Quantum Cryptography Market Size and Share with Competitive Status of Quintessencelabs, Nucrypt LLC, Qutools GmbH, Qasky, Crypta Labs Ltd, Qubitekk, Inc., PQ Solutions, Infineon Technologies AG, and Id Quantique

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. 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.

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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
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.

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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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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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This release was published on openPR.