Research Nester’s recent market research analysis on “Quantum Communication Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global quantum communication market in terms of market segmentation by product type, security service, application and by region.
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Rising Concern for Securing Client Information and Rise in Online Gaming to Promote Global Market Share of Quantum Communication Market
The global quantum communication market is estimated to grow majorly on account of the increased utilization of the technique in the defense and government industries and the surge in the adoption of secure communication techniques. For instance, the most common types of attacks in aerospace and defense over the past three years have been ransomware attacks (22.1%), data breaches (18.5%), and phishing attacks (15%). Quantum sensors have the potential to revolutionize military operations by providing unprecedented levels of accuracy and precision. On the back of this, the global quantum communication market is anticipated to garner remarkable growth during the forecasted period. Other than this, there are numerous breaches in credit card security. For instance, credit card fraud costs the world almost USD 14.1 billion annually. Quantum communication has plenty of potential for encrypting credit cards and protecting them against threats. There has been a rising adoption of quantum communication to curb this loss, fueling the global quantum communication market growth during the forecast period. Other than this, the widespread inclusion of the Internet of Things is prompting the quantum communication market growth. With the use of quantum cryptography, data can be encrypted and establish secure keys across the devices. Owing to the increased adoption of quantum communication in the Internet of Things, the global quantum communication market growth is projected to garner remarkable growth during the forecasted period.
Some of the major growth factors and challenges that are associated with the growth of the global quantum communication market are:
Growth Drivers:
• Increasing Demand in Government, Defense, and Military, BFSI, Enterprise
• Global Increase in Usage of Smartphones
Challenges:
The surge in stringent regulations, the need for high investment for implementation, and the rising risk of cyber security are some of the major factors anticipated to hamper the global market size of the global quantum communication market.
By application, the global quantum communication market is segmented into national defense, aerospace, BFSI, government, telecommunication, enterprise, and industrial. Out of these, the national defense segment is set to generate the maximum share in the market of over 31% over the forecasted period. The segment is projected to garner maximum share on the back of increasing investment in the defense sector globally.
By region, the Europe quantum communication market is to generate the highest revenue by the end of 2036. The rising investment in making robust defense infrastructure is expected to fuel the quantum communication market in the region. Also, in Europe, there is a high reliance on fiber communication networks linking strategies, fueling the growth of the segment.
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