Quantum Cryptography Global Market Report 2024 - By Trends, Size, Share, Growth And Demand, Forecast To 2033

"The new report published by The Business Research Company, titled Quantum Cryptography Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the quantum cryptography market size has grown exponentially in recent years. It will grow from $0.60 billion in 2023 to $0.83 billion in 2024 at a compound annual growth rate (CAGR) of 37.8%. The quantum cryptography market size is expected to see exponential growth in the next few years. It will grow to $3.03 billion in 2028 at a compound annual growth rate (CAGR) of 38.1%.

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Cyberattacks Driving Quantum Cryptography Market Growth
The rising number of cyberattacks is expected to propel the growth of the quantum cryptography market going forward. A cyberattack is a deliberate and malicious attempt to disrupt, damage, or gain unauthorized access to computer systems, networks, or digital devices. The number of cyberattacks is rising due to increased connectivity through more internet-connected devices, evolving attack techniques by cybercriminals, the shift to remote work creating new vulnerabilities, economic incentives driving cybercrime, nation-state-sponsored attacks, and supply chain vulnerabilities. Quantum cryptography provides a promising avenue for enhancing cybersecurity by offering stronger security guarantees and resistance to emerging threats, particularly those posed by quantum computing. For instance, in November 2023, according to the Department of Defense, an Australia-based government department, the Australian Cyber Security Centre received over 94,000 reports of cybercrime in 2022, marking a 23% increase from the previous year. Therefore, the rising number of cyberattacks is driving the growth of the quantum cryptography market.

Innovation In Open-Source Post-Quantum Cryptography Library
Major companies operating in the quantum cryptography market focus on developing innovative technologies, such as an open-source post-quantum cryptography library, to help businesses protect their data from current and future security threats. Open-source post-quantum cryptography is a cryptographic system developed through open-source projects that aim to support the transition to quantum-resistant cryptography. For instance, In May 2024, Terra Quantum AG, a Switzerland-based quantum technology company, launched TQ42 Cryptography, an open-source post-quantum cryptography library designed for secure data transmission, storage, and authentication. This technology offers accessible integration of quantum-resistant security measures into applications, ensuring long-term protection against future quantum computing threats. It is scalable and adaptable and spans mobile, web, IoT, and cloud platforms. As an open-source project, it provides flexibility for exploring ready-made solutions or creating proprietary quantum cryptography.

The quantum cryptography market covered in this report is segmented -
1) By Type: Quantum Key Distribution, Quantum Random Number Generation, Other Types
2) By Component: Solutions, Services
3) By Applications: Network Security, Application Security, Database Security
4) By End-Users: Information Technology and Telecommunications, Banking, Financial Services, and Insurance, Government and Defense, Healthcare, Other End-Users

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Major companies operating in the quantum cryptography market are Google LLC, Microsoft Corporation, Intel Corporation, International Business Machines Corporation, Hewlett Packard Enterprise company, Toshiba Corporation, Thales Group, Infineon Technologies AG, PQ Solutions Limited, Quantum Machines, QuantumCTek Co. Ltd., ID Quantique SA, QuintessenceLabs Pty Ltd., SandboxAQ, ISARA Corporation, MagiQ Technologies Inc., QCI Quantum Computing Inc., D-Wave Systems Inc., Agnostiq Inc., Qnu Labs Private Limited, Qubitekk Inc., Quside Technologies S.L., Quantum Xchange, Crypta Labs Ltd., Kets Quantum Security Ltd., LuxQuanta Technologies

Contents of the report:
1. Executive Summary
2. Quantum Cryptography Market Report Structure
3. Quantum Cryptography Market Trends And Strategies
4. Quantum Cryptography Market - Macro Economic Scenario
5. Quantum Cryptography Market Size And Growth
…..
27. Quantum Cryptography Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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