Markets

Toshiba To Launch Quantum Cryptography Services By FY25; Targets $3 Bln Revenue In QKD By 2030

(RTTNews) - Japanese conglomerate Toshiba Corp. (TOSYY.PK, TOSBF.PK) said Monday that it plans to build a quantum key distribution or QKD network in Japan and other countries by fiscal year 2025 and launch a QKD service for organizations focusing on financial institutions.

The company aims to capture about 25% of the market or about$3 billion in fiscal year 2030 by providing the quantum cryptography services. The QKD market is expected to grow to about $20 billion worldwide in fiscal year 2035.

The company noted that it will start providing quantum key distribution platforms and commence deployment of a system integration business in the fourth quarter of 2020.

The company has developed a manufacturing base in Cambridge, UK, and will begin providing the platform products to specific users as early as the third quarter of fiscal year 2020.

In Japan, Toshiba Digital Solutions Corp. has received a contract from the National Institute of Information and Communications Technology to deploy and manage the QKD systems that will be installed at multiple locations on their network.

Toshiba plans to deliver the system in the fourth quarter of fiscal year 2020 and the deployment will start to roll out from April 2021.

In the US, Toshiba has participated in the recent QKD demonstration by Verizon in alliance with Quantum Xchange.

From fiscal year 2021, the company will collaborate with regional business partners in the UK and the US, as well as in Europe and Asia, to promote the QKD system integration businesses worldwide.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

    RTTNews

    Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

    Learn More