As per this study the Global Quantum Cryptography Market was valued USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2027 with a CAGR of XX%.
Quantum cryptography is a technique to encrypt messages in order to hide it from outside of the intended recipients. It is a method for secret communications that provides ultimate security assurance. Quantum cryptography uses quantum mechanical principles for encryption techniques. For such cryptography, a quantum computer is required to encrypt or decrypt the data. Owing to such encryption methods, quantum cryptography techniques are widely used in banking and financial services, where a greater risk of cyber-attacks and such threats may occur. Also in government and defense, insurance, healthcare, and other services, these techniques are commonly used.
The increasing incidences of cyber-attacks in online banking & financial services along with high penetration of internet services is augmenting the growth of quantum cryptography market. Additionally, rising demand for next-generation security solutions like quantum cryptography, which is used to secure confidential data and others, is further fueling the market growth. On the downside, lack of basic expertise and high implementation cost is expected to hinder market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of quantum cryptography.
The broad quantum cryptography market has been sub-grouped into component, service, security type, and vertical. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Security Type
- Consulting and Advisory
- Deployment and Integration
- Support and Maintenance
- Network Security
- Application Security
- Government and Defense
- Banking, Financial Services, and Insurance
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for quantum cryptography in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Quantum Cryptography Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the quantum cryptography market include Crypta Labs, ID Quantique, Isara, Magiq Technologies, Nucrypt, Post-Quantum, Qasky, Quantumctek, Qubitekk, Quintessencelabs, and others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.