Press Release

South America Quantum Cryptography Market to Grow at 22.85% CAGR by 2023

Rising incidences of data theft and cyberattacks, growing implementation of cloud storage and IoT solutions, and increasing need to safeguard crucial data to drive South America quantum cryptography market through 2023

According to TechSci Research report, South America Quantum Cryptography Market By Component, By Application, By End-User, By Country, Competition Forecast & Opportunities, 2013-2023, the quantum cryptography market in South America is projected to grow at a CAGR of 23% during 2018-2023. As number of cyberattacks and data theft cases, number of connected devices and data security concerns among enterprises and government organizations is growing across the region, the quantum cryptography market in South America is expected to exhibit a double-digit growth in the coming years. Some of the major players in the region’s market are ID Quantique SA, MagiQ Technologies, Inc., Quintessence Labs Pty Ltd., Qubitekk, Inc., etc.

Browse 26 Figures spread through 52 Pages and an in-depth TOC on  "South America Quantum Cryptography Market"

Advent of quantum computers, booming IoT market (generating huge data) and growing use of cloud storage data are among the other key factors anticipated to boost the adoption of quantum cryptography in the region, as quantum cryptography plays a pivotal role in cybersecurity. On the basis of end user sectors, the market is segmented into IT & Telecom, BFSI, government & defense and others. IT & Telecom is anticipated to become the fastest growing segment, as this sector majorly deals in data transmission and storage, which makes the adoption of quantum cryptography a priority. Brazil is likley to lead the regional market share, owing to the increasing investment by government in enterprises in the field of quantum cryptography.  

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“Smartphone penetration is growing at a robust pace across the region. Large amount of sensitive data is stored on the phones, which are also used for carrying out payment transactions. A new technology developed by SK Telecom in partnership with Nokia will help provide quantum encryption on smartphones and safeguard the data, thereby resulting in a positive impact on the region’s quantum cryptography market in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.


“South 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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