San Francisco, California, June 23, 2017: The global quantum cryptography market is anticipated to witness substantial growth owing to rising need for data security to protect IT organizations coupled with increasing number of security issues across the world. TMR Research prophesied to experience a rapid growth on account of increasing investments in research and development efforts across the world. The report is titled “Quantum Cryptography Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025”.
Growing demand from business enterprises and major need for cyber security in the defense sector are some of the primary factors fueling the demand in the global quantum cryptography market. In addition, increasing need secure data transmission methods in order to protect data from fraudulent activities in all range of enterprises and governing bodies is likely to boost the market of quantum cryptography. Increasing usage of biometrics for securing network bringing new opportunities for the vendor’s active in the quantum cryptography market.
Currently, biometrics system is mostly used for security purposes in different services such as insurance and healthcare, financial services, and banking services. Additionally, quantum cryptography allows your personal electronic device to access organizational data due to that demand for carrying your personal device in organizations is growing over the years. However, there are some factors in which quantum cryptography lacks behind such as complex algorithm to implement and increasing number of advanced hackers, so it’s necessary to overcome these issues to eliminate the security threat.
In terms of application, the global market for quantum cryptography can be divided into banking and financial services, aerospace and defense, homeland security, and governments. The adoption of quantum cryptography is growing substantially in the government departments and defense sector. By geography, the global quantum cryptography market can be distributed across several regions such as North America, Asia Pacific, the Middle East and Africa, Europe, and Latin America.
The quantum cryptography market is likely to progress faster in the developed countries from North America region due to increasing popularity of ecommerce and online payments, rising number of cyber-attacks, and technological advancements. In addition, Europe and Asia Pacific regions are also expected to experience healthy growth in the coming years, owing to increasing government’s initiatives and policies coupled with rising demand from enterprises. The global market for cryptography is mostly used in the functioning of the government bodies.
The report projects IBM, ID Quantique, Nokia, Intel, Alibaba Group, BT, MagiQ Technologies, Toshiba, QuintessenceLabs, Google, SK Telecom, Lockheed Martin, NEC Corporation, NTT Communications, McAfee, Raytheon, Mitsubishi Electric, and Infineon Technologies as prominent players of the global quantum cryptography market.