The Quantum Cryptography Market size is estimated at USD 0.58 billion in 2024, and is expected to reach USD 2.09 billion by 2029, growing at a CAGR of 29.19% during the forecast period (2024-2029).
The key drivers contributing to the increase in the adoption of data-intensive approaches and decisions with the growth, including the rise in the number of cyber-attacks globally with the growing digitalization, have the potential to damage the internet-linked digital infrastructure of various government or private sector enterprises, thereby significantly driving the market’s growth rate.
The quantum cryptography market is fragmented, with the presence of major players like QuintessenceLabs Pty Ltd, Crypta Labs Limited, ID Quantique SA, MagiQ Technologies Inc., and Nucrypt LLC. Market players are implementing strategies such as partnerships, innovations, and acquisitions to improve their product offerings and gain sustainable competitive advantage.
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