PUBLISHER: The Business Research Company | PRODUCT CODE: 1513232
PUBLISHER: The Business Research Company | PRODUCT CODE: 1513232
Quantum secure communication utilizes quantum cryptographic techniques to ensure the security and confidentiality of communication channels, drawing upon the principles of quantum mechanics to facilitate the secure transmission of information. Its primary objective is to furnish a highly secure approach to transmitting sensitive data over communication channels by harnessing the principles of quantum mechanics.
The key types of quantum secure communication include quantum key distribution and quantum teleportation. Quantum key distribution (QKD) is a validated technology that generates and distributes encryption keys through quantum mechanics, offering the utmost level of security for communication channels. These components are classified into hardware, software, and services, which are deployed in cloud-based or on-premise models for application in sectors such as banking, finance, government, defense, lottery and online gaming, business, among others.
The quantum secure communication market research report is one of a series of new reports from The Business Research Company that provides quantum secure communication market statistics, including quantum secure communication industry global market size, regional shares, competitors with a quantum secure communication market share, detailed quantum secure communication market segments, market trends and opportunities, and any further data you may need to thrive in the quantum secure communication industry. This quantum secure communication market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The quantum secure communication market size has grown rapidly in recent years. It will grow from $0.61 billion in 2023 to $0.73 billion in 2024 at a compound annual growth rate (CAGR) of 19.6%. The growth in the historic period can be attributed to demand for enhanced simulation and modeling, growing complexity of automotive systems, rising focus on cybersecurity, collaborative research initiatives, regulatory pressure and emissions reduction, competitive landscape and market differentiation.
The quantum secure communication market size is expected to see rapid growth in the next few years. It will grow to $1.5 billion in 2028 at a compound annual growth rate (CAGR) of 19.8%. The growth in the forecast period can be attributed to autonomous vehicle development, connected car ecosystems, electric vehicle optimization, advanced materials development, cybersecurity enhancement, supply chain optimization, regulatory compliance and sustainability, industry collaboration, and partnerships. Major trends in the forecast period include increased adoption, technological advancements, R&D investments, partnerships and collaborations, market expansion, regulatory considerations, integration with electric vehicles, a focus on cybersecurity, market competition, and the and the commercialization of quantum solutions.
The projected rise in the number of IoT devices is anticipated to drive growth in the quantum secure communication market during the forecast period. IoT devices, comprising specialized hardware such as sensors, actuators, and appliances, connect wirelessly to networks to gather and exchange data. Their popularity stems from technological advancements, affordability, expanding internet infrastructure, and increasing demand for automation and connectivity. Quantum secure communication enhances the security of IoT devices by employing quantum cryptography to safeguard data transmission against potential eavesdropping and hacking attempts. For instance, the Ericsson Mobility Report forecasted in November 2022 that by 2028, the number of IoT-connected devices will soar to 34.7 billion, a significant increase from 13.2 billion in 2022. This surge in IoT device adoption is expected to fuel growth in the quantum secure communication market.
Key players in the quantum secure communication market are integrating quantum cryptography into communication platforms such as messengers and video conferencing stacks to offer customers enhanced features. These integrated applications provide users with a unified interface for secure messaging and video conferencing. For example, Scytale Alpha introduced India's first quantum secure communication platform, named VANI, in November 2023. This platform aims to deliver unparalleled security, ensuring complete data privacy, ownership, and security by employing advanced post-quantum cryptographic exchange mechanisms and a quantum random number generator (QRNG), thereby enabling secure client interactions and protecting against cyber threats and hacking attempts.
In March 2024, China Telecom Quantum Information Technology Group Co. acquired a 23.1% stake in QuantumCTek for $265 million. This strategic move aims to bolster China Telecom's presence in the quantum communication sector and enhance the development and promotion of quantum communication products through collaboration with QuantumCTek, a Chinese-based developer specializing in quantum secure communication networking products.
Major companies operating in the quantum secure communication market are Toshiba Digital Solutions Corporation, ID Quantique SA, Nu Quantum Ltd, QuintessenceLabs Pty Ltd, MagiQ Technologies Inc., SpeQtral Pte Ltd, Arqit Quantum Inc., QuantumCTek Co. Ltd., Anhui Qasky Quantum Technology, Qubitekk Inc., QuantLR Inc., Ki3 Photonics Technologies Inc., Qunnect Corporation, QEYnet, Aliro Quantum Inc., Crypto Quantique Ltd, Crypta Labs Limited, Quantropi Inc., Quantum Xchange Inc., Aegiq LLC, GoQuantum Inc., Qulabs Inc., Qudoor Corporation, CAS Quantum Network Co. Ltd., Quantum Telecommunications Italy (QTI), nodeQ, ThinkQuantum.
North America was the largest region in the quantum secure communication market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the quantum secure communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the quantum secure communication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The quantum secure communication market consists of revenues earned by entities by providing services such as ultra-secure data transmission, networking, and collaboration capabilities across a wide range of critical applications. The market value includes the value of related goods sold by the service provider or included within the service offering. The quantum secure communication market also includes sales of qubits, optical and microwave pulses, lasers for cooling atoms, and quantum interconnects. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Quantum Secure Communication Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on quantum secure communication market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for quantum secure communication? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The quantum secure communication market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.