Quantum cryptography is the science of exploiting quantum mechanical properties to perform cryptographic tasks. The best known example of quantum cryptography is quantum key distribution which offers an information-theoretically secure solution to the key exchange problem. The advantage of quantum cryptography lies in the fact that it allows the completion of various cryptographic tasks that are proven or conjectured to be impossible using only classical (i.e. non-quantum) communication. For example, it is impossible to copy data encoded in a quantum state. If one attempts to read the encoded data, the quantum state will be changed (no-cloning theorem). This could be used to detect eavesdropping in quantum key distribution.
Market Analysis: Global Quantum Cryptography Market is driven by rise in funding of cyber security, which is projecting a rise in estimated value from USD 102.56 million in 2018 to an estimated value of USD 1353.70 million by 2026, registering a CAGR of 38.06% in the forecast period of 2019-2026.
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Market Definition: Quantum cryptography can be defined as applicability of physics in cyber security models. Quantum cryptography allows sharing the secret key within two parties to encrypt & decrypt the message between sender & receiver. Quantum cryptography helps in detecting the presence of any third person within the communication between the two concerned parties who are communicating.
Key Players: Global Quantum Cryptography Market
Few of the major competitors currently working in quantum cryptography market are
- ID Quantique
- Anhui Qasky Quantum Technology Co. Ltd.
- PQ Solutions Limited
- MagiQ Technologies
- ISARA Corporation
- Quantum XC.
- Aurea Technologies Inc
- IBM Corporation
- Infineon Technologies AG
- Mitsubishi Electric Corporation
- Increasing demand for security solutions of IoT & cloud technologies as these are being used by every data company
- Increasing need for reducing cyber-attacks in this growing era of digital crime
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Complete and distinct analysis of the market drivers and restraints, Key market players involved in this industry, Detailed analysis of the market segmentation, Competitive analysis of the key players involved
- The cost of implementation of this system is very high
- Shortage of technical expertise within the area of quantum cryptography & its technologies
Segmentation: Global Quantum Cryptography Market
- By Component
- By Service
- Consulting and Advisory
- Deployment and Integration
- Support and Maintenance
- By Security Type
- Network Security
- Application Security
- By Vertical
- Government and Defence
- Banking, Financial Services, and Insurance
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Competitive Analysis: Global quantum cryptography market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of quantum cryptography market for global, Europe, North America, Asia Pacific and South America.
Key Developments in the Market:
- In October 2018, ID Quantique & InfoSec Global collaborated together for providing virtual private network (vpn) which is quantum safe. this particular technology has been developed by combining the quantum random number generator technology of id quantique & cryptographic agility of infosec global
- In September 2018, high-speed quantum cryptographic communications have been successfully applied at Ohoku University by tohoku medical megabank organization & Toshiba Corporation. It is world’s first cryptographic communications with over 10 mbps speed.