Quantum Cryptography Market
Quantum cryptography uses quantum mechanical properties to complete cryptographic tasks. The Quantum Key Distribution (QKD) technology in quantum cryptography is based on Heisenberg’s uncertainty principle. Therefore, an unauthorized third party’s attempt to intercept the secret keys used for encryption will produce an irreversible change in the quantum states before they are retransmitted to the intended destination. This will cause an abnormally high error rate in the transmissions between the sender and intended recipient, alerting the recipient of the unauthorized third party’s attempt to intercept the keys. Quantum cryptography is used across industries such as government and defense,
banking and financial services, IT and telecommunications, and retail, among others.
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The increasing number of cyberattacks, along with the pressing need to secure data and cybersecurity funding should drive the growth in the global market of quantum cryptography. Governments and institutions around the world are directing financial resources toward build quantum computers that can instantly break non-quantum-based cryptography. This also has created an increased interest in quantum cryptography as many companies are seeking to install quantum cryptographic systems to protect their data. The IT and telecommunication sector should be the largest contributor to the global market of quantum cryptography because enterprises in this segment continuously generate big data.
Protection from cyberattacks is vital.
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