Quantum Secure Communication Market Insights on Current Scope 2030

According to the Market Statsville Group (MSG), the global quantum secure communication market is estimated to grow at a CAGR of 18.7% from 2022 to 2030. Quantum secure communications, a niche application of quantum computing, involves utilizing entangled photons to transfer information securely. Factors such as growing investment in the defense sector. For instance, according to the data published by Stockholm International Peace Research Institute (SIPRI), world military expenditure was USD 1,981 billion in 2020, an increase of 2.6% in 2019. This will pave the way for the market's growth in forthcoming years across the globe. Other factors such as advancing technologies and growing R&D investments will further drive the market's growth during the forecast period.

COVID-19 Impact on the Global Quantum Secure Communication Market

COVID-19 positively impacted the market's growth due to the increasing cyber-attacks during the pandemic. The government and military were focused more on adopting technologies, such as quantum secure communication, to safeguard vital data from hackers. Moreover, the growing investment in defense in 2020 has further supported the market's growth during the pandemic. For instance, according to the Stockholm International Peace Research Institute (SIPRI) data, in 2020, US military expenditure grew by 4.4% to USD 778 billion. Whereas China 1.9%, India 2.1%, Russia 2.5%, and the UK 2.9%, have increased their military spending in 2020. Hence, the market during COVID-19 witnessed positive growth.

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Scope of the Global Quantum Secure Communication Market
The study categorizes the quantum secure communication market based on type, communication type, component, photon count, and application at the regional and global levels.

By Type Outlook (Sales, USD Million, 2017-2030)
Quantum Key Distribution
Quantum Teleportation
By Communication Type Outlook (Sales, USD Million, 2017-2030)
Direct
Indirect
By Component Outlook (Sales, USD Million, 2017-2030)
Hardware
Software
By Photon Count Outlook (Sales, USD Million, 2017-2030)
Single Photon
Double Photon
Others
By Application Outlook (Sales, USD Million, 2017-2030)
Military
Government Agency
Aerospace
Business
Others
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By Region Outlook (Sales, USD Million, 2017-2030)
North America
US
Canada
Mexico
Europe
Germany
Italy
France
UK
Spain
Poland
Russia
The Netherlands
Norway
Czech Republic
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Indonesia
Malaysia
Thailand
Singapore
Australia & New Zealand
Rest of Asia Pacific
South America
Brazil
Argentina
Colombia
Rest of South America
The Middle East & Africa
Saudi Arabia
UAE
South Africa
Northern Africa
Rest of MEA
The military segment accounts for the highest CAGR in the market
Based on applications, the government accounted for the major market share in 2021, backed by the increase in demand for secure quantum communication to secures the government's vital information from cyber attacks or data leaks. The government of various economies, both developed and emerging economies, are investing significantly in quantum secure communication to benefit from the technology. However, the military segment by application is estimated to showcase the highest CAGR during the forecast period. The security features and secure communication enable the military to manage and communicate regarding their operations effectively. Such factors will contribute to the segmental growth in upcoming years.

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Asia Pacific dominates the global quantum secure communication market
Based on the regional analysis, Asia Pacific accounts for the major market share in 2021. China is one of the leading countries advancing in quantum secure communication. It has developed various technologies essential for space quantum secure communication prior to other nations. In addition, China is offering its citizens space-enabled quantum communication services and more. Such factors, coupled with government initiatives and the growing investment in such projects, will create lucrative opportunities for the market's growth in the region.

In Japan, the market players and government are exploring and investing in the quantum secure communication market. In India, the market's growth is at a nascent stage; however, the major players are expanding their businesses across the region, including India, to explore untapped markets and fulfill the unmet demand of the end-users.

Global Quantum Secure Communication Market Players
The major players operating in the market are highly investing in advancing technologies and R&D to enhance communication technology and cater to the needs of the end-users in the market. Further, the key players operating in the market are adopting various key strategies to gain major market share in the quantum secure communication market.

Major players in the global quantum secure communication market are:

Toshiba
Qubitekk, Inc.
SpeQtral
Quantropi, Inc.
BT Group
Quantum Communications Victoria
ID Quantique
Others
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This release was published on openPR.