Global Quantum Secure Communication Market Analysis by Type, Application, Region and segments forecast till 2033

Market Overview

The global Quantum Secure Communication market is presently worth USD 105.91 million and is expected to expand with a CAGR of 19.01% over 2023-2033, thereby amassing a valuation of USD 506.83 million by end of the forecast period.

Report Scope

Global Quantum Secure Communication Market- Description

The second generation of the conventional internet, the quantum internet, has garnered interest from governments and the general public as well as academics and engineers from all around the world. Quantum communication is crucial to the quantum internet because it can securely and efficiently connect all the nodes. For instance, quantum cryptography, which is based on physics rather than mathematics, enables the unconditional security of information exchange between two distant parties. In recent years, quantum communication has quickly advanced in theory and practice, and its range has been increased to thousands of kilometers. There are numerous quantum communication networks accessible in numerous nations.

Quantum physics is utilized in quantum communication to safeguard data. These rules enable particles to assume a state of superposition, which means they can concurrently represent various combinations of 1 and 0, which is often the case for photons of light used for data transmission through optical cables. Qubits, also referred to as quantum bits, are the particles.

Rising internet penetration and more use of smartphone all around the world will aid the market expansion. The global commerce in ICT goods and services is expected to increase, which will primarily fuel the growth of the quantum secure communication market. ICT exports climbed internationally from 11.164 percent of all exports of products in 2017 to 11.53 percent of all exports of goods in 2019, according to World Bank statistics.

Global Quantum Secure Communication Market- Key trends

·         Increase use of ICT will help the market to increase in the further coming years

Additionally, it is projected that rising ICT spending globally on hardware, software, services, new technologies, and telecom, among other things, will aid in the market's expansion in the years to come. According to industry experts, spending on innovative technologies was anticipated to be over 0.6 million USD in 2018 and to be close to 1.3 million USD by 2023. The entire amount spent on ICT worldwide was close to USD 5 million in 2019, and it is expected to reach USD 6 million by 2023.

·         Rising internet penetration and more use of smartphone will aid the market expansion

The Quantum Secure Communication Market is anticipated to expand significantly at a substantial CAGR, thanks to increasing smartphone adoption and global internet penetration. According to GSMA Intelligence figures, there were 5.24 billion unique mobile customers worldwide as of May 2020.

Global Quantum Secure Communication Market- Segmental assessment

By type

·         Quantum key distribution

·         Quantum teleportation

Quantum key distribution hold the largest market share and is expected to grow further in the upcoming years. QKD entails transferring encrypted data as traditional bits through networks, while the keys to the information's decryption are encoded and sent using qubits in a quantum state.

By application

·         Military

·         Government agency

·         Business

·         Others

Global Quantum Secure Communication Market- Geographical landscape

The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, North America is projected to capture a substantial revenue share over 2023-2033.

Global Quantum Secure Communication Market: Recent Developments

·         In March 2021, ID Quantique announced that it had partnered with Toshiba to develop a new quantum key distribution (QKD) system that would offer higher levels of security and faster speeds. This partnership was aimed at meeting the growing demand for quantum secure communication solutions.

·         In January 2021, QuintessenceLabs announced that it had partnered with Seagate Technology to develop a new high-capacity encryption solution for data storage. This solution was based on QuintessenceLabs' quantum key distribution technology and was aimed at providing greater security for sensitive data.

·         In November 2020, NEC announced that it had developed a new quantum cryptography technology that could be used to secure communication networks. The technology was based on NEC's quantum key distribution system and was aimed at providing a more secure alternative to conventional encryption methods.

·         In October 2020, Toshiba announced that it had developed a new quantum key distribution system that could transmit secure keys over longer distances than previously possible. The system was based on Toshiba's advanced photonics technology and was aimed at meeting the growing demand for quantum secure communication solutions.

·         In September 2020, MagiQ Technologies announced that it had partnered with Keysight Technologies to develop a new quantum random number generator (QRNG) for use in secure communication applications. The QRNG was based on MagiQ's quantum technology and was aimed at providing greater security for critical communications.

Global Quantum Secure Communication Market: Key Companies

·         Cloud Security Alliance

·         Qubitekk

·         Quintessence Labs

·         MagiQ Technologies

·         Smart Quantum

·         Hewlett-Packard

·         Nano-Meta Technologies

·         ID Quantique

·         Post-Quantum

·         Richard Moulds

·         Wickr

·         Virtru.

·         Others

Global Quantum Secure Communication Market: Regional Scope            

North America

·         U.S.

·         Canada

·         Mexico

Europe

·         U.K.

·         Germany

·         France

·         Italy

·         Spain

·         Rest of Europe

Asia Pacific

·         China

·         India

·         Japan

·         South Korea

·         Australia

·         Rest of Asia Pacific

South America

·         Brazil

·         Argentina

·         Rest of South America

Middle East and Africa

·         Saudi Arabia

·         UAE

·         Egypt

·         South Africa

·         Rest of Middle East and Africa

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