Global Quantum Cryptography Market 2017-2021
About Quantum Cryptography
Quantum cryptography can be defined as the method of manipulating the properties related to quantum mechnanics in order to carry out cryptographic tasks. Quantum cryptography is an approach to securing communications or an unhackable way of communicating information. Quantum cryptography is the combination of quantum mechanics and the art of code-making. Quantum key distribution (QKD) is one of the known applications of quantum cryptography. QKD solves the problem of key exchange security. It also creates a highly secure key between distant parties with single photons to transmit each bit of the key. Fiber optic cables or free space atmospheric transmission are used in terrestrial QKD networks for governing and regulatory bodies such as secure bank transactions and data transfers.
Technavio’s analysts forecast the global quantum cryptography market to grow at a CAGR of 33.22% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global quantum cryptography market for 2017-2021. To calculate the market size, the report considers the revenue generated from quantum cryptography solutions provided to end-users including large enterprises, small and medium-sized enterprises (SMEs), and governing and regulatory bodies.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Quantum Cryptography Market 2017-2021
Technavio recognizes the following companies as the key players in the global quantum cryptography market: HP Development Company, ID Quantique, IBM, and Nokia.
Other Prominent Vendors in the market are: Airbus, Alibaba Group, BT, Google, Infineon Technologies, Intel, KPN, Lockheed Martin, MagiQ Technologies, McAfee, Microsoft, Mitsubishi Electric, NEC Corporation, NTT Communications, QuintessenceLabs, Raytheon, SK Telecom, and Toshiba.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is advent of integrated security solutions. End-users prefer quantum cryptography integrated and converged with security solutions that provide overall security to the devices and the network. This is because different standalone security solutions may lead to integration issues. Integrated security solutions offered by the vendors provide better support and functionality to customers.”
According to the report, one driver in market is adoption of the crypto cloud computing system. Crypto cloud computing is built on the quantum direct key system. Each entity encrypts data using their individual private key while using crypto cloud computing systems. These crypto cloud computing systems are being rapidly adopted for authentication processes, video management systems, and for storing information gathered from biometrics. Many enterprises including banks and healthcare organizations are storing their confidential data on the cloud, which makes it important to secure the cloud from unauthorized access. The adoption of crypto cloud computing systems is escalating faster in small and medium sized business (SMBs) when compared to large enterprises as cloud-based services work on a pay-per-use model. These systems also offer flexibility and scalability to accommodate the varying needs of the enterprises.
Further, the report states that one challenges in market is intense competition among the vendors. New vendors are entering the market through partnerships and acquisitions, leading to intensified competition in the market landscape. This is forcing the existing vendors to develop advanced quantum cryptography solutions to remain competitive in the market. Some vendors like Symantec, are also introducing customized solutions for specific customer requirements. As many vendors provide quantum cryptography solutions, the chances of price wars have also increased. Thus, intense competition in a highly-fragmented market will affect the profit margins of the vendors, and also the overall revenue generated in the market.
HP Development Company, ID Quantique, IBM, Nokia, Airbus, Alibaba Group, BT, Google, Infineon Technologies, Intel, KPN, Lockheed Martin, MagiQ Technologies, McAfee, Microsoft, Mitsubishi Electric, NEC Corporation, NTT Communications, QuintessenceLabs, Raytheon, SK Telecom, Toshiba.
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