Data security strides for optimum encryption and decryption of information amongst entities has stirred heavy reliance on sophisticated security models derived from advanced algorithms. The primary advantage of quantum cryptography based security models is the ability to trace malicious intrusion and third party presence that lead to data breach. Factors as such are relentlessly pushing high end growth in quantum cryptography market on the back of massive adoption, concludes a recent research report by Adroit Market Research. —
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Quantum cryptography as a security measure has huge potential in coming years. The growing amount of data and increasing digitalization especially in the financial domain is expected to boost the demand for quantum cryptography in coming years. The demand in BFSI sector is expected to be highest in present and during the forecast period. The North American region is expected to lead the market in terms of adoption followed by Europe and APAC.
Noted Singapore-based Universities Align with Quantum Cryptography based Security Matrix to Augment data Security in BFSI
Countries across matured and emerging economies are devoting massive investments towards developing high end quantum cryptography structures to enable high potential data security. Singapore based ST Engineering and National University of Singapore are exploring the mettle of quantum, key distribution technology for the enablement of advanced cybersecurity matrix as an ideal defense mechanism against advanced and sophisticated data threats.
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The new technology induced quantum cryptography matrix is in place to support fast track deployment, averting massive digital disruptions, thus supporting high end operational efficiency. The newly developed quantum cryptography capabilities will improve data security capabilities across businesses and verticals such as BFSI and government supported programs.
One of the most remarkable trends in quantum cryptography space is corporate collaborations and commercial agreements to ensure sustainable lead amidst staggering competition. Start-ups such as PQShield is fortifying its competitive stance in the competition landscape with new funding sprees. The company has recently affirmed its new funding success from Kindred Capital to augment significant lead in its flagship quantum cryptography structures to make cybersecurity capabilities future ready.
Further in quantum cryptography space, market player Infineon Technologies are making significant headways towards offering novel chip based quantum cryptography capabilities to align with enterprise security needs. These ongoing developments are in place to influence high potential investment returns in global quantum cryptography market.
The North America region is projected to hold the highest growth during the forecast years. The market growth in this region is mainly attributed to the existence of developed countries (the US and Canada), which give it an upper hand over other regions in terms of adoption and usage of extremely high tech security technologies such as quantum cryptography. Rise in cyber attacks in this region has led to increase in demand for security technologies like quantum cryptography. The region is expected to provide immense growth opportunities for quantum cryptography companies, due to the increasing demand for secured repository for long-term storage of critical information.
The major players of the global quantum cryptography market are PQ Solutions, Infineon, Qubitekk, Quintessencelabs, Nucrypt, Crypta Labs, Qutools, Magiq Technologies, NEC Corporation, and Toshiba. The quantum cryptography market comprises well established local as well as global players.
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Segment Overview of Global quantum cryptography Market
Component Overview, 2018-2028 (USD Million)
Application, 2018-2028 (USD Million)
• Network Security
• Application Security
• Database security
Industry Vertical Overview, 2018-2028 (USD Million)
• Government & Defense
• IT & Telecommunication
Regional Overview, 2018-2028 (USD Million)
• North America
• Rest of Europe
• Asia Pacific
• Rest of Asia-Pacific
• Middle East and Africa
• South Africa
• Rest of Middle East and Africa
• South America
• Rest of South America
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Organization: Adroit Market Research
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