QKD Market Opportunities 2024: The Quantum-Safe Path to the Quantum Internet
IQT Research believes that Quantum Key Distribution (QKD) represents a product/market opportunity of immediate importance. QKD, combined with PQC, enables a two-pronged approach to cybersecurity in a world in which quantum computers will increasingly break public key encryption. Two points of failure in cybersecurity are better than one. At the same time, the relatively mature QKD technology provides a solid path to a future Quantum Internet. And, although QKD chips have not taken off as fast as was once expected, there is a good chance that, in the next few years, they will lower the cost of QKD deployment and broaden the markets in which they make sense.
IQT Research has been following the evolution of the QKD market since its earliest days and can comment on QKD opportunities from an insider perspective. This report represents our latest thinking on the topic and provides coverage of all the recent technological innovations in the space and the related ongoing standards and protocol development. The report also provides a granular analysis – with specific case study examples – of how QKD is being used in government, banking and finance, and to protect the critical infrastructure. We also examine the role that QKD will find in large enterprises.
This report also profiles the business strategies of approximately 30 QKD vendors and all the major QKD deployments worldwide. Finally, based on our current analysis of the QKD market, this report includes ten-year forecasts of QKD with breakouts by country, end-user type, etc.. These forecasts are provides to purchasers of the report in a separate Excel sheet, so that they can use them for constructed complex “what if” scenarios.
Table of Contents
Executive Summary
E.1 QKD Now Part of a “Quantum Safe” Sector
E.2 New Entrants into the QKD Market
E.3 QKD Transmission: Mixed Satellite and Fiber for Now
E.4 Impact of QKD Chips and Miniaturization
E.5 Applications for QKD
E.6 Government Support for QKD is Uncertain
E.7 QKD: The Next Generation
Chapter One: Introduction
1.1 Background to this Report
1.1.1 QKD vs. PQC?
1.1.2 QKD in the Mid-to-Late 2020s
1.2 Scope and Methodology of this Report
1.3 Faster Growing QKD Market Segments
1.3.1 A Note on QKD in Enterprise Networks
1.4 Plan of this Report
Chapter Two: QKD Technology Assessment
2.1 QKD: Next Generations
2.2 The Future of DI-QKD
2.3 CV-QKD versus DV-QKD
2.4 Some Notes on QKD Chips
2.4.1 Manufacturing QKD Chips
2.5 Progress Towards the Quantum Internet
2.5.1 Advances in Terrestrial/Fiber Optics QKD
2.6 Satellite-Based QKD Networks
2.7 Free-Space QKD Networks
2.7.1 A Note on Quantum Repeaters
2.8 A Note on QKD as a Service
2.8.1 Commercial QKDaaS
Chapter Three: Regulation, Standards and QKD
3.1 Standards, Protocol and Regulatory Environments
3.2 QKD Protocols
3.3 QKD Standards
3.3.1 International Standards Union (ITU-T)
3.3.2 ISO/IEC JTC 1
3.3.3 European Standardization of QKD: ETSI and OpenQKD
3.3.4 QKD Standardization in Japan
3.4 The National Security Agency: An Interesting Criticism of QKD
Chapter Four: QKD Applications and Networks
4.1 QKD: Customer Considerations in Buying into QKD
4.2 Influential QKD Networks Around the Globe
4.2.1 Chinese QKD Network
4.2.2 Nationwide QKD Network in South Korea
4.2.3 QKD Network in Japan
4.2.4 QKD Networks in Singapore
4.2.5 QKD Networks in India
4.2.6 QKD Networks in the UK
4.2.7 OpenQKD, EuroQCI and the EU
4.2.8 QKD in Switzerland
4.2.9 QKD Networks in Russia
4.2.10 QKD in the United States
4.2.11 QKD in Canada
4.2.12 QKD Networks in South Africa
4.3 QKD End Users: Beyond the Testbeds
4.3.1 QKD: A Military and Intelligence Option?
4.3.2 QKD: QKD in Civil Government
4.3.3 Role of QKD In the Financial Sector
4.3.4 QKD at Utilities and Critical Infrastructure
4.3.5 QKD in Other Private Enterprise
4 3.6 PQC + QKD
4.4 Some Notes on Market Forecasts in this Report
Chapter Five: Suppliers of QKD Solutions
5.1 QKD Industry Structure
5.2 QKD and the Major Hardware Vendors
5.2.1 Adtran/ADVA
5.2.2 Ciena (United States)
5.2.3 Cisco (United States)
5.2.4 HPE/Juniper Networks (United States)
5.2.5 A Note on Nokia (Finland)
5.3 QKD Companies
5.3.1 ArQit (United Kingdom)
5.3.2 evolutionQ (Canada)
5.3.3 HEQA (Israel)
5.3.4 ID Quantique (Switzerland)
5.3.5 KEEQuant (Germany)
5.3.6 KETS Quantum Security (United Kingdom)
5.3.7 LuxQuanta (Spain)
5.3.8 MagiQ Technologies (United States)
5.3.9 Nu Quantum (United Kingdom)
5.3.10 Qnu Labs (India)
5.3.11 Quantum Blockchains (Poland)
5.3.12 Quantum Industries (Austria)
5.3.13 QuantumCTek (China)
5.3.14 Qubitekk (United States)
5.3.15 QuintessenceLabs (Australia)
5.3.16 Sandbox (United States)
5.3.17 Terra Quantum (Switzerland)
5.3.18 Toshiba (Japan and UK)
5.3.19 VeriQloud (France)
5.4 Satellite QKD and Other Service Providers
5.4.1 AegiQ (United Kingdom)
5.4.2 CAS QuantumNet (China)
5.4.3 Craft Prospect (United Kingdom)
5.4.4 KT (South Korea)
5.4.5 levelQuantum (Italy)
5.4.6 QEYnet (Canada)
5.4.7 Quantum Xchange (United States)
5.4.8 SpeQtral Quantum Technologies (Singapore)
5.4.9 ThinkQuantum and Quantum Future (Italy)
5.5 Test and Measurement and Components Companies
5.5.1 Alter Technology (Spain/Germany)
5.5.2 Aurea Technology (France)
5.5.3 Fifteen Instrument (Singapore)
5.5.4 Keysight
5.5.5 Microsoft/Lumenisity
5.5.6 Pixel Photonics (Germany)
About the Analyst
List of Exhibits
Exhibit E-1: Six Factors Shaping the Worldwide QKD Sector
Exhibit E-2: Role of QKD by End-user Market
Exhibit 1-1: New Considerations for QKD Market Projections
Exhibit 2-1 QKD-Related Trends and Opportunities
Exhibit 2-2: DV-QKD vs. CV-QKD
Exhibit 2-3: Some Recent Examples of QKD Distance Achievements
Exhibit 3-1: NSA Perspectives and Counterviews
Exhibit 4-1: Six Factors Shaping the Worldwide QKD Sector
Exhibit 4-2: Notable Chinese Quantum Networking Achievements
Exhibit 4-3: Proposed Testbed Interconnection Approaches in OpenQKD
Exhibit 4-4: EU Technology Related QKD Projects
Exhibit 4-5: QKD End Users
Exhibit 4-6: Examples of Attacks on Critical Infrastructure
Exhibit 5-1: QKD Marketing Strategies
