Summary

The global quantum cryptography (QC) market size is estimated to grow from USD 1.15 billion in 2024 to USD 7.59 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 36.8% during the forecast period. The drivers for the quantum cryptography market are the rising levels of cybersecurity attacks and threats, improved approaches related to the progression of quantum computing, investments from government and military setups, the need for regulatory compliance, and integration with emerging technologies like IoT and AI. Main challenges-from both high deployment costs, largely QKD systems as well as technical complexity associated with the technology (requiring "specialized knowledge" for deployment and possibly becoming complex to integrate into already existing IT infrastructures) -are said to be the biggest barriers to entry for the market, more so among SMEs. Low awareness of the benefits of quantum cryptography is another reason for which many organizations depend on conventional measures of security. Indefinite clarity about the maturity of the market and the intense competition by established solutions with encryption also prevents its widespread adoption. Overcoming these challenges is crucial to the quantum cryptography's extensive usage.
By Solution Segment, Quantum Key Distribution (QKD) solutions account for a larger market share during the forecast period
Quantum Key Distribution is an essential product in the quantum cryptography market, as it offers security that can never be faked with any other technology. It detects attempts at interception using principles of quantum mechanics. With the ability to survive against the rising threats from quantum computers, encryption is secured in the long term; hence, there is an increasing need to adopt QKD as new cybersecurity threats are on the rise. QKD can easily be applied to the existing infrastructures.
Progress toward security improvement, scalability, and cost-effectiveness are ongoing developments in quantum cryptography. CV-QKD uses the light waves inherent in quantum states for scalable, secure key distribution, making it more deployable and compatible with existing telecom infrastructures. The measurement device-independent QKD further increases security by removing the two-state detection vulnerabilities; this enhances protection from all sidechannel attacks. Chip-based QKD systems based on integrated photonic circuits present compact and cost-effective solutions that really improve the scalability.The emergence of QKD as a Service (QKDaaS) brings quantum-safe communications to even more citizens. National initiatives like the National Quantum-Safe Network Plus of Singapore aim to integrate QKD in national infrastructure, foster industry collaborations between government agencies and private sector players, and position QKD as a fast-growing cybersecurity solutions.

By region, North America accounts for the highest market size during the forecast period.
The quantum cryptography market, being the fastest growing in North America, is driven primarily by the surge in cyber-attacks and the added focus on improving data security. Growth drivers of this market include a mature technological infrastructure, intensified government investment in cybersecurity, and landmark data protection regulations like HIPAA and GDPR, compelling organizations to promote advanced encryption solutions. Early adoption of digital transformation across the region increases demand for quantum-safe encryption as technologies such as cloud computing and IoT only expand the attack surface. A strong presence of market giants that deal in leading quantum cryptography companies and government initiatives such as the National Quantum Initiative Act also helps develop market growth. Gradually, quantum cryptography has emerged as necessary in the sectors involved in finance, healthcare, and cloud services to protect sensitive data, thus emphasizing the importance of countering evolving cyber threats.
Breakdown of primaries
The study contains insights from various industry experts, from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
• By Designation: C-level Executives – 45%, Directors – 35%, and Managers– 20%
• By Region: North America – 35%, Asia Pacific – 30%, Europe – 25%, Middle East & Africa– 5%, and Latin America – 5%
Major vendors in the PQC market include Toshiba (Japan), NXP Semiconductor (Netherlands), Thales (France), IDEMIA (France), Palo Alto Networks (US), DigiCert (US), Quintessence Labs (Australia), QuantumCtek (China), ISARA (Canada), IBM (US), ID Quantique (Switzerland), MagiQ Technologies (US), Crypto Labs (South Korea), Qasky (China), Qubitekk (US), Nucrypt (US), Quantum Xchange (US).
The study includes an in-depth competitive analysis of the key players in the PQC market, their company profiles, recent developments, and key market strategies.
Research Coverage
The report segments the QC market by solution, service, security type, transmission medium, deployment mode, organization size, vertical, and region. It forecasts its size by Solution (Quantum Key Distribution, Quantum Random Number Generator, Quantum-Safe Cryptography, Quantum Key Management ), By Service (Professional Services, Managed Services), By Security Type (Network Security, Application Security, Cloud Security), By Transmission Medium (Fibre-Optic Cable Transmission, Satellite-Based Transmission), By Deployment ( On-Premises, Cloud) By Organization Size (SME's and Large Enterprises), By Vertical (BFSI, government and Defense, Healthcare, IT & ITeS, Automotive, Energy and Utilities and Other Verticals), By Region ( North America, Europe, Asia Pacific, Rest of the World).
The study also includes an in-depth competitive analysis of the market's key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall quantum cryptography market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
 Analysis of key drivers such as (Rising cyberattacks in the digitalization era, Rising investments in Research and Development (R&D), Rising demand for next-generation security solutions for cloud and IoT technologies, Growing demand for advanced encryption techniques in real-world applications, Growing advancements in Quantum Computing); Restraints (High Implementation Costs, Rising technical complexities, Lack of expertise); Opportunities (Spur in demand for security solutions across industry verticals, Increasing need for integrated solutions, Strategic Collaborations Accelerating Innovation in Quantum Cryptography) and Challenges (Commercialization of quantum cryptography, Technological implementation challenges, Integration of Quantum Cryptography with existing system, scalability issues to meet high volume data transmission).
• Product Development/Innovation: Detailed insights on upcoming technologies, research development activities, new products, and service launches in the QC market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the QC market across varied regions.
• Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the QC market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players Toshiba (Japan), NXP Semiconductor (Netherlands), Thales (France), IDEMIA (France), Palo Alto Networks (US), DigiCert (US), Quintessence Labs (Australia), QuantumCtek (China), ISARA (Canada), IBM (US), ID Quantique (Switzerland), MagiQ Technologies (US), Crypta Labs (UK), Qasky (China), Qubitekk (US), Nucrypt (US), Quantum Xchange (US) among others, in the QC market strategies.

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Table of Contents

1 INTRODUCTION 37
1.1 STUDY OBJECTIVES 37
1.2 MARKET DEFINITION 37
1.2.1 INCLUSIONS AND EXCLUSIONS 38
1.3 STUDY SCOPE 39
1.3.1 MARKETS COVERED 39
1.3.2 YEARS CONSIDERED 40
1.4 CURRENCY CONSIDERED 40
1.5 STAKEHOLDERS 41
1.6 SUMMARY OF CHANGES 41
2 RESEARCH METHODOLOGY 42
2.1 RESEARCH DATA 42
2.1.1 SECONDARY DATA 43
2.1.2 PRIMARY DATA 44
2.1.2.1 Breakup of primaries 44
2.1.2.2 Key industry insights 45
2.2 MARKET BREAKUP AND DATA TRIANGULATION 46
2.3 MARKET SIZE ESTIMATION 46
2.3.1 TOP-DOWN APPROACH 47
2.3.2 BOTTOM-UP APPROACH 49
2.4 MARKET FORECAST 50
2.5 RESEARCH ASSUMPTIONS 50
2.6 RESEARCH LIMITATIONS 51
3 EXECUTIVE SUMMARY 52
4 PREMIUM INSIGHTS 56
4.1 ATTRACTIVE OPPORTUNITIES FOR KEY MARKET PLAYERS 56
4.2 QUANTUM CRYPTOGRAPHY MARKET, BY SOLUTION 56
4.3 QUANTUM CRYPTOGRAPHY MARKET FOR QUANTUM KEY DISTRIBUTION (QKD) 57
4.4 QUANTUM CRYPTOGRAPHY MARKET FOR QUANTUM RANDOM NUMBER GENERATORS (QRNG) 57
4.5 QUANTUM CRYPTOGRAPHY MARKET, BY SERVICE 58
4.6 QUANTUM CRYPTOGRAPHY MARKET, BY PROFESSIONAL SERVICE 58
4.7 QUANTUM CRYPTOGRAPHY MARKET, BY TRANSMISSION MEDIUM 59
4.8 QUANTUM CRYPTOGRAPHY MARKET, BY SECURITY TYPE 59
4.9 QUANTUM CRYPTOGRAPHY MARKET, BY ORGANIZATION SIZE 60
4.10 QUANTUM CRYPTOGRAPHY MARKET, BY VERTICAL 60
4.11 MARKET INVESTMENT SCENARIO 61
5 MARKET OVERVIEW AND INDUSTRY TRENDS 62
5.1 INTRODUCTION 62
5.2 MARKET DYNAMICS 62
5.2.1 DRIVERS 63
5.2.1.1 Rising number of cyberattacks 63
5.2.1.2 Increasing investments in research and development 63
5.2.1.3 Growing demand for next-generation security solutions for cloud and IoT technologies 64
5.2.1.4 Rising need for advanced encryption techniques in real world applications 64
5.2.1.5 Advancements in quantum computing 65
5.2.2 RESTRAINTS 65
5.2.2.1 High implementation costs 65
5.2.2.2 Rising technical complexities 66
5.2.2.3 Lack of expertise among users 66
5.2.3 OPPORTUNITIES 66
5.2.3.1 Growing requirement for sophisticated security solutions across sectors 66
5.2.3.2 Increasing need for integrated solutions 67
5.2.3.3 Strategic collaborations for technological innovation 67
5.2.4 CHALLENGES 68
5.2.4.1 Slow commercialization of quantum cryptography 68
5.2.4.2 Integration with existing systems 68
5.2.4.3 Scalability issues related to high-volume data transmission 68
5.3 EVOLUTION OF QUANTUM CRYPTOGRAPHY MARKET 69
5.4 IMPACT OF GENERATIVE AI/AI ON QUANTUM CRYPTOGRAPHY MARKET 69
5.4.1 TOP USE CASES & MARKET POTENTIAL 69
5.4.1.1 Key use cases 70
5.4.2 IMPACT OF GEN AI ON INTERCONNECTED AND ADJACENT ECOSYSTEMS 70
5.4.2.1 Quantum computing 71
5.4.2.2 Quantum key distribution (QKD) 71
5.4.2.3 Blockchain technology 71
5.4.2.4 Cloud security 72
5.4.2.5 Post-quantum cryptography 72
5.4.2.6 Artificial intelligence (AI) & machine learning (ML) 72
5.5 CASE STUDY ANALYSIS 72
5.5.1 CASE STUDY 1: HITACHI ENERGY AND ID QUANTIQUE DELIVER HIGHLY SECURE END-TO-END ENCRYPTION FOR CRITICAL INFRASTRUCTURE NETWORKS 72
5.5.2 CASE STUDY 2: QUINTESSENCELABS' CRYPTO GATEWAY SOLUTION ENABLES HIGH SECURITY AND LOW-COST CLOUD STORAGE FOR FINANCIAL INSTITUTION 73
5.5.3 CASE STUDY 3: SK BROADBAND AND IDQ IMPLEMENT END-TO-END QUANTUM CRYPTOGRAPHY SOLUTION FOR SOUTH KOREAN GOVERNMENT 74
5.5.4 CASE STUDY 4: QUANTUM SECURE SYSTEMS ENHANCES SECURITY OF FINANCIAL TRANSACTIONS WITH QKD SOLUTION 74
5.5.5 CASE STUDY 5: PQSHIELD’S PQPLATFORM-COPRO TECHNOLOGY INTEGRATES WITH SIFIVE’S ESSENTIAL RISC-V FOR IMPROVED QUANTUM SAFETY 75
5.6 VALUE CHAIN ANALYSIS 76
5.6.1 TECHNOLOGY INFRASTRUCTURE PROVIDERS 76
5.6.2 QUANTUM CRYPTOGRAPHY PROVIDERS 76
5.6.3 APPLICATION DEVELOPERS 77
5.6.4 SYSTEM INTEGRATORS 77
5.6.5 END USERS 77
5.7 ECOSYSTEM ANALYSIS 78
5.8 PORTER’S FIVE FORCES MODEL ANALYSIS 80
5.8.1 THREAT OF NEW ENTRANTS 81
5.8.2 THREAT OF SUBSTITUTES 81
5.8.3 BARGAINING POWER OF SUPPLIERS 81
5.8.4 BARGAINING POWER OF BUYERS 81
5.8.5 INTENSITY OF COMPETITIVE RIVALRY 81
5.9 PRICING ANALYSIS 82
5.9.1 PRICING ANALYSIS OF SOLUTION BY KEY PLAYERS 83
5.10 TECHNOLOGY ANALYSIS 83
5.10.1 KEY TECHNOLOGIES 83
5.10.1.1 Quantum key distribution (QKD) 83
5.10.1.2 Quantum random number generators (QRNG) 84
5.10.1.3 Quantum entanglement 84
5.10.1.4 Quantum digital signatures (QDS) 84
5.10.2 COMPLEMENTARY TECHNOLOGIES 85
5.10.2.1 Blockchain technology 85
5.10.2.2 Public key infrastructure (PKI) 85
5.10.2.3 Transport layer security (TLS) 85
5.10.3 ADJACENT TECHNOLOGIES 85
5.10.3.1 Quantum computing 85
5.10.3.2 Quantum communication 86
5.10.3.3 AI/ML 86
5.10.3.4 Cloud computing 86
5.11 PATENT ANALYSIS 87
5.11.1 METHODOLOGY 87
5.12 TRADE ANALYSIS 91
5.12.1 IMPORT DATA 91
5.12.2 EXPORT DATA 92
 
5.13 TARIFF & REGULATORY LANDSCAPE 93
5.13.1 TARIFFS RELATED TO QUANTUM CRYPTOGRAPHY PRODUCTS 93
5.13.2 NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY (NIST) 94
5.13.3 EUROPEAN TELECOMMUNICATIONS STANDARDS INSTITUTE (ETSI) 94
5.13.4 INTERNATIONAL ORGANIZATION FOR STANDARDIZATION (ISO) 95
5.13.5 INTERNATIONAL TELECOMMUNICATION UNION (ITU) 95
5.13.6 INTERNET ENGINEERING TASK FORCE (IETF) 95
5.13.7 CLOUD SECURITY ALLIANCE (CSA) 95
5.13.8 GLOBAL FORUM ON CYBER EXPERTISE (GFCE) 96
5.13.9 WORLD ECONOMIC FORUM (WEF) 96
5.13.10 ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT (OECD) 96
5.13.11 INTERNATIONAL ASSOCIATION FOR CRYPTOLOGIC RESEARCH (IACR) 96
5.13.12 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 97
5.14 KEY STAKEHOLDERS AND BUYING CRITERIA 102
5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS 102
5.14.2 BUYING CRITERIA 103
5.15 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 104
5.16 KEY CONFERENCES & EVENTS, 2024–2025 105
5.17 BUSINESS MODEL ANALYSIS 107
5.17.1 QUANTUM KEY DISTRIBUTION AS A SERVICE (QKDAAS) 107
5.17.2 LICENSING OF QUANTUM CRYPTOGRAPHIC TECHNOLOGY 108
5.17.3 HARDWARE AND SOFTWARE SALES 108
5.17.4 QUANTUM CRYPTOGRAPHY AS A SERVICE (QCAAS) 108
5.17.5 INTEGRATED SECURITY SOLUTIONS 108
5.17.6 CONSULTING AND ADVISORY SERVICES 109
5.17.7 CLOUD-BASED QUANTUM CRYPTOGRAPHY SOLUTIONS 109
5.17.8 RESEARCH AND DEVELOPMENT PARTNERSHIPS 109
5.17.9 GOVERNMENT CONTRACTS 109
5.18 INVESTMENT AND FUNDING SCENARIO 110
6 QUANTUM CRYPTOGRAPHY MARKET, BY SOLUTION 111
6.1 INTRODUCTION 112
6.1.1 SOLUTIONS: QUANTUM CRYPTOGRAPHY MARKET DRIVERS 114
6.2 QUANTUM KEY DISTRIBUTION (QKD) 114
6.2.1 ABILITY TO PROVIDE UNCONDITIONAL SECURITY TO DRIVE MARKET 114
6.2.2 DISCRETE VARIABLE QKD (DV-QKD) 115
6.2.3 CONTINUOUS VARIABLE QKD (CV-QKD) 115
6.3 QUANTUM-RANDOM NUMBER GENERATORS (QRNG) 116
6.3.1 PROVISION OF HIGH LEVELS OF RANDOMNESS TO DRIVE DEMAND 116
6.3.2 QRNG CHIPS 117
6.3.3 QRNG USB DEVICES 118
6.3.4 PCIE CARDS 118
6.3.5 HARDWARE SECURITY MODULES (HSM) 119
6.4 QUANTUM-SAFE CRYPTOGRAPHY 119
6.4.1 ABILITY TO RESIST CLASSICAL AND QUANTUM ATTACKS TO BOOST MARKET 119
6.5 QUANTUM KEY MANAGEMENT 120
6.5.1 GROWING DEMAND TO PROTECT SENSITIVE CLIENT DATA TO FUEL MARKET 120
7 QUANTUM CRYPTOGRAPHY MARKET, BY SERVICE 121
7.1 INTRODUCTION 122
7.1.1 SERVICES: QUANTUM CRYPTOGRAPHY MARKET DRIVERS 123
7.2 PROFESSIONAL SERVICES 123
7.2.1 DEMAND FROM COMPANIES TRANSITIONING TO QUANTUM-SAFE TECHNOLOGIES TO DRIVE MARKET 123
7.2.2 CONSULTING 124
7.2.3 DEPLOYMENT & INTEGRATION 124
7.2.4 SUPPORT & MAINTENANCE 125
7.3 MANAGED SERVICES 125
7.3.1 RISING DEMAND DUE TO INCREASING RISK OF CYBERATTACKS TO BOOST MARKET 125
8 QUANTUM CRYPTOGRAPHY MARKET, BY SECURITY TYPE 127
8.1 INTRODUCTION 128
8.2 NETWORK SECURITY 129
8.2.1 RISING VIRTUALIZATION OF SERVERS AND USE OF CLOUD SERVICES TO DRIVE DEMAND 129
8.3 APPLICATION SECURITY 129
8.3.1 INCREASING NEED FOR PROTECTION AGAINST HIGH-RISK ATTACKS TO BOOST MARKET 129
8.4 CLOUD SECURITY 130
8.4.1 URGENT NEED TO FUTURE-PROOF CLOUD ENVIRONMENTS TO FUEL MARKET 130
9 QUANTUM CRYPTOGRAPHY MARKET, BY TRANSMISSION MEDIUM 131
9.1 INTRODUCTION 132
9.1.1 TRANSMISSION MEDIUMS: QUANTUM KEY DISTRIBUTION MARKET DRIVERS 133
9.2 FIBER-OPTIC CABLE TRANSMISSION 133
9.2.1 HIGH SECURITY LEVELS AND SCALABILITY TO DRIVE DEMAND 133
9.3 SATELLITE-BASED TRANSMISSION 133
9.3.1 SUITABILITY TO GLOBAL-SCALE APPLICATIONS TO FUEL MARKET 133
 
10 QUANTUM CRYPTOGRAPHY MARKET, BY DEPLOYMENT MODE 134
10.1 INTRODUCTION 135
10.1.1 DEPLOYMENT MODES: QUANTUM CRYPTOGRAPHY MARKET DRIVERS 136
10.2 ON-PREMISES 136
10.2.1 NEED FOR COMPLETE OVERSIGHT OF ENCRYPTION PROCESSES TO DRIVE DEMAND 136
10.3 CLOUD 136
10.3.1 COST-EFFECTIVENESS AND SCALABILITY TO BOOST MARKET 136
11 QUANTUM CRYPTOGRAPHY MARKET, BY ORGANIZATION SIZE 137
11.1 INTRODUCTION 138
11.1.1 ORGANIZATION SIZES: QUANTUM CRYPTOGRAPHY MARKET DRIVERS 139
11.2 SMES 139
11.2.1 INCREASING ADOPTION OF CUSTOMIZED CLOUD-BASED SOLUTIONS TO DRIVE MARKET 139
11.3 LARGE ENTERPRISES 139
11.3.1 RISING NEED TO SAFEGUARD SENSITIVE DATA TO FUEL DEMAND 139
12 QUANTUM CRYPTOGRAPHY MARKET, BY VERTICAL 140
12.1 INTRODUCTION 141
12.1.1 VERTICALS: QUANTUM CRYPTOGRAPHY MARKET DRIVERS 142
12.2 BANKING, FINANCIAL SERVICES, AND INSURANCE (BFSI) 142
12.2.1 NEED TO PROTECT SENSITIVE AND PROPRIETARY INFORMATION TO DRIVE DEMAND 142
12.3 GOVERNMENT & DEFENSE 143
12.3.1 RISING REQUIREMENT TO SAFEGUARD CRITICAL INFORMATION TO FUEL MARKET 143
12.4 HEALTHCARE 143
12.4.1 GROWING DEMAND TO SECURE PATIENT INFORMATION TO BOOST MARKET 143
12.5 IT & ITES 144
12.5.1 INCREASING USE OF CLOUD SERVICES TO PROPEL MARKET 144
12.6 ENERGY & UTILITIES 144
12.6.1 GROWING ADOPTION OF IOT IN ENERGY SYSTEMS TO FUEL DEMAND 144
12.7 OTHER VERTICALS 144
13 QUANTUM CRYPTOGRAPHY MARKET, BY REGION 145
13.1 INTRODUCTION 146
13.2 NORTH AMERICA 147
13.2.1 NORTH AMERICA: QUANTUM CRYPTOGRAPHY MARKET DRIVERS 147
13.2.2 NORTH AMERICA: MACROECONOMIC OUTLOOK 148
13.2.3 US 155
13.2.3.1 Rising research and development initiatives to drive market 155
 
13.2.4 CANADA 161
13.2.4.1 Government and private sector investments to boost market 161
13.3 EUROPE 167
13.3.1 EUROPE: QUANTUM CRYPTOGRAPHY MARKET DRIVERS 167
13.3.2 EUROPE: MACROECONOMIC OUTLOOK 168
13.3.3 UK 174
13.3.3.1 Increasing research in quantum technology to boost market 174
13.3.4 GERMANY 180
13.3.4.1 Increased government investments to fuel market 180
13.3.5 FRANCE 186
13.3.5.1 Rising investments and innovation to bolster market 186
13.3.6 ITALY 192
13.3.6.1 Strong technological base to drive innovation in market 192
13.3.7 REST OF EUROPE 197
13.4 ASIA PACIFIC 198
13.4.1 ASIA PACIFIC: QUANTUM CRYPTOGRAPHY MARKET DRIVERS 199
13.4.2 ASIA PACIFIC: MACROECONOMIC OUTLOOK 199
13.4.3 CHINA 206
13.4.3.1 Extensive research activities to strengthen market 206
13.4.4 JAPAN 212
13.4.4.1 Strategic collaborations to propel market 212
13.4.5 INDIA 218
13.4.5.1 Significant government investments to bolster market 218
13.4.6 REST OF ASIA PACIFIC 224
13.5 MIDDLE EAST & AFRICA 225
13.5.1 MIDDLE EAST & AFRICA: QUANTUM CRYPTOGRAPHY MARKET DRIVERS 225
13.5.2 MIDDLE EAST & AFRICA: MACROECONOMIC OUTLOOK 226
13.5.3 GCC COUNTRIES 232
13.5.3.1 Government initiatives and advancements in technologies to drive market 232
13.5.3.2 KSA 238
13.5.3.2.1 Collaborative efforts and investments to fuel market 238
13.5.3.3 UAE 239
13.5.3.3.1 Rising cybersecurity concerns to drive demand 239
13.5.3.4 Rest of GCC Countries 239
13.5.4 SOUTH AFRICA 240
13.5.4.1 Growing government initiatives and research activities to bolster market 240
13.5.5 REST OF MIDDLE EAST & AFRICA 246
 
13.6 LATIN AMERICA 251
13.6.1 LATIN AMERICA: QUANTUM CRYPTOGRAPHY MARKET DRIVERS 251
13.6.2 LATIN AMERICA: MACROECONOMIC OUTLOOK 252
13.6.3 BRAZIL 258
13.6.3.1 Increasing need to safeguard sensitive data to drive demand 258
13.6.4 MEXICO 258
13.6.4.1 Digital transformation in industries to fuel market 258
13.6.5 REST OF LATIN AMERICA 259
14 COMPETITIVE LANDSCAPE 260
14.1 KEY PLAYER STRATEGIES/RIGHT TO WIN 260
14.2 REVENUE ANALYSIS 261
14.3 MARKET SHARE ANALYSIS 262
14.4 BRAND COMPARISON 264
14.5 COMPANY VALUATION AND FINANCIAL METRICS 265
14.5.1 COMPANY VALUATION 265
14.5.2 FINANCIAL METRICS 265
14.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 265
14.6.1 STARS 266
14.6.2 EMERGING LEADERS 266
14.6.3 PERVASIVE PLAYERS 266
14.6.4 PARTICIPANTS 266
14.6.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 268
14.6.5.1 Company footprint 268
14.6.5.2 Solution footprint 268
14.6.5.3 Service footprint 269
14.6.5.4 Vertical footprint 269
14.6.5.5 Region footprint 270
14.7 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 270
14.7.1 PROGRESSIVE COMPANIES 270
14.7.2 RESPONSIVE COMPANIES 271
14.7.3 DYNAMIC COMPANIES 271
14.7.4 STARTING BLOCKS 271
14.7.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 272
14.7.5.1 Detailed list of key startups/SMEs 272
14.7.5.2 Competitive benchmarking of key startups/SMEs 273
14.8 COMPETITIVE SCENARIO 276
14.8.1 PRODUCT LAUNCHES 276
14.8.2 DEALS 283
 
15 COMPANY PROFILES 295
15.1 KEY PLAYERS 295
15.1.1 TOSHIBA 295
15.1.1.1 Business overview 295
15.1.1.2 Products/Solutions/Services offered 296
15.1.1.3 Recent developments 297
15.1.1.4 MnM view 300
15.1.1.4.1 Key strengths 300
15.1.1.4.2 Strategic choices 300
15.1.1.4.3 Weaknesses and competitive threats 300
15.1.2 NXP SEMICONDUCTORS 301
15.1.2.1 Business overview 301
15.1.2.2 Products/Solutions/Services offered 302
15.1.2.3 Recent developments 303
15.1.2.4 MnM view 304
15.1.2.4.1 Key strengths 304
15.1.2.4.2 Strategic choices 304
15.1.2.4.3 Weaknesses and competitive threats 304
15.1.3 THALES 306
15.1.3.1 Business overview 306
15.1.3.2 Products/Solutions/Services offered 307
15.1.3.3 Recent developments 308
15.1.3.4 MnM view 311
15.1.3.4.1 Key strengths 311
15.1.3.4.2 Strategic choices 311
15.1.3.4.3 Weaknesses and competitive threats 311
15.1.4 IDEMIA 312
15.1.4.1 Business overview 312
15.1.4.2 Products/Solutions/Services offered 312
15.1.4.3 Recent developments 313
15.1.4.4 MnM view 314
15.1.4.4.1 Key strengths 314
15.1.4.4.2 Strategic choices 314
15.1.4.4.3 Weaknesses and competitive threats 315
15.1.5 PALO ALTO NETWORKS 316
15.1.5.1 Business overview 316
15.1.5.2 Products/Solutions/Services offered 317
15.1.5.3 Recent developments 318
15.1.5.4 MnM view 320
15.1.5.4.1 Key strengths 320
15.1.5.4.2 Strategic choices 321
15.1.5.4.3 Weaknesses and competitive threats 321
15.1.6 DIGICERT 322
15.1.6.1 Business overview 322
15.1.6.2 Products/Solutions/Services offered 322
15.1.6.3 Recent developments 323
15.1.7 QUINTESSENCELABS 324
15.1.7.1 Business overview 324
15.1.7.2 Products/Solutions/Services offered 324
15.1.7.3 Recent developments 325
15.1.8 QUANTUMCTEK 326
15.1.8.1 Business overview 326
15.1.8.2 Products/Solutions/Services offered 326
15.1.9 ISARA 330
15.1.9.1 Business overview 330
15.1.9.2 Products/Solutions/Services offered 330
15.1.9.3 Recent developments 331
15.1.10 IBM 332
15.1.10.1 Business overview 332
15.1.10.2 Products/Solutions/Services offered 333
15.1.10.3 Recent developments 336
15.1.11 ID QUANTIQUE 338
15.1.11.1 Business overview 338
15.1.11.2 Products/Solutions/Services offered 338
15.1.11.3 Recent developments 343
15.1.12 MAGIQ TECHNOLOGIES 346
15.1.12.1 Business overview 346
15.1.12.2 Products/Solutions/Services offered 346
15.1.13 CRYPTA LABS 347
15.1.13.1 Business overview 347
15.1.13.2 Products/Solutions/Services offered 347
15.1.14 QASKY 349
15.1.14.1 Business overview 349
15.1.14.2 Products/Solutions/Services offered 349
15.1.14.3 Recent developments 350
15.1.15 QUBITEKK 351
15.1.15.1 Business overview 351
15.1.15.2 Products/Solutions/Services offered 351
15.1.15.3 Recent developments 352
15.1.16 NUCRYPT 354
15.1.16.1 Business overview 354
15.1.16.2 Products/Solutions/Services offered 354
 
15.1.17 QUANTUM XCHANGE 356
15.1.17.1 Business overview 356
15.1.17.2 Products/Solutions/Services offered 356
15.1.17.3 Recent developments 357
15.2 OTHER PLAYERS 359
15.2.1 QUTOOLS 359
15.2.2 QNU LABS 360
15.2.3 POST QUANTUM 361
15.2.4 HPE 362
15.2.5 NEC 362
15.2.6 CRYPTO QUANTIQUE 363
15.2.7 QRYPT 363
15.2.8 KETS QUANTUM SECURITY 364
15.2.9 PQ SHIELD 364
15.2.10 QUBALT 365
15.2.11 VERIQLOUD 365
15.2.12 SSH COMMUNICATIONS SECURITY 366
15.2.13 HEQA SECURITY (FORMERLY QUANTLR) 367
15.2.14 QUSECURE 368
16 ADJACENT MARKETS 369
16.1 INTRODUCTION 369
16.2 LIMITATIONS 369
16.3 POST-QUANTUM CRYPTOGRAPHY MARKET 369
16.4 QUANTUM COMPUTING MARKET 371
16.4.1 QUANTUM COMPUTING MARKET, BY OFFERING 372
16.5 ENCRYPTION SOFTWARE MARKET 374
16.5.1 ENCRYPTION SOFTWARE, BY DEPLOYMENT MODE 375
17 APPENDIX 378
17.1 DISCUSSION GUIDE 378
17.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 382
17.3 CUSTOMIZATION OPTIONS 384
17.4 RELATED REPORTS 384
17.5 AUTHOR DETAILS 385