Global Quantum Cryptography Market, By Component (Hardware, Software, Services), Algorithm Type (Symmetric Key, Asymmetric Key), Enterprise Size (Small and Medium Enterprise (SMEs), Large Enterprise), Encryption Type (Network Encryption, Database Encryption, Application Security, Cloud Encryption), Deployment Protocol (TSL/SSL Protocol, BB84 Protocol), Application (Simulation, Optimization, Sampling), Vertical (Government, Healthcare, Automotive, Manufacturing, Banking, Financial Services and Insurance (BFSI), IT and Telecom, Defence, Education, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Quantum cryptography market is expected to reach USD 2587.70 million by 2028 witnessing market growth at a rate of 38.10% in the forecast period of 2021 to 2028. Data Bridge Market Research report on quantum cryptography market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
To build a cryptosystem, quantum cryptography relies more on contemporary knowledge of physics. In order to accomplish cryptographic tasks, quantum cryptography can be described as the manipulation of quantum mechanical properties. The main advantage of quantum cryptography lies in the claim that it makes it impossible to infer several cryptographic tasks that are verified or hypothesised using only non-quantum communication modes.
Increasing demand for next-generation security solutions for cloud and internet of things technologies, surging levels of investment for the growth of the cybersecurity market, rising number of cyberattack in the era of digitalization, evolution of next generation wireless network technologies, growing software firms globally, especially in developing countries are some of the major as well as vital factors which will likely to augment the growth of the quantum cryptography market in the projected timeframe of 2021-2028. On the other hand, rising need for integration solutions along with increasing demand for security solutions across industry verticals which will further contribute by generating massive opportunities that will lead to the growth of the quantum cryptography market in the above mentioned projected timeframe.
Increasing cost of implementation along with lack of expertise which will likely to act as market restraints factor for the growth of the quantum cryptography in the above mentioned projected timeframe. Commercialization of cryptography along with technical as well as implementation issues which will become the biggest and foremost challenge for the growth of the market.
This quantum cryptography market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on quantum cryptography market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Quantum Cryptography Market Scope and Market Size
Quantum cryptography market is segmented on the basis of component, algorithm type, enterprise size, encryption type, deployment protocol, application and vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Quantum cryptography market on the basis of component has been segmented as hardware, software, and services. Hardware has been further segmented into server, blade, R&D platform, and random number generator. Software has been further segmented into encryption, transmission, post-quantum cryptography, and crypto libraries. Services have been further segmented into consulting services, integration and deployment services, and support and maintenance services.
- Based on algorithm type, the quantum cryptography market has been segmented into symmetric key, and asymmetric key.
- On the basis of enterprise size, the quantum cryptography market has been segmented into small and medium enterprise (SMEs), and large enterprise.
- Based on encryption type, the quantum cryptography market has been segmented into network encryption, database encryption, application security, and cloud encryption.
- On the basis of deployment protocol, the quantum cryptography market has been segmented into TSL/SSL protocol, and BB84 protocol.
- On the basis of application, the quantum cryptography market has been segmented into simulation, optimization, and sampling.
- Quantum cryptography has also been segmented on the basis of vertical into government, healthcare, automotive, manufacturing, banking, financial services and insurance (BFSI), IT and telecom, defence, education, and others. Others have been further segmented into energy and utilities, and logistics.
Quantum Cryptography Market Country Level Analysis
Quantum cryptography market is analysed and market size, volume information is provided by country, component, algorithm type, enterprise size, encryption type, deployment protocol, application and vertical as referenced above.
The countries covered in the quantum cryptography market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America will dominate the quantum cryptography market due to the high adoption of encryption-based applications along with growing IT management complexity, and the increasing need for data privacy and security in the region while China will expect to grow in the Asia-Pacific quantum cryptography market during the forecast period of 2021-2028 due to the surging levels of investment by the government in the area of encryption and data security.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Quantum Cryptography Market Share Analysis
Quantum cryptography market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to quantum cryptography market.
The major players covered in the quantum cryptography market report are ID Quantique; QuintessenceLabs.; Crypta Labs; Anhui Qasky Quantum Technology Co. Ltd.; QUBITEKK; ISARA Corporation; PQ Solutions Limited.; QuantumCTek Co., Ltd.; MagiQ Technologies; NuCrypt; Quantum Xchange.; Aurea Technology; qutools GmbH; Qunu Labs Pvt.LTD; Infineon Technologies AG; Mitsubishi Electric Corporation; IBM Corporation; Hewlett-Packard Development Company, L.P.; NEC Corporation; TOSHIBA CORPORATION; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Quantum Cryptography Market
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