Press Release

Asia Pacific Quantum Cryptography Market to Grow at Over 25% CAGR during 2018-2023

Increasing incidences of data theft and cyberattacks, growing implementation of cloud storage and IoT solutions, and need to safeguard the crucial data to drive Asia-Pacific quantum cryptography market through 2023

According to TechSci Research report, Asia-Pacific Quantum Cryptography Market By Component, By Application, By End-User, By Country, Competition Forecast & Opportunities, 2013-2023, the quantum cryptography market in Asia-Pacific is projected to grow at a CAGR of over 25% during 2018-2023. Key factors expected to drive the market are increasing number of cyberattacks and data theft incidences, along with the advent of quantum computers and booming IoT market, which is leading to data generation by consumer devices and machines. In order to protect the data while transmission, quantum cryptography is implemented. As data security is becoming a major concern among enterprises and government organizations, adoption of quantum cryptography in Asia-Pacific is anticipated to grow at a robust pace in the coming years.

Browse 30 Figures spread through 52 Pages and an in-depth TOC on "Asia-Pacific Quantum Cryptography Market"

https://www.techsciresearch.com/report/asia-pacific-quantum-cryptography-market/3246.html

On the basis of end users, the market is segmented into IT & Telecom, BFSI, government & defense and other sectors. Of these end users, IT & Telecom is anticipated to account for the largest share in the region’s quantum cryptography market during the forecast period. Moreover, the sector is expected to emerge as the fastest growing end user, owing to its wide-scale infrastructure of optic fiber cable and dark fiber along with the implementation of cloud storage protection. By application, data base encryption dominated the market in 2017 and is anticipated to maintain its market dominance in the coming years as well, on the back of disaster mitigation and data protection efforts. China is the largest demand generating country for quantum cryptography in the region, backed by increasing investment by the government in enterprises engaged in the field of quantum cryptography.  


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“Asia-Pacific quantum cryptography market is growing at a robust pace, with the advent of quantum computers and increase in the number of data thefts. SK Telecom, in partnership with Nokia, has successfully created a Quantum Random Number Generator (QRNG) on a chip, which is expected to revolutionize the mobile payment industry. Owing to the aforementioned factors, the quantum cryptography market in the region is likely to register strong growth during the forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

 

“Asia-Pacific Quantum Cryptography Market By Component, By Application, By End-User, By Country, Competition Forecast & Opportunities, 2013-2023” has evaluated the future growth potential of the quantum cryptography market and has also provided the statistics and information on market structure, size, share and future growth of quantum cryptography market. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities existing in the market.

 

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Asia-Pacific Quantum Cryptography Market By Component (Hardware & Service), By Application (Data Base Encryption, Network Layer Encryption, Application Security & Others), By End-User, By Country, Competition Forecast & Opportunities, 2013-2023

ICT | Aug, 2018

Increasing incidences of data theft and cyberattacks, growing implementation of cloud storage and IoT solutions, and need to safeguard the crucial data to drive Asia-Pacific quantum cryptography market through 2023

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