Growth in number of cyber-attacks, rise in cyber security funding, increase in demand for next generation security solutions due to rise in penetration of cloud, and IoTdrive growth of the quantum cryptography market. However, lack of expertise and high cost hinders growth of the market. Furthermore, increase in awareness about cyber security among industrial vertical and users creates growth opportunity for the Quantum Cryptography Market globally.
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COVID-19 scenario Analysis:
- The emergence of COVID-19 pandemic has severely affected almost all industries across the world. Further, lockdown enforcements and restrictions on movements of non-essential goods as well as resources in various countries has disrupted supply chain of electronic components & networking equipment. Thus, this has led to a delay in the supply of electronic components required in manufacturing of network equipment.
- The outbreak of COVID-19 forced industrial vertical to shift their working to work from home and major of work force started to work remotely. This has created more awareness about cyber security in businesses and positively affects the quantum cryptography industry.
- The global pandemic is just the latest hurdle along an already obstacle-littered path for the quantum computing industry. While researchers have long touted potential paradigm-shifting nature of quantum technology has never promised short-term returns.
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Quantum cryptography is based on the concept of photons. It uses the movement of photons to detect cyber-attacks while data transfer. Sudden change in movement and position of photon indicates threats and takes replay action by alerting security system immediately.
Quantum cryptography is virtually un-hackable, simple to use, and does not require any resources to maintain it. In addition, it is also used to detect monitoring quantum key distribution, because of the fact that it is not possible to copy the data encoded in quantum state. It also secures communication by providing security based on fundamental law of physics instead of mathematical algorithms.
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Key benefits of the report:
➢ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Quantum Cryptography market analysis from 2021 to 2031 to identify the prevailing Quantum Cryptography market opportunities.
➢ The market research is offered along with information related to key drivers, restraints, and opportunities.
➢ Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
➢ In-depth analysis of the Quantum Cryptography market segmentation assists to determine the prevailing market opportunities.
➢ Major countries in each region are mapped according to their revenue contribution to the global market.
➢ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
➢ The report includes the analysis of the regional as well as global Quantum Cryptography market trends, key players, market segments, application areas, and market growth strategies.
Leading Market Players:
The key players profiled in the Quantum Cryptography market analysis are Toshiba Corp., NEC Corp., MagiQ Technologies, Inc, Infineon Technologies, Microsoft Corp., IBM Corp., NuCrypt LLC, Accenture Corp., Anhui Qasky Science and Technology Ltd, PQ Solutions
These players have adored various strategies to increase their market penetration and strengthen their position in the industry. Current and future Quantum Cryptography market trends are outlined to determine the overall attractiveness of the market.
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