Quantum Cryptography Market is expected to be worth US$ 126.45 Million in 2022 and is estimated to grow at a CAGR of 19.3% over the forecast period.
Quantum Cryptography Market Overview
Maximize Market Research has published a market intelligence report on the Quantum Cryptography Market. The report covers manufacturers, regions, types, applications, segments, and forecasts to 2029. It provides a comprehensive analysis of the Quantum Cryptography market, along with its ever-changing patterns, industry environment, and all dominant aspects of the market.
Quantum Cryptography Market Dynamics
In today’s science and technology-driven world, digitalization offers several opportunities to improve systems and processes across a range of industrial sectors. The proliferation of related devices is complicating the management of cyber risks and raising the frequency of undesirable cyber occurrences globally. As a result, cyberattacks are becoming more frequent and are increasingly directed at governments and businesses. Because of the widespread use of quantum cryptography and the fact that cyberattacks primarily target the United States, Turkey, Brazil, China, Pakistan, India, and Europe, these factors are causing the quantum cryptography market to grow.
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Quantum Cryptography Market Report Scope and Research Methodology
The Quantum Cryptography market report published by Maximize Market Research is a comprehensive analysis of the market, based on primary and secondary data collected through exhaustive research. The qualitative and quantitative data in the report are expected to help decision-makers determine which market segments and variables are driving the market.
The bottom-up approach was used to estimate the global and regional Quantum Cryptography market size. The report also includes a PESTLE analysis, which can help investors in the Quantum Cryptography industry develop strategies. Political factors can help investors understand how much a government is expected to influence the Quantum Cryptography market during the forecast period. Economic factors can help investors analyze the economic performance drivers that have an impact on the Quantum Cryptography market. Legal factors can help investors understand the impact of the surrounding environment and the influence of environmental concerns on the Quantum Cryptography market.
The report also provides insights into the competitive landscape of the global Quantum Cryptography market, so that investors can understand the competition at local, regional, and global levels. It covers all the key aspects of the Quantum Cryptography market, such as areas of operation, production, and product portfolio
Quantum Cryptography Market Regional Insights
The Quantum Cryptography market report includes a detailed analysis of market size, dynamics and market share in regions: North America, Europe, Asia Pacific, South America and Middle East and Africa.
Quantum Cryptography Market Segmentation
The market is divided into three categories according to application: network security trends, database encryption, and application security. Through the projected period, the Network Security Trends category is anticipated to expand at a CAGR of 7.4%. A quantum cryptography network solution is needed in order to guarantee networking and security testing. Network security is a process for guaranteeing the security and utility of the programs and information. Both hardware and software mechanisms make up its construction. Numerous industry lines of business, including government and defensive performance, healthcare, BFSI, general merchandise, and automobiles, have started using quantum cryptography networking solutions as a result of these secure influences of security breaches, causing data security to develop and thereby accelerating the growth of this market.
The market is divided into five categories according to vertical: retail, healthcare, automotive, banking and financial services, government and defense, and others. In 2022, the BFSI sector had the highest market share, accounting for 38% of total sales. It’s crucial to know details about a customer’s checking account and financial transactions. If this data is not adequately guarded, a security breach could cause a tremendous financial catastrophe. Banks and other financial organizations must safeguard their customers’ transactions and keep in touch with them. Every day, thousands of transactions involving millions of dollars occur between banks. This communication must adhere to strict security standards for identification, confidentiality, and consistency. Quantum cryptography may be used in this situation to provide extra secure communication, which is a key factor in this market’s expansion.
1. Global Quantum Cryptography Market Size, Application (2022-2029)
• Application Security
• Database Encryption
• Network Security Trends
2. Global Quantum Cryptography Market Size, Vertical (2022-2029)
• Government and Defense
• Banking and Financial Services
• Retail
• Healthcare
• Automotive
• Others
3. Global Quantum Cryptography Market Size, by Organization Size (2022-2029)
• SME’s
• Large Enterprises
Global Quantum Cryptography Market Size, by Component (2022-2029)
• Solutions
• Services
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Quantum Cryptography Key Players
1. ID Quantique SA
2. MagiQ Technologies Inc.
3. Nippon Telegraph and Telephone Corp.
4. Nucrypt LLC
5. Oki Electric Industry Company Ltd.
6. QuintessenceLabs Inc.
7. Raytheon BBN Technologies
8. SK Telecom
9. Universal Quantum Devices
10.Anhui Qasky Quantum Technologies
11.Qubitekk
12.qutools GmbH
13.Toshiba Corporation
14.International Business Machines (IBM) Corporation
15.Infineon Technologies AG
Key questions answered in the Quantum Cryptography Market are:
- What are the Quantum Cryptography market segments?
- What are the factors driving the Quantum Cryptography Market growth?
- What are the factors restraining the Quantum Cryptography Market growth?
- Which trends are expected to generate additional revenue for the Quantum Cryptography market growth?
- Who are the key players in the Quantum Cryptography industry?
- What growth strategies are the top players considering to increase their presence in the Quantum Cryptography Market?
Key Offerings:
- A Detailed Analysis of the Market Overview
- Market Share and Size
- Forecast by Revenue | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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