The quantum cryptography market was valued at US$185.737 million in 2017 and is expected to grow at a CAGR of 28.44% over the forecast period to reach a total market size of US$834.066 million by 2023. The growing incidents of cyber-attacks in the era of digitalization, increasing cybersecurity funding, rising demand of next-generation security solutions for cloud and IoT technologies, and evolving next-generation wireless network technologies are expected to drive the growth of the global quantum cryptography market. Protection of the company’s data from cyber attacks is the need of an hour which is eventually driving the quantum cryptography
market.

Cyber threats and cybercrime are also enhancing the growth of the market. Privacy concerns to protect the vital data from hackers, evolving technology,  embracement of cloud storage and other wireless networks are further paving the way for the quantum cryptography market.

The quantum cryptography market is segmented by component, by enterprise size, by application, by end-user industry, and by geography.