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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