The Quantum Cryptography Market is at a nascent stage with massive potential to break through the cybersecurity industry. The quantum cryptography market players are constantly engaging themselves in advancing their features intending to offer highly secured solutions to their clients. The rise in quantum computing has led to the surge in expose of confidential data across industries. Owing to this, several end users of encryption solutions are investing significant amounts in procuring advanced data security solutions and services such as quantum cryptography.
The growing numbers of cybersecurity threats have given rise to essential requirements for implementing security solutions for enterprises, different industries, as well as governments. The threat of losing data and the impact of potential cyber threats are the two chief factors that would be contributing to the quantum cryptography market grow in the coming years. Majority of the large enterprises in North America are already working toward implementing enhanced security Solutions to protect critical data and infrastructure from unauthorized access.
The US is accelerating research in quantum technology. Further, the US Government is also developing other quantum technology. In 2018, the US President launched the U.S. National Quantum Initiative Act. The Act involved funding of US$ 1.25 Bn funding for a synchronized multiagency program to fund research, foster development of quantum information technology, as well as encourage industry participation for the first five years.
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The governments of different countries across the globe as well as various private organizations are significantly investing in cybersecurity. This is majorly attributed to secure critical data from unauthorized individuals while transferring. The enhanced security solutions offered by the market players including Quantum Key Distribution (QKD), virtual encryptor, quantum cryptography communication device and Quantum Random Number Generator (QRNG) among others facilitate in strongly encrypting critical data. This factor is attracting several governments and industries to invest in such advanced technology. Thus, the rising investment towards cybersecurity solutions is a key catalyzer for quantum cryptography market.
The above listing of key players is based on multiple factors such as overall revenue, solutions and services portfolio, new solution launches, market initiatives, investment in technology upgradation, mergers & acquisitions and other joint activities. Companies have taken several market initiatives to expand their footprint across the world and to fulfill the growing demand of the market.
Top Listed Companies in Quantum Cryptography Market are –
Some of the key players operating in the quantum cryptography market include ID Quantique, Infineon Technologies, Magiq Technologies, IBM, NuCrypt, Anhui Qasky Quantum Technology Co. Ltd., Qubitekk, Quintessence Labs, Qutools GmbH, and Toshiba Corporation, among others. Several other players are also operating in the field, and are contributing substantial revenue generation in the market.
In 2019 - Europe
IDQ announced its partnership with Dacoso, for providing provide a future-proof path to Flexible and Agile Security to further enhance the dynamic performance of networks as well as safeguard the highest level of security.
In 2019 - North America
Thales announced its collaboration with ID Quantique (IDQ) and ISARA Corp., to focus on a crypto-agile, quantum-safe solution basically designed to safeguard against the security threat of quantum computing.
In 2019 - APAC
QuintessenceLabs, Vault Cloud, and Ziroh Lab came together to launch secure and scalable package to be used for enterprise file sharing and synchronization systems across Australia.
In 2019 - North America
IBM announced its new quantum computer named as- “IBM Q System One”. It is a 20-qubit quantum computer used for fully integrated universal quantum computing system designed specifically for scientific and commercial applications.
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