PUBLISHER: Roots Analysis | PRODUCT CODE: 1821515
PUBLISHER: Roots Analysis | PRODUCT CODE: 1821515
As per Roots Analysis, the global quantum cryptography market size is estimated to grow from USD 0.92 billion in the current year to USD 16.13 billion by 2035, at a CAGR of 29.72% during the forecast period, till 2035.
The opportunity for quantum cryptography market has been distributed across the following segments:
Type of Offering
Type of Security
Type of Service
Type of Component
Types of Deployment Protocol
Type of Industry
Company Size
Geographical Regions
Quantum Cryptography Market: Growth and Trends
Quantum cryptography represents an advanced technology that leverages the principles of quantum mechanics to secure communication systems. It functions by utilizing quantum states for information transmission, ensuring that any effort to intercept or monitor the communication disrupts the quantum state, thereby notifying the involved parties. This approach offers a highly secure method for safeguarding sensitive information, primarily through quantum key distribution (QKD), which produces encryption keys that are theoretically invulnerable due to the laws of quantum physics. The fusion of improved security and real-time monitoring capabilities is propelling significant growth in the market.
Protecting organizational data from cyber threats is an urgent requirement driving the expansion of the quantum cryptography market. The increase in cyber threats and criminal activities in cyberspace is also playing a role in this growth. Furthermore, rising privacy concerns about the protection of crucial data from cybercriminals, advancements in quantum cryptography, and the shift towards cloud-based quantum cryptography and other wireless networks are additional factors boosting the demand for quantum cryptography solutions. As a result, owing to the above mentioned factors, the quantum cryptography market is expected to grow significantly during the forecast period.
Quantum Cryptography Market: Key Segments
Based on type of offering, the global quantum cryptography market is segmented into quantum key distribution, quantum random number generation, and others. According to our estimates, currently, the quantum key distribution segment captures the majority of the market share. This can be attributed to its vital function in securing communications via the creation of encryption keys that are theoretically uncrackable.
However, the quantum random number generation segment is expected to grow at a higher CAGR throughout the forecast period, fueled by the rising need for secure random numbers in quantum cryptography and various industries.
Based on type of security, the global quantum cryptography market is segmented into application security, cloud security, database security and network security. According to our estimates, currently, the network security segment captures the majority of the market share. This can be attributed to the urgent need to safeguard communication networks against escalating cyber threats and attacks.
However, the on-premises deployment is expected to grow at a higher CAGR throughout the forecast period, due to the rising use of cloud computing services, which require enhanced security protocols to protect sensitive data stored within cloud environments.
Based on type of service, the global quantum cryptography market is segmented into consulting, deployment and integration, support and maintenance. According to our estimates, currently, the consulting services segment captures the majority of the market share. This can be attributed to the increasing complexity of quantum cryptographic solutions that necessitate specialized knowledge and consulting for successful implementation.
However, the deployment and integration sector is expected to grow at a higher CAGR during the forecast period. This surge is fueled by organizations acknowledging the urgent need for cybersecurity solutions utilizing quantum technology to protect sensitive information against advancing cyber threats, prompting greater and more active investments in deployment services.
Based on type of component, the global quantum cryptography market is segmented into hardware and software. According to our estimates, currently, the hardware segment captures the majority of the market share. This increase is linked to the rising demand for specialized devices like QKD systems, quantum random number generators, and photon detectors, all essential for secure quantum communications.
However, the software segment is expected to grow at a higher CAGR during the forecast period, owing to the growing requirement for effective quantum algorithms that improve security measures across various applications.
Based on type of component, the global quantum cryptography market is segmented into BB84 protocol, and TSL/SSL protocol. According to our estimates, currently, the BB84 protocol segment captures the majority of the market share, due to its foundational role in quantum key distribution.
However, the TLS/SSL protocol segment is expected to grow at a higher CAGR during the forecast period, driven by the increasing incorporation of quantum cryptography into established security frameworks, especially for protecting internet communications.
Based on type of industry, the global quantum cryptography market is segmented into BFSI, energy & utilities, government, healthcare, IT and telecom, manufacturing and retail and others. According to our estimates, currently, the healthcare segment captures the majority of the market share. This increase is linked to the effective solutions offered by quantum cryptography, which includes an exceptionally secure approach to safeguarding data from cyber threats, data breaches, and unauthorized access.
However, the government and defense sector is expected to grow at a higher CAGR during the forecast period, owing to the adoption of quantum cryptography, which ensures robust protection against cyber threats and espionage.
Based on company size, the global quantum cryptography market is segmented into large and small and medium enterprise. According to our estimates, currently, the large enterprise segment captures the majority of the market share. However, the small and medium enterprise segment is expected to grow at a higher CAGR during the forecast period, owing to their agility, innovative approaches, focus on specialized markets, and capacity to adapt to evolving customer needs and market trends.
Based on geographical regions, the quantum cryptography market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, North America captures the majority share of the market, driven by the complex and evolving cyber threats in this region, that is urging both government bodies and private organizations to pursue advanced measures to protect sensitive data.
Quantum Cryptography Market: Research Coverage
The report on the quantum cryptography market features insights on various sections, including:
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