The global quantum cryptography market is estimated to reach $787.88 million in 2025 from $122.89 million in 2020 growing with CAGR of 36.3% during the forecast period. Quantum cryptography has been increasingly applied in the Asia-Pacific region owing to the several investments from government in field of quantum encryption and data security hence this region has undergone leading growth in quantum techniques for cryptography. China, however, has invested significantly in research and development efforts and is expected to attribute to the high growth rate that Asia Pacific will exhibit till the end of the forecast period considered in this report.
What is Quantum Cryptography?
Quantum cryptography is precisely defined as the technique for the generation of cryptographic key by using photons which is then transmitted it to a receiver by using a suitable communication channel. Quantum Cryptography was discovered at the Columbia University in the 1970s. The cryptographic key plays the most important role in cryptography; it is used to encrypt/decrypt data. Quantum cryptography allows users to communicate using more secure methods than the traditional technology. It is based on the fundamental and invariable principles of quantum mechanics which enhances the privacy of communication. It is basically the application of quantum mechanics to cryptography. Detection of eavesdropping is one of the areas that quantum cryptography is best suited for.
What are the major applications for Quantum Cryptography?
Quantum cryptography is widely being applied for secure data transmission as it allows exchange of an enciphering key over a private channel with complete security of communication between two parties. Quantum key distribution (QKD) is one of the most common applications of quantum cryptography. It is used to secure communication between two parties and a secret random key is used to encrypt and decrypt the data. QKD only produces and distributes the random secret key and is not used for data communication per se. Standard communication channels are used for transmission of the data. The quantum cryptography technology is being increasingly incorporated in satellites, bank ATMs, defense, etc. where it is necessary to transmit data in secure and fast ways.
Quantum Cryptography Market
Market Research and Market Trends of Quantum Cryptography Ecosystem
Increasing use of computer network for business transactions and communication consisting of confidential information has led for rise in the need for encryption techniques to ensure security of this information from 3rd party. The need for securing data and counter the widespread cyber security concerns is a major factor augmenting the growth of this market. Governments and defense organizations and banks are some of the application segments that have already been using quantum key distribution for several years. Given the success rate of this technology, it is expected that quantum cryptography will be used for several more applications such as securing Internet transactions, large enterprises, and airports, among several others.
Non-quantum cryptography is still considered very safe for now, because it relies on algorithms that can't be cracked in less than the lifetime of the universe by all the currently existing computers. Theoretically there is no need for quantum cryptography as such yet. However, it is expected that with quantum computers coming into play, the computational speeds will get dramatically high, which will make the mathematical complexity of algorithms less of a challenge. Hence based on future perspective companies are looking to be a step forward by installing quantum cryptographic systems.
Plenty of governments, military operators, and commercial businesses are eagerly interested for incorporating quantum cryptography in their process due to its unmatched security. The Chinese have incorporated this technology in their satellite Micius which has set up the first intercontinental quantum cryptography service. The system was implemented by setting up a secure videoconference between Europe and China. University of Vienna and University of Science and Technology of China have demonstrated intercontinental quantum communication among multiple locations on Earth with a maximum separation of 7,600 kilometers. The security of this videoconference was guaranteed for the first time by the laws of physics with the help of quantum cryptography.
Who are the Major Players in Quantum Cryptography market?
The players profiled in the report include ID Quantiques SA (Switzerland), Anhui Qasky Science and Technology Ltd (China), MagIQ Technologies (U.S), Quintessence Labs (Australia), 1QBit, River Lane Research, Accenture, imec, Airbus, Aliyun (Alibaba Cloud).
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2020-2025.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyse the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
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2. Executive Summary
3. Quantum Cryptography - Market Landscape
3.1. Market Share Analysis
3.2. Comparative Analysis
3.2.1. Product Benchmarking
3.2.2. End User Profiling
3.2.3. Top 5 Financials Analysis
4. Quantum Cryptography- Market Forces
4.1. Market Drivers
4.2. Market Constraints
4.3. Market Challenges
4.4. Attractiveness of the Quantum Cryptography market
4.4.1. Power of Suppliers
4.4.2. Power of Customers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitution
4.4.5. Degree of Competition
5. Quantum Cryptography market- Strategic Analysis
5.1. Value Chain Analysis
5.2. Pricing Analysis
5.3. Opportunities Analysis
5.4. Product/Market Life Cycle Analysis
5.5. Suppliers and Distributors
6. Quantum Cryptography Market – By Deployment Protocol
6.1. TSL/SSL protocol
6.2. BB84 protocol
7. Quantum Cryptography Market – By Algorithm Type
7.1. Symmetric key
7.2. Asymmetric key
8. Quantum Cryptography Market – By Component
8.2.1. Consulting services
8.2.2. Deployment and integration services
8.2.3. Support and maintenance services
8.3.3. Post-Quantum Cryptography
8.3.4. Crypto libraries
9. Quantum Cryptography Market – By Application
10. Quantum Cryptography Market – By End User Vertical
10.2.1. Large enterprises
10.2.2. Small & Medium enterprises
10.7. Energy & Power
10.8. IT and Telecommunication
10.9. Banking, Financial Services and Insurance
11. Global Quantum Cryptography Market - By Geography
11.1. North America
11.2. South America
11.2.7. Costa Rica
11.4.3. South Korea
11.4.7. Hong Kong
11.5. Middle East& Africa
12. Market Entropy
12.1. New Product Launches
12.2. M&As, Collaborations, JVs, Partnership
13. Company Profiles (Overview, Financials, SWOT Analysis, Developments, Product Portfolio)
13.1. ID Quantiques SA (Switzerland)
13.2. Anhui Qasky Science and Technology Ltd (China)
13.3. MagIQ Technologies (U.S)
13.4. Quintessence Labs (Australia)
13.6. River Lane Research
13.10. Aliyun (Alibaba Cloud)
14.3. Research Methodology
14.5. Compilation of Expert Insights