NEW YORK, Dec. 14, 2021 /PRNewswire/ — According to a new report from Inside Quantum Technology, the worldwide market for Quantum Key Distribution (QKD) will near $1.4 billion in 2027 and then go on to around $3.4 Billion by 2030. QKD is a technique that ensures perfect security on a transmission line, guaranteed by the laws of quantum mechanics.
More details on the report, Quantum Key Distribution Markets: QKD in a Quantum Safe World: 2021 – 2030 can be found at: https://www.insidequantumtechnology.com/product/quantum-key-distribution-markets-qkd-in-a-quantum-safe-world-2021-2030/
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About the Report:
IQT Research has covered the QKD market since 2014. We were the first industry analysis firm to predict that quantum security in mobile phones would become a significant revenue earner in the short-term. This report has been compiled from interviews from key players in the industry as well as with the assistance of government intelligence experts.
There have been big developments in the QKD space since our previous report. Perhaps the most important are the strong signs that QKD chips are close to becoming a reality expanding the potential market for QKD dramatically. Meanwhile, QKD-related standardization efforts are reaching their conclusion, and new applications and testbeds for QKD are emerging. On the other hand, the intelligence community says it worries that QKD is not all it’s cracked up to be.
This report contains ten-year forecasts of QKD for each of the major applications sections including
national and civil government, the financial sector, telecommunications (including 5G), data centers, utilities, infrastructure, mobile communications and possible consumer markets. There are also market forecasts broken out by end-user country and transportation type (satellite, fiber optic and free space). In addition, the report contains strategic profiles of the "A list" of QKD including Cisco, Hitachi Energy
ID Quantique, KETS Quantum, MagiQ Technologies, Nokia, QEYnet, QRate, Quantropi, QuantumCTek, Quantum XChange, Qubitekk, Quintessence Labs, and Toshiba.
In addition to important QKD vendors, the new IQT Research report also profiles the Chinese national QKD network, the nationwide QKD network in Korea, the London Metro Network, Europe and the Open QKD program, LIQuiDNet, the Chicago Quantum Loop and the Future US Quantum Network.
Purchasers of this report will IQT Research’s forecasts in the form of a Excel worksheet, which (1) enables "what if" games to be played and (2) our QKD numbers to be combined with internal corporate forecasts.
From the Report:
- The advent of QKD chips, from Toshiba and others, will enable QKD to penetrate much deeper into the information infrastructure. The addressable market of QKD will expand while prices drop. QKD chips per se can be seen as part of a larger trend towards miniaturization of quantum systems. New ways of building QKD chips represent an opportunity. For example, Chinese researchers have fabricated a quantum communications system using a silicon photonics chip, with a superconducting nanowire single-photon detector, a key element of QKD.
- Military and government markets currently represent the most significant installed base of QKD systems and the biggest opportunity in the near term. Governments also play a key role in the development of QKD through their funding of quantum technology development programs. Nonetheless, the skepticism about the true need for QKD will slow growth of QKD in the government sector.
- QKD could serve in important ways in utilities—especially at electrical utilities but other utilities too—and there is a growing focus on this by QKD vendors. Areas where QKD may be deployed include smart grids, dams, railroad crossings, roadway signals, etc. These represent a growing security risk as the use of remote sensing and control becomes pervasive. While QKD will be adopted in the utilities, its rate of adoption may be slow. On the enabling side, typically utilities have fiber already installed and the distances over which QKD is supposed to protect is well within the capabilities of today’s QKD—under 20 km.
About IQT Research:
IQT Research is a division of 3DR Holdings, and the first industry analyst firm dedicated to meeting the strategic information and analysis needs of the emerging quantum technology sector. In addition to publishing reports on critical business opportunities in the quantum technology sector, Inside Quantum Technology produces a daily news website on business-related happenings in quantum technology. https://www.insidequantumtechnology.com/.
3DR Holdings organizes the Inside Quantum Technology conferences. The next conference "Inside Quantum Technology – The Hague" will be held February 21-23, 2022 and covers all aspects of quantum technology. It will be a hybrid event based in the Netherlands. https://iqtevent.com/thehague/
For more details on the QKD report, contact:
212-677-8700 ext. 118
SOURCE Inside Quantum Technology