CHICAGO, UNITED STATES, July 4, 2023/EINPresswire.com/ — Global Quantum Secure Communication Market revenue was US$ 420.4 million in 2022 and is projected to attain a valuation of US$ 1,170.6 million by 2031, growing at a CAGR of 12.3% during the forecast period from 2023 to 2031.
𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/quantum-secure-communication-market
The quantum secure communication market is anticipated to expand quickly during the forecast period as standard encryption techniques become more susceptible to quantum attacks. The demand for secure communication solutions that employ quantum-resistant algorithms and technologies is anticipated to surge owing to the development of quantum computing, especially in sectors like finance, government, and healthcare. The market is anticipated to grow to be worth billions of dollars, opening doors for businesses that can offer dependable and effective quantum secure communication solutions.
Growing cybersecurity risks and rising investment in R&D activities are the main drivers of market growth. For instance, in 2022, there were more than 4,100 publicly reported data breaches, exposing around 22 billion records. Additionally, a hacker using the moniker “devil” announced on the hacking forum BreachForums in July 2022 that they were selling the data from 5.4 million Twitter accounts. In addition, on November 16, 2022, a hacker uploaded a file to BreachForums that purported to include the most recent personal data for 487 million WhatsApp users from 84 different countries. According to Cybercrime magazine, firms would suffer losses from cybercrime of almost $10.5 trillion in 2025, or $19,977,168 every minute.
𝐇𝐚𝐫𝐝𝐰𝐚𝐫𝐞 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭 𝐂𝐚𝐩𝐭𝐮𝐫𝐞𝐝 𝟔𝟒% 𝐨𝐟 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞
In 2021, the hardware segment dominated the global market with a revenue share of more than 64%. Among the primary hardware elements required for establishing quantum secure communication are quantum random number generators and quantum key distribution systems. The hardware sector is anticipated to continue holding a monopoly on the market because these components are difficult and expensive to create.
𝐆𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐃𝐞𝐟𝐞𝐧𝐬𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐞𝐝 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐨𝐟 𝐔𝐒$ 𝟖𝟖 𝐌𝐢𝐥𝐥𝐢𝐨𝐧
Government agencies must invest in cutting-edge cybersecurity solutions as they handle sensitive data and are susceptible to cyberattacks. Governments worldwide are investing more money in cybersecurity, with the U.S. spending over US$15 billion. In 2021, the defense sector invested more than US$ 40 billion in cybersecurity.
Governments and their assets continue to be vulnerable to cyberattacks despite increased investment. According to a U.S. Department of Homeland Security study, government agencies reported over 28,000 cyber incidents in 2020. In 2021, there were more than 6 billion cyberattacks globally that were directed at different industries.
𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐭𝐨 𝐂𝐚𝐩𝐭𝐮𝐫𝐞 𝐀𝐛𝐨𝐮𝐭 𝟒𝟎% 𝐨𝐟 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐯𝐞𝐧𝐮𝐞
With an anticipated revenue share of over 40%, the Asia Pacific region is likely to significantly impact the global quantum secure communication market. Numerous variables contribute to this expansion.
The region is home to some of the fastest-growing economies in the world, such as China, India, and Japan. In order to stay competitive in the global market, these nations are making significant investments in research and development, notably in quantum technologies. The demand for quantum secure communication technology is expected to increase as a result in the region.
Government and defense organizations that need the highest level of security for their communication channels are also prevalent in the Asia Pacific region for quantum secure communication. In order to protect their sensitive data from online attacks and espionage, many firms are embracing quantum secure communication solutions at an increasing rate. For instance, China’s first comprehensive data privacy law, the Personal Information Privacy Law (PIPL), went into effect on November 1, 2021. Additionally, the People’s Republic of China’s Civil Code, which will take effect on 1 January 2021, expressly guarantees the right to privacy and the protection of personal information.
In addition, the area is home to numerous businesses that create and manufacture quantum technology, with China rising as a major role. Notably, businesses like Alibaba and Huawei have substantially invested in R&D projects, resulting in the development of cutting-edge quantum secure communication technologies that are likely to drive market expansion in the region.
𝐓𝐨𝐩 𝟑 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐀𝐭𝐭𝐚𝐢𝐧 𝐚 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐒𝐡𝐚𝐫𝐞 𝐨𝐟 𝟐𝟒% 𝐢𝐧 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐐𝐮𝐚𝐧𝐭𝐮𝐦 𝐒𝐞𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐫𝐤𝐞𝐭
The market has a few significant competitors and is moderately competitive. IBM, Toshiba, and BT Group are the leading players in the market, with respective market shares of 12%, 9%, and 3%. These companies are concentrating on growing their international clientele. In order to expand their market share and profitability, these businesses are utilizing strategic collaboration projects.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/industry-report/quantum-secure-communication-market
The IBM Corporation is a pioneer in the field of quantum computing. They intend to introduce the IBM Quantum Condor device, which has 1,000 qubits, by the end of 2023 due to their quantum roadmap. By 2025, IBM hopes to have built a quantum computer with at least 4,000 qubits. The industry leader, IBM, has some of the most cutting-edge quantum computers available.
Another significant player in the market for quantum secure communication is Toshiba. In order to maintain data security, the company focuses on creating cutting-edge quantum cryptographic communication solutions. Several sectors, including finance, healthcare, and government, have embraced Toshiba’s Quantum Key Distribution (QKD) technology. Toshiba is able to offer cutting-edge quantum communication technologies because of ongoing R&D investments.
𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
• Amazon
• BT Group
• DTU
• IBM Corporation
• ID Quantique (IDQ)
• LIGENTEC
• Maxxen Group
• NanoSonic
• Oceanit
• Quantropi
• Quantum Communications Victoria
• Qubitekk
• SpeQtral
• Thales
• Toshiba
• Other Prominent Players
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐢𝐧𝐞
𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐪𝐮𝐚𝐧𝐭𝐮𝐦 𝐬𝐞𝐜𝐮𝐫𝐞 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐟𝐨𝐜𝐮𝐬𝐞𝐬 𝐨𝐧 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭, 𝐓𝐲𝐩𝐞, 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐚𝐧𝐝 𝐑𝐞𝐠𝐢𝐨𝐧.
𝐁𝐲 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭
• Hardware
• Software
• Services
𝐁𝐲 𝐓𝐲𝐩𝐞
• Quantum Key Distribution
• Quantum Teleportation
𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧
• Banking Industry
• Financial Industry
• Government and defense industry
• Lotteries and online gaming
• Business
• Others
𝐁𝐲 𝐑𝐞𝐠𝐢𝐨𝐧
• North America
o The U.S.
o Canada
o Mexico
• Europe
• Western Europe
The UK
Germany
France
Italy
Spain
• Rest of Western Europe
Eastern Europe
Poland
Russia
• Rest of Eastern Europe
Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• South Korea
• ASEAN
• Rest of Asia Pacific
Middle East & Africa (MEA)
• Saudi Arabia
• South Africa
• UAE
• Rest of MEA
South America
• Argentina
• Brazil
• Rest of South America
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/quantum-secure-communication-market
𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:
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Astute Analytica
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