Allied Market Research

2024

Quantum Cryptography Market

Quantum Cryptography Market Size, Share, Competitive Landscape and Trend Analysis Report by Component, by Security Type, by Industry Vertical and by   Organizational Size : Global Opportunity Analysis and Industry Forecast, 2023-2032

IC : Software and Services

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Author's: | Onkar Sumant
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Quantum Cryptography Market Statistics: 2027

Quantum cryptographyalso known as quantum encryption applies principles of quantum mechanics to encrypt messages in a way that it is never read by anyone outside of the intended recipient. It takes advantage of quantum’s multiple states, coupled with its "no change theory," which means it cannot be unknowingly interrupted. It is a technique of using photons to generate a cryptographic key and transmit it to a receiver using a suitable communication channel.

Quantum cryptographyis virtually un-hackable, simple to use, and does not require anyresources to maintain it. In addition, it is also used to detect monitorin quantum key distribution, because the fact that it is not possible to copy the data encoded in quantum state. It also secures communication by providing security based on fundamental law of physics instead of mathematical algorithms.

https://www.alliedmarketresearch.com/assets/sampleimages/quantum-cryptography-market-1607938495.png

COVID-19 scenario Analysis:

1.The emergence of COVID-19 pandemic has severely affected almost all industries across the world. Further, lockdown enforcements and restrictions on movements of non-essential goods as well as resources in various countries has disrupted supply chain of electronic components & networking equipment. Thus, this has led to delay in supply of electronic components required in manufacturing of network equipment.

2. The outbreak of COVID-19 forced industrial vertical to shift their working to work from home and major of work force started to work remotely.This has created more awareness about cyber security in businesses and positively affects the quantum cryptography industry.

3. The global pandemic is just the latest hurdle along an already obstacle-littered path for the quantum computing industry. While researchers have long touted potential paradigm-shifting nature of quantum technology has never promised short-term returns.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Growth in number of cyber-attacks, rise in cyber security funding, increase in demand for next generation security solutions due to rise in penetration of cloud, and IoTdrive growth of the quantum cryptography market. However, lack of expertise and high cost hinders growth of the market. Furthermore, increase in awareness about cyber security among industrial vertical and users creates growth opportunity for the quantum cryptography market globally.

Rise in adoption of quantum cryptographyfor high cybersecurity:

Quantum cryptography is based on the concept of photons. It uses movement of photon to detect cyber-attack while data transfer. Sudden change in movement and position of photon indicates threats and takes replay action by alerting security system immediately.

High cost

Deployment cost of quantum cryptography is quite expensiveas it requires its own infrastructure,which hinders growth of the quantum cryptography market. In addition,it works over fairly short distances and to increase distance installation of repeaters and channels between source and destination is neccssary,which further increases its cost.

Key benefits of the report:

  • This study presents the analytical depiction of the global quantum cryptography industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis ofglobal quantum cryptography marketshare.
  • scenario.marketgrowthThe current quantum cryptography market is quantitatively analyzed to highlight the global quantum cryptography
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides detailedquantum cryptography market analysis based on competitive intensity and how the competition will take shape in coming years.

Quantum Cryptography Market Report Highlights

Aspects Details
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By   Organizational Size
  • Small & Medium Enterprise
  • Large Enterprise
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By Component
  • Solution
  • Service
  • Solutions
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By Security Type
  • Application Security
  • Network Security
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By Industry Vertical
  • IT & Telecom
  • BFSI
  • Healthcare and life science
  • Healthcare
  • Automotive
  • Retail
  • Government & Defense
  • Others
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By Region
  • North America  (U.S., Canada)
  • Europe  (Germany, UK, France, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

Toshiba Corp., NEC Corp., MagiQ Technologies, Inc, IBM Corp., Anhui Qasky Science and Technology Ltd, Microsoft Corp., Infineon Technologies, Accenture Corp., PQ Solutions, NuCrypt LLC

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Quantum Cryptography Market

Global Opportunity Analysis and Industry Forecast, 2023-2032