Quantum Cryptography Market

Date: 2016-05

Quantum cryptography is basically the application of quantum mechanics to cryptography. The biggest advantage of using quantum cryptography is that it is possible to perform cryptographic tasks that were earlier deemed to be impossible using non-quantum techniques. Data that is encoded in a quantum state cannot be replicated and even when such data is just read, the state of the data stored in a quantum state changes. Detection of eavesdropping is something that quantum cryptography is best suited for. Quantum Cryptography was discovered at the Columbia University in the 1970s.

Quantum key distribution (QKD) is one of the most common applications of quantum cryptography. Quantum mechanics is used to secure communication between two parties and a secret random key is used to encrypt and decrypt the data. QKD only produces and distributes the random secret key and is not used for data communication per se. Standard communication channels are used for transmission of the data.

The need for securing data and counter the widespread cyber security concerns is a major factor augmenting the growth of this market. Governments and defense organizations and banks are some of the application segments that have already been using quantum key distribution for several years. Given the success rate of this technology, it is expected that quantum cryptography will be used for several more applications such as securing Internet transactions, large enterprises, and airports, among several others.

In terms of applications, the Quantum Cryptography Market has been segmented across the following Quantum Cryptography Market

Homeland Security, Aerospace and Defense, Governments, Banking and Financial Services and Others

Europe has been the leading region in terms of adoption of quantum cryptography. China, however, has invested significantly in research and development efforts and is expected to attribute to the high growth rate that Asia Pacific will exhibit till the end of the forecast period considered in this report. The market has been segmented based on the following geographies

North America, South America, APAC, Europe, Middle East and Africa

MagiQ Technologies, Inc., ID Quantique SA, SeQureNet and Quintessence Labs are the only four companies that offer quantum key distribution systems on a commercial scale. A majority of the players in the market are research arms of companies that are interested in the quantum cryptography market. Following are just a few of the companies that are operating in the Quantum Cryptography market.

Bell Labs, MagiQ Technologies, Inc., QinetiQ, HP Labs and Toshiba Research.

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