Quantum Cryptography - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Quantum Cryptography Market is accounted for $137.16 million in 2019 and is expected to reach $1,586.42 million by 2027 growing at a CAGR of 35.8% during the forecast period. Some of the key factors propelling the market growth include 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, high implementation cost and lack of expertise are identified as key factors hindering the market growth.
Quantum cryptography is a science of exploiting the quantum and using current physics knowledge in order to implement a cryptography system that is able to prevent any types of attacks on data. It is used to securely send data over network, wherein if quantum cryptography is applied to a particular data that needs to be being transferred, then only sender and receiver of data are able to access that data with the help of special key. Quantum cryptography is different as compared to traditional cryptography method, as quantum cryptography is more dependent on physics, instead of mathematics.
By security type, the network security application is anticipated to grow at the significant rate in the quantum cryptography market. The recent advances in technology have a widespread effect on the network infrastructure worldwide. This development has given a boom to the e-commerce sector, as there are a growing number of customers adopting digital shopping solutions and generating a vast amount of network traffic. Moreover, the growing trend of remote access security and wireless communication has resulted in growth in the adoption of quantum cryptography, aiming toward protecting the integrity of networks.
On the basis of geography, North America region is expected to have considerable market growth during the forecast period, due to the rising demand for IT and cloud services, advancements in communication networks, and a rise in the number of cyber threats. To meet the rising demand for wireless network carriers, the U.S. officials have invested over the last two decades in their wireless capital expenditure to build the mobile networks. Furthermore, an increasing requirement for encryption-based applications and an enhanced adoption of connected devices including IoT and BYOD are driving the industries in North America to implement quantum cryptography solutions.
Some of the key players in quantum cryptography market include NEC, Toshiba, Microsoft, Quantum Xchange, Aurea Technology, Qutools, Mitsubishi Electric, IBM, HP, Qubitekk, ISARA Corporation, Post-Quantum, Qunu Labs, Infineon, Quantumctek, Magiq Technologies, Nucrypt, ID Quantique, Quintessencelabs, and Crypta Labs.
• Quantum Cryptography Appliances
Security Types Covered:
• Application Security
• Network Security
• Database Encryption
• Cloud Encryption
End Users Covered:
• Healthcare and Life Sciences
• Government and Defense
• Retail & E-Commerce
• Other End Users
Organization Sizes Covered:
• Large Enterprises
• Small and Medium Enterprises
• Governing and Regulatory Bodies
Algorithm Types Covered:
• Asymmetric key
• Symmetric key
Deployment Protocols Covered:
• BB84 protocol
• TSL/SSL protocol
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.