ICT RESEARCH REPORTS Quantum-Cryptography-Market | Page 2

on cloud or on-premises is vulnerable to cyber-attacks by various software such as Trojan horses
and viruses, which consequently increases the requirement of quantum cryptography solutions.
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However, low customer awareness about quantum cryptography is one of the key restraining
factors in the global quantum cryptography market.
Quantum Cryptography Market Taxonomy:
On the basis of application, the global quantum cryptography market is segmented
into:
•Database Encryption
•Application Security
•Network Security
On the basis of end user industry, the global quantum cryptography market is
segmented into:
•Banking, Finance Services and Insurance
•Telecom and IT
•Government and Defense
•Healthcare and Life sciences
•Consumer Good and Retail
Quantum Cryptography Market: Regional Insights
The global quantum cryptography market is segmented on the basis of regions into North
America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market for quantum
cryptography in North America is expected to dominate the global market during forecast period.
This growth is attributed to increasing cyber-attacks in this region on web based business such as
healthcare, banking and financial, and retail and manufacturing. For instance, according to the
Internet Crime Complaint Center (IC3), in 2016, cybercrimes resulted in a loss of over US$ 1.33
billion globally. California witnessed the highest recorded loss with over US$ 255 million. In 2016,
around 28% of web application attacks were recorded in the U.S., followed by the Netherlands
and Germany. This in turn creates a highly conducive environment for growth of the market.