Toshiba targets $3 billion revenue in quantum cryptography by 2030

The logo of Toshiba Corp is seen behind cherry blossoms at the company’s headquarters in Tokyo, Japan April 11, 2017. REUTERS/Toru Hanai

TOKYO (Reuters) – Toshiba Corp said on Monday it aims to generate $3 billion in revenue from its advanced cryptographic technology for data protection by 2030, as the Japanese sprawling conglomerate scrambles to find future growth drivers.

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

Toshiba expects the global QKD market to grow to $12 billion in 10 years with the advance of quantum computers, whose massive computational power could easily decipher conventional math-based cryptographic keys commonly used in finance, defence and health care.

The company is hoping to tap global demand for advanced cryptographic technologies as cyber security has come to the forefront

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