With the increasing popularity of the Internet, which has become a necessity in the last decade, and the omnipresence of smartphones, the need for secure communications, data security and cyber-attack has escalated exponentially. Quantum cryptography is a reliable solution for developing data security issues, but unlike conventional cryptology methods, quantum cryptology depends on physics rather than mathematics and the market for it is expected to expand to a strong CAGR over the period. forecast for 2017 to 2025.
Based on the end user, the global encryption market can be divided into governmental and regulatory bodies, small and medium-sized enterprises (SMEs) and large enterprises. Geographically, the report examines opportunities in the cryptographic market in various important areas, such as Asia, North America, Europe and the Middle East and Africa. The report is ready to act as a credible business document for stakeholders in this market and assesses a future scenario by 2025.
The fragmented nature of the quantum cryptographic market is the result of a large number of participants, both multinational and local. As the demand for quantum encryption solutions differs in other areas, technological innovation and expanding the solution are expected to determine the market leader in the near future.
HP Development Company, ID Quantique, n IBM and Nokia are some of the key players in the global quantum encryption market, while other notable players are Google, Intel, QuintessenceLabs, Alibaba Group, Infineon Technologies, BT, KPN, MagiQ Technologies, Lockheed Martin, McAfee, Microsoft, NEC Corporation, Mitsubishi NTT Communications, Raytheon, Toshiba and SK Telecom.
Millions of people around the world are buying something online, from dresses, electronic gadgets and furniture to even food. They buy these products with their credit or debit cards, the details of which are usually stored on the online platform after the first purchase. The information there remains protected by them hackers. This is due to various data security solutions that protect such sensitive information. Quantum encryption is one of them and differs from the standard encryption methods.
Its demand has flourished in the recent past due to the omnipresence of smartphones and other smart devices and the heavy reliance on Internet for most of our markets and banking. The increasing trend of bring your own device (BYOD) to organizations has also helped to 'lift' them. Since BYOD allows employees to access confidential corporate data anywhere and anytime on their personal devices, it is imperative to protect them from cyber attacks and cyberattacks. hacking.
The regional analysis covers:
- North America
- Latin America
- Middle East and Africa
Numerous new technologies have proved beneficial to the market for quantum cryptography. One of these is the use of biometrics, which recognize face and fingerprints. Currently, North America is the most promising market where many organizations are thriving in the latter technologies, including the explosive e-commerce industry. Asia and Europe are other key areas that are expected to present very good opportunities. The banking and financial services and insurance (BFSI) industry is at the forefront of market leadership across all continents. This is because of the added importance attached to the security of extremely sensitive customer data such as bank account number and credit card and debit card details.
The increasing demand to bring your own device (BYOD) to several organizations is the main driver of the worldwide Quantum Cryptography market. With BYOD policies, employees can access organizational data and applications on their personal electronic devices, such as tablet, smartphones, laptop and desktop, which in turn provide the flexibility to work from anywhere, anytime. BYOD is making great strides in improving productivity and reducing operating costs. The increasing use of cybersecurity solutions in the utilities sector, the escalating need for security in the cyberspace in the defense sector, the incoming demand from businesses and the need for secure online transactions are some of the other factors driving demand in the global quantum cryptography market.
The study presents reliable qualitative and quantitative knowledge on:
- Market segments and sub-sectors
- Market trends and dynamics
- Supply chain and market demand
- Market valuation (revenue and / or volume)
- Key trends / opportunities / challenges
- Forces that determine the current and estimated future state of the competitive landscape
- Technological developments
- Value chain and stakeholder analysis
In the recent past, North America has been the most lucrative region for players in the quantum encryption market, reflecting the prevalence of confidential information fraud in several countries. organizations, the popularity of e-commerce and online payments, the adoption of new technologies and the increasing number of cyber-attacks. North America is expected to remain the most prominent region throughout the forecast period, although it is expected that Asia and Europe will have very good opportunities in the near future.