Toshiba said on Monday it aims to generate $3 billion (about Rs 22,011 crore) in revenue from its advanced cryptographic technology for data security by 2030, as the Japanese giant scrambles to find future growth drivers.
A cyber security technique called quantum key distribution (QKD), takes advantage of the nature of quantum physics to provide cryptographic keys to two remote parties who are immune to cyberattacks operated by quantum computers.
Toshiba expects the global QKD market to grow to $12 billion (approximately Rs 880,48 crore) in 10 years with the advancement of quantum computers, whose enormous computational power can easily decipher traditional math-based cryptographic keys that are commonly used. Finance, defense and health care.
The company hopes to tap into the global demand for advanced cryptographic technologies as cyber security has come to the forefront of national defense. China is aggressively expanding the network infrastructure for QKD, which includes quantum satellites that relay quantum signals.
The company said it has worked in pilot QKD projects with Verizon in the United States and BT in the UK, and is in talks with another telecom carrier in South Korea.
Since the crisis stemming from the bankruptcy of the US nuclear power business in 2017, Toshiba has taken several restructuring steps, including the sale of its laptop and television set businesses.
It is now focusing on public infrastructure businesses that are resilient to the global economic slowdown induced by the coronavirus outbreak.
© Thomson Reuters 2020
Are iPhone 12 Mini, HomePod Mini Perfect Apple Devices for India? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, google podcastseither RSSDownload the episode, or just hit the play button below.