The quantum communication market size has grown exponentially in recent years. It will grow from $0.93 billion in 2023 to $1.18 billion in 2024 at a compound annual growth rate (CAGR) of 27.7%. The growth in the historic period can be attributed to demand for enhanced simulation and modeling, growing complexity of automotive systems, rising focus on cybersecurity, collaborative research initiatives, regulatory pressure and emissions reduction, competitive landscape and market differentiation.
The quantum communication market size is expected to see exponential growth in the next few years. It will grow to $3.16 billion in 2028 at a compound annual growth rate (CAGR) of 27.8%. The projected growth in the forecast period can be attributed to several factors, including the rising number of IoT devices, heightened demand for secure communication, expanded network infrastructures, and a surge in the adoption of communication techniques. Key trends expected in the forecast period encompass increased adoption, technological advancements, investments in research and development, partnerships and collaborations, market expansion efforts, regulatory considerations, integration with electric vehicles, emphasis on cybersecurity, market competition dynamics, and the commercialization of quantum solutions.
The increasing prevalence of cybersecurity threats is expected to drive the growth of the quantum communication market in the future. Cybersecurity threats encompass malicious activities aimed at compromising the security of information systems, potentially altering the availability, integrity, or confidentiality of data, or disrupting digital operations. Factors contributing to the rise in cybersecurity threats include increased connectivity, inadequate cybersecurity education, training, and research, as well as the failure of governments, businesses, and individuals to establish a more secure digital ecosystem. Quantum communication offers methods for detecting unauthorized tampering or eavesdropping on communication channels that are highly sensitive to disturbances. Any attempt to intercept or tamper with quantum signals would be promptly detectable, providing a higher level of confidence in communication integrity. For example, data from the Australian Cyber Security Centre in February 2023 indicated a significant increase in cybercrime reports, with 76,000 received in 2022, marking a 13% rise from the previous year. Therefore, the escalating number of cybersecurity threats is expected to fuel the growth of the quantum communication market.
Key players in the quantum communication market are actively developing innovative products, such as optical communication devices, to better serve customers with advanced features. Optical communication devices encompass various components and technologies within optical communication systems used to transmit, receive, and process optical signals. For instance, in August 2023, SKY Perfect JSAT Corporation introduced a quantum cryptography optical communication device featuring satellite-based quantum key distribution (QKD) and cryptography technology. This initiative aimed to conduct demonstration experiments between space and ground to establish a secure satellite communication network resistant to eavesdropping or decryption, even with advancements in computational technology.
In March 2024, China Telecom Quantum Information Technology Group Co., a Chinese telecommunications company specializing in quantum communication technologies, acquired a 23.1% stake in QuantumCTek for $265 million. This strategic move is intended to bolster China Telecom's position in the quantum communication sector, enhancing the development and promotion of quantum communication products. QuantumCTek Co. Ltd., based in China, offers quantum communication solutions and technologies.
Major companies operating in the quantum communication market are Toshiba Corporation, ID Quantique SA, Nu Quantum Ltd., QuintessenceLabs Pty. Ltd., MagiQ Technologies Inc., SpeQtral Pte Ltd., Arqit Quantum Inc., QuantumCTek Co. Ltd., Anhui Qasky Quantum Technology, Qubitekk Inc., QuantLR Inc., Ki3 Photonics Technologies Inc., Qunnect Corporation, QEYnet, Aliro Quantum Inc., Crypto Quantique Ltd., Crypta Labs Limited, Quantropi Inc., Quantum Xchange Inc., Aegiq LLC, GoQuantum Inc., Qulabs Inc., Qudoor Corporation, CAS Quantum Network Co. Ltd., Quantum Telecommunications Italy (QTI).
North America was the largest region in the quantum communication market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the quantum communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the quantum communication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Quantum communication, a subset of quantum information science, is dedicated to the secure transmission of information through quantum mechanical principles. Unlike classical communication systems that rely on classical bits for information representation and transmission, quantum communication utilizes the distinctive features of quantum states, such as superposition and entanglement, to encode, transmit, and decode data securely.
In the realm of quantum communication, product types encompass hardware, service, and software. Hardware includes the physical components and devices facilitating secure quantum communication, such as quantum key distribution systems, quantum repeaters, and quantum sensors. Security services, such as application security and network security, are utilized across various sectors including government, military and defense, telecommunications, banking, financial services and insurance (BFSI), industrial enterprises, and more.
The quantum communication market research report is one of a series of new reports that provides quantum communication market statistics, including quantum communication industry global market size, regional shares, competitors with a quantum communication market share, detailed quantum communication market segments, market trends, and opportunities, and any further data you may need to thrive in the quantum communication industry. This quantum communication research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The quantum communication market consists of revenues earned by entities by providing services such as ultra-secure data transmission, networking, and collaboration capabilities across a wide range of critical applications. The market value includes the value of related goods sold by the service provider or included within the service offering. The quantum communication market also includes sales of qubits, optical and microwave pulses, lasers for cooling atoms, and quantum interconnects. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The quantum communication market size is expected to see exponential growth in the next few years. It will grow to $3.16 billion in 2028 at a compound annual growth rate (CAGR) of 27.8%. The projected growth in the forecast period can be attributed to several factors, including the rising number of IoT devices, heightened demand for secure communication, expanded network infrastructures, and a surge in the adoption of communication techniques. Key trends expected in the forecast period encompass increased adoption, technological advancements, investments in research and development, partnerships and collaborations, market expansion efforts, regulatory considerations, integration with electric vehicles, emphasis on cybersecurity, market competition dynamics, and the commercialization of quantum solutions.
The increasing prevalence of cybersecurity threats is expected to drive the growth of the quantum communication market in the future. Cybersecurity threats encompass malicious activities aimed at compromising the security of information systems, potentially altering the availability, integrity, or confidentiality of data, or disrupting digital operations. Factors contributing to the rise in cybersecurity threats include increased connectivity, inadequate cybersecurity education, training, and research, as well as the failure of governments, businesses, and individuals to establish a more secure digital ecosystem. Quantum communication offers methods for detecting unauthorized tampering or eavesdropping on communication channels that are highly sensitive to disturbances. Any attempt to intercept or tamper with quantum signals would be promptly detectable, providing a higher level of confidence in communication integrity. For example, data from the Australian Cyber Security Centre in February 2023 indicated a significant increase in cybercrime reports, with 76,000 received in 2022, marking a 13% rise from the previous year. Therefore, the escalating number of cybersecurity threats is expected to fuel the growth of the quantum communication market.
Key players in the quantum communication market are actively developing innovative products, such as optical communication devices, to better serve customers with advanced features. Optical communication devices encompass various components and technologies within optical communication systems used to transmit, receive, and process optical signals. For instance, in August 2023, SKY Perfect JSAT Corporation introduced a quantum cryptography optical communication device featuring satellite-based quantum key distribution (QKD) and cryptography technology. This initiative aimed to conduct demonstration experiments between space and ground to establish a secure satellite communication network resistant to eavesdropping or decryption, even with advancements in computational technology.
In March 2024, China Telecom Quantum Information Technology Group Co., a Chinese telecommunications company specializing in quantum communication technologies, acquired a 23.1% stake in QuantumCTek for $265 million. This strategic move is intended to bolster China Telecom's position in the quantum communication sector, enhancing the development and promotion of quantum communication products. QuantumCTek Co. Ltd., based in China, offers quantum communication solutions and technologies.
Major companies operating in the quantum communication market are Toshiba Corporation, ID Quantique SA, Nu Quantum Ltd., QuintessenceLabs Pty. Ltd., MagiQ Technologies Inc., SpeQtral Pte Ltd., Arqit Quantum Inc., QuantumCTek Co. Ltd., Anhui Qasky Quantum Technology, Qubitekk Inc., QuantLR Inc., Ki3 Photonics Technologies Inc., Qunnect Corporation, QEYnet, Aliro Quantum Inc., Crypto Quantique Ltd., Crypta Labs Limited, Quantropi Inc., Quantum Xchange Inc., Aegiq LLC, GoQuantum Inc., Qulabs Inc., Qudoor Corporation, CAS Quantum Network Co. Ltd., Quantum Telecommunications Italy (QTI).
North America was the largest region in the quantum communication market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the quantum communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the quantum communication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Quantum communication, a subset of quantum information science, is dedicated to the secure transmission of information through quantum mechanical principles. Unlike classical communication systems that rely on classical bits for information representation and transmission, quantum communication utilizes the distinctive features of quantum states, such as superposition and entanglement, to encode, transmit, and decode data securely.
In the realm of quantum communication, product types encompass hardware, service, and software. Hardware includes the physical components and devices facilitating secure quantum communication, such as quantum key distribution systems, quantum repeaters, and quantum sensors. Security services, such as application security and network security, are utilized across various sectors including government, military and defense, telecommunications, banking, financial services and insurance (BFSI), industrial enterprises, and more.
The quantum communication market research report is one of a series of new reports that provides quantum communication market statistics, including quantum communication industry global market size, regional shares, competitors with a quantum communication market share, detailed quantum communication market segments, market trends, and opportunities, and any further data you may need to thrive in the quantum communication industry. This quantum communication research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The quantum communication market consists of revenues earned by entities by providing services such as ultra-secure data transmission, networking, and collaboration capabilities across a wide range of critical applications. The market value includes the value of related goods sold by the service provider or included within the service offering. The quantum communication market also includes sales of qubits, optical and microwave pulses, lasers for cooling atoms, and quantum interconnects. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Quantum Communication Market Characteristics3. Quantum Communication Market Trends and Strategies32. Global Quantum Communication Market Competitive Benchmarking33. Global Quantum Communication Market Competitive Dashboard34. Key Mergers and Acquisitions in the Quantum Communication Market
4. Quantum Communication Market - Macro Economic Scenario
5. Global Quantum Communication Market Size and Growth
6. Quantum Communication Market Segmentation
7. Quantum Communication Market Regional and Country Analysis
8. Asia-Pacific Quantum Communication Market
9. China Quantum Communication Market
10. India Quantum Communication Market
11. Japan Quantum Communication Market
12. Australia Quantum Communication Market
13. Indonesia Quantum Communication Market
14. South Korea Quantum Communication Market
15. Western Europe Quantum Communication Market
16. UK Quantum Communication Market
17. Germany Quantum Communication Market
18. France Quantum Communication Market
19. Italy Quantum Communication Market
20. Spain Quantum Communication Market
21. Eastern Europe Quantum Communication Market
22. Russia Quantum Communication Market
23. North America Quantum Communication Market
24. USA Quantum Communication Market
25. Canada Quantum Communication Market
26. South America Quantum Communication Market
27. Brazil Quantum Communication Market
28. Middle East Quantum Communication Market
29. Africa Quantum Communication Market
30. Quantum Communication Market Competitive Landscape and Company Profiles
31. Quantum Communication Market Other Major and Innovative Companies
35. Quantum Communication Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Quantum Communication Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on quantum communication market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for quantum communication? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The quantum communication market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Product Type: Hardware; Service; Software2) By Security Service: Application Security; Network Security
3) By Application: Government; Military And Defense; Telecommunication; Banking, Financial Services And Insurance (BFSI); Industrial; Enterprise; Other Applications
Key Companies Mentioned: Toshiba Corporation; ID Quantique SA; Nu Quantum Ltd.; QuintessenceLabs Pty. Ltd.; MagiQ Technologies Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Toshiba Corporation
- ID Quantique SA
- Nu Quantum Ltd.
- QuintessenceLabs Pty. Ltd.
- MagiQ Technologies Inc.
- SpeQtral Pte Ltd.
- Arqit Quantum Inc.
- QuantumCTek Co. Ltd.
- Anhui Qasky Quantum Technology
- Qubitekk Inc.
- QuantLR Inc.
- Ki3 Photonics Technologies Inc.
- Qunnect Corporation
- QEYnet
- Aliro Quantum Inc.
- Crypto Quantique Ltd.
- Crypta Labs Limited
- Quantropi Inc.
- Quantum Xchange Inc.
- Aegiq LLC
- GoQuantum Inc.
- Qulabs Inc.
- Qudoor Corporation
- CAS Quantum Network Co. Ltd.
- Quantum Telecommunications Italy (QTI)
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | July 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 1.18 Billion |
Forecasted Market Value ( USD | $ 3.16 Billion |
Compound Annual Growth Rate | 27.8% |
Regions Covered | Global |