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Global Quantum Cryptography Market to reach USD 473.50 million by the end of 2030.

Global Quantum Cryptography Market Size Study & Forecast, by Type (Quantum Key Distribution, Quantum Random Number Generation, Others), by Security Type (Application Security, Network Security), by Industry (BFSI, Cloud & Datacentre, Government, Energy & Utilities, Healthcare, Automotive, Others), and Regional Analysis, 2023-2030

Product Code: ICTICTS-84851075
Publish Date: 30-10-2023
Page: 200

Global Quantum Cryptography Market is valued at approximately USD 111.6 million in 2022 and is anticipated to grow with a healthy growth rate of more than 19.8% over the forecast period 2023-2030. Quantum cryptography is a field of study and technology that leverages the principles of quantum mechanics to provide secure communication between two parties. It aims to ensure the confidentiality and integrity of information exchanged over a communication channel. The market growth is driven by key factors including increasing government funding for cybersecurity, surging demand for next-generation security solutions for cloud and IoT technologies and evolving next-generation wireless network technologies.

Additionally, the rising concerns about cyberattacks in the digitalization era are further contributing to market expansion around the world. Quantum cryptography has the potential to give higher security assurances than conventional cryptographic techniques, making it a suitable choice for companies and governments to improve data security. According to the report of Israel21c in 2021, cyber-attacks have increased to around 225% in the past three years from 2018 to 2021. In 2021, nearly 85% of cyber-attacks were carried out remotely, and 40% of attacks targeted back-end servers. Additionally, in 2021, about 54.1% of attacks took place by Black Hat hackers which is up from 49% in 2020. It includes 38% data/privacy breaches, 27% car theft /break-ins, and 20% control system attacks. Thus, these aforementioned factors are fueling the growth of the Quantum Cryptography Market during the estimated period. Moreover, the spur in demand for security solutions across industry verticals, as well as the increasing need for integrated solutions present various lucrative opportunities over the forecast years. However, the unavailability of skilled professionals and the high implementation cost are challenging the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Quantum Cryptography Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing cybersecurity funding, high demand for next-generation security resolutions for cloud and IoT technologies, the evolution of wireless network technologies, and multiple partnerships and collaborations to promote and develop apprenticeship programs. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. rising incidents of cyber-attacks with acceleration in digitalization, supportive government regulations for data security, growing trend of the Internet of Things (IoT), as well as emerging Quantum Key Distribution (QKD) solutions are significantly propelling the market demand across the region.

Major market players included in this report are:
QuintessenceLabs. (Australia)
Quside Technologies (Spain)
MagiQ Technologies (U.S.)
Toshiba Digital Solutions Corporation (Japan)
QNu Labs Private Limited. (India)
KETS QUANTUM SECURITY LTD. (U.K.)
LuxQuanta Technologies S.L. (Spain)
Quantum Xchange. (U.S.)
ID Quantique (Switzerland)
Qrypt (U.S.)

Recent Developments in the Market:
Ø In May 2023, Amazon Web Services launched two quantum computing skill-development programs in India. The company is working with educational institutions and learning platforms to integrate Amazon Braket, a fully managed quantum computing service, into the courses.
Ø In May 2021, QNu Labs announced the introduction of a QRNG chip and QKD system with a range beyond 100 km. With this launch, the company is focusing on expanding its market presence in India.

Global Quantum Cryptography Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Security Type, Industry, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Quantum Key Distribution
Quantum Random Number Generation
Others

By Security Type:
Application Security
Network Security

By Industry:
BFSI
Cloud & Datacentre
Government
Energy & Utilities
Healthcare
Automotive
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Million)
1.2.1. Quantum Cryptography Market, by Region, 2020-2030 (USD Million)
1.2.2. Quantum Cryptography Market, by Type, 2020-2030 (USD Million)
1.2.3. Quantum Cryptography Market, by Security Type, 2020-2030 (USD Million)
1.2.4. Quantum Cryptography Market, by Industry, 2020-2030 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Quantum Cryptography Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Quantum Cryptography Market Dynamics
3.1. Quantum Cryptography Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Surging demand for next-generation security solutions for cloud and IoT technologies
3.1.1.2. Rising concerns about cyberattacks in the digitalization
3.1.2. Market Challenges
3.1.2.1. Unavailability of skilled professionals
3.1.2.2. High implementation cost
3.1.3. Market Opportunities
3.1.3.1. Spur in demand for security solutions across industry verticals
3.1.3.2. Increasing need for integrated solutions
Chapter 4. Global Quantum Cryptography Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Quantum Cryptography Market, by Type
5.1. Market Snapshot
5.2. Global Quantum Cryptography Market by Type, Performance – Potential Analysis
5.3. Global Quantum Cryptography Market Estimates & Forecasts by Type 2020-2030 (USD Million)
5.4. Quantum Cryptography Market, Sub Segment Analysis
5.4.1. Quantum Key Distribution
5.4.2. Quantum Random Number Generation
5.4.3. Others
Chapter 6. Global Quantum Cryptography Market, by Security Type
6.1. Market Snapshot
6.2. Global Quantum Cryptography Market by Security Type, Performance – Potential Analysis
6.3. Global Quantum Cryptography Market Estimates & Forecasts by Security Type 2020-2030 (USD Million)
6.4. Quantum Cryptography Market, Sub Segment Analysis
6.4.1. Application Security
6.4.2. Network Security
Chapter 7. Global Quantum Cryptography Market, by Industry
7.1. Market Snapshot
7.2. Global Quantum Cryptography Market by Industry, Performance – Potential Analysis
7.3. Global Quantum Cryptography Market Estimates & Forecasts by Industry 2020-2030 (USD Million)
7.4. Quantum Cryptography Market, Sub Segment Analysis
7.4.1. BFSI
7.4.2. Cloud & Datacentre
7.4.3. Government
7.4.4. Energy & Utilities
7.4.5. Healthcare
7.4.6. Automotive
7.4.7. Others
Chapter 8. Global Quantum Cryptography Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Quantum Cryptography Market, Regional Market Snapshot
8.4. North America Quantum Cryptography Market
8.4.1. U.S. Quantum Cryptography Market
8.4.1.1. Type breakdown estimates & forecasts, 2020-2030
8.4.1.2. Security Type breakdown estimates & forecasts, 2020-2030
8.4.1.3. Industry breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Quantum Cryptography Market
8.5. Europe Quantum Cryptography Market Snapshot
8.5.1. U.K. Quantum Cryptography Market
8.5.2. Germany Quantum Cryptography Market
8.5.3. France Quantum Cryptography Market
8.5.4. Spain Quantum Cryptography Market
8.5.5. Italy Quantum Cryptography Market
8.5.6. Rest of Europe Quantum Cryptography Market
8.6. Asia-Pacific Quantum Cryptography Market Snapshot
8.6.1. China Quantum Cryptography Market
8.6.2. India Quantum Cryptography Market
8.6.3. Japan Quantum Cryptography Market
8.6.4. Australia Quantum Cryptography Market
8.6.5. South Korea Quantum Cryptography Market
8.6.6. Rest of Asia Pacific Quantum Cryptography Market
8.7. Latin America Quantum Cryptography Market Snapshot
8.7.1. Brazil Quantum Cryptography Market
8.7.2. Mexico Quantum Cryptography Market
8.8. Middle East & Africa Quantum Cryptography Market
8.8.1. Saudi Arabia Quantum Cryptography Market
8.8.2. South Africa Quantum Cryptography Market
8.8.3. Rest of Middle East & Africa Quantum Cryptography Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. QuintessenceLabs. (Australia)
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Recent Developments
9.3.2. Quside Technologies (Spain)
9.3.3. MagiQ Technologies (U.S.)
9.3.4. Toshiba Digital Solutions Corporation (Japan)
9.3.5. QNu Labs Private Limited. (India)
9.3.6. KETS QUANTUM SECURITY LTD. (U.K.)
9.3.7. LuxQuanta Technologies S.L. (Spain)
9.3.8. Quantum Xchange. (U.S.)
9.3.9. ID Quantique (Switzerland)
9.3.10. Qrypt (U.S.)
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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