Data Security Issues Compounded by the Rise of Quantum Computers That Make Current Encryption Methods Useless Drives Interest in Quantum-Safe Encryptions
The global market for Quantum Cryptography is forecast to reach US$2.6 billion by 2024 , driven by the rising need to make data transmission secure, the impending threat of quantum computers, and growing QKD research in China and other regional markets. The increasing dependence on computer networks for business communications and transactions involving sharing of business-critical information has created a pressing need for sophisticated encryption options to ensure security of sensitive data from third parties. The requirement to make data transmission secure and mitigate cyber security issues remains the primary driver for overall growth of the quantum cryptography market. In recent years, quantum cryptography has garnered notable interest from governments, commercial organizations and military operators on account of its matchless security levels. Quantum Cryptography relies on Quantum Key Distribution (QKD) that generates and distributes random secret keys to assist traditional ...