Increased Cyber Crimes and Threats Fuelling the Growth of Quantum Cryptography Market
According to a new report published by Reports Monitor titled, “Global Quantum Cryptography Market, Growth Opportunities, Innovations and Forecast, 2017-2025,” the Quantum Cryptography market was valued at XX million in 2017, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Quantum cryptography, the term refers it primarily focuses on physics rather than mathematics for its key operations. The proposed technology depends on individual particles of light also known as photon, for the development of effective cryptosystem which cannot be defeated. Rapid increase in the number of cyber-attacks has initiated the demand for an effective security solution that allows the prevention of data loss thereby avoiding the economic losses. However, lack of awareness and skilled expertise is mainly restraining the market growth.
This report provides a detailed analysis of Quantum Cryptography market, which includes current industry situations such as market size, growth and demands, market outlook, major players with their key strategies such as investment, mergers and acquisitions, value chain analysis and swot analysis. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth analysis along with important inputs from the various industry experts. The research is carried out with both extensive primary and secondary data sources with bottom-up and top-down approaches.
The quantum cryptography market is segmented on the basis of components used, organization size and industry vertical. Based on the component used the market is bifurcated into: hardware and services. Further the hardware components are segmented into: server, blade, research and development and random number generator. The service is further segmented into: consulting, deployment and integration and maintenance. Depending upon the size of the organization the market is segmented into: small and medium enterprise and large enterprise. Quantum cryptography is adopted in various sectors such as: banking and finance, IT and Telecom, Manufacturing and Retail. IT and Telecom sector holds for the largest market share owing to the increasing number of cyber-attacks and security concerns.
The regional analysis of global Quantum Cryptography market comprises the study across: North America, Europe, Asia Pacific and LAMEA. North American quantum cryptography market is mainly driven owing to the continuous research and development by the prominent players thereby contributing in the production of efficient solutions against cyber threats. Increased adoption of cloud based services also forms the significant factor in the market expansion. Asia Pacific region is mainly influenced by the emerging cloud based services in the countries such as China, India and Japan. Expansion in the IT and Telecom sector also contributes as a significant factor in the market growth.
The key players in the quantum cryptography market are: Id Quantique , Magiq Technologies , Quintessencelabs , Nucrypt , Qutools , Qasky , Crypta Labs , Qubitekk , PQ Solutions , Infineon.
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