According to Data Bridge Market Research new Market report, global quantum cryptography market will account to an estimated USD 102.56 million in 2018 growing at a CAGR of 38.06% during the forecast period of 2019 to 2026.
Access Full Report at https://databridgemarketresearch.com/reports/global-quantum-cryptography-market/
Quantum cryptography can be defined as the process of enhancing the cyber security of servers and online computing systems by encrypting the data being shared with two individual users with a unique passkey and sharing the same. This process also helps in detection and isolation of any external party or third-users if they access the message or data.
Global quantum cryptography market is segmented on the basis of component, service, security type, vertical and geography.
By Component (Solutions, Services), Service (Consulting and Advisory, Deployment and Integration, Support and Maintenance), Security Type (Network Security, Application Security), Vertical (Government and Defence, Banking, Financial Services, and Insurance, Retail, Healthcare, Automotive, Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
FACTORS DRIVING GROWTH IN QUANTUM CRYPTOGRAPHY MARKET
Increasing threats of cyber attacks
With the advent of IoT and cloud-based computing, there have been an increasing number of cyber-attacks globally, with this number growing with every passing day. This growth in the number of cyber-attacks has raised the levels of concern for protection and the need for better protection from these threats.
This factor is expected to act as a major driver for the growth of the global quantum cryptography market.
Few of the major competitors currently working in the quantum cryptography market are ID Quantique, QuintessenceLabs, NuCrypt, Anhui Qasky Quantum Technology Co. Ltd., PQ Solutions Limited, MagiQ Technologies, ISARA Corporation, Quantum XC., Aurea Technologies Inc, IBM Corporation, Infineon Technologies AG and Mitsubishi Electric Corporation.
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