Market Research Report
Global Quantum Cryptography Market Size study, by Offering by Application by End User and Regional Forecasts 2020-2027
|Published by||Bizwit Research & Consulting LLP||Product code||943661|
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|Global Quantum Cryptography Market Size study, by Offering by Application by End User and Regional Forecasts 2020-2027|
|Published: June 5, 2020||Content info:||
Global Quantum Cryptography Market Size study, by Offering (Solutions, Services) by Application (Network Security, Application Security, Database Security) by End User (IT & Telecommunications, BFSI, Government & Defense, Healthcare, Others) and Regional Forecasts 2020-2027.
Global Quantum Cryptography Market is valued approximately at USD 142.53 million in 2019 and is anticipated to grow with a healthy growth rate of more than 38.2% over the forecast period 2020-2027. Quantum Cryptography incorporates the application of physics data with an objective to develop a cryptosystem that is not easily exploitable. It is an type of coding in which the program writer coverts math to physics for higher security reasons. Quantum cryptography aims at the fortification of data or the valuable information of the association from hackers or code breakers. Quantum Key distribution (QKD) is an enormously popular cryptographic application. It includes encoding and sending the needed information for decryption. The Quantum cryptography market is chiefly driven owing to surging cyber-attacks incidents in the trending era of digitalization and escalating cyber security funding by both public and private organizations. As in March 2018, SamSam ransomware cyberattack was activated in Atlanta, US. The cyberattack consisted guesstimating weak passwords and encrypting files leading to data leakage and financial losses. Hence the rising cases of cyberattacks drive the market towards growth. Also, as in April 2020, the government of India, collaborated with the Data Security Council of India (DSCI) to establish a national center of excellence with an aim to increase innovation in the Indian cybersecurity market. Furthermore, rising demand for next-gen security solutions and surging need for integrations solutions in the business world fuels the market growth. However, lack of skilled expertise impedes the growth of the market over the forecast period of 2020-2027.
The regional analysis of global Quantum Cryptography market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the high adoption of advanced technology in the region coupled with increased demand for high security and integrated solutions. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising digitalization coupled with increasing investments in increasing security would create lucrative growth prospects for the Quantum Cryptography market across Asia-Pacific region.
Major market player included in this report are:
ID Quantiques SA
Anhui Qasky Science and Technology Ltd
Quintessence Labs Pty Ltd.
1QBit Information Technologies
River Lane Research
Interuniversity Microelectronics Centre (Imec)
Aliyun / Alibaba Cloud
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By End User:
IT & Telecommunications
Government & Defense
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2017, 2018
Base year - 2019
Forecast period - 2020 to 2027
Target Audience of the Global Quantum Cryptography Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers