Quantum Cryptography for the Future Internet and the Security Analysis
The global quantum cryptography market accounted at US$ 105.3 Mn in 2018 and is expected to reach US$ 1,996.1 Mn by 2027 with a CAGR growth rate of 39.2% in the forecast period from 2019 to 2027.
Currently, technology’s advanced solutions are helping technology companies across the globe to accelerate their digital transformation adoption. From the last few years, the technology industry observed high growth and a dramatic increase worldwide. Factors such as IT spending, economic growth, and technological innovations influence the technology industry significantly. The global economy is expected to stabilize and grow at a steady speed during the forecast period, mostly driven by developing economies such as China, India, and Brazil.
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Top Key Players:
- ID Quantique
- Infineon Technologies
- Magiq Technologies
- IBM
- NuCrypt
- Anhui Qasky Quantum Technology Co. Ltd.
- Qubitekk
- Quintessence Labs
- Qutools GmbH
- Toshiba Corporation
The quantum cryptography market players are also investing substantial amounts and man-hours in research & development activities to develop robust solutions and services. The companies operating in the quantum cryptography are partnering with different other companies, research laboratories, and governments to develop and implement their solutions to safeguard data from leakage.
The governments of different countries across the globe as well as various private organizations are significantly investing in cybersecurity. This is majorly attributed to secure critical data from unauthorized individuals while transferring. The enhanced security solutions offered by the market players including Quantum Key Distribution (QKD), virtual encryptor, quantum cryptography communication device and Quantum Random Number Generator (QRNG) among others facilitate in strongly encrypting critical data. This factor is attracting several governments and industries to invest in such advanced technology. Thus, the rising investment towards cybersecurity solutions is a key catalyzer for quantum cryptography market.
Source: The Insight Partners