The Quantum Cryptography Market report research highlights key dynamics of the global sector. The potential of the industry has been investigated along with the key challenges. The current market scenario and prospects of the sector has also been studied.
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North America dominates the global quantum cryptography market due to the rising demand for IT and cloud services, advancements in communication networks, and a rise in the number of cyber threats. To meet the rising demand for wireless network carriers, the U.S. officials have invested approximately USD 350 billion over the last two decades in their wireless capital expenditure to build the mobile networks. Furthermore, an increasing requirement for encryption-based applications and an enhanced adoption of connected devices including IoT and BYOD are driving the industries in North America to implement quantum cryptography solutions.
The network security application is anticipated to grow at the fastest rate in the quantum cryptography market. The recent advances in technology have a widespread effect on the network infrastructure worldwide. This development has given a boom to the e-commerce sector, as there are a growing number of customers adopting digital shopping solutions and generating a vast amount of network traffic. Moreover, the growing trend of remote access security and wireless communication has resulted in growth in the adoption of quantum cryptography, aiming toward protecting the integrity of networks.
Quantum cryptography market solutions are accepted across various industry verticals including government organizations, retail, IT & telecom, BFSI, and healthcare. The market is witnessing a high adoption rate from the IT & telecom sector due to its rising penetration of smartphones and internet and an increase in the requirement for safe and secure communication. The government organizations contribute to a major market share due to various e-government initiatives, online utility bill payment systems, and a rise in the number of corporate accounts.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- ID Quantique
- MagiQ Technologies
- Infineon Technologies
- Crypta Labs
- PQ Solutions
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The quantum cryptography market is characterized to be fragmented due to the presence of a considerable number of players. Some of the major players functioning in the market are ID Quantique, MagiQ Technologies, Infineon Technologies, QuintenssenceLabs, Crypta Labs, ISARA, Toshiba, Microsoft, IBM, HP, PQ Solutions, and Qubitekk. These players are involved in research and development initiatives for expanding their offerings and developing innovative quantum cryptography solutions deployable across all industry verticals.