PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1660043
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1660043
The global Quantum Key Distribution (QKD) market size is projected to grow from USD 0.48 billion in 2024 to USD 2.63 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 32.6% during the forecast period. A key driver of the QKD market is the growing deployment of quantum communication in satellite-based networks. As space-based communication networks expand, the need for highly secure transmission of data between satellites and ground stations is becoming critical. QKD's ability to offer unbreakable encryption makes it ideal for securing satellite communications, especially for defense and national security applications. This development is opening new avenues for QKD adoption, particularly in space and aerospace sectors, driving market growth.
Scope of the Report | |
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Years Considered for the Study | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Units Considered | USD (Billion) |
Segments | By Offering, Type, Transmission Medium, Application, Organization Size, Vertical, And Region. |
Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
"By vertical, the healthcare segment accounts for the highest CAGR during the forecast period."
The healthcare industry is expected to witness a high growth rate in the QKD market. This growth is driven by the increasing need for secure communication to protect sensitive medical data, the rising adoption of telemedicine, and the growing integration of advanced technologies in healthcare systems. The sector's focus on safeguarding patient privacy and ensuring data integrity in an era of cyber threats further accelerates the adoption of QKD solutions.
"By region, the North America accounts for a larger market share."
North America is anticipated to hold a significant share of the QKD market due to substantial investments in quantum research, robust government backing, and the presence of leading tech firms. The region's emphasis on building secure communication networks for commercial, scientific, and space applications, coupled with collaborations between quantum technology providers, is driving QKD adoption. For example, Toshiba America has partnered with Safe Quantum in the space of quantum key distribution (QKD). Furthermore, initiatives like the U.S. National Quantum Initiative and partnerships with the aerospace and telecom sectors reinforce North America's leadership in the QKD market.
Breakdown of primaries
The key players in the QKD market include are Toshiba (Japan), ID Quantique (Switzerland), Quintessence Labs (Australia), QuantumCtek (China), HEQA Security (Israel), MagiQ Technologies (US), LuxQuanta (Spain), Kloch (US), S-Fifteen Instruments (Singapore), Telsy (Italy), and others.
The study includes an in-depth competitive analysis of the key players in the QKD market, their company profiles, recent developments, and key market strategies.
Research Coverage
The report segments the QKD market and forecasts its size by Offering [Solution (Discrete-Variable QKD and Continuous-Variable QKD) and Services (Professional Services (Consulting & Training, Integration & Deployment, and Support & Maintenance) and Managed Services)], Type (Multiplexed QKD Systems and Long-Distance QKD Systems), Transmission Medium (Fiber-Optic Cable Transmission and Satellite-Based Transmission), Application (Network Security, Data Encryption, Secure Communication, and other applications), Organization Size (Large Enterprises and SMEs), Vertical (BFSI, Government & Defense, IT & ITeS, Healthcare, Energy and Utilities, Automotive, and Other Verticals), and Region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America).
The study also includes an in-depth competitive analysis of the market's key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall QKD market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.