Global Quantum Cryptography Market - Industry Trends and Forecast to 2028

Global Quantum Cryptography Market - Industry Trends and Forecast to 2028
Quantum cryptography market is expected to reach USD 2587.70 million by 2028 witnessing market growth at a rate of 38.10% in the forecast period of 2021 to 2028. Data Bridge Market Research report on quantum cryptography market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth.
To build a cryptosystem, quantum cryptography relies more on contemporary knowledge of physics. In order to accomplish cryptographic tasks, quantum cryptography can be described as the manipulation of quantum mechanical properties. The main advantage of quantum cryptography lies in the claim that it makes it impossible to infer several cryptographic tasks that are verified or hypothesised using only non-quantum communication modes.
Increasing demand for next-generation security solutions for cloud and internet of things technologies, surging levels of investment for the growth of the cybersecurity market, rising number of cyberattack in the era of digitalization, evolution of next generation wireless network technologies, growing software firms globally, especially in developing countries are some of the major as well as vital factors which will likely to augment the growth of the quantum cryptography market in the projected timeframe of 2021-2028. On the other hand, rising need for integration solutions along with increasing demand for security solutions across industry verticals which will further contribute by generating massive opportunities that will lead to the growth of the quantum cryptography market in the above mentioned projected timeframe.
Increasing cost of implementation along with lack of expertise which will likely to act as market restraints factor for the growth of the quantum cryptography in the above mentioned projected timeframe. Commercialization of cryptography along with technical as well as implementation issues which will become the biggest and foremost challenge for the growth of the market.
This quantum cryptography market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on quantum cryptography market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Quantum Cryptography Market Scope and Market Size
Quantum cryptography market is segmented on the basis of component, algorithm type, enterprise size, encryption type, deployment protocol, application and vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
• Quantum cryptography market on the basis of component has been segmented as hardware, software, and services. Hardware has been further segmented into server, blade, R&D platform, and random number generator. Software has been further segmented into encryption, transmission, post-quantum cryptography, and crypto libraries. Services have been further segmented into consulting services, integration and deployment services, and support and maintenance services.
• Based on algorithm type, the quantum cryptography market has been segmented into symmetric key, and asymmetric key.
• On the basis of enterprise size, the quantum cryptography market has been segmented into small and medium enterprise (SMEs), and large enterprise.
• Based on encryption type, the quantum cryptography market has been segmented into network encryption, database encryption, application security, and cloud encryption.
• On the basis of deployment protocol, the quantum cryptography market has been segmented into TSL/SSL protocol, and BB84 protocol.
• On the basis of application, the quantum cryptography market has been segmented into simulation, optimization, and sampling.
• Quantum cryptography has also been segmented on the basis of vertical into government, healthcare, automotive, manufacturing, banking, financial services and insurance (BFSI), IT and telecom, defence, education, and others. Others have been further segmented into energy and utilities, and logistics.

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