IoT and Quantum Computing are technological phenomena that are shaping businesses and industries. Moreover, integrating IoT and Quantum Computing solutions evolve ecosystems to offer optimum commercial practices. The emergence of these two phenomena offers revolutionary advancements.
Further, Quantum Computing introduces avant-garde encryption algorithms for resilient security solutions in IoT systems.
Therefore, MarketsandMarkets states, “The global IoT Security Market size to grow from USD 14.9 billion in 2021 to USD 40.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 22.1% during the forecast period.” The report further states, “ IoT security comprises various smart solutions, such as device authentication and management, secure connections, and data loss prevention. These solutions, integrated with IoT devices, provide real-time protection from threats. Connected devices can give businesses a real boost, but anything that is connected to the internet can be vulnerable to cyber-attacks.”
According to Maurizio Di Paolo Emilio, a Ph.D. in Physics and a Telecommunication Engineer, “With the advent of quantum computers, modern encryption algorithms are undergoing an evolution that will significantly change their current use.”
Therefore, a prime prospect to secure IoT devices, components, and networks is Quantum Computing. Although amalgamating the two technologies is not, its practical applications now appear more likely.
What is Quantum Computing?
According to IBM’s definition, “Quantum computing is a rapidly-emerging technology that harnesses the laws of quantum mechanics to solve problems too complex for classical computers. ”
That is to say, quantum computing is a computational model that leverages the capabilities of Quantum Mechanics. Moreover, quantum states like superposition, interference and entanglement play a pivotal role in computing. It also introduces innovative theories to classical computing systems.
Further, the “quantum” in Quantum Computing describes the use of quantum mechanics to derive results. In physics, the term “quantum” also refers to the smallest possible unit of a physical object. It also contains references from atomic and subatomic particles like electrons, neutrons, and protons.
According to a study by Fortune Business Insights, “The quantum computing market is projected to grow from $486.1 million in 2021 to $3,180.9 million in 2028 at a CAGR of 30.8% in the forecast period, 2021-2028.”