Quantum Cryptography Market Demand, Future Trend And Recent Development By Forecast 2027
Summary:
A new study title “Quantum
Cryptography market size, status and forecast 2027” has been featured on
market research future.
Market Overview:
The
global quantum
cryptography market is projected to witness a steady growth during the
forecast period. Increasing concerns related to data security and privacy are
preliminary factors driving the market. In addition, rise in use of cloud
storage and computing technologies further fuel the market growth.
The
global quantum cryptography market, by geography, is segmented into North
America, Europe, Asia Pacific, and Rest of the World. As compared to other
regions, the quantum cryptography market in Asia Pacific is expected to witness
a significant growth during the forecast period. India and China are
anticipated to drive the growth of the Asia Pacific quantum cryptography market
owing to increasing concerns over data security and privacy. The market is
likely to show immense growth in the coming future. North America has a
well-established infrastructure, which allows higher penetration of devices and
ultimately provides better connectivity. Advancements in the technology and
shift towards community cloud are other major factors responsible for the
growth of the quantum cryptography market.
In
the global quantum cryptography market, Asia Pacific is anticipated to witness
a relatively faster adoption at the highest CAGR during the forecast period as
compared to other regions owing to the growth in digital intelligent devices
and digitization campaigns by Indian government.
The global quantum cryptography market is
projected to reach USD 640 Million at a CAGR of over 14% by the end of the
forecast period 2017-2023.
Taste
the market data and market information presented through more than 30 market
data tables and figures spread over 100 numbers of pages of the project report.
Avail the in-depth table of content TOC & market synopsis on “Global
Quantum cryptography Market Research Report-Forecast to 2023”.
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Key players :
Some of the prominent players in the global quantum
cryptography market: PQ Solutions (U.K), Infineon (Germany), Qubitekk (U.S),
Quintessencelabs (Australia), Nucrypt (U.S), Crypta Labs (U.K), Qutools
(Germany), Magiq Technologies (U.S), NEC Corporation (Japan) and Toshiba
(Japan).
Segment:
The global quantum cryptography
market is segmented on the basis of service, application, vertical, and
component. The service segment is classified into support and maintenance
services, deployment and integration services, consulting services. Based on
application, the market is segmented into database encryption, application
security and network security. The vertical segment includes banking and
financial services, consumer goods and retail, government and defense, it and
telecom, healthcare and life sciences. Based on component the market is
segmented into hardware and software. The deployment and integration services
to hold the major share of the market owing to the increasing demand for secure
data transmissions.
Regional Analysis:
North America is estimated to
account for the largest share of the market, whereas Asia Pacific market is
projected to grow at the fastest rate during the forecast period. The Asia
Pacific market is witnessing rapid growth due to growth in digital data and
digital intelligent devices which is further supplemented by digital India
campaigns by the Indian government. The U.S. holds majority of the market share
both in terms of revenue as well as adoption of quantum cryptography market.
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