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GDP News The World Bank cuts global GDP outlook for 2020 The World Bank has cut its global GDP growth forecast for 2020 due to the ongoing coronavirus pandemic. The World Bank now expects the global economy to contract by 5.2 percent this year, a downgrade from its April forecast of a 3 percent contraction. The World Bank said that the pandemic had caused “an unprecedented shock” to the global economy and “far-reaching economic, social, and political consequences.” The bank warned that the global economy could face a significant risk of a “protracted recession” if the pandemic is not contained. It also warned that the economic impact of the pandemic could have long-lasting effects on the wellbeing of individuals and societies. The World Bank also warned that the global economic recovery could be “sluggish” and “uneven” as countries struggle to contain the virus and address the economic fallout. It emphasized the importance of continued fiscal and monetary policy support to help countries and businesses weather the crisis. The World Bank also highlighted the need for an effective international response to the crisis, including an “ambitious” and “coordinated” global effort to

The Rise of Quantum Key Distribution Market: A $2.63 billion Industry Dominated by Tech Giants - Toshiba (Japan) and MagiQ Technologies (US)| MarketsandMarkets™ - ForexTV

Delray Beach, FL, Feb. 21, 2025 (GLOBE NEWSWIRE) -- The global Quantum Key Distribution Market size is projected to grow from USD 0.48 billion in 2024 to USD 2.63 billion by 2030 at a Compound Annual Growth Rate (CAGR) of 32.6% during the forecast period, according to a new report by MarketsandMarkets™. The demand for Quantum Key Distribution (QKD) is growing as organizations seek to strengthen data security. With cyberattacks becoming more advanced, companies and governments face significant challenges in protecting sensitive information. Additionally, there are increasing developments in the QKD space. For instance, TIM Group companies Sparkle and Telsy, along with QTI Quantum Telecommunications Italy, successfully performed a Proof of Concept (PoC) to secure a high-capacity link with QKD between two data centers in Athens, further driving the growth of the QKD market. Browse in-depth TOC on "Quantum Key Distribution Market" 515 - Tables 59 - Figures 342 - Pages Download Report Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=80654677 Quantum Key Distribution Market Dynamics: Drivers: Rise in ‘harvest now, decrypt later’ (HNDL) attacksIncrease in investments in R&D by prominent playersAdvancements in quantum communication infrastructureAdvancements in quantum computing Restraints: High implementation costsLack of standardization Opportunities: Expansion into 5G, IoT networks, and satellite-based quantum communicationRise in demand for data security List of Key Companies in Quantum Key Distribution Market: Toshiba (Japan)ID Quantique (Switzerland)QuintessenceLabs (Australia)MagiQ Technologies (US)QuantumCTek (China)LuxQuanta (Spain)Kloch (US)HEQA Security (Israel)QNu Labs (India)PacketLight Networks (Israel) Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=80654677 Trend: Advancements in Satellite-based QKD Satellite networks are saturating themselves with quantum technologies, aiming to carry out secure data transmission at long range. The drive behind this trend is a secure communication need across the globe's infrastructures, largely now spearheaded by projects like European Space Agency quantum initiatives. In India, for example, in January 2022, scientists from the Space Applications Centre (SAC) and the Physical Research Laboratory (PRL) demonstrated real-time Quantum Key Distribution (QKD) over a 300m terrestrial channel incorporating both quantum-secure text and image transmission and a quantum-assisted two-way video call between two buildings. By type, the long-distance QKD system segment accounts for the highest CAGR during the forecast period. The long-distance QKD system segment is projected to experience the highest Compound Annual Growth Rate (CAGR) during the forecast period. This growth is driven by the increasing need for secure communication across vast distances, particularly in sectors like defense, government, and telecommunications. As organizations seek to protect critical data transmissions over extended networks, advancements in satellite-based and fiber-optic QKD systems are gaining momentum, further propelling the demand for long-distance QKD solutions. Additionally, ongoing research and development efforts are enhancing the feasibility and scalability of these systems, contributing to their rapid adoption. Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=80654677 By vertical, the BFSI vertical accounts for a larger market share. The BFSI segment is expected to hold larger market share during the forecast period. This is led by the the sector’s critical need for enhanced data security. The BFSI industry is one of the most data-sensitive sectors, managing vast amounts of confidential information, including customer identities, financial transactions, and proprietary business data. With the rising frequency and sophistication of cyberattacks targeting financial institutions, there is an increasing demand for robust encryption methods to safeguard this valuable data. QKD's ability to provide theoretically unbreakable encryption by detecting eavesdropping in real time makes it an ideal solution for the BFSI sector. Financial institutions are adopting QKD to ensure secure communication and to prevent data breaches, fraud, and identity theft. Additionally, regulatory pressures related to data privacy, such as the General Data Protection Regulation (GDPR) in Europe and other global financial compliance standards, are encouraging the implementation of more advanced security measures like QKD. Opportunity: Securing 5G Networks with Quantum Key Distribution (QKD) One major opportunity in Quantum Key Distribution (QKD) lies in its application for securing 5G and beyond networks. As global 5G deployment accelerates, the need for stronger encryption mechanisms to protect massive volumes of data transmitted across these networks becomes critical. QKD offers an unbreakable key exchange, which can ensure secure communication in industries such as telecommunications, healthcare, and autonomous vehicles. The integration of QKD into 5G infrastructure could provide future-proof security against both current cyber threats and potential quantum computer attacks, opening new avenues for partnerships and technology investments. Get access to the latest updates on Quantum Key Distribution Companies and Quantum Key Distribution Industry CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets Inc. 1615 South Congress Ave. Suite 103, Delray Beach, FL 33445 USA : 1-888-600-6441 UK +44-800-368-9399 Email: sales@marketsandmarkets.com Visit Our Website: https://www.marketsandmarkets.com/