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.
Global Quantum Key Distribution (QKD) Market- Key Players
ID Quantique, SeQureNet, Quintessence Labs, MagiQ Technologies, Toshiba, QuantumCTek, Qasky, Qudoor are key players, in the global Quantum Key Distribution (QKD) industry. ID Quantique, SeQureNet, Toshiba, MagiQ Technologies, Quintessence Labs are top 5 players. In 2020, the top 5 players accounted for about 81% market share.
Global Quantum Key Distribution (QKD) Market: Application Analysis
For the Quantum Key Distribution (QKD) market, the target clients are the government, financial companies, corporations, medium-sized business and universities. At the moment, sales of QKD systems appear to be restricted to certain high-end financial systems and classified government communications. In the previous year, Financial segment dominated the market with the share of 37.03%, followed by Government segment and Military & Defense segment, which accounted for the market of 30.25% and 23.94% respectively. Further development requires diversifying into new applications.
Ambitious plans for QKD networks exist in US (Battelle), Japan (NICT) and China (QuantumCTek). In the forecast period, the global Quantum Key Distribution (QKD) market size is estimated to grow to $ 4605.17 million by 2027 from $ 1106.04 million in 2020, growing at an estimated CAGR of 21.54% between 2021 and 2027.
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