Inside Quantum Technology Report says Quantum Key Distribution Market to Reach $980 million by 2024
Crozet, Virginia: The Quantum Key Distribution (QKD) market will grow to over $980 million by 2024 compared to around $85 million this year. So says the industry analyst firm, Inside Quantum Technology, in its latest report “Quantum Key Distribution (QKD) Markets: 2019 to 2028.” This 100-page report is available now for purchase. A sample and a full table of contents are available at https://www.insidequantumtechnology.com/product/quantum-key-distribution-qkd-markets-2019-2028/
This report identifies all the opportunities in the QKD space as well as their revenue potential. It also discusses the latest QKD R&D and standards setting.
About the Report:
Quantum Key Distribution (QKD) is a major encryption technology designed to protect critical data in the quantum computing era. When Inside Quantum Technology published its first report on QKD in 2016, QKD was still mostly experimental and aimed at government/military markets. Today, the addressable market for Quantum Key Distribution is expanding to business users and infrastructure providers, such as telephone companies.
Strategic profiles of 21 leading firms supplying Quantum Key Distribution systems and related components are also provided. The report discusses how each firm is positioned for the QKD market, how their product/market strategies will evolve, and how they are being financed. Firms covered in these profiles include ABB, Fujitsu, ID Quantique, MagiQ, Nokia, NTT, Nucrypt, QuantumXChange, Quintessance Labs, Raytheon, Toshiba and others including leading telephone companies and startups.
This report provides ten-year market forecasts of QKD revenues and shipments for equipment and sub-systems. These forecasts are broken out by product and technology type, application, end-user industry, and end-user geography. The report also examines the latest R&D and QKD standards making and the use of QKD in civilian government; military, intelligence and domestic security; financial services; telecommunications; data centers; mobile communications; and the Internet-of-Things.
From the Report:
• In 2024, telephone companies will purchase $245 million of QKD gear. Some telephone companies – notably BT and NTT — have been visible in QKD technology development for years, but other telcos are rapidly joining them. Meanwhile, the first specialist QKD carrier, QuantumXchange, is creating a QKD link between Manhattan and northern New Jersey. Both Nokia and ZTE have been developing QKD products specifically for telephone company networks.
• In late 2018 Toshiba demonstrated the first QKD test network with sustained key transmission rates of over 10 Mbps. In addition, fiber optic QKD networks can be extended over 500 miles. Nonetheless, the need for quantum repeaters in terrestrial networks means that we are nowhere near the stage where satellite-delivered QKD networks will disappear—indeed this may never happen. By 2024, $254 million will be spent on satellite-based QKD networks. Nations which have QKD deployed on satellite networks include Japan, Italy, Germany, Singapore, Canada, and the U.K. China is the leader here – it has demonstrated space-to-ground QKD from its Micias satellite and from the Tiangong-2 Space Lab.
• National power grids, and other infrastructure represents a significant security risk as the use of remote sensing and control becomes pervasive. The security infrastructure for these networks was seldom designed with hackers in mind. One of the most significant signs that QKD is being embraced in this area is the purchase of Keymile’s QKD and communications business by ABB. Nonetheless, infrastructure companies tend to be very conservative with respect to technology change and such companies will embrace QKD slowly.
About Inside Quantum Technology:
Inside Quantum Technology (https://www.insidequantumtechnology.com) is the first industry analyst firm to provide coverage of all aspects of quantum technology including quantum computing, post-quantum encryption, QKD and quantum sensors.
In addition to its industry analysis reports, Inside Quantum Technology organizes two annual quantum summits – in Europe and the United States – and publishes Quantum Technology News, a daily update on all things quantum technology.