Tailored Industry Cloud Technology to drive the Quantum Cryptography Market at a CAGR of 26.4%

The global quantum cryptography market is anticipated to exhibit a high CAGR of 26% during the forecast period (2019- 2029).

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While using a traditional method of encryption, data is transferred in an encoded form over a public network along with a key to enable the receiver to decode the data. This poses a high risk of losing information about the key, which can result in data loss. Users have started to adopt quantum cryptography to overcome this problem, which uses the quantum key distribution (QKD) method that transfers a special key using light/photons instead of a public channel. Quantum cryptography provides high security and ensures confidentiality of data over a conventional method.

On back of increasing applications across different industry verticals, such as banking and financial services, IT and telecom, and government and defense,

Key Players:

The report has profiled some of the Important players prevalent in the global like – ID Quantique, Qubitekk, Quantum XC, QuintessenceLabs, PQ Solutions Limited, Toshiba Corporation, Infineon Technologies AG, Thales (Gemalto), MagiQ Technologies, Crypta Labs Ltd., Anhui Qasky Quantum Technology Co. Ltd., ISARA Corporation, QuantumCTek Co., Ltd., QuNu Labs Pvt. Ltd. and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Quantum Cryptography.

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Key Takeaways of Quantum Cryptography Market Study

• Technology companies are partnering with various universities, with an objective to accelerate their research on quantum cryptography.
• The quantum cryptography software segment is anticipated to grow at a significant rate, due to the increasing usage of quantum technology for encryption in present times.
• Rising adoption of quantum computers is boosting the demand for quantum cryptography solutions, as quantum computers can easily decode public key encryption.
• North America dominates the global quantum cryptography market, owing to the presence of key players and vast number of quantum technology users in the region.

“Military applications across various fields such as artificial intelligence, big data analytics, advanced robotics, and complex systems simulation have been identified as lucrative for players offering quantum cryptography solutions and services. Implications of quantum cryptography solutions have strategic importance in the economic field, international affairs, and national security of a country,” says a PMR analyst.

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