Dublin, Jan. 25, 2019 (GLOBE NEWSWIRE) -- The "Quantum Cryptography Market by Component, Services, Security Type, Vertical & Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global quantum cryptography market is expected to grow from USD 101 million in 2018 to USD 506 million by 2023, at a Compound Annual Growth Rate (CAGR) of 37.9% during the forecast period.

Major growth factors for the market include the growing incidents of cyber-attacks in the era of digitalization, increasing cybersecurity funding, rising demand of next-generation security solutions for cloud and IoT technologies, and evolving next-generation wireless network technologies. However, lack of expertise and high implementation cost could restrain the market growth.

In the era of the Internet of Things (IoT), cloud computing, and Artificial Intelligence (AI), data generation is increasing at a rapid pace. Encryption is one of the most essential security techniques for the security of database, network, and applications. Quantum cryptography solutions play an important role in achieving and securing multiple entities.

The traditional encryption techniques that make use of computational complexity are being used in today's scenario and have been relied on, for more than the past 2 decades. However, these traditional techniques were not designed to prevent quantum attacks at the time of their invention, when research into quantum computation was unknown to most cryptographic experts.

ew cryptographic techniques are going to replace the traditional ones to provide security against quantum threats. These techniques are known as quantum-safe and comprise properties of light that prevent interception of messages, as well as, follow standard computational procedures.

Following are the key factors driving the growth of the quantum cryptography market:

• IoT adoption: According to Cisco, a leading IoT provider, the number of IoT connections is expected to grow from 21.7 million in 2017 to 155.7 million by 2024.
• Mobile subscriber penetration: According to Global System for Mobile Communications Association (GSMA) Intelligence, the number of mobile subscribers is increasing at a significant rate.
• Recent developments: Partnerships, collaborations, and new product launches are increasing every year. There were 4 deals in 2016, 5 deals in 2017, and 8 deals in 2018.
• Government initiatives: There are several initiatives taken by various governments, such as the US National Quantum Initiative, USD 218 million investment initiative by the US Department of Energy, US quantum initiatives with Department of Energy (DoE), National Science Foundation (NSF) funding and house bill, Quantum Canada initiative, UK and Singapore collaboration initiative to invest USD 12 million for developing next-generation quantum communications networks, and China's development of quantum research supercenter.
• Security spending: Worldwide security spending is increasing significantly. The highest growth in spending has been witnessed in cloud security, application security, and data security.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Quantum Cryptography Market
4.2 Market in the Americas, By Security Type and Country
4.3 Market, By Region
4.4 Market: Investment Scenario

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Cyber-Attack Incidents in the ERA of Digitalization
5.2.1.2 Increasing Cybersecurity Funding
5.2.1.3 Rising Demand for Next-Generation Security Solutions for Cloud and IoT Technologies
5.2.1.4 Evolving Next-Generation Wireless Network Technologies
5.2.2 Restraints
5.2.2.1 High Implementation Cost
5.2.2.2 Lack of Expertise
5.2.3 Opportunities
5.2.3.1 Spur in Demand for Security Solutions Across Industry Verticals
5.2.3.2 Increasing Need for Integration Solutions
5.2.4 Challenges
5.2.4.1 Quantum Cryptography Commercialization
5.2.4.2 Technological and Implementation Challenges
5.3 Quantum Cryptography Protocols
5.3.1 Bb84 Protocol
5.3.2 B92 Protocol
5.3.3 Sarg04 Protocol
5.3.4 E91 Protocol
5.3.5 SSP Protocol
5.4 Quantum Cryptography Types
5.4.1 Position-Based Quantum Cryptography
5.4.2 Device-Independent Quantum Cryptography
5.4.3 Bounded- and Noisy-Quantum-Storage Model
5.5 Quantum Cryptography Margins
5.5.1 Quantum Repeaters
5.5.2 Point-To-Point Communication
5.5.3 Vulnerable to Attacks
5.6 Future Scope of Quantum Cryptography
5.7 Use Cases

6 Quantum Cryptography Market, By Component
6.1 Introduction
6.2 Solutions
6.2.1 Solutions Segment Includes QKD Platforms, Qrng Platforms, QKD Servers, Virtual Encryptors, QKD Distributors, Key and Policy Managers, SDK to Integrate Cryptography, Communication Devices, Gateway, Repeaters, and Hackerbox
6.3 Services
6.3.1 Growing Need for Expert Assistance, Starting From Consultation to Implementation of A Customized Solution

7 Quantum Cryptography Market, By Service
7.1 Introduction
7.2 Consulting and Advisory
7.2.1 Increasing Demand for Consultation to Resolve Hindrances for Commercial Clients' Business Growth
7.3 Deployment and Integration
7.3.1 Growing Modernization and Deployment of Quantum Cryptography Solutions to Meet the Rising Demand for Secure Data Transmission
7.4 Support and Maintenance
7.4.1 Demand for Support and Maintenance Services for the Implementation and Use of Hardware

8 Quantum Cryptography Market, By Security Type
8.1 Introduction
8.2 Network Security
8.2.1 Growing Need to Ensure the Integrity and Usability of Network and Information
8.3 Application Security
8.3.1 Increasing Demand to Protect Applications From Intruders

9 Quantum Cryptography Market, By Vertical
9.1 Introduction
9.2 Government and Defense
9.2.1 Increasing Need to Secure Confidential Data From Thefts and Unauthorized Access
9.3 Banking, Financial Services, and Insurance
9.3.1 Need to Cater to Financial Security, Online Fund Transfer Security, and Data Security By Encrypting Files, Data, and Emails With Unbreakable Quantum Mechanisms
9.4 Retail
9.4.1 Increasing Adoption of Quantum-Safe Encryption Hardware to Encrypt and Protect Customers' Confidential and Private Information
9.5 Healthcare
9.5.1 Need to Improve the Proficiency of Clinical and It Staff, and Provide Real-Time Information Access in Case of Emergencies
9.6 Automotive
9.6.1 Increasing Demand to Provide Physical Access and Protection to Confidential Information and Critical Safety Systems
9.7 Others

10 Quantum Cryptography Market, By Region

11 Competitive Landscape
11.1 Overview
11.2 Microquadrant Overview
11.2.1 Progressive
11.2.2 Responsive
11.2.3 Dynamic Companies
11.2.4 Starting Blocks
11.2.5 Market Ranking
11.3 Competitive Scenario
11.3.1 New Product Launches and Product Enhancements
11.3.2 Partnerships, Collaborations, and Agreements

12 Company Profiles

• Aurea Technology
• Crypta Labs
• HP
• IBM
• ID Quantique
• Infineon
• Isara
• Magiq Technologies
• Microsoft
• Mitsubishi Electric
• NEC
• Nucrypt
• Post-Quantum
• Qasky
• Quantum Xchange
• Quantumctek
• Qubitekk
• Quintessencelabs
• Qunu Labs
• Qutools
• Toshiba

For more information about this report visit https://www.researchandmarkets.com/research/jfkjq3/500_million?w=12

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Related Topics: IT Security, Home Security and Safety, Security Services 

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