Quantum secure communication market is presently worth USD 105.91 million and is poised to amplify at a CAGR of 19.01% over 2022-2030, thereby amassing a valuation of USD 506.83 million by end of the assessment timeline.
A secure encryption and secure data transfer between any two parties are made possible by quantum cryptography, which takes advantage of the quantum-mechanical features of light. Since quantum cryptography is based on the principles of quantum mechanics, a tried-and-true universal scientific model, rather than complicated mathematical algorithms, it offers a more practical and economical approach to securing communications with a nearly unbreakable method of information relay. Increased focus on cyber-security, an increase in the frequency of cyberattacks, and the development of advanced wireless networks are expected to fuel market expansion globally.
Certain factors that includes, rising investment in the defence sector, advancing technologies, and rising RD investments has boosted the market growth over the forecast period.
COVID-19 has positively impacted the market’s growth because of the increasing cyber-attacks during the pandemic. Also, the government and military had been focused more on adopting technologies including, quantum secure communication in order to safeguard vital data from hackers. All these had a positive impact on the market during the pandemic.
Also, the rising frequency of cyber-attacks, increase in focus on cyber-security and evolution of sophisticated wireless networks have also boosted the market growth. Additionally, quantum cryptography has also gained attention because of the increasing digitalization and the resulting rise in cyber-security risks and other threats. All these factors have fuelled the market growth over the forecast period.
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Segmental analysis of the Market:
Based on Type
- Quantum Key Distribution
- Quantum Teleportation
Based on Communication type
- Direct
- Indirect
Based on Application
- Military
- Government Agency
- Aerospace
- Business
- Others
Competitive Landscape:
Some of the prominent companies operating in the market are
- Toshiba
- Qubitekk, Inc.
- SpeQtral
- Quantropi, Inc.
- BT Group
- Quantum Communications Victoria
- ID Quantique
- Others
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Key Questions Answered:
- What is the growth rate of The Global Quantum Secure Communication Market?
- What are the primary growth determinants of the market?
- Which are the major regions constituting the geographical landscape of the market?
- Which are the prominent companies operating in the market?
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