Growing Need for Secure and Safe Communication Drives the Quantum Cryptography Market
Published: June 2017
- Code: MCP-1812
- Pages: 151
- Tables: 13
- Companies: 27
QUANTUM CRYPTOGRAPHY: A RESEARCH BRIEF
The global market for Quantum Cryptography (QC) is forecast to reach US$2 billion by 2024, driven by the growing need for secure and safe data transmission through networks against the backdrop of increasing number of frauds. Increasing adoption of QC solutions for e-government initiatives, increased focus on making available online options for utility-bill payments across many countries, and increase in online banking activities will drive future growth in the market. Adoption is forecast to be especially high among medium and small-size businesses (SMBs). Although currently far from becoming a mainstream method of securing data networks, continuous technology innovations promise to help QC replace existing security solutions for data hacking over the long-term period. The United States represents the largest market worldwide, supported by increasing number of insider frauds across different types of organizations; increasing frequency and intensity of cyberattacks; and growing prominence of web-based businesses in the BFSI and healthcare sectors. Asia-Pacific ranks as the fastest growing market led by China. The country is making rapid strides in the field of quantum information and QKD supported by substantial funding from the domestic government.
- The Goal of Developing Virtually Uncrackable Encrypted Information Drives R&D Interest in Quantum Cryptography
- Industry Focus Centers on Developing Interoperable Quantum Crypto Systems to Ensure Widespread Adoption
- The Expanding Internet of Things (IoT) Ecosystem Drives Strong Growth Opportunities for Quantum Cryptography
- Shift to Long Distance Communication Link Over Point-to-Point Link Expands Addressable Market Opportunities
- Lack of Effective Data Encryption Mechanisms on Personal Devices Creates Huge Demand for QC in the Enterprise Sector, Especially Against the Backdrop of the Rising BYOD Trend
Summary of Findings
- Market Estimates and Forecasts for 2016-2024
Timeline for Analysis
- US, Europe, Asia-Pacific, and Rest of World
Geographic Markets Analyzed
- ID Quantique SA
- MagiQ Technologies, Inc.
- Nippon Telegraph and Telephone Corp.
- Nucrypt LLC
- Oki Electric Industry Company Ltd.
- QuintessenceLabs, Inc.
KEY RESEARCH DELIVERABLES
- Review of Industry/Market Structure
- Analysis of Trends & Drivers
- Insights on Macro Market Scenarios
- Market SWOT Analysis
- Latent Demand Forecasts & Projections
- Comprehensive Geographic Market Analysis
- Presentation Ready Facts & Statistical Data Findings
- Coverage of Major/Niche Players, Market Shares & Competition
- Coverage of major Company/Technology/Product/Financial Stories
- Extensive Product/Service/End-Use/Technology Coverage Where Applicable