Toshiba targets $3 billion revenue in quantum cryptography by 2030

Platform news: Toshiba Corp

Toshiba has stated that it intends to generate $3 billion in revenue from its innovative cryptographic technology for information protection from 2030, as the Japanese sprawling conglomerate scrambles to find future growth drivers.

The cyber security technologies, called quantum key distribution (QKD), leverages the nature of quantum physics to provide two distant parties with cryptographic keys that are immune to cyberattacks driven by quantum computers.

Toshiba expects the global QKD marketplace to grow to $12 billion in 10 years with the progress of quantum computers, whose enormous computational power may easily decode conventional math-based cryptographic keys widely utilized in finance, defence and health care.

The business is hoping to tap global demand for innovative cryptographic technology as cyber protection has come to the forefront of national defence. China is aggressively expanding network infrastructure for QKD, such as quantum satellites that relay quantum signs.

The company said it has teamed up with Verizon Communications in the US and BT Group in the UK in pilot QKD jobs, and is in talks with another telecommunications company in South Korea.

Since a crisis coming from the insolvency of the US nuclear power industry in 2017, Toshiba has conducted a set of restructuring steps, including the selling of its notebook and television set companies.

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It is now focusing on people infrastructure companies which are resilient to a worldwide economic slump driven by the coronavirus outbreak.

The team at Platform Executive hope you have enjoyed the ‘Toshiba targets $3 billion revenue in quantum cryptography by 2030‘ article. Initial reporting via our official content partners at Thomson Reuters. Reporting by Makiko Yamazaki. Editing by Sherry Jacob-Phillips.

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