Quantum Cryptography Market set for 27.0% CAGR Explosive Growth to 2022 - RnRMarketResearch
PUNE, India, November 15, 2017 /PRNewswire/ --
Quantum cryptography market size is expected to grow from $ 285.7 million in 2017 to $ 943.7 million by 2022, at a CAGR of 27.0%. With the growing incident of cyber-attacks, increasing data security and privacy concerns, rising adoption of cloud storage and computing technologies, and evolving next generation wireless networks is expected to be the major driver for enterprises, since the solution uses quantum properties of light that prevent the interception of messages, as well as standard computational procedures, which are designed to fight quantum attacks evolving due to an increase in the practices of quantum computation.
Browse 63 Market Data Tables and 35 Figures spread through 115 Pages and in-depth TOC on "Quantum Cryptography Market Global Forecast to 2022" http://www.rnrmarketresearch.com/quantum-cryptography-market-by-component-hardware-and-services-application-network-security-database-encryption-application-security-organization-size-vertical-and-region-global-forecast-to-2022-market-report.html.
North America is expected to hold the largest market share in the quantum cryptography market during the forecast period. With the rise in cyber-attacks due to the increasing adoption of encryption-based applications, and early adoption of BYOD, are driving the organizations in North America to adopt quantum cryptography solutions. Furthermore, the awareness for focusing on securing the applications, database, and networks is increasing in the business.
The major market players in the Quantum Cryptography market are ID Quantique (Switzerland), MagiQ Technologies (US), Nucrypt (US), Infineon Technologies (Germany), Qutools (Germany), Quintenssence Labs (Australia), Crypta Labs (UK), PQ Solutions (UK), and Qubitekk (US)
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Major challenging factor such as, low customer awareness about quantum cryptography, and lack of skill and expertise are hampering the growth of the market. The quantum cryptography market is witnessing a steady growth with increasing security threats, lacks of the ability to mitigate and respond to such attacks, and due to the low customer awareness about quantum cryptography.
With the increasing need of wireless communication and remote access security, quantum cryptography application provides protection on the usability and integrity of the network and data. The ongoing enhancements in the internet technology is continuously increasing and the advent of modern computers to support more and more remote computation has led to the increase in the requirement of network security for the secure transmission of data.
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The break-up of the profiles of the primary participants is as follows:
- By Company: Tier 1 - 30 %, Tier 2 - 40%, and Tier 3 - 30%
- By Designation: C-Level - 72%, Director Level - 14%, and Others - 14%
- By Region: North America - 57%, Europe - 14%, and APAC - 29%
The report includes an in-depth competitive analysis of the key players in the quantum cryptography market along with their company profiles, recent developments, and key market strategies. The report segments the quantum cryptography market component (hardware and services), application, organization size, vertical, and region.
Another research titled Quantum Computing Market Global Forecast to 2023 says, the quantum computing market is expected to grow at a CAGR of 29.04% between 2017 and 2023and is expected to be valued at $ 495.3 million by 2023. The key factors driving the growth of the quantum computing market are the rising incidences of cybercrime, early adoption of quantum computing technology in the automotive and defense industry, and increasing investments by government entities in the quantum computing market. North America is accounted for the largest share of the quantum computing market in 2016. Companies such as D-Wave Systems Inc. (Canada), IBM Corporation (US), Cambridge Quantum Computing Limited (US), 1QB Information Technologies Inc. (Canada), QC Ware Corp. (US), Magi Q Technologies (US), Research at Google (US), and Station Q- Microsoft Corporation (US). have been profiled in this 109 pages research report available at http://www.rnrmarketresearch.com/quantum-computing-market-by-revenue-source-application-simulation-optimization-and-sampling-industry-defense-banking-finance-energy-power-chemicals-and-healthcare-pharmaceuticals-and-geography-g-st-to-2023-market-report.html.
Explore more reports on Software & Enterprise Computing Market at http://www.rnrmarketresearch.com/reports/information-technology-telecommunication/software-enterprise-computing.
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