With the emergence and long-term Impact of COVID-19, Global Quantum Cryptography Market to reach USD 473.50 Million by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Quantum Cryptography Market points towards a potential rise to USD 473.50 Million by 2030. Quantum cryptography is a field of study and technology that leverages the principles of quantum mechanics to provide secure communication between two parties. It aims to ensure the confidentiality and integrity of information exchanged over a communication channel. The market growth is driven by key factors including increasing government funding for cybersecurity, surging demand for next-generation security solutions for cloud and IoT technologies and evolving next-generation wireless network technologies.
Geographically, the global Quantum Cryptography market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the growing cybersecurity funding, high demand for next-generation security resolutions for cloud and IoT technologies, the evolution of wireless network technologies, and multiple partnerships and collaborations to promote and develop apprenticeship programs. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. rising incidents of cyber-attacks with acceleration in digitalization, supportive government regulations for data security, growing trend of the Internet of Things (IoT), as well as emerging Quantum Key Distribution (QKD) solutions are significantly propelling the market demand across the region.
The global Quantum Cryptography market is highly competitive owing to the presence of several key players such as QuintessenceLabs. (Australia) Quside Technologies (Spain) MagiQ Technologies (U.S.) Toshiba Digital Solutions Corporation (Japan) QNu Labs Private Limited. (India) KETS QUANTUM SECURITY LTD. (U.K.) LuxQuanta Technologies S.L. (Spain) Quantum Xchange. (U.S.) ID Quantique (Switzerland) Qrypt (U.S.), and others.
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Key findings of the study suggest:
- Global Quantum Cryptography Market is anticipated to grow with a healthy growth rate of more than 19.8% over the forecast period 2023-2030.
- In the Type segment, Quantum Key Distribution emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth the growing cybersecurity funding, high demand for next-generation security resolutions for cloud and IoT technologies, the evolution of wireless network technologies, and multiple partnerships and collaborations to promote and develop apprenticeship programs.
- Asia Pacific is expected to grow at higher rate followed by Europe during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By Type:
- Quantum Key Distribution
- Quantum Random Number Generation
- Others
By Security Type:
- Application Security
- Network Security
By Industry:
- BFSI
- Cloud & Datacentre
- Government
- Energy & Utilities
- Healthcare
- Automotive
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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