Quantum Cryptography Market Size, Share and Global Trend By Component (Hardware & Services), By Services (Consulting, Support and Maintenance, Integration and Deployment), By Applications (Application Security, Network Security, Database Encryption), By Industry Verticals (Banking, Finance Services, Insurance, Consumer Good and Retail, Government & Defence, Healthcare and Life sciences, Telecom and IT) and Geography Forecast till 2023-2030

According to quantum business report, venture capital financiers have invested around US$ 147 Mn in January 2019 with quantum computing start-ups and governments globally. They have also funded US$ 2.2 Bn in support to researchers and developers since 2017. Quantum cryptography is a technique used to secure the confidentiality of information and data related to communication. It is a combination of quantum mechanics and encryption based applications, which allows executing various cryptography tasks such as consulting and advisory, deployment, and integration, support and maintenance service, etc.

Quantum cryptography solution is deployed for ensuring network security and application security to safeguard the integrity and reliability of network and information. It integrates both hardware and software technologies. Quantum cryptography is beneficial for automotive electronics, data security, power management, quantum computing, industry power control, and semiconductor solutions.

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KEY PLAYERS COVERED

Key players operating in the global quantum cryptography market include Magiq Technologies, Inc., Quintessencelabs, Nucrypt LLC, Qutools GmbH, Qasky, Crypta Labs Ltd, Qubitekk, Inc., PQ Solutions, Infineon Technologies AG, and Id Quantique.

SEGMENTATION

REGIONAL ANALYSIS

At the geography level, the North America region is expected to lead the quantum cryptography market in the forecast period. Due to the rising adoption of encryption-based security tools and applications in this region, and the advancement of the cyber-attacks are rising, are the factors expected to drive this market. Furthermore, the developing IT management density along with the growing need for data privacy and security solutions and services is an essential factor driving the quantum cryptography market in the region. Further, to meet the increasing demand for wireless network carriers, the U.S. major players have invested US$ 350 Bn in their wireless capital expenditure to develop mobile networks. Additionally, a growing necessity of encryption-based applications and fast adoption of connected devices including IoT and BYOD are driving the industries in North America to implement quantum cryptography solutions.