Press Release

Growing Data Theft Incidences to Drive Europe Quantum Cryptography Market through 2023

With growing need to protect the crucial data, owing to data theft and cyberattacks and rising implementation of cloud storage and IoT solutions, Europe quantum cryptography market is expected to register robust growth during the forecast period

According to TechSci Research report, Europe Quantum Cryptography Market By Component, By Application, By End-User, By Country, Competition Forecast & Opportunities, 2013-2023, the quantum cryptography market in Europe is projected to grow at a CAGR of 27% during the forecast period 2018 - 2023. Owing to growing number of cyberattacks, data security is becoming a major concern among enterprises and government organizations. Moreover, with increasing adoption of the cloud for data storage, data is being subjected to a greater risk. Additionally, booming IoT industry is resulting in rapid increase in the number of connected devices, which in turn is creating a need for safeguarding the data. All the aforementioned factors are anticipated to have a positive impact on the quantum cryptography market in Europe during the forecast period.

Browse 34 Figures spread through 52 Pages and an in-depth TOC on "Europe Quantum Cryptography Market"

Quantum computing is on the verge of realization and companies such as IBM and Google are working on bringing quantum computing to the consumer domain. It is anticipated that quantum computers can break classical encryption with ease, thus quantum cryptography market is generating demand and playing a pivotal role in cybersecurity. Backed by growing government investments in enterprises engaged in the field of quantum cryptography, the United Kingdom accounts for the largest share in the region’s quantum cryptography market. Moreover, IT & Telecom is anticipated to become the fastest growing segment, as this sector majorly deals in data transmission and storage, thereby driving the adoption of quantum cryptography.

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“With increasing efforts by large and small enterprises for the realization of quantum computing, Europe quantum cryptography market is projected to exhibit a double-digit growth in the coming years. Moreover, increasing incidences of cyberattacks and data theft are making it crucial to create awareness and explain the benefits of quantum cryptography on how it can safeguard the data from cyberattacks.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.


Europe 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.


About TechSci Research

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