South America Quantum Cryptography Market to Grow at 22.85% CAGR by 2023
Rising
incidences of data theft and cyberattacks, growing implementation of cloud
storage and IoT solutions, and increasing need to safeguard crucial data to
drive South America quantum cryptography market through 2023
According to TechSci Research
report, “South
America Quantum Cryptography Market By Component, By
Application, By End-User, By Country, Competition Forecast & Opportunities,
2013-2023”, the quantum cryptography market
in South America is projected to grow at a CAGR of 23% during 2018-2023. As number
of cyberattacks and data theft
cases, number of connected devices and data security concerns among enterprises
and government organizations is growing across the region, the quantum cryptography market
in South America is expected to exhibit a double-digit growth in the coming
years. Some of the major players in the region’s market are ID Quantique SA, MagiQ Technologies, Inc., Quintessence Labs Pty Ltd.,
Qubitekk, Inc., etc.
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Figures spread through 52 Pages and an in-depth TOC on "South America Quantum Cryptography
Market"
https://www.techsciresearch.com/report/south-america-quantum-cryptography-market/3251.html
Advent of quantum computers, booming
IoT market (generating huge data) and growing use of cloud storage data are
among the other key factors anticipated to boost the adoption of quantum
cryptography in the region, as quantum cryptography plays a pivotal role in
cybersecurity. On the basis of end
user sectors, the market is segmented into IT & Telecom, BFSI, government
& defense and others. IT & Telecom is anticipated to become the fastest
growing segment, as this sector majorly deals in data transmission and storage,
which makes the adoption of quantum cryptography a priority. Brazil is likley to
lead the regional market share, owing to the increasing investment by
government in enterprises in the field of quantum cryptography.
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“Smartphone
penetration is growing at a robust pace across the region. Large amount of
sensitive data is stored on the phones, which are also used for carrying out
payment transactions. A new technology developed by SK Telecom in partnership
with Nokia will help provide quantum encryption on smartphones and safeguard
the data, thereby resulting in a positive impact on the region’s quantum
cryptography market in the coming years.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“South America Quantum Cryptography Market By
Component, By Application, By End-User, By Country, Competition Forecast &
Opportunities, 2013-2023” has
evaluated the future growth potential of the quantum cryptography market and
has also provided the statistics and information on market structure, size,
share and future growth of quantum cryptography market. The report intends to
provide cutting-edge market intelligence and help decision makers to take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities
existing in the market.
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