HOME Research Insight ID Quantique (Switzerland) and MagiQ Technologies (US) are the Leading Players in the Quantum Cryptography Market

ID Quantique (Switzerland) and MagiQ Technologies (US) are the Leading Players in the Quantum Cryptography Market

The quantum cryptography market is gaining traction, due to the rise in cyber-attacks and growing data security and privacy concerns across various geographies. Furthermore, trending technologies such as cloud storage and computing in multiple industry verticals, and evolving next-generation wireless networks are some of the other factors contributing to the growth of the overall quantum cryptography market. MarketsandMarkets forecasts the global quantum cryptography market size to grow from USD 285.7 Million in 2017 to USD 943.7 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 27.0%.

There are several established players in the quantum cryptography market such as ID Quantique (Switzerland), MagiQ Technologies (US), Quintessencelabs (Australia), Nucrypt (US), Qutools (Germany), Anhui Qasky Quantum Science and Technology (China), Crypta Labs (UK), Qubitekk (US), PQ Solutions (UK), and Infineon Technologies (Germany). These leading players have adopted various strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product developments, to achieve growth in the global quantum cryptography market.

ID Quantique provides quantum cryptography through Quantum-Safe Crypto solutions, which provide high-performance and quantum-safe security solutions. IDQ’s QKD platform provides quantum-safe security for long-term data protection, secure key exchange for encryption, and other security devices on point-to-point backbone and storage networks. Moreover, it is instrumental in providing an anti-eavesdropping mechanism to ensure secure key exchange and forward secrecy of the encryption keys. The company has been competently expanding its business lines by undertaking efficient organic strategies. For instance, in September 2015, ID Quantique partnered with Acronis, a leading security solution provider. This partnership enabled ID Quantique to bring quantum-safe encryption to cloud data protection.

Another important vendor offering services and hardware for quantum cryptography is MagiQ Technologies. The company offers quantum cryptography with the help of QPN 8505, a quantum cryptography system which is a completely secured and future-proof communication channel. It is instrumental in cost-effective protection from both internal threats, such as disgruntled employees, and from external threats. The company serves various verticals, including aerospace and defense, government, and telecom.

Related Reports:

Quantum Cryptography Market by Component (Hardware and Services), Application (Network Security, Database Encryption, Application Security), Organization Size, Vertical and Region - Global Forecast to 2022

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