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Quantum Cryptography Market Beyond Surveys and Analytics Uncovering Consumer Insights with Ethnography Techniques | QuintessenceLabs, Quside Technologies, MagiQ Technologies

Quantum Cryptography Market Beyond Surveys and Analytics Uncovering Consumer Insights with Ethnography Techniques | QuintessenceLabs, Quside Technologies, MagiQ Technologies

Report Ocean is a comprehensive analysis of the “Quantum Cryptography Market”  that includes both qualitative and quantitative data. The report covers various regions and provides insights into major industry changes, challenges faced by businesses and competitors, and potential new opportunities in the market. It also includes a SWOT analysis, Porter’s Five Forces model, and a value chain review to help readers understand the industry’s position in the market and the stakeholder positions.

Global Quantum Cryptography Market Soars to USD 111.6 Million in 2022, Anticipates a Staggering 19.8% Growth by 2030

Refreshed Content:

The Global Quantum Cryptography Market, valued at USD 111.6 million in 2022, is poised for robust growth, with an expected growth rate exceeding 19.8% from 2023 to 2030. Quantum cryptography, leveraging the principles of quantum mechanics, ensures secure communication by focusing on the confidentiality and integrity of information exchanged between two parties. Key drivers for market growth include increased government funding for cybersecurity, a surge in demand for next-generation security solutions for cloud and IoT technologies, and the evolution of next-generation wireless network technologies.

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Additionally, the rising concerns about cyberattacks in the digitalization era are further contributing to market expansion around the world. Quantum cryptography has the potential to give higher security assurances than conventional cryptographic techniques, making it a suitable choice for companies and governments to improve data security. According to the report of Israel21c in 2021, cyber-attacks have increased to around 225% in the past three years from 2018 to 2021. In 2021, nearly 85% of cyber-attacks were carried out remotely, and 40% of attacks targeted back-end servers.

Additionally, in 2021, about 54.1% of attacks took place by Black Hat hackers which is up from 49% in 2020. It includes 38% data/privacy breaches, 27% car theft /break-ins, and 20% control system attacks. Thus, these aforementioned factors are fueling the growth of the Quantum Cryptography Market during the estimated period. Moreover, the spur in demand for security solutions across industry verticals, as well as the increasing need for integrated solutions present various lucrative opportunities over the forecast years. However, the unavailability of skilled professionals and the high implementation cost are challenging the market growth throughout the forecast period of 2023-2030.

Market Dynamics:

The key regions in the Global Quantum Cryptography Market study include Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. North America dominated the market in 2022 due to increased cybersecurity funding, high demand for next-gen security solutions, the evolution of wireless network technologies, and various partnerships fostering apprenticeship programs. Asia Pacific is expected to exhibit the highest CAGR over the forecast years, propelled by rising cyberattacks, supportive government regulations for data security, the growing trend of the Internet of Things (IoT), and the emergence of Quantum Key Distribution (QKD) solutions.

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Major Market Players:

Key players in the market include QuintessenceLabs. (Australia), Quside Technologies (Spain), MagiQ Technologies (U.S.), Toshiba Digital Solutions Corporation (Japan), QNu Labs Private Limited. (India), KETS QUANTUM SECURITY LTD. (U.K.), LuxQuanta Technologies S.L. (Spain), Quantum Xchange. (U.S.), ID Quantique (Switzerland), and Qrypt (U.S.).

Recent Developments:

  1. In May 2023, Amazon Web Services launched two quantum computing skill-development programs in India, collaborating with educational institutions to integrate Amazon Braket, a fully managed quantum computing service, into courses.
  2. In May 2021, QNu Labs introduced a QRNG chip and QKD system with a range beyond 100 km, focusing on expanding its market presence in India.

Objective of the Study:

The study aims to define market sizes of different segments & countries in recent years and forecast values for the coming years. The report incorporates both qualitative and quantitative aspects of the industry within countries involved in the study.

The report provides detailed information about crucial aspects such as driving factors, challenges, potential opportunities in micro markets, competitive landscape analysis, and product offerings of key players. The detailed segments and sub-segments of the market are explained below:

By Type:

  • Quantum Key Distribution
  • Quantum Random Number Generation
  • Others

By Security Type:

  • Application Security
  • Network Security

By Industry:

  • BFSI
  • Cloud & Datacentre
  • Government
  • Energy & Utilities
  • Healthcare
  • Automotive
  • Others

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By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • ROE
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • RoAPAC
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle East & Africa

Report Scope:

  • Historical Data: 2020 – 2021
  • Base Year for Estimation: 2022
  • Forecast Period: 2023-2030
  • Report Coverage: Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends
  • Segments Covered: Type, Security Type, Industry, Region
  • Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
  • Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

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Advantages of Opting for Our Market Research Report:

Strategic Decision-Making:

Our market research reports provide invaluable insights for strategic decision-making. By analyzing industry trends, market dynamics, and emerging opportunities, businesses can make informed choices that align with their long-term goals and objectives.

Market Understanding:

A comprehensive understanding of the market is crucial for success. Our reports delve deeply into market size, segmentation, and growth drivers, ensuring businesses have a nuanced comprehension of the landscape they operate in, aiding in effective planning and execution.

Competitive Intelligence:

Staying ahead of the competition is paramount. Our reports offer detailed competitive intelligence, highlighting key players, their market share, strategies, and strengths. This enables businesses to identify opportunities for differentiation and develop robust strategies for sustainable growth.

Customer Insights:

Understanding customer behavior is fundamental to success. Our research provides in-depth customer insights, including preferences, buying patterns, and needs. This information is instrumental in tailoring products and services to meet customer expectations and enhance overall satisfaction.

Risk Mitigation:

Every business venture involves risks, and our reports are designed to identify and assess potential risks within the industry. This proactive approach empowers businesses to develop risk mitigation strategies, ensuring resilience in the face of challenges and uncertainties.

Investment and Funding Decisions:

For investors and stakeholders, our reports offer a reliable foundation for investment decisions. Through thorough analysis of market trends and growth projections, we provide essential information to support sound investment and funding choices, maximizing returns on investment.

Validation and Credibility:

Our market research reports undergo rigorous analysis and validation processes, ensuring the credibility of the information presented. Businesses can rely on our reports as trustworthy sources, fostering confidence in decision-making processes and strategic planning.

Long-term Business Planning:

Successful businesses thrive on effective long-term planning. Our reports provide a forward-looking perspective, forecasting industry trends and potential challenges. This foresight is indispensable for crafting robust business plans that stand the test of time and dynamic market conditions.

Key Questions Answered by the Report:

  • What are the driving factors for market growth?
  • What challenges and limitations does the market face?
  • What emerging opportunities exist in the market?
  • What potential threats and risks could impact the market?
  • What is the current market size and growth rate?
  • What are the market segments and their sizes?
  • Which regions are projected to experience the highest growth and market share?
  • What variables affect different geographical areas?
  • Who are the major players in the market and their rankings?
  • What recent partnerships, launches, expansions, or acquisitions have occurred among the companies profiled?
  • What are the comprehensive profiles of the top market players, including business overview, insights, product benchmarking, and SWOT analysis?
  • What is the present market outlook, considering recent changes and growth possibilities?
  • What are the drivers, obstacles, and restrictions in both developing and emerging regions?
  • How does the market analysis utilize Porter’s five forces analysis?
  • How does the Value Chain provide insights into market dynamics?

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About Report Ocean:

Report Ocean stands as a preeminent provider of market research reports within the industry. Renowned globally, we are acclaimed for delivering insightful and informative research reports. Our commitment lies in furnishing clients with a comprehensive blend of both quantitative and qualitative research outcomes. As an integral component of our expansive global network and thorough industry coverage, we offer an in-depth reservoir of knowledge that empowers strategic and well-informed business decisions. Our approach integrates cutting-edge technology, advanced analysis tools, and our proprietary research models, all underpinned by years of expertise. This synergy allows us to craft essential details and facts that consistently surpass expectations.

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