools#quintenssence#Crypta Labs#PQ Solutions
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Quantum Cryptography Market Share, Growth Prospects and Key Opportunities by 2025
According to a research report "Quantum Cryptography Market Growth by Component (Solutions and Services), Services (Consulting and Advisory, Deployment and Integration, and Support and Maintenance), Security Type (Network and Application Security), Vertical & Region - Global Forecast to 2025" published by MarketsandMarkets, the global quantum cryptography market size is estimated to be USD 89 million in 2020 and projected to reach USD 214 million by 2025 at a CAGR of 19.1%. Factors such as the growing incidents of cyber-attacks in the era of digitalization, increasing cybersecurity funding, rising demand of next-generation security solutions for cloud and IoT technologies, and evolving next-generation wireless network technologies are expected to drive the growth of the global quantum cryptography market.
Solution segment to account for a higher market share during the forecast period
The quantum cryptography solutions segment includes the revenue generated from Quantum Key Distribution (QKD) platforms, QKD servers, virtual encryptors, QKD distributors, key and policy managers, SDK to integrate cryptography, quantum cryptography communication device, quantum security gateway, Quantum Random Number Generator (QRNG), hackerbox, quantum secure communication network products, and repeaters, along with factors essential for the implementation of quantum cryptography. This solution helps in encrypting the critical information without being leaked midway.
Increasing demand for consultations to solve the problems that hinder commercial clients’ business growth set to fuel the growth of consulting and advisory segment
Quantum cryptography service providers render a variety of services, such as consulting and advisory, deployment and integration, and support and maintenance service. Quantum cryptography consulting and advisory services play an important role in the implementation of the required set of solutions and techniques for securing the transmission of data. For this, qualified industry experts and security professionals are involved as consultants. Consultants help enterprises devise security strategies, minimize risks, understand the maturity of their quantum cryptography solutions, and reduce compliance costs. Advisory services assist organizations in solving a problem that hinders their business growth; the experts guide the path or directs the clients on where to go for help. Advisory service is provided by experienced experts, who offer hands-on, practical help, advice, and support business areas that will help make a difference to the business.
Americas region is expected to grow at the highest CAGR during the forecast period
The rise in cyber-attacks in this region is one of the major factors responsible for the growth of the market. Due to the high adoption of encryption-based applications in the Americas, the attacks are increasing dramatically and becoming more sophisticated. Furthermore, the growing IT management complexity, along with the increasing need for data privacy and security is an important factor driving the quantum cryptography market in the region. Countries such as the US, Canada, Brazil, and Mexico are generating significant revenue in this market. The organizations in this region are focusing on securing their applications and networks using various quantum cryptography appliances. In addition, the region has witnessed several government initiatives followed by heavy funding in research and development.
Major vendors in the global quantum cryptography market include ID Quantique (Switzerland), QuintessenceLabs (Australia), NuCrypt (US), Qasky (China), Crypta Labs (UK), Qubitekk (US), Post-Quantum (UK), MagiQ Technologies (US), ISARA (Canada), QuNu Labs (India), QuantumCTek (China), Quantum Xchange (US), Aurea Technologies (France), qutools (Germany), Infineon (Germany), Mitsubishi Electric (Japan), IBM (US), HP (US), NEC (Japan), Toshiba (Japan), Microsoft (US), Raytheon Technologies (US), Crypto Quantique (UK), Qrypt (US) and Onboard security (US).
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Quantum Cryptography Market 2022 , Share & Growth | Industry Analysis by 2031
Quantum Cryptography Market Overview
Global Quantum Cryptography Market to Reach US$291.9 Million by the Year 2028. Quantum cryptography harnesses the quantum-mechanical properties of light for creating a secure encryption and enabling secure data transfer between any two parties. Quantum cryptography presents a more practical and cost-effective approach for securing communications, with a virtually unbreakable mode of relaying information, as the technology is based on the principles of quantum mechanics, a time-tested universal scientific model, rather than complex mathematical algorithms. Growth in the global market is set to be driven by rising frequency of cyber-attacks, increasing focus on cyber-security and evolution of sophisticated wireless networks. Quantum cryptography is gaining attention due to increasing digitalization and the resulting surge in cyber-security risks and other threats such as data security and breach. Industries across different verticals are facing increasing frequency and sophistication of cyber-attacks due to proliferation of the Internet, connected devices and online services. The market growth is favored by high reliance of organizations and customers on computer networks for transactions and communication, which is leading to the demand for advanced technology to safeguard sensitive data.
Amid the COVID-19 crisis, the global market for Quantum Cryptography estimated at US$128.9 Million in the year 2022, is projected to reach a revised size of US$291.9 Million by 2028, growing at a CAGR of 20.8% over the analysis period. Solutions, one of the segments analyzed in the report, is projected to grow at a 18.3% CAGR to reach US$194.2 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 24.7% CAGR for the next 7-year period. This segment currently accounts for a 35.6% share of the global Quantum Cryptography market. The pressing need to protect the network from various vulnerabilities is driving an increasing number of industries like BFSI, defense, government, healthcare, automotive and retail to embrace quantum cryptography solutions.
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The U.S. Market is Estimated at $49 Million in 2022, While China is Forecast to Reach $40.6 Million by 2028 The Quantum Cryptography market in the U.S. is estimated at US$49 Million in the year 2022. The country currently accounts for a 37.5% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$40.6 Million in the year 2028 trailing a CAGR of 19.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 19.5% and 21.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 21.1% CAGR while Rest of European market (as defined in the study) will reach US$23 Million by the end of the analysis period. North America is projected to dominate the global market and account for the leading revenue share due to an extensive customer base, increasing incident of cyber-attacks and rising investments in R&D. The proliferation of encryption-based applications in the region has resulted in dramatic surge in frequency of sophisticated cyber-attacks, requiring companies to secure networks and applications with implementation of quantum cryptography solutions. The Asia-Pacific market is anticipated to witness increasing efforts by providers of quantum cryptography services and solutions to join hands with clients to boost overall sales and market presence.
Who are the leading companies in Quantum Cryptography Services market? MagiQ Technologies Quantum XC Qubitekk QuintessenceLabs NuCrypt Qasky Crypta Labs
Quantum Cryptography Services markets by category Consulting and Advisory Deployment and Integration Support and Maintenance
Quantum Cryptography Services Market by Application (Percentage of Demand) G&P Defense BFSI Telecom
Region Segmentation North America (United States, Canada, Mexico) South America (Brazil, Argentina, Other) Asia Pacific (China, Japan, India, Korea, Southeast Asia) Europe (Germany, UK, France, Spain, Italy) Middle East and Africa (Middle East, Africa)
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Quantum Cryptography Market Growth, Industry Analysis, Share, Trend, Top Key Players and Forecast by 2028
Quantum Cryptography Market Overview
Global Quantum Cryptography Market to Reach US$291.9 Million by the Year 2028. Quantum cryptography harnesses the quantum-mechanical properties of light for creating a secure encryption and enabling secure data transfer between any two parties. Quantum cryptography presents a more practical and cost-effective approach for securing communications, with a virtually unbreakable mode of relaying information, as the technology is based on the principles of quantum mechanics, a time-tested universal scientific model, rather than complex mathematical algorithms. Growth in the global market is set to be driven by rising frequency of cyber-attacks, increasing focus on cyber-security and evolution of sophisticated wireless networks. Quantum cryptography is gaining attention due to increasing digitalization and the resulting surge in cyber-security risks and other threats such as data security and breach. Industries across different verticals are facing increasing frequency and sophistication of cyber-attacks due to proliferation of the Internet, connected devices and online services. The market growth is favored by high reliance of organizations and customers on computer networks for transactions and communication, which is leading to the demand for advanced technology to safeguard sensitive data.
Amid the COVID-19 crisis, the global market for Quantum Cryptography estimated at US$128.9 Million in the year 2022, is projected to reach a revised size of US$291.9 Million by 2028, growing at a CAGR of 20.8% over the analysis period. Solutions, one of the segments analyzed in the report, is projected to grow at a 18.3% CAGR to reach US$194.2 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 24.7% CAGR for the next 7-year period. This segment currently accounts for a 35.6% share of the global Quantum Cryptography market. The pressing need to protect the network from various vulnerabilities is driving an increasing number of industries like BFSI, defense, government, healthcare, automotive and retail to embrace quantum cryptography solutions.
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The U.S. Market is Estimated at $49 Million in 2022, While China is Forecast to Reach $40.6 Million by 2028 The Quantum Cryptography market in the U.S. is estimated at US$49 Million in the year 2022. The country currently accounts for a 37.5% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$40.6 Million in the year 2028 trailing a CAGR of 19.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 19.5% and 21.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 21.1% CAGR while Rest of European market (as defined in the study) will reach US$23 Million by the end of the analysis period. North America is projected to dominate the global market and account for the leading revenue share due to an extensive customer base, increasing incident of cyber-attacks and rising investments in R&D. The proliferation of encryption-based applications in the region has resulted in dramatic surge in frequency of sophisticated cyber-attacks, requiring companies to secure networks and applications with implementation of quantum cryptography solutions. The Asia-Pacific market is anticipated to witness increasing efforts by providers of quantum cryptography services and solutions to join hands with clients to boost overall sales and market presence.
Who are the leading companies in Quantum Cryptography Services market? MagiQ Technologies Quantum XC Qubitekk QuintessenceLabs NuCrypt Qasky Crypta Labs
Quantum Cryptography Services markets by category Consulting and Advisory Deployment and Integration Support and Maintenance
Quantum Cryptography Services Market by Application (Percentage of Demand) G&P Defense BFSI Telecom
Region Segmentation North America (United States, Canada, Mexico) South America (Brazil, Argentina, Other) Asia Pacific (China, Japan, India, Korea, Southeast Asia) Europe (Germany, UK, France, Spain, Italy) Middle East and Africa (Middle East, Africa)
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Quantum Cryptography Market Growth Factors, Key Drivers and Key Restraining Factors Analysis by 2027
The global quantum cryptography market is segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market for quantum cryptography in North America is expected to dominate the global market during forecast period. This growth is attributed to increasing cyber-attacks in this region on web based business such as healthcare, banking and financial, and retail and manufacturing. For instance, according to the Internet Crime Complaint Center (IC3), in 2016, cybercrimes resulted in a loss of over US$ 1.33 billion globally. California witnessed the highest recorded loss with over US$ 255 million. In 2016, around 28% of web application attacks were recorded in the U.S., followed by the Netherlands and Germany. This in turn creates a highly conducive environment for growth of the market.
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Competitive Scenario:-
Major players operating in the global quantum cryptography market include Magiq Technologies, Inc., Quintessencelabs, Nucrypt LLC, Qutools GmbH, Qasky, Crypta Labs Ltd, Qubitekk, Inc., PQ Solutions, Infineon Technologies AG, and Id Quantique.
The Quantum Cryptography report focuses on major market dynamics of the sector. Certain definitions and categorization of the Quantum Cryptography industry, applications of the industry, and chain structure analysis are provided. The ongoing market scenario and future estimation also have been analysed. Furthermore, fundamental strategically activities in the market, which include the development of the products, acquisitions, partnerships, etc., are included. The professional survey study also examines the changing nature of various once-dominant trends post the outbreak of the novel coronavirus in the global Quantum Cryptography Market. It assesses the ones that still remain significant while depicting others that lost their momentum in present-day global Quantum Cryptography Market.
Historical and future market trends are provided, as well as business innovations, augmented by challenges raised by multinational suppliers as well as end-users. The research analyses the major Quantum Cryptography markets at the national and regional level, driven by wide-ranging primary insight and implementation trends, with a focus on the world’s leading Quantum Cryptography suppliers. Likewise, the Quantum Cryptography market research is designed with advanced methodologies along with the delivery as well as retailer review of the Quantum Cryptography field.
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This research report is focused on different layers of analysis from a summary point of view: industry analysis (industry trends), top company market share analysis, supply chain analysis, and brief sector profiles. The market research also delivers a deeper analysis of the global economy’s expansions and the factors impeding market development. Every type produces data about sales during the forecast processes. This research covers primary and secondary drivers, leading economies, market share, drivers, and the regional market climate of the global Quantum Cryptography market.
It helps the reader understand the strategies and collaborations that players are focusing on combatting competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, during the forecast period.
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Understand where the market opportunities lie.
Compare and evaluate various options affecting the market.
Pick up on the leading market players within the market.
Envision the restrictions and restraints that are likely to hamper the market.
In-depth market segmentation by Type, Application, etc.
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising
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Quantum Cryptography Solutions Market 2021 | Covid19 Impact Analysis | Size, Share, Sales and Forecast to 2026: Aurea Technologies, ISARA, NEC, HP, QuantumCTek, etc.
Global Quantum Cryptography Solutions Market 2021 report is comprised of an in-depth analysis of the global industry which aims to deliver comprehensive market intelligence study associated with major market components. The report includes an overview of these markets on different fronts such as market size, market share, market penetration of the product and services, market downstream fields, key vendors operating within the territory, market price analysis and more. This might help readers across the worldwide business industry to comprehend a lot about the regional as well as key domestic markets for Quantum Cryptography Solutions. Reports include an overview and examination of the major companies operating within the industry which are considered to be revenue drivers for the market.
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Top Key players of Quantum Cryptography Solutions Market Covered In The Report: Aurea Technologies ISARA NEC HP QuantumCTek NuCrypt Quantum Xchange Toshiba QuintessenceLabs IBM Post-Quantum Infineon QuNu Labs Qasky Toshiba Microsoft Crypta Labs MagiQ Technologies Qubitekk Mitsubishi Electric MagiQ Technologies, Inc. SeQureNet ID Quantique Key Market Segmentation of Quantum Cryptography Solutions:
On the basis of types, the Quantum Cryptography Solutions market from 2015 to 2025 is primarily split into:
Hardware Software Services On the basis of applications, the Quantum Cryptography Solutions market from 2015 to 2025 covers:
Government and defense BFSI Retail Healthcare Automotive Others
The Quantum Cryptography Solutions report includes the study of these ventures on parameters such as market share, company profile, revenue figures, sales data, market presence, product or service portfolio, past performance, expected performance, and more. This may assist those who are willing to enhance their know-how of the competitive scenario of the Quantum Cryptography Solutions Market.
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Key Highlights from Quantum Cryptography Solutions Market Study:
Income and Sales Estimation – Historical Revenue and deals volume is displayed and supports information is triangulated with best down and base up ways to deal with figure finish market measure and to estimate conjecture numbers for key areas shrouded in the Quantum Cryptography Solutions report alongside arranged and very much perceived Types and end-utilize industry. Moreover, macroeconomic factors and administrative procedures are discovered explanation in Quantum Cryptography Solutions industry advancement and perceptive examination.
Assembling Analysis – The Quantum Cryptography Solutions report is presently broken down concerning different types and applications. The Quantum Cryptography Solutions market gives a section featuring the assembling procedure examination approved by means of essential data gathered through Industry specialists and Key authorities of profiled organizations.
Competition Analysis – Quantum Cryptography Solutions Leading players have been considered relying upon their organization profile, item portfolio, limit, item/benefit value, deals, and cost/benefit.
Demand and Supply and Effectiveness –
Quantum Cryptography Solutions report moreover gives support, Production, Consumption and (Export and Import).
Quantum Cryptography Solutions Market Region Mainly Focusing: — Europe Quantum Cryptography Solutions Market (Austria, France, Finland, Switzerland, Italy, Germany, Netherlands, Poland, Russia, Spain, Sweden, Turkey, UK), — Asia-Pacific and Australia Quantum Cryptography Solutions Market (China, South Korea, Thailand, India, Vietnam, Malaysia, Indonesia, and Japan), — The Middle East and Africa Quantum Cryptography Solutions Market (Saudi Arabia, South Africa, Egypt, Morocco, and Nigeria), — Latin America/South America Quantum Cryptography Solutions Market (Brazil and Argentina), — North America Quantum Cryptography Solutions Market (Canada, Mexico, and The USA)
The Quantum Cryptography Solutions Market report concludes with sharing vital report findings with readers. Here on the basis of study of historical data, examination of the current scenarios overserved in various markets including regional and domestic and trends recorded, it delivers forecast of the market. This includes segmental forecast, regional market forecast, market size forecast, consumption forecast.
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Quantum Cryptography Solutions, Quantum Cryptography Solutions Market, COVID19 Impact on Quantum Cryptography Solutions Market, Quantum Cryptography Solutions Forecast, Quantum Cryptography Solutions Market Growth, Quantum Cryptography Solutions Market Sales, Quantum Cryptography Solutions Market Size, Quantum Cryptography Solutions Market Regional Analysis
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Quantum Cryptography Market: Owing to Reasonable Cost
Market Synopsis
The data analysts at Market Research Future Reports (MRFR) have revealed that the global quantum cryptography market is estimated to thrive at a CAGR of 14% during the forecast period from 2017 to 2023. The growing concerns of privacy and the rising security of data are speculated to be the most substantial factor affecting the global quantum cryptography market 2020. In addition, increased adoption of cloud storage and computing technologies is estimated to play a crucial role in expanding the global market. Furthermore, the increasing demand for advanced security solutions across various sectors is estimated to produce potent opportunities for the global market.
However, lack of awareness about quantum cryptography impedes the market expansion during the assessment period. On the other hand, the spread of COVID-19 has resulted in a significant change in market dynamics. Precise research is being conducted on the aftermath of coronavirus on the global quantum cryptography market. We will provide an impact analysis report on COVID-19.
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Market Segmentation
The global quantum cryptography market can be segmented on the basis of component, application, service, vertical, and geography.
On the basis of the component, the worldwide quantum cryptography market can be segmented into hardware and software.
On the basis of application, the worldwide quantum cryptography market can be segmented into application security, database encryption, and network security.
On the basis of service, the worldwide quantum cryptography market can be segmented into deployment and integration services, support and maintenance services, and consulting services.
On the basis of vertical, the worldwide quantum cryptography market can be segmented into consumer goods and retail, banking and financial services, government and defence, healthcare and life sciences, and I.T and telecom.
On the basis of geography, the worldwide quantum cryptography market can be segmented into North America, Asia Pacific, Europe, and Rest of the World (RoW).
Regional Analysis
In-depth analysis of North America, Asia Pacific, Europe, and Rest of the World (RoW) has been conducted. The analysts have revealed that the market is estimated to grow significantly during the forecast period. As per the analysis, North America is estimated to lead the global quantum cryptography market. The region is predicted to acquire the maximum market share during the assessment period. The region has been witnessing high adoption of cloud-based applications and the rising concern for safety and security, which is likely to fuel the market. On the other hand, the Asia-Pacific region is likely to expand at the fastest rate during the assessment period. The region consists of emerging nations like India, China, and Japan, which are likely to make substantial participation in market growth.
However, market dynamics are likely to change significantly during the review period. Several regions have been affected substantially due to the spread of COVID-19. We will provide the aftermath COVID-19 report on the impact analysis of the market.
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Key Players
The worldwide competitors of the quantum cryptography market are Infineon (Germany), P.Q. Solutions (U.K), Qubitekk (U.S), Nucrypt Llc (U.S), QuintessenceLabs (Australia), Crypta Labs (U.K), Magiq Technologies (U.S), qutools GmbH (Germany), NEC Corporation (Japan), Toshiba (Japan), and a few more.
Industry News
July 2020
PQShield, originating from the University of Oxford, raises $ 7 million for quantum-ready cryptographic security solutions. It claims to make the cryptographic security which can not be hacked even with the most developed systems which will continue to be usable in a post-quantum future.
PQShield was founded in 2018, and the startup claims to have the U.K.’s highest condensed cryptography PhDs outside academia and classified agencies.
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Quantum Cryptography Market Competitive Strategy Analysis
Market Highlights:
The global quantum cryptography market is projected to witness a steady growth during the forecast period. Increasing concerns related to data security and privacy are preliminary factors driving the market. In addition, rise in use of cloud storage and computing technologies further fuel the market growth.
The global quantum cryptography market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. As compared to other regions, the quantum cryptography market in Asia Pacific is expected to witness a significant growth during the forecast period. India and China are anticipated to drive the growth of the Asia Pacific quantum cryptography market owing to increasing concerns over data security and privacy. The market is likely to show immense growth in the coming future. North America has a well-established infrastructure, which allows higher penetration of devices and ultimately provides better connectivity. Advancements in the technology and shift towards community cloud are other major factors responsible for the growth of the quantum cryptography market.
In the global quantum cryptography market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the growth in digital intelligent devices and digitization campaigns by Indian government.
The global quantum cryptography market is projected to reach USD 640 Million at a CAGR of over 14% by the end of the forecast period 2017-2023.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Quantum cryptography Market Research Report-Forecast to 2023”.
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Global Quantum cryptography Market Segmentation:
The global quantum cryptography market is segmented on the basis of service, application, vertical, and component. The service segment is classified into support and maintenance services, deployment and integration services, consulting services. Based on application, the market is segmented into database encryption, application security and network security. The vertical segment includes banking and financial services, consumer goods and retail, government and defense, it and telecom, healthcare and life sciences. Based on component the market is segmented into hardware and software. The deployment and integration services to hold the major share of the market owing to the increasing demand for secure data transmissions.
Some of the prominent players in the global quantum cryptography market: PQ Solutions (U.K), Infineon (Germany), Qubitekk (U.S), Quintessencelabs (Australia), Nucrypt (U.S), Crypta Labs (U.K), Qutools (Germany), Magiq Technologies (U.S), NEC Corporation (Japan) and Toshiba (Japan).
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Market Research Analysis:
North America is estimated to account for the largest share of the market, whereas Asia Pacific market is projected to grow at the fastest rate during the forecast period. The Asia Pacific market is witnessing rapid growth due to growth in digital data and digital intelligent devices which is further supplemented by digital India campaigns by the Indian government. The U.S. holds majority of the market share both in terms of revenue as well as adoption of quantum cryptography market.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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Quantum Cryptography Market Innovations, Technology Growth and Research -2025
According to a research report "Quantum Cryptography Market Forecast by Component (Solutions and Services), Services (Consulting and Advisory, Deployment and Integration, and Support and Maintenance), Security Type (Network and Application Security), Vertical & Region - Global Forecast to 2025" published by MarketsandMarkets, the global quantum cryptography market size is estimated to be USD 89 million in 2020 and projected to reach USD 214 million by 2025 at a CAGR of 19.1%. Factors such as the growing incidents of cyber-attacks in the era of digitalization, increasing cybersecurity funding, rising demand of next-generation security solutions for cloud and IoT technologies, and evolving next-generation wireless network technologies are expected to drive the growth of the global quantum cryptography market.
Solution segment to account for a higher market share during the forecast period
The quantum cryptography solutions segment includes the revenue generated from Quantum Key Distribution (QKD) platforms, QKD servers, virtual encryptors, QKD distributors, key and policy managers, SDK to integrate cryptography, quantum cryptography communication device, quantum security gateway, Quantum Random Number Generator (QRNG), hackerbox, quantum secure communication network products, and repeaters, along with factors essential for the implementation of quantum cryptography. This solution helps in encrypting the critical information without being leaked midway.
Increasing demand for consultations to solve the problems that hinder commercial clients’ business growth set to fuel the growth of consulting and advisory segment
Quantum cryptography service providers render a variety of services, such as consulting and advisory, deployment and integration, and support and maintenance service. Quantum cryptography consulting and advisory services play an important role in the implementation of the required set of solutions and techniques for securing the transmission of data. For this, qualified industry experts and security professionals are involved as consultants. Consultants help enterprises devise security strategies, minimize risks, understand the maturity of their quantum cryptography solutions, and reduce compliance costs. Advisory services assist organizations in solving a problem that hinders their business growth; the experts guide the path or directs the clients on where to go for help. Advisory service is provided by experienced experts, who offer hands-on, practical help, advice, and support business areas that will help make a difference to the business.
Americas region is expected to grow at the highest CAGR during the forecast period
The rise in cyber-attacks in this region is one of the major factors responsible for the growth of the market. Due to the high adoption of encryption-based applications in the Americas, the attacks are increasing dramatically and becoming more sophisticated. Furthermore, the growing IT management complexity, along with the increasing need for data privacy and security is an important factor driving the quantum cryptography market in the region. Countries such as the US, Canada, Brazil, and Mexico are generating significant revenue in this market. The organizations in this region are focusing on securing their applications and networks using various quantum cryptography appliances. In addition, the region has witnessed several government initiatives followed by heavy funding in research and development.
Major vendors in the global quantum cryptography market include ID Quantique (Switzerland), QuintessenceLabs (Australia), NuCrypt (US), Qasky (China), Crypta Labs (UK), Qubitekk (US), Post-Quantum (UK), MagiQ Technologies (US), ISARA (Canada), QuNu Labs (India), QuantumCTek (China), Quantum Xchange (US), Aurea Technologies (France), qutools (Germany), Infineon (Germany), Mitsubishi Electric (Japan), IBM (US), HP (US), NEC (Japan), Toshiba (Japan), Microsoft (US), Raytheon Technologies (US), Crypto Quantique (UK), Qrypt (US) and Onboard security (US).
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Quantum Cryptography : Emerging secure data transmission technology has bright future in Coming year
Quantum Cryptography is at a nascent stage with massive potential to break through the cybersecurity industry. The quantum cryptography market players are constantly engaging themselves in advancing their features intending to offer highly secured solutions to their clients. The rise in quantum computing has led to the surge in expose of confidential data across industries. Owing to this, several end users of encryption solutions are investing significant amounts in procuring advanced data security solutions and services such as quantum cryptography.
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Cybersecurity is one of the critical components of the Organization’s IT modernization efforts, and the organizations are actively focusing on securing the Federal enterprise from cyber-associated threats globally. The investment of the Federal Government’s inclusively for cybersecurity risk is continuously increasing to protect the Federal enterprise from cyber risk. For instance, in 2018, the Whitehouse announced the National Cyber Strategy through which the government concentrates strongly on securing the personal data of the American Public. The National Cyber Strategy identifies that public, as well as private entities, are struggling for securing their systems as market rivals have increased the frequency of their malicious cyber activities, which forced the Federal Government to invest more and more to secure cyber environment for the country.
The governments of different countries across the globe as well as various private organizations are significantly investing in cybersecurity. This is majorly attributed to secure critical data from unauthorized individuals while transferring. The enhanced security solutions offered by the market players including Quantum Key Distribution (QKD), virtual encryptor, quantum cryptography communication device and Quantum Random Number Generator (QRNG) among others facilitate in strongly encrypting critical data. This factor is attracting several governments and industries to invest in such advanced technology. Thus, the rising investment towards cybersecurity solutions is a key catalyzer for quantum cryptography market.
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Company Profiles - ID Quantique SA, MagiQ Technologies, NuCrypt LLC, Anhui Qasky Quantum Technology , Qubitekk, QuintessenceLabs, qutools GmbH, Toshiba , International Business Machines, Infineon Technologies AG
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Quantum Cryptography Market Growth and Fute Demand 2026
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Quantum Cryptography Market Poised to Take Off by 2026
Quantum cryptography is a technique to ensure confidentiality of communicating information. It is a blend of quantum mechanics, which allows to perform various cryptography tasks those are not possible by non-quantum communication. The key factor responsible for the growth of quantum cryptography market is increasing incidents of cyber-attacks globally. For instance, In July 2017, cybercrime increased up to 84.1% from 68.8%, which was recorded in June 2016. Banking and finance is the major sector prone to cyber-attack. Quantum Cryptography is used for protecting private information of data or cash related to their customers. This confidential data is highly susceptible to cyber-threats.
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Quantum Cryptography Market: Regional Insights
The global quantum cryptography market is segmented on the basis of regions into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market for quantum cryptography in North America is expected to dominate the global market during forecast period. This growth is attributed to increasing cyber-attacks in this region on web based business such as healthcare, banking and financial, and retail and manufacturing. For instance, according to the Internet Crime Complaint Center (IC3), in 2016, cybercrimes resulted in a loss of over US$ 1.33 billion globally. California witnessed the highest recorded loss with over US$ 255 million. In 2016, around 28% of web application attacks were recorded in the U.S., followed by the Netherlands and Germany. This in turn creates a highly conducive environment for growth of the market.
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Quantum Cryptography Market: Competitive Background
Major players operating in the global quantum cryptography market include Magiq Technologies, Inc., Quintessencelabs, Nucrypt LLC, Qutools GmbH, Qasky, Crypta Labs Ltd, Qubitekk, Inc., PQ Solutions, Infineon Technologies AG, and Id Quantique.
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Quantum Cryptography Market 2020- Revenue, Price and Gross Margin Research Report 2020
Primary Drivers and Key Barriers
The global quantum cryptography market is presumed to achieve a CAGR of approximately 14% during the forecast period (2017-2023), suggests Market Research Future (MRFR).
In September 2019, imec and the National University of Singapore (NUS) announced their research collaboration agreement, which is aimed at developing new types of silicon photonics chip-based prototypes to attain secure quantum communication networks. Several types of research in this field are taking place that aims to develop enhanced solutions, in addition to catering to the rising security needs of customers. Such innovations add to the potential possessed by quantum communication technologies and also help create a worldwide secured quantum internet. Therefore, given the surge in the number of researches all over the world, data analysts at MRFR are of the view that the quantum cryptography can have a lucrative run during the forecast period.
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The market also benefits from the increasing number of cyber-attacks and the rising adoption of advanced technologies including cloud computing and internet of things (IoT). Growth in government rules and regulations to maintain customer data security also works in favor of the market. As quantum cryptography systems offer a host of characteristics that help solve cyberspace security essential issues, its demand is predicted to surge in the coming years, giving the market the much-needed boost.
The increasing prevalence of digitalization has augmented the number of cyber breaches across almost every industry vertical. However, the financial sectors are constantly targeted and are therefore vulnerable to cyber-attacks, given the sensitivity of the information. Some examples are cyber-attack against Tesco Bank and DDoS attack against HSBC Bank. The data stored on the clouds or on-premise is extremely vulnerable to cyberattacks, the adoption of quantum cryptography solutions to safeguard private information of cash or data related to customers has risen significantly over the past few years.
Leading Vendors
The leading vendors in the worldwide quantum cryptography market are Qubitekk (U.S), Magiq Technologies (U.S), Nucrypt Llc (U.S), PQ Solutions (U.K), qutools GmbH (Germany), Infineon (Germany), Crypta Labs (U.K), NEC Corporation (Japan), Toshiba (Japan), Quintessencelabs (Australia), and others.
Market Segmentation
The worldwide quantum cryptography market has been examined with respect to primary segments like service, application, vertical, component.
Service-wise, the market caters to support and maintenance services, deployment and integration services, consulting services.
With regard to the application, the market includes application security, database encryption, and network security.
The vertical segment includes consumer goods and retail, banking and financial services (BFSI), IT and telecom, government and defense, healthcare and life sciences. The IT and telecom vertical is slated to account for the largest share in the market, backed by the increasing number of cyber-attacks along with the subsequent rise in the need for safety and security.
The component-dependent segments in the market are software and hardware.
Regional Insight
The quantum cryptography market is primarily concentrated in the regions of North America, Asia Pacific (APAC), Europe, and Rest of the World (RoW).
North America is presumed to be the most profitable market for quantum cryptography in the years to come. The region notes huge data generation due to the expanding IoT market, which encompasses smart grids, IIoT, smart consumer wearables, smart cities, smart appliances, and smartphones. This has led to high demand for quantum cryptography in the region. Mounting concerns associated with cyberattacks and data theft, surging cybersecurity market and thriving fiber optics industry are additional factors that promote the growth of the quantum cryptography market in the region.
In Europe, rising need for encryption-based applications coupled with the growing adoption of connected devices like BYOD and IoT prompt a number of sectors to make use of quantum cryptography solutions.
There is a high possibility that the APAC market can achieve the fastest growth rate in the following years, thanks to the mounting incidences of cyber-attacks in online banking as well as financial services. High penetration of internet services also adds to market strength. Besides, soaring demand for next-generation security solutions such as quantum cryptography that helps secure confidential data stimulates the market growth in the region.
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TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
Continued…
LIST OF TABLES
Table1 Global Quantum Cryptography Market: By Region, 2017-2023
Table2 North America Quantum Cryptography Market: By Country, 2017-2023
Table3 Europe Quantum Cryptography Market: By Country, 2017-2023
Continued…
LIST OF FIGURES
FIGURE 1 Global Quantum Cryptography Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis of Global Quantum Cryptography Market
Continued…
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Quantum Cryptography Market by Component (Solutions and Services), Services (Consulting and Advisory, Deployment and Integration, and Support and Maintenance), Security Type (Network and Application Security), Vertical & Region - Global Forecast to 2025 published on
https://www.sandlerresearch.org/quantum-cryptography-market-by-component-solutions-and-services-services-consulting-and-advisory-deployment-and-integration-and-support-and-maintenance-security-type-network-and-application-s.html
Quantum Cryptography Market by Component (Solutions and Services), Services (Consulting and Advisory, Deployment and Integration, and Support and Maintenance), Security Type (Network and Application Security), Vertical & Region - Global Forecast to 2025
Global quantum cryptographymarket size to grow at a CAGR of 19.1% during the forecast period
The global quantum cryptography market size is estimated to be USD 89 million in 2020 and is projected to reach USD214million by 2025, at a CAGR of 19.1% during the forecast period. Major growth factors for the market include the growing incidents of cyber-attacks in the era of digitalization, increasing cybersecurity funding, rising demand of next-generation security solutions for cloud and IoT technologies, and evolving next-generation wireless network technologies. However, lack of expertise and high implementation costcouldrestrain the market growth.
Growing demand for integration of quantum cryptography solutions is set to fuel the growth of solutions segment
The continuous increase of data transmitted electronically has led to an increased need for and reliance on cryptography. Quantum cryptography solutions enable people to experience the same level of trust and confidencein the digital world as in the physical world. These solutions further enablemillions of people to interact electronically via e-mail, eCommerce, ATMs, cell phones, etc. The quantum cryptographic solutions such as Quantum Key Distribution (QKD) platforms, QKD servers, virtual encryptors, QKD distributors, key and policy managers, SDK to integrate cryptography, quantum cryptography communication device, quantum security gateway, Quantum Random Number Generator (QRNG), hackerbox, quantum secure communication network products, and repeaters, used to secure advanced cyber-attacks are in huge demand across the globe. Moreover, this solution can easily be integrated with existing security systems. Hence, the solution segment is expected to hold the highest market share in the quantum cryptography space.
North America to hold the largest market size, and to grow at the highest growth rate during the forecast period
The US is the most developed country in terms of technology adoption and investments. The widespread adoption of PCs and internet services for business purposes and storage of critical data across the world has increased the propensity of data breach and theft. In addition, the major growth factors that would drive the adoption of quantum cryptography include the growing need for data privacy and security and an increasing number of cyber-attacks. The Americas are the largest revenue contributors in the quantum cryptography market, as the market is being driven by the early adoption of advanced technologies such as cloud and IoT, high level of IT capabilities, and higher IT investments.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the quantum cryptography marketplace.
The following list provides the breakup of primary respondents’ profiles:
By company type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
By Designation: C level Executives: 35%,Director Level: 25%, and Others: 40%
By region: North America: 45%, Europe: 20%, APAC: 30%, and Rest of the World: 5%
Major vendors in the global quantum cryptography market include ID Quantique (Switzerland), QuintessenceLabs (Australia), NuCrypt (US), Qasky (China), Crypta Labs (UK), Qubitekk (US), Post-Quantum (UK), MagiQ Technologies (US), ISARA (Canada), QuNu Labs (India), QuantumCTek (China), Quantum Xchange (US), Aurea Technologies (France), qutools (Germany), Infineon (Germany), Mitsubishi Electric (Japan), IBM (US), HP (US), NEC (Japan), Toshiba (Japan), Microsoft (US), Raytheon Technologies (US), Crypto Quantique (UK), Qrypt (US) and Onboard Security (US).
Research Coverage:
The report includes an in-depth competitive analysis of the key players in the quantum cryptography market, along with their company profiles, recent developments, and key market strategies. The report segments the global quantum cryptography market by component (solutions and services), security type, vertical, and region.
Key Benefits of Buying the Report:
The report would help the market leaders/new entrants in the quantum cryptography market with the information on the closest approximations of the revenue numbers for the overall quantum cryptography market and sub segments. The report would also help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
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