cryptography market

Quantum Cryptography Market - Global Industry
Insights, 2017 – 2025
Quantum cryptography is a technique to ensure confidentiality of communicating
information. It is a blend of quantum mechanics, which allows to perform various
cryptography tasks those are not possible by non-quantum communication.
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The key factor responsible for the growth of quantum cryptography market is increasing
incidents of cyber-attacks globally. For instance, according to Coherent Market Insights
analysis in July 2017, cybercrime increased up to 84.1% from 68.8%, which was recorded in
June 2016. Banking and finance is the major sector prone to cyber-attack. Quantum
Cryptography is used for protecting private information of data or cash related to their
customers. This confidential data is highly susceptible to cyber-threats. For instance,
according to the Reserve Bank of India (RBI), for the year 2015 – 2016, around 16,468
frauds were reported associated with ATM, debit card, credit card, and net banking. In 2014 –
2015, the number of frauds were 13,083 and 9,500 in the year 2013 –14. The data stored on
cloud or on-premises is vulnerable to cyber-attacks by various software such as Trojan horses
and viruses, which consequently increases the requirement of quantum cryptography
solutions.
However, low customer awareness about quantum cryptography is one of the key restraining
factors in the global quantum cryptography market.
Quantum Cryptography Market Taxonomy:
On the basis of component, the global quantum cryptography market is segmented into:
● Hardware
● Services
On the basis of hardware, the global quantum cryptography market is segmented into:
●
●
●
●
Server
Blade
R&D Platform
Random Number Generator
On the basis of service, the global quantum cryptography market is segmented into:
● Consulting Services
● Integration and Deployment Services
● Support and Maintenance Services
On the basis of organization size, the global quantum cryptography market is
segmented into:
● Large Enterprises
● Small and Medium Enterprises
On the basis of application, the global quantum cryptography market is segmented into:
● Database Encryption
● Application Security
● Network Security
On the basis of end user industry, the global quantum cryptography market is
segmented into:
●
●
●
●
●
Banking, Finance Services and Insurance
Telecom and IT
Government and Defense
Healthcare and Life sciences
Consumer Good and Retail
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Quantum Cryptography Market: Regional Insights
The global quantum cryptography market is segmented on the basis of regions into North
America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market for
quantum cryptography in North America is expected to dominate the global market during
forecast period. This growth is attributed to increasing cyber-attacks in this region on web
based business such as healthcare, banking and financial, and retail and manufacturing. For
instance, according to the Internet Crime Complaint Center (IC3), in 2016, cybercrimes
resulted in a loss of over US$ 1.33 billion globally. California witnessed the highest recorded
loss with over US$ 255 million. In 2016, around 28% of web application attacks were
recorded in the U.S., followed by the Netherlands and Germany. This in turn creates a highly
conducive environment for growth of the market.
Quantum Cryptography Market: Competitive Background
Major players operating in the global quantum cryptography market include Magiq
Technologies, Inc., Quintessencelabs, Nucrypt LLC, Qutools GmbH, Qasky, Crypta Labs
Ltd, Qubitekk, Inc., PQ Solutions, Infineon Technologies AG, and Id Quantique.
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Quantum cryptography is a technique to ensure confidentiality of communicating information. It is a blend of quantum mechanics, which allows to perform various cryptography tasks those are not possible by non-quantum communication.

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