Press Release / Technology / Quantum Cryptography Market Size, Segments, Growth and Trends by Forecast to 2023

Quantum Cryptography Market Size, Segments, Growth and Trends by Forecast to 2023

Market Highlights:
The growing trend of Bring your own device (BOD) is a factor favoring growth for the market. However, lack of skills and expertise needed hampers the market growth. The gaining popularity integrated solutions is expected to expected to create lucrative opportunities for the market.
 
The global Quantum Cryptography Market has been segmented on the basis of service, application, vertical, and component. The application segment is classified into database encryption, application security and network security. The network security segment is expected to hold the major share of the market owing to the evolution of next generation wireless network technologies.
 
Quantum Cryptography Market is estimated to exhibit high growth potential during the forecast period owing to its increasing demand across various industry verticals. Increasing data security and privacy concerns is driving the growth of the market.
 
Companies such as Nucrypt, Crypta Labs, Qutools, and Magiq Technologies are some of the major players in the global Quantum Cryptography market. Nucrypt develops technologies for emerging applications in metrology and communication. The company produces and manufacture electronic and optical pulsers. Crypta Labs deals in application security for devices. The company deals in Quantum Random Number Generator products and solutions and Internet of Things (IoT). The major sectors company looks at is transport, military and medical. The company Qutools develops Smart tools for quantum optics. The company deals in quantum information products which include quantum cryptography systems. 
 
According to Market Research Future Analysis, the global Quantum Cryptography market is estimated to generate revenue of approximately USD 640 million by 2023 growing at a CAGR of 14% during the forecast period 2017-2023.
 
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Major Key Players:

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)
Toshiba (Japan)

 
Market Research 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.
 
Regional Analysis:
The Quantum Cryptography market is studied for Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period.
 
The North American market growth is attributed to high adoption of cloud based applications and increasing safety and security concerns.
 
Global Quantum cryptography Market Segmentation:
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.
 
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Intended Audience:

Technology Investors
Research/Consultancy firms
Technology Solution Providers
Government Bodies
Retailers

 
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