Global Quantum Cryptography Market Forecast (2018-2025) Report Manufacturers : QuintessenceLabs, QuantumCTek, ID Quantique, Quantum Xchange
As per the report published by Fior Markets, the global quantum cryptography market
is expected to grow from USD 107.02 Million in 2017 to USD 759.51
Million by 2025 at a CAGR of 39.61% during the forecast period from
2018-2025. North America region held the largest market share due to
increasing cyber-attacks, presence of major players, higher adoption of
encryption-based application, and rapid technological advancements.
Global Quantum Cryptography Market by Component (Solutions,
Services), Services (Consulting and Advisory, Deployment and
Integration, Support and Maintenance), Vertical, Application, Region and
Global Forecast 2018-2025.
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Prominent companies in the industry include QuintessenceLabs,
QuantumCTek, ID Quantique, Quantum Xchange, Crypta Labs, Qubitekk,
Post-Quantum, Aurea Technologies, qutools, Infineon, Mitsubishi
Electric, IBM, NuCrypt, Qasky, MagiQ Technologies, ISARA, QuNu Labs, HP,
NEC, Toshiba, and Microsoft. The ID Quantique, QuintessenceLabs,
NuCrypt, Qasky, and Crypta Labs are offering greater opportunities and
major players are continuously focused on new product developments and
venture capital investments to obtain market share. For instance,
InfoSec Global entered into collaboration with ID Quantique for offering
quantum safe Virtual Private Network (VPN). This VPN integrates InfoSec
Global‘s cryptographic agility and ID Quantique’s Quantis Quantum
Random Number Generator (QRNG) for generating encryption in single
device.
Component segment covers solutions and services. The solutions
segment dominated the market with market share of 56.83% in 2017 due to
increasing need to encrypt critical information without any leakage.
Services segment includes consulting and advisory, deployment and
integration, and support and maintenance. The deployment and integration
segment valued around USD 39.43 Million in 2017 owing to demand for
point-to-point safety and storage networks for durable data protection.
Vertical segment is divided into government and defense, BFSI, retail,
healthcare, automotive, IT and telecom, and others. IT and telecom
segment dominated the market with the market size of USD 24.73 Million
in 2017. This increasing industry size was due to necessity for secured
network owed to network vulnerabilities and privacy concerns.
Application segment is segmented into database encryption, application
security, and network security. Network security segment is anticipated
to grow with highest CAGR 41.67% over the forecast period. Here,
contributing factors are demand for integrity and usability of networks,
prevention and misuse due to unauthorized access, and denial of
network-accessible resources.
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Rising cyber-attack occurrences due to growing digitalization,
increasing cyber security investments, rising usage of cloud and IoT
technologies has increased need for next-generation security solutions
are key driving factors to lead the market in couple of years. In
addition, sprouting next-generation wireless network technologies will
supplement the market growth. However, high cost and lack of expertise
and awareness about the quantum cryptography may limit the growth of
market. However, flourishing demand for security solutions across
industry verticals and maturing need for integration solutions
challenges is expected to boost the quantum cryptography market over the
forecast period.
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