Quantum Cryptography Market 2017 Trends, Size, Segments and Growth by Forecast to 2023

Market Highlights:
The global quantum cryptography market is projected to witness a steady growth during the forecast period. Increasing concerns related to data security and privacy are preliminary factors driving the market. In addition, rise in use of cloud storage and computing technologies further fuel the market growth.  

The global quantum cryptography market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. As compared to other regions, the quantum cryptography market in Asia Pacific is expected to witness a significant growth during the forecast period. India and China are anticipated to drive the growth of the Asia Pacific quantum cryptography market owing to increasing concerns over data security and privacy. The market is likely to show immense growth in the coming future. North America has a well-established infrastructure, which allows higher penetration of devices and ultimately provides better connectivity. Advancements in the technology and shift towards community cloud are other major factors responsible for the growth of the quantum cryptography market.

In the global Quantum Cryptography Market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the growth in digital intelligent devices and digitization campaigns by Indian government.  

The global quantum cryptography market is projected to reach USD 640 Million at a CAGR of over 14% by the end of the forecast period 2017-2023.

Major Key Players:
·         PQ Solutions (U.K)
·         Infineon (Germany)
·         Qubitekk (U.S)
·         Quintessencelabs (Australia)
·         Nucrypt (U.S)
·         Crypta Labs (U.K)
·         Qutools (Germany)
·         Magiq Technologies (U.S)
·         NEC Corporation (Japan)
·         Toshiba (Japan)

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Global Quantum cryptography Market Segmentation:
The global quantum cryptography market is segmented on the basis of service, application, vertical, and component. The service segment is classified into support and maintenance services, deployment and integration services, consulting services. Based on application, the market is segmented into database encryption, application security and network security.

The vertical segment includes banking and financial services, consumer goods and retail, government and defense, it and telecom, healthcare and life sciences. Based on component the market is segmented into hardware and software. The deployment and integration services to hold the major share of the market owing to the increasing demand for secure data transmissions.

Market Research Analysis:
North America is estimated to account for the largest share of the market, whereas Asia Pacific market is projected to grow at the fastest rate during the forecast period.

The Asia Pacific market is witnessing rapid growth due to growth in digital data and digital intelligent devices which is further supplemented by digital India campaigns by the Indian government. The U.S. holds majority of the market share both in terms of revenue as well as adoption of quantum cryptography market.
   
Regional Analysis:
The Quantum Cryptography market is studied for Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period.

The North American market growth is attributed to high adoption of cloud based applications and increasing safety and security concerns.

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