Press Release

North America Quantum Cryptography Market to Register Strong Double Digit Growth till 2023

Increasing need to safeguard crucial data from rising incidences of data theft and cyberattacks, and implementation of cloud storage and IoT solutions, to drive North America quantum cryptography market through 2023

According to TechSci Research report, North America Quantum Cryptography Market By Component, By Application, By End-User, By Country, Competition Forecast & Opportunities, 2013-2023, the quantum cryptography market in North America is forecast to exhibit a CAGR of 24% during 2018-2023, on the back of increasing number of cyberattacks and data theft cases in the region. Some of the other key factors that are expected to aid the market are growing data security concerns among enterprises and government organizations, booming IoT market, and increasing use of cloud storage data across the region. It is anticipated that with quantum computers breaking classical encryption with ease, demand for quantum cryptography would grow, as it plays a pivotal role in cybersecurity.


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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. Some of the major players operating in the region’s quantum cryptography market are ID Quantique SA, MagiQ Technologies, Inc., Quintessence Labs Pty Ltd., Qubitekk, Inc., etc. Over the coming years, the United States is projected to lead the regional market share, owing to huge investments in research & development activities in quantum cryptography domain, increasing adoption of connected devices, growing BYOD trend, among several other factors. IT & Telecom holds the largest share in the market, as it deals with huge data transmission and storage. 

 

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“Quantum cryptography market in North America is anticipated to grow at a robust pace in the coming years, owing to increasing defense budget of the countries in the region. Government and defense data are very crucial for the safety of the citizens. Countries in North America are actively working on deploying quantum communication channels, which use quantum cryptography to secure the data.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.


North America 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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Increasing need to safeguard crucial data from rising incidences of data theft and cyberattacks, and implementation of cloud storage and IoT solutions, to drive North America quantum cryptography market through 2023

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