The rise in demand for quantum cryptography as a result of more cyberattacks and instances of data theft in the digital age has been a prominent growth driver for the quantum cryptography market over the forecast period. Digitization presents several chances to optimise operations & systems across numerous industry sectors. As a result, as more devices are connected, data theft and cyberattacks are increasing globally. The rise in cyber-attacks in financial services and online banking as a result of the widespread use of internet services is another factor influencing the development of quantum cryptography in recent years and the expansion of its business.
Forecast to 2030", the Quantum Cryptography Market is anticipated to grow significantly from 2022 to 2030, with a high CAGR of almost 41.40 percent, to reach a valuation of about USD 124.3 million by the end of that year.
Prominent Companies in the Quantum Cryptography Industry:
1. Magiq Technologies, Inc.: Established in 1999. Operator of a research and development firm with U.S. headquarters that aims to sell a quantum cryptography technology. The company's products enable the defence, telecom, and energy industries to more effectively connect, protect, and defend their respective worlds. These products also include optical sensing applications for RF interference cancellation, quantum cryptography, and optical surveillance for advanced energy exploration. MAGIQ Software is acquired by Springbrook Software, which broadens its product offerings and geographic reach.
2. Quintessencelabs: Established in 2008. Head office in Australia. Founder of quantum-cybersecurity programmes built to put effective security measures in place to protect data. With the help of the company's cybersecurity technology, organisations may boost the returns on their existing assets and simplify data security by centralising management and control of data-security policy and utilising quantum scientific properties. QuintessenceLabs, an Australian business, receives $25 million to expand its quantum-safe cybersecurity offerings.
3. Crypta Labs Ltd: Established in 2014. Located in England, in the United Kingdom. Founder of quantum hardware security tools intended to enhance internet-of-things encryption standards. The company's products use a quantum random number generation encryption module to produce products and services with encryption, and they also provide a software development kit and an application process interface for the creation of mobile applications for those products. This allows the military, the transportation, financial, and healthcare industries, as well as the healthcare industry, to future-proof the cyber-security of their IoT systems.
4. Qubitekk, Inc.: Founded in 2012. United States headquarters. Creator of quantum networking technologies that use ultra-secure communications to connect distributed quantum sensors and hybrid quantum computers. Utilising entangled photon sources that are designed, engineered, and precisely manufactured to integrate seamlessly with existing architecture, the company's quantum systems and classical infrastructure address quantum challenges and give clients access to unmatched quantum communications over optical fibre and in free space. Quantum Key Distribution Patent Portfolio Acquired by Qubitekk.
5. PQ Solutions: Launched in 2011. Italian headquarters in Susegana. A creator of eyeglasses frames. The company uses 3D printing technology to create unique eyewear frames.
6. Infineon Technologies AG: Founded in 1999. Headquarters in Germany, in Munich. One of Europe's major chipmakers, Infineon Technologies, with its headquarters in Munich, was separated from German industrial powerhouse Siemens in 2000. The business is a market leader in automotive semiconductors and has well-known products utilised in automobiles' active safety and engine systems. Additionally, Infineon dominates the market for power semiconductors, which are used to deliver voltage in a range of electrical applications. Automotive, industrial power control, power and sensor systems, and connected security systems are the company's four business segments.
7. Id Quantique: Established in 2001. Offices in Geneva, Switzerland. A company that offers quantum-safe crypto services with the goal of safeguarding data in the long run. The company's platform enables financial clients, businesses, and governmental organisations to use quantum physics to address problems by providing quantum-safe network encryption, secure quantum key creation, and quantum key distribution. To become the world leader in quantum communications and quantum sensing technologies, ID Quantique and SK Telecom have teamed up.
Definition: Quantum cryptography is a method of encryption that uses the naturally occurring properties of quantum mechanics to secure and transmit data in a way that cannot be hacked.
