The global quantum communication market size is projected to grow from USD 0.74 billion in 2024 to USD 5.54 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 39.6% during the forecast period.
Quantum communication technology is mainly driven by – the greater need for data protection. Organizations and governments seek out more secure means of communication, such as Quantum Key Distribution (QKD) and quantum-proof ones, as cyber threats have become more sophisticated and the risk of quantum hacking traditional encryption is looming. The technology is evolving, offering a level of protection that is beyond what can be by offering a level of protection that is beyond what can be provided offered by standard methods such as RSA and AES, leading to the growth of the quantum communication market.
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Based on the offering, the solution segment accounts for the highest market size during the forecast period.
The solution segment is expected to account for the highest market size during the forecast period. This growth is driven by the increasing demand for advanced security solutions, such as Quantum Key Distribution (QKD) and quantum-encrypted communication channels. As organizations seek to protect sensitive data from evolving cyber threats, the adoption of these solutions is gaining momentum across various sectors, including IT & telecommunications, finance, and government. The providers of quantum communication solution includes Toshiba, ID Quantique, QuintessenceLabs, QuantumCTek, Qubitekk, and Quantum Xchange.
By region, Europe will grow at the highest CAGR during the forecast period.
By region, Europe is projected to grow at the highest CAGR during the forecast period in the quantum communication market. This growth is fueled by significant investments in quantum research and innovation, supported by initiatives such as the European Quantum Flagship program. Launched in 2018, the Quantum Flagship is one of the European Union’s largest research initiatives, with a budget of at least €1 billion over 10 years. It unites research institutions, academia, industry, and policymakers in a collaborative effort of unprecedented scale. The UK is at the forefront of the global race in quantum technology through the National Quantum Technologies Programme (NQTP), which unites academia, industry, and government to turn research strengths into commercial advantages.
Key Players
Toshiba (Japan), Thales (France), IDEMIA (France), ID Quantique (Switzerland), QuintessenceLabs (Australia), QuantumCTek (China), Qubitekk (US), Quantum Xchange (US), HEQA Security (Israel), MagiQ Technologies (US), Crypta Labs (UK), SpeQtral (Singapore), QEYnet (Canada), Qulabs (India), Quantropi (Canada), Qudoor (China), QTI SRL (Italy), nodeQ (UK), ThinkQuantum (Italy), Arqit (UK), Aliro Quantum (US), NuCrypt (US), Quantum Opus (US), Ki3 Photonics Technologies (Canada), Miraex (Switzerland), S-Fifteen Instruments (Singapore), QphoX (Netherlands), and Qunnect (US) are the key players and other players in the quantum communication market.
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