Quantum Cryptography Market size worth $ 476.83 Million, Globally, by 2030 at 18.67% CAGR: Verified Market Research®

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Aug 18, 2022, 10:15 ET

The market is expected to increase due to rising cyber-attacks during the digitalization era, rising need for next-generation security solutions for cloud and IoT technologies, and development of next-generation wireless network technologies.

JERSEY CITY, N.J., Aug. 18, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Quantum Cryptography Market" By Service (Consulting and Advisory, Deployment and Integration), By Security Type (Network Security, and Application Security), By Vertical (Government and Defense, Banking, Financial Services), and By Geography. According to Verified Market Research, the Quantum Cryptography Market size was valued at USD 102.34 Million in 2021 and is projected to reach USD 476.83 Million by 2030, growing at a CAGR of 18.67% from 2022 to 2030.

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Browse in-depth TOC on "Quantum Cryptography Market"

202 - Pages
126 – Tables
37 – Figures

Global Quantum Cryptography Market Overview

Digitization is delivering with it a slew of recent potentialities for optimizing systems and operations across a large variety of market end-users. The growing variety of devices is intensifying the present issues related to cyber risk management. Additionally, law-breaking is on the increase in several elements of the planet, and golf stroke pressure is on the market and end-users to decide on solutions. As a result, businesses and governments are financed by the large-scale development and preparation of those solutions so as to cut back the frequency of cyber-attacks. Rising demand for next-generation security solutions to shield confidential knowledge is predicted to profit existing and new vendors and repair suppliers within the Quantum Cryptography Market, who is going to be ready to create important profits shortly by providing effective quantum cryptography solutions and services.

The demand for these security solutions is increasing across varied government entities and therefore the BFSI trade. The key reason is that their demand to shield their transactions is growing. Businesses are more and more transitioning to a web model, and as a result, their daily transactions are increasing. moreover, large-scale use of quantum cryptography technologies is needed to keep up these transactions verified and secure. several monetary solutions are gaining traction by providing online banking to their customers, which can increase demand for such solutions in current and future transactions.

Key Developments

In January 2020, Qubitekk has purchased Quantum Key Distribution from QinetiQ to expand its offering. This portfolio will include 57 patent applications from 17 different patent families.
In May 2019, QuintessenceLabs and RSA Data Protection Manager software (DPM) clients will now be able to obtain extended support beyond the RSA DPM. QuintessenceLabs will deliver enterprise-class support, Service Level Objectives, and product quality on par with RSA. Customers holding an RSA DPM maintenance contract can renew it directly with QuintessenceLabs to get long-term DPM support.
In December 2019, ID Quantique has launched a new solution called Cerberis3 Quantum Key Distribution System for network configuration. It will aid in the configuration of point-to-point networks.

Key Players

The major players in the market are Quintessencelabs, Crypta Labs, Qasky, Qubitekk, Isara and Post-Quantum, Quantumctek, Magiq Technologies, Nucrypt, Quantum Xchange.

Verified Market Research has segmented the Global Quantum Cryptography Market On the basis of Service, Security Type, Vertical, and Geography.

Quantum Cryptography Market, By Service

Consulting and Advisory
Deployment and Integration
Support and Maintenance

Quantum Cryptography Market, By Security Type

Network Security
Application Security

Quantum Cryptography Market, By Vertical

Government and Defense
Banking, Financial Services, and Insurance
Retail
Healthcare
Automotive
Others

Quantum Cryptography Market, by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

Browse Related Reports:

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Cybersecurity Market By Deployment Model (Cloud-based, On-premise), By Service Type (Infrastructure Protection, Wireless security), By Organization Size (Large Companies, Small and Medium Businesses), By Application (Government, IT and Telecommunications), By Geography, Forecast, 2021-2028

Quantum Cryptography Consumption Market By Product Type (Table Pros, Table Cons), By Application (Financial, Government, Military & Defense, Others), By Geography, Forecast, 2021-2028

Top 4 Cybersecurity Companies putting firewall between confidential data and malware

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