Quantum Cryptography Market Size, Share, Growth Opportunity and Industry Outlook-2026

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PORTLAND, PORTLAND, OR, UNITED STATE, December 7, 2021 /EINPresswire.com/ -- Growth in a number of cyber-attacks, rise in cyber security funding, increase in demand for next-generation security solutions due to rise in penetration of cloud, and IoT drive growth of the quantum cryptography market.

However, lack of expertise and high cost hinders the growth of the market. Furthermore, an increase in awareness about cyber security among industrial verticals and users creates a growth opportunity for the quantum cryptography market globally.

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Quantum cryptography is based on the concept of photons. It uses the movement of photons to detect cyber-attack while data transfer. Sudden change in movement and position of photon indicates threats and takes replay action by alerting the security system immediately.

The deployment cost of quantum cryptography is quite expensive as it requires its own infrastructure, which hinders the growth of the quantum cryptography market. In addition, it works over fairly short distances and to increase distance installation of repeaters and channels between source and destination is necessary, which further increases its cost.

COVID-19 scenario Analysis:

1. The emergence of the COVID-19 pandemic has severely affected almost all industries across the world. Further, lockdown enforcements and restrictions on movements of non-essential goods as well as resources in various countries have disrupted the supply chain of electronic components & networking equipment. Thus, this has led to a delay in the supply of electronic components required in the manufacturing of network equipment.

2. The outbreak of COVID-19 forced industrial verticals to shift their work to work from home and major of the workforce started to work remotely. This has created more awareness about cyber security in businesses and positively affects the quantum cryptography industry.

3. The global pandemic is just the latest hurdle along an already obstacle-littered path for the quantum computing industry. While researchers have long touted the potential paradigm-shifting nature of quantum technology has never promised short-term returns.

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