Global Quantum Cryptography Market: A Reliable Way to Protect the Sensitive Data and Information

Global Quantum Cryptography Market

Quantum Cryptography or quantum encryption pertain quantum mechanics principles to encrypt messages in such a way that no one outside the intended recipient will ever read them. This is way more different than the traditional cryptographic systems as they are more dependent on physics rather than mathematics. The benefit of quantum cryptography lies in the reality that by using only classical communication, it enables the completion of multiple cryptographic assignments that are proven or conjectured to be impossible. Quantum cryptography enables two parties to transmit the secret key to encrypt and decrypt the signal between sender and receiver. Quantum cryptography enables to detect the existence of any third party in the communication between the two communicating sides.  Quantum cryptography is virtually unhackable and is easy to use as well.

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Some of the factors responsible for the growth of this market are as follow:

  • Increasing demand for security solutions of IoT & cloud technologies:  Today, manufacturer of IoT devices are creating number of smart products which are connected to the internet so they can make the daily lives of the consumers easy and better. But, IT Security Professionals consider it ineffective and too dangerous because of IoT Devices ' privacy problems and information safety problems. To protect their data and other sensitive information security and risk professionals are using security solutions. This security solution has the ability to secure the IoT devices, authenticate the IoT devices, uses IoT data encryption to protect data and information, develop IoT apps and others
  • Increasing need for reducing cyber-attacks in this growing era of digital crime: With the growing use of digital technologies such as the big data, cloud, mobile, artificial intelligence and IoT in company and society and the growing integration of everything, their is higher safety, enforcement and information privacy difficulties . This change to a tech-centered culture implies that individuals are at a much greater cyber-attack danger. Cyber-attacks can affect the overall position of the company and can also harm their reputation in the market.  Many of these smaller companies lack the budget and abilities needed to correctly protect their online or point-of-sale environments. It is important to protect data efficiently so the information and data should be kept securely within the organization

The global quantum cryptography market is segmented on the basis of component which is further sub segmented as solutions and services; service is further divided as consulting and advisory, deployment and integration, support and maintenance; security type is divided as network security and application security and vertical is divided into government and defense, banking, financial services, and insurance, retail, healthcare, automotive and others

Some of the acquisitions and launches in the market are as follows:

  • In February 2018, SK Telecom announced the acquisition of ID Quantique so the company can provide security in the hyper- connected 5G era. The company is also planning to develop their quantum cryptography satellite technology by 2022. This acquisition will also help the SK Telecom expand their business and strengthen their position 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

“According to Data Bridge Market Research, Global Quantum Cryptography Market is set to witness a healthy CAGR of 38.06% in the forecast period of 2019- 2026”

Few of the major competitors currently working in 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.

Quantum cryptography uses the characteristics of quantum physics so they can store data on the layer of the physical network. They are unbreakable and have the ability to keep the users all personal information safely and securely. One of the most important advantages of quantum cryptography is that no one can steal any data or information which is shared between any users.  These are some of the factors which are creating new opportunities for this market.