High Adoption of BYOD to Propel Quantum Cryptography Market

San Francisco, California, October 09, 2018: Quantum cryptography may be described as a way to generate a cryptographic key. This is carried out by use of photons which transmitting them onto a receiver through a suitable channel of communication. A recent intelligence study by TMR Research, titled as “Quantum Cryptography Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” talks about the general market scenario, its drivers, trends, and possible restraints. The report additionally delves into the competitive landscape of the global quantum cryptography market, elucidating on the strategies to be adopted by vendors in order to gain market traction over the forecast period of 2017 to 2025.

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The surge in use of computer networks in the application of communication and business transactions, which may consist of confidential information is augmenting the need for encryption solutions data security from prying eyes. The rising demand for securing data while countering cyber security concerns is a prominent factor driving the global quantum cryptography market.

There has been wave of users bringing in their own devices (BYOD) to which has bolstered the sales of the quantum cryptography market. As BYOD enables an employee access to confidential data on their personal devices, it is necessary to protect these from internet threats or hacking. The defense sector is additionally driving demand to a great extent for such solutions. These factors are zeroed in to have a positive impact on the global quantum cryptography market.

Recently, Quintessence Labs notified the a PCIe version of their qStream quantum random number generator (QRNG), the qStream 100P, which provides 100% entropy at the rate of 1 Gb/s, offering a robust solution to the strength and speed issues of pseudo-random cryptographic applications.

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In terms of geography, North America is anticipated to emerge as a significant region over the coming years. Additionally, Asia Pacific and Europe are also predicted to witness high growth potential in the years to come.

The competitive ecosystem of the global quantum cryptography market presently features fragmentation, due to presence of large pool of players, both local as well as international. Key vendors operating in the global quantum cryptography market are Infineon Technologies, ID Quantique, Lockheed Martin, QuintessenceLabs, and Raytheon, among several others.

Quantum Cryptography Market Opening New Revenue Avenues by 2025

Global Quantum Cryptography Market: Overview

With growing popularity of the Internet, which has turned into a necessity in the past decade, and the ubiquity of smartphones, the need for secure communications, data safety, and protection against cyber-attacks has escalated exponentially. Quantum cryptography is a dependable solution for growing data security issues, but unlike typical cryptology methods, quantum cryptology depends on physics rather than mathematics, and the market for the same is expected to expand at a strong CAGR during the forecast period of 2017 to 2025.

Based on end-user, the global cryptography market can be segmented into governing and regulatory bodies, small and medium enterprises (SMEs), and large enterprises. Geographically, the report studies the opportunities available in cryptography market in several important regions including Asia Pacific, North America, Europe, and the Middle East and Africa. The report has been prepared to act as a credible business document for the stakeholders of this market, and estimates the future scenario until 2025.

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Global Quantum Cryptography Market: Key Trends

The growing demand of bring your own device (BYOD) across several organizations is the primary driver of the global quantum cryptography market. With BYOD policies, employees can access organizational data and applications on their personal electronic devices such as tablets, smartphones, laptops, and desktops, which in turn provides flexibility to work from any location, at any time. BYOD goes a long way in improving productivity and reducing operational costs. Growing use of cyber security solutions in public utilities, escalating need for cyber security in the defense sector, incoming demand from business enterprises, and the need for secure internet transaction are some of the other factors augmenting the demand in the global quantum cryptography market.

Currently, government bodies are the most profitable end user segment in the global quantum cryptography market, gaining from factors such as the availability of online utility bill payments, adoption of e-government initiatives, and growing number of corporate accounts that these agencies need to manage. This segment is expected to remain most prominent throughout the forecast period.

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Global Quantum Cryptography Market: Market Potential

Incrementing use of biometrics for network security is opening new revenue avenues for the vendors operating in the quantum cryptography market. Facial and fingerprint recognition are now frequently used for security purposes at various organizations such as financial services, banking, and insurance (BFSI) and healthcare. By integrating biometric technology with software types, data transmitted via emails can be secured. For instance, Ceelox, a key biometric services company, already provides software application that offer information encrypting and decrypting in emails.

Global Quantum Cryptography Market: Regional Outlook

In the recent past, North America is the most lucrative region for the players in quantum cryptography market, which is a reflection of prevalence of insider frauds in several organizations, popularity of ecommerce and online payments, adoption of new technology, and rising number of cyber-attacks. North America is expected to remain the most prominent region throughout the forecast period, although Asia Pacific and Europe are also anticipated to present healthy opportunities in the near future.

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Global Quantum Cryptography Market: Competitive Landscape

The fragmented nature of quantum cryptography market is a result of a large number of participants, both multinational and local. As the demand for quantum cryptography solutions diversifies across other sectors, technological innovation and solution extension is expected to determine the leader of the market in the near future.

HP Development Company, ID Quantique, IBM, and Nokia are some of the key players in the global quantum cryptography market, while other notable players are Google, Intel, QuintessenceLabs, Alibaba Group, Infineon Technologies, BT, KPN, MagiQ Technologies, Lockheed Martin, McAfee, Microsoft, NEC Corporation, Mitsubishi Electric, NTT Communications, Raytheon, Toshiba, and SK Telecom.

Escalating Need for Cyber Security Driving Quantum Cryptography Market

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.