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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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Key Competitors in Quantum Cryptography Market:
- ID Quantique
- Quintessence Labs
- Anhui Qasky Quantum Technology
- PQ Solutions Limited
- MagiQ Technologies
- ISARA Corporation
- Quantum XC
- IBM Corporation
- Mitsubishi Electric Corporation and more
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.
Segmentation: Global Quantum Cryptography Market
- Consulting and Advisory
- Deployment and Integration
- Support and Maintenance
By Security Type
- Network Security
- Application Security
- Government and Defence
- Banking, Financial Services, and Insurance
- North America
- South America
- Asia Pacific
- 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
- The cost of implementation of this system is very high
- Shortage of technical expertise within the area of quantum cryptography & its technologies
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.