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Demand rises for next-generation security solutions for Cloud and IoT
The “Quantum Cryptography Market by Component, Services, Security Type, Vertical & Region – Global Forecast to 2023” report recently revealed that global quantum cryptography market is expected to grow from $101 million in 2018 to $506 million by 2023, at a Compound Annual Growth Rate (CAGR) of 37.9 percent during the forecast period. Major growth factors for the market include the growing incidents of cyber-attacks in the era of digitalization, increasing cybersecurity funding, rising demand of next-generation security solutions for cloud and IoT technologies, and evolving next-generation wireless network technologies. However, lack of expertise and high implementation cost could restrain the market growth.
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