ID Quantique (Switzerland), Toshiba (Japan) and QNu Labs (India) are leading players in Quantum Cryptography Market
MarketsandMarkets forecasts the Quantum Cryptography market to grow from an estimated USD 0.5 billion in 2023 to USD 3.0 billion by 2028 at a compound annual growth rate (CAGR) of 41.2%. Exponential adoption of quantum cryptography rising cyberattacks in the digitalization era, increasing cybersecurity funding, and rising demand for next-gen security solutions for cloud and IoT technologies are some factors driving the quantum cryptography market growth.
Toshiba provides reliable and ultra-secure quantum cryptography solutions that protect sensitive information from threats posed by advances in computing and mathematics. In today's world, where data proliferation is almost constant, the secure transmission of information is essential. Toshiba offers world-leading cyber-physical-system technology that leverages the fundamental laws of Quantum Physics to protect private information. Toshiba has been involved in the research and development of quantum cryptography, a method of secure communication using the principles of quantum mechanics. One of Toshiba's major achievements in quantum cryptography was the development of the first quantum key distribution (QKD) system using a single-photon detector in 2003. In 2010, Toshiba announced the development of a new quantum key distribution system type that used a novel protocol known as "differential phase shift" to encode the quantum signals. Toshiba has also been involved in developing quantum cryptography technologies for use in satellite communication.
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ID Quantique is the market pioneer in quantum-safe cryptography solutions. The company creates and commercializes cutting-edge quantum goods and technologies for businesses to guarantee long-term data and public safety security. Governments, businesses, industrial clients, and academic study labs utilize its products in more than 60 nations across all continents. IDQ is divided into two company units: Quantum-Safe Security and Quantum Sensing. Quantum-Safe Security offers high-performance, quantum-safe security systems to protect data in transit. Quantum Sensing offers photon counting solutions for the visible and near-infrared regions of the optical spectrum, pulsed laser sources, counting and timing electronics, and photonic sensing solutions for industrial and research applications in Quantum Physics, Communication, Bio and Material Sciences, Defense and Security, Oil & Gas. Additionally, IDQ creates and markets quantum-based random number generators, which are the standard for genuine randomness across various sectors, including security, simulations, and gaming.
QNu Labs is a quantum technology company. It focuses on creating quantum cyber-security products using quantum key distribution technology, which enables the exchange of a cryptographic key between two distant parties over a quantum channel. The QNu Labs product provides a dedicated channel to transmit a secure private key to decrypt data and prevent eavesdropping on the encryption key, allowing customers to send data via a secure network. The company’s offering could be categorized into Quantum Cryptography Solutions and Quantum Key Distribution (QKD) Systems. It includes products such as ARMOS - Quantum Key Distribution (QKD), Tropos - Quantum Random Number Generator (QRNG), QOSMOS - Entropy as a Service (EaaS), Qverse - Quantum Secured Messenger, QVPN - Quantum-Safe VPN, and mCARP - Critical Analysis Research Platform. Quantum key distribution (QKD) systems generate and disseminate encryption keys using the principles of quantum mechanics, making them nearly unbreakable.
Related Reports:
Quantum Cryptography Market by Offering (Solutions and Services), Security Type (Network Security and Application Security), Vertical (Government, Defense, BFSI, Healthcare, Retail, and eCommerce) and Region - Global Forecast to 2028
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