Kenneth Research, in its repository of market research reports, have recently added a report on Quantum Cryptography Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Quantum Cryptography Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Quantum Cryptography Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Get a Sample Copy of this Report with Graphs and Charts >> https://www.kennethresearch.com/sample-request-10325258
Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Quantum Cryptography Market is valued approximately at USD 142.53 million in 2019 and is anticipated to grow with a healthy growth rate of more than 38.2% over the forecast period 2020-2027. Quantum Cryptography incorporates the application of physics data with an objective to develop a cryptosystem that is not easily exploitable. It is an type of coding in which the program writer coverts math to physics for higher security reasons. Quantum cryptography aims at the fortification of data or the valuable information of the association from hackers or code breakers. Quantum Key distribution (QKD) is an enormously popular cryptographic application. It includes encoding and sending the needed information for decryption. The Quantum cryptography market is chiefly driven owing to surging cyber-attacks incidents in the trending era of digitalization and escalating cyber security funding by both public and private organizations. As in March 2018, Sam Sam ransomware cyberattack was activated in Atlanta, US.
The cyberattack consisted guesstimating weak passwords and encrypting files leading to data leakage and financial losses. Hence the rising cases of cyberattacks drive the market towards growth. Also, as in April 2020, the government of India, collaborated with the Data Security Council of India (DSCI) to establish a national center of excellence with an aim to increase innovation in the Indian cybersecurity market. Furthermore, rising demand for next-gen security solutions and surging need for integrations solutions in the business world fuels the market growth. However, lack of skilled expertise impedes the growth of the market over the forecast period of 2020-2027.
The regional analysis of global Quantum Cryptography market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the high adoption of advanced technology in the region coupled with increased demand for high security and integrated solutions. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising digitalization coupled with increasing investments in increasing security would create lucrative growth prospects for the Quantum Cryptography market across Asia-Pacific region.
Major market player included in this report are:
ID Quantiques SA
Anhui Qasky Science and Technology Ltd
Quintessence Labs Pty Ltd.
1QBit Information Technologies
River Lane Research
Interuniversity Microelectronics Centre (Imec)
Aliyun / Alibaba Cloud
Get a Sample PDF of report–https://www.kennethresearch.com/sample-request-10325258
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By End User:
IT & Telecommunications
Government & Defense
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Ask for it and browse full report- https://www.kennethresearch.com/sample-request-10325258
Target Audience of the Global Quantum Cryptography Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion)
1.2.1. Quantum Cryptography Market, by Region, 2018-2027 (USD Billion)
1.2.2. Quantum Cryptography Market, by Offering, 2018-2027 (USD Billion)
1.2.3. Quantum Cryptography Market, by Application, 2018-2027 (USD Billion)
1.2.4. Quantum Cryptography Market, by End User, 2018-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Quantum Cryptography Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Quantum Cryptography Market Dynamics
3.1. Quantum Cryptography Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Quantum Cryptography Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2. PEST Analysis
Request For The Sample Report Here: https://www.kennethresearch.com/sample-request-10325258
About Kenneth Research:
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
Phone: +1 313 462 0609