Quantum Key Distribution (QKD) Market Report: GAGR is expected to be 35.7% during 2023-2029

Quantum Key Distribution (QKD) uses physics instead of mathematics to encode messages, which provides greater security.

The genesis of QKD (Quantum Key Distribution) traces back to the late 1960s, when Stephen Wiesner first proposed the idea of encoding information on photons to securely transfer messages. In 1984, the physicist Charles Bennett and cryptographer Gilles Brassard worked together to mature this idea by introducing the first QKD protocol, known as “BB84”. Five years later, they built the first QKD prototype system which was said to be “secure against any eavesdropper who happened to be deaf” as it made audible noises while encoding crypto key onto single photons.

From its relatively humble beginnings, QKD has gained global interest as a unique cybersecurity solution with active research groups across North America, Europe, Australia, and Asia.

According to the new market research report “Quantum Key Distribution (QKD) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Quantum Key Distribution (QKD) market size is projected to reach USD 6.82 billion by 2029, at a CAGR of 35.7% during the forecast period.

• Global Quantum Key Distribution (QKD) MarketSize(US$ Million), 2018-2029

Source: QYResearch, "Quantum Key Distribution (QKD) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

• Global Quantum Key Distribution (QKD) Top7Players Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)

Source: QYResearch, "Quantum Key Distribution (QKD) - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”

The global key manufacturers of Quantum Key Distribution (QKD) include MagiQ Technologies, ID Quantique, Quintessence Labs, QuantumCTek, Qasky, etc. In 2021, the global top four players had a share approximately 64.0% in terms of revenue.

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