Quantum Cryptography Market Size, CAGR, Demand Outlook, Trends Analysis to 2029

Quantum cryptographyalso known as quantum encryption applies principles of quantum mechanics to encrypt messages in a way that it is never read by anyone outside of the intended recipient. It takes advantage of quantum's multiple states, coupled with its "no change theory," which means it cannot be unknowingly interrupted. It is a technique of using photons to generate a cryptographic key and transmit it to a receiver using a suitable communication channel.

Quantum cryptographyis virtually un-hackable, simple to use, and does not require anyresources to maintain it. In addition, it is also used to detect monitorin quantum key distribution, because the fact that it is not possible to copy the data encoded in quantum state. It also secures communication by providing security based on fundamental law of physics instead of mathematical algorithms.

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Growth in number of cyber-attacks, rise in cyber security funding, increase in demand for next generation security solutions due to rise in penetration of cloud, and IoTdrive growth of the quantum cryptography market. However, lack of expertise and high cost hinders growth of the market. Furthermore, increase in awareness about cyber security among industrial vertical and users creates growth opportunity for the quantum cryptography market globally.

Quantum cryptography is based on the concept of photons. It uses movement of photon to detect cyber-attack while data transfer. Sudden change in movement and position of photon indicates threats and takes replay action by alerting security system immediately.

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Deployment cost of quantum cryptography is quite expensiveas it requires its own infrastructure,which hinders growth of the quantum cryptography market. In addition,it works over fairly short distances and to increase distance installation of repeaters and channels between source and destination is neccssary,which further increases its cost.

Key players in the market are IBM Corp., Microsoft Corp., Toshiba Corp., NuCrypt LLC, NEC Corp., PQ Solutions, Anhui Qasky Science and Technology Ltd, MagiQ Technologies, Inc, Infineon Technologies.

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Key benefits of the report:
• This study presents the analytical depiction of the global quantum cryptography industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis ofglobal quantum cryptography marketshare.
• scenario.marketgrowthThe current quantum cryptography market is quantitatively analyzed from 2019 to 2027 to highlight the global quantum cryptography
• Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides detailedquantum cryptography market analysis based on competitive intensity and how the competition will take shape in coming years.

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