Summary

IQT Research believes that Quantum Key Distribution (QKD) represents a product/market opportunity of immediate importance.  QKD, combined with PQC, enables a two-pronged approach to cybersecurity in a world in which quantum computers will increasingly break public key encryption.  Two points of failure in cybersecurity are better than one. At the same time, the relatively mature QKD technology provides a solid path to a future Quantum Internet. And, although QKD chips have not taken off as fast as was once expected, there is a good chance that, in the next few years, they will lower the cost of QKD deployment and broaden the markets in which they make sense.

IQT Research has been following the evolution of the QKD market since its earliest days and can comment on QKD opportunities from an insider perspective.  This report represents our latest thinking on the topic and provides coverage of all the recent technological innovations in the space and the related ongoing standards and protocol development.  The report also provides a granular analysis – with specific case study examples – of how QKD is being used in government, banking and finance, and to protect the critical infrastructure.  We also examine the role that QKD will find in large enterprises.

This report also profiles the business strategies of approximately 30 QKD vendors and all the major QKD deployments worldwide.  Finally, based on our current analysis of the QKD market, this report includes ten-year forecasts of QKD with breakouts by country, end-user type, etc..  These forecasts are provides to purchasers of the report in a separate Excel sheet, so that they can use them for constructed complex “what if” scenarios.

QKD Market Opportunities 2024: The Quantum-Safe Path to the Quantum Internet
Report: IQT-QKD2024-0524
Published May 22, 2024

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Table of Contents

Table of Contents
 
Executive Summary
E.1 QKD: Quantum Safe or Quantum Networking
E.2 Security Objections to QKD in the US may be Fading Away
E.3 Impact of QKD Chips and Miniaturization
E.4 QKD Transmission: Developments in Fiber, Satellite and Freespace
E.5 Toshiba, IDQ and the Rest
E.5.1 New Entrants into the QKD Market
E.6 Emerging Applications for QKD
E.7 QKD and the Path to the Quantum Internet
 
Chapter One: Introduction
1.1 Background to this Report
1.1.1 QKD vs. PQC?
1.1.2 QKD in the Mid-to-Late 2020s
1.2 Scope and Methodology of this Report
1.3 Fastest Growing QKD Market Segments
1.4 Plan and Methodology of Report
 
Chapter Two: QKD Technology Assessment
2.1 Emerging Types of QKD and the Path to the Quantum Internet
2.2 Quantum Chips Change Everything -- Maybe
2.3 Advances in Fiber-based QKD
2.3.1 Fiber Feeds and Speeds and Distances
2.4 Evolution of Satellite QKD
2.5 Satellite-Based QKD Networks
2.6 Free-Space QKD Networks
 
Chapter Three: Regulation, Standards and QKD
3.1 QKD Protocols
3.2 QKD Standards
3.2.1 ITU
3.2.2 ISO/IEC JTC 1
3.2.3 European Standardization of QKD
3.2.4 QKD Standardization in Japan
3.3 The National Security Agency and Criticism of QKD
 
Chapter Four: QKD Applications and Networks
4.1 QKD: Customer Considerations in Buying into QKD
4.2 End-user Groups for QKD
4.3 QKD: A Military and Intelligence Option?
4.3.1 China
4.3.2 NATO
4.4 QKD: QKD in Civil Government
4.5 QKD in Banking and Finance
4.5.1 Current examples of QKD in the Financial Sector
4.6 QKD and Critical Infrastructure
4.6.1 Current examples of QKD in Critical Infrastructure
4.7 QKD in the Telephone Industry
4.7.1 Thoughts on QKD and 5G/6G
4.8 Influential QKD Networks Around the Globe
4.9 Chinese QKD Network
4.10 Nationwide QKD Network in South Korea
4.11 QKD Network in Japan
4.12 QKD Networks in Singapore
4.13 QKD Networks in India
4.14 QKD Networks in the UK
4.15 QKD Networks in Europe: OpenQKD and EuroQCI
4.15.1 Satellite QKD in Europe:
4.15.2 Interconnection of OpenQKD testbeds
4.15.3 Austria
4.15.4 Bulgaria
4.15.5 Cyprus
4.15.6 Czechia
4.15.7 Denmark
4.15.8 Finland
4.15.9 France
4.15.10 Germany
4.15.11 Greece
4.15.12 Hungary
4.15.13 Ireland
4.15.14 Italy
4.15.15 Poland
4.15.16 Portugal
4.15.17 Romania
4.15.18 Slovakia
4.15.19 Slovenia
4.15.20 Spain
4.15.21 Sweden
4.15.22 Switzerland
4.15.23 European Industrial QKD Initiatives
4.16 QKD in the United States
4.16.1 National Quantum Initiative Act.
4.16.2 Oak Ridge
4.16.3 Chicago Quantum Exchange
4.17 India
4.18 South Africa
 
Chapter Five QKD Solutions
5.1 QKD Industry Structure
5.2 QKD and the Major Hardware Vendors
5.2.1 Adtran/ADVA
5.2.2 Ciena (United States)
5.2.3 Cisco (United States)
5.2.4 HPE/Juniper Networks (United States)
5.2.5 A Note on Nokia (Finland)
5.3 QKD Companies
5.3.1 ArQit (United Kingdom)
5.3.2 Evolution q
5.3.3 HEQA (Israel)
5.3.4 ID Quantique (Switzerland)
5.3.5 KEEQuant (Germany)
5.3.6 KETS Quantum Security (United Kingdom.)
5.3.7 MagiQ Technologies (United States)
5.3.8 Nu Quantum (United Kingdom)
5.3.9 Qnu Labs (India)
5.3.10 Quantum Blockchains (Poland)
5.3.11 QuantumCTek (China)
5.3.12 Quantum industries (Austria)
5.3.13 Qubitekk (United States)
5.3.14 QuintessenceLabs (Australia)
5.3.15 Sandbox (United States)
5.3.16 Terra Quantum (Switzerland)
5.3.17 Toshiba (Japan and U.K)
5.3.18 Vericloud (France)
5.4 Satellite QKD and Other Service Providers
5.4.1 AegiQ (United Kingdom)
5.4.2 CAS QuantumNet (China)
5.4.3 KT (South Korea)
5.4.4 levelQuantum (Italy)
5.4.5 QEYnet (Canada)
5.4.6 Quantum Xchange (United States)
5.4.7 SpeQtral Quantum Technologies (Singapore)
5.4.8 ThinkQuantum and Quantum Future (Italy)
5.5 Test and Measurement and Components Companie
5.5.1 Alter Technology (Spain/Germany)
5.5.2 Aurea Technology (France)
5.5.3 Fifteen Instrument (Singapore)
5.5.4 Keysight
5.5.5 Pixel Photonics (Germany)

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List of Tables/Graphs

List of Exhibits
Exhibit E-1: Six Factors Shaping the Worldwide QKD Sector
Exhibit E-2: Role of QKD by End-user Market
Exhibit 1-1: New Considerations for QKD Market Projections
Exhibit 2-2: Some Recent Examples of QKD Distance Achievements
Exhibit 3-1: NSA Perspectives and Counterviews
Exhibit 4-1: QKD Marketing Strategies
Exhibit 4-2: Proposed Testbed Interconnection Approaches in Open
Exhibit 4-3: QKD End Users
Exhibit 4-4: Six Factors Shaping the Worldwide QKD Sector
Exhibit 5-4: Notable Chinese Quantum Networking Achievements