Market Overview
According to Market Research Future Analysis, the global Quantum Cryptography market is estimated to generate revenue of approximately USD 640 million by 2023 growing at a CAGR of 14% during the forecast period 2017-2023. According to the report, the key drivers of this market include increasing data security, privacy concerns, and rise in adoption of cloud storage & computing technologies. The global quantum cryptography market is expected to emerge as a lucrative market due to rising demands for security solutions across verticals.Quantum Cryptography market is estimated to exhibit high growth potential during the forecast period owing to its increasing demand across various industry verticals. Increasing data security and privacy concerns is driving the growth of the market.
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Companies such as Nucrypt, Crypta Labs, Qutools, and Magiq Technologies are some of the major players in the global Quantum Cryptography market. Nucrypt develops technologies for emerging applications in metrology and communication. The company produces and manufacture electronic and optical pulsers. Crypta Labs deals in application security for devices. The company deals in Quantum Random Number Generator products and solutions and Internet of Things (IoT). The major sectors company looks at is transport, military and medical. The company Qutools develops Smart tools for quantum optics. The company deals in quantum information products which include quantum cryptography systems.
The growing trend of Bring your own device (BOD) is a factor favoring growth for the market. However, lack of skills and expertise needed hampers the market growth. The gaining popularity integrated solutions is expected to expected to create lucrative opportunities for the market.
The global quantum cryptography market has been segmented on the basis of service, application, vertical, and component. The application segment is classified into database encryption, application security and network security. The network security segment is expected to hold the major share of the market owing to the evolution of next generation wireless network technologies.
Market Segmentation
The global quantum cryptography market can be segmented on the basis of service, application, vertical, component and end user. The vertical segment is further segmented into banking and financial services, consumer goods and retail, government and defense, IT and telecom, healthcare and life sciences. The increased amount of data in the BFSI and need to increase the security and privacy is expected to drive the market.
Key Players
The key players in the global quantum cryptography market are Crypta Labs (UK), Infineon (Germany), Magiq Technologies (USA), NEC Corporation (Japan), Nucrypt Llc (USA), PQ Solutions (UK), Qubitekk (USA), Quintessencelabs (Australia), qutools GmbH (Germany), and Toshiba (Japan).
Latest Industry News
The UK’s first quantum network has been launched in Cambridge. This network enables “unhackable” communications that have been, made secure by the laws of physics. 13 JUNE 2018
Startup Quantum Xchange announced that with the new funds worth US $10 mn received via seed funding, it would be launching the first-ever quantum fiber optic network in the USA. This network has been designed to protect data in transmission from attacks powered by quantum computers. The new fiber optic quantum network will be used to power the company’s commercial Quantum Key Distribution service that has been designed to address the shortcomings of present-day encryption standards. 26 JUNE 2018
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
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
Table4 Asia-Pacific Quantum Cryptography Market: By Country, 2017-2023
Table5 Middle East & Africa Quantum Cryptography Market: By Country, 2017-2023
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LIST OF FIGURES
FIGURE 1 Global Quantum Cryptography Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Quantum Cryptography Market
FIGURE 4 Value Chain Of Global Quantum Cryptography Market
Continued…
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