Quantum Key Distribution market is all set to go through the roof in this decade

Anish Dasgupta

August 11, 2020

Quantum cryptography and specifically Quantum Key Distribution (QKD) has been in the talks for the past few years, and its market is predicted to see a boom in the present decade. Although this form of cryptography is already in use (for example, it has been used to protect votes in Geneva’s elections since 2007), we have only scratched the surface of its full commercial potential. With prominent companies like Nokia and Toshiba investing in QKD, the market is set to see faster growth, with a predicted total revenue of 4 billion USD of QKD systems (by end-users) by 2029. In this race, China is a key player, the country’s enthusiasm fuelled by its rivalry with the USA. According to recent reports, Post Quantum Cryptography (PQC), an idea of algorithms protected from both classical and quantum computers, may be under threat from stronger quantum computers in the future. Thus, PQC and QKD need not necessarily be rivals anymore and have a chance of growing together. The major participants of the race are preparing marketing strategies and doing progressive research to get ready for a time when we see quantum computers in our daily lives.

Abridged fromQuantaneo