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Quantum Networking Market worth $5,382.0 million by 2029 – Exclusive Report by MarketsandMarkets™

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DELRAY BEACH, Fla., Sept. 5, 2024 /PRNewswire/ — The quantum networking market is projected to grow from USD 861.8 million in 2024 and is estimated to reach USD 5,382.0 million by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 44.2% from 2024 to 2029 according to a new report by MarketsandMarkets™. The growth of the quantum networking market is driven by the growing focus on developing quantum networking solutions that can work alongside current classical networks, Increasing collaborations between tech companies, telecom operators, and research institutions to advance quantum networking technologies, growing interest in combining quantum sensing with quantum networks for applications like improved GPS and environmental monitoring, Improvements in quantum memory technologies are crucial for creating quantum repeaters, a key component of long-distance quantum networks, and exponential rise in data generation from various sources driving demand for quantum networking.

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Browse in-depth TOC on “Quantum Networking Market” 
100 – Tables
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Quantum Networking Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 861.8 million

Estimated Value by 2029

$ 5,382.0 million

Growth Rate

Poised to grow at a CAGR of 44.2%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Offering, End-user Industry, Application, and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Vulnerabilities to interference, decoherence, and signal loss

Key Market Opportunities

Increasing need for quantum networking technologies for secure financial transactions

Key Market Drivers

Growing demand for quantum-secure communication solutions to mitigate cyber-attacks

By Offering, Quantum Random Number Generator (QRNG) is projected to grow at a high CAGR of quantum networking market during the forecast period.

Quantum Random Number Generator (QRNG) is projected to growth at a high CAGR in the forecasted years. QRNG is a highly sophisticated engineering innovation that involves the power of complex deep-tech technologies (such as semiconductors. optoelectronics, high-precision electronics, and quantum physics) working together to create the highest level of randomness possible. These devices use the principles of quantum mechanics to generate random numbers that can truly be considered unpredictable. Most of these devices work on quantum effects-photon behavior, quantum noise, or atomic decay-to guarantee that none of the numbers generated show any kind of deterministic pattern or bias. QRNGs generate random numbers at very high speeds, normally above megabits per second, and are an important constituent in high-quality randomness applications. Their ability to ensure unmatched randomness and security makes them crucial for enhancing encryption and protecting data, fueling their demand in the quantum networking market.

Healthcare & Life Sciences in end-user industry segment in quantum networking industry will account for the high CAGR by 2029

Healthcare & Life Sciences segment will account for the high CAGR in the forecasted period. Quantum cryptography is increasingly being applied in the healthcare sector in securing sensitive information from patients, since it is perceived to offer a higher security level compared to traditional methods of encryption. Cybersecurity has been a major challenge facing most of the healthcare organizations moving from the paper-based records to digitized ones, with an ever-increasing threat of quantum computers breaking the current encryption protocols. Quantum networking provides quantum- safe encryption, securing devices for data confidentiality and integrity in medical records, financial transactions, and other very sensitive information. The technology protects sensitive information but helps the healthcare industry with compliance requirements under regulations like HIPAA, enabling further diffusion in the sector.  As healthcare organizations transitions into digital records, the demand for QRNGs to ensure data confidentiality will increase, fueling growth in the quantum networking market.

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North America will account for the highest CAGR during the forecast period.

In North America, MIT, Caltech, and the University of Chicago are among the top institutions globally in quantum research. Of course, breakthroughs in quantum networking research must involve these frontline institutions. For instance, the University of Chicago’s Chicago Quantum Exchange is the center for advancing quantum technology by building a community of universities, national laboratories, and industry partners in the advancement of quantum technology. It is this concentration in competence and research capability that allows for rapid innovation and development in quantum networking, which is foreseen to yield a continuing pipeline of new technologies and applications. This growth will be underpinned by increased demand for secure channels of communications, advanced computational capabilities, and versatile applications in many industries related to finance, healthcare, and national security.

Key Players

Key companies operating in the quantum networking companies are TOSHIBA CORPORATION (Japan), Terra Quantum (Switzerland), Quantumctek Co.,Ltd. (China), ID Quantique (Switzerland), HEQA Security (Israel), QuintessenceLabs (Australia), MagiQ Technologies (US), Crypta Labs Limited (UK), Quantum Xchange (US), Qunnect Inc. (US) among others.

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

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High-performance Computing (HPC) Market by Component, Computation Type (Parallel Computing, Distributed computing and Exascale Computing), Industry, Deployment, Server Price Band, Verticals & Region – 2027

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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HR Path Strengthens its Australian Presence with Strategic Acquisition of Payroll Experts Australia

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PARIS, Oct. 21, 2026 /PRNewswire/ — HR Path, a global leader in HR consulting and HRIS solutions, today announces its strategic acquisition of Payroll Experts Australia, a Brisbane-based company specialising in payroll compliance, remediation, workforce management and HR systems consulting.

Founded in 2009, Payroll Experts Australia has delivered more than 530 projects for over 260 organisations across Australia and New Zealand. Independent of any software vendor, the company supports employers across the full payroll, workforce management and HR systems lifecycle, with expertise spanning payroll compliance and audit, remediation, award and agreement interpretation, payroll processing, advisory and end-to-end systems implementation.

The acquisition strengthens HR Path’s ability to provide end-to-end HR transformation services across the ANZ market. Payroll Experts Australia’s specialist capabilities complement HR Path’s existing HRIS technology and SAP SuccessFactors expertise, enabling the combined organisation to support clients with a broader range of locally grounded services, from strategic advisory and systems implementation to payroll compliance and operational support. 

Payroll Experts Australia will continue to operate under the brand “Payroll Experts Australia, an HR Path Company”. Its leadership team and employees will remain in their current roles, ensuring continuity of service for clients while giving the business access to HR Path’s international capabilities and resources. 

The transaction builds on HR Path’s expansion in the region. HR Path has been active in Australia since 2019, following the acquisition of DDG. It opened an Australian office in 2024 and acquired RKM Consulting in 2025, strengthening its HRIS technology and SAP SuccessFactors capabilities across Australia and New Zealand.  

“The acquisition of Payroll Experts Australia, a company renowned for its expertise in payroll compliance, is a strategic move that supports our ambition to be the global reference in HR transformation,” said François Boulet, Co-founding Partner at HR Path. “Their deep knowledge and strong client relationships in Australia complement our global capabilities, enabling us to deliver even more value to our clients. This partnership is about synergy, innovation, and shared commitment to excellence.”

“We are very happy about this new chapter!” said Steve Keenaghan, Chief Executive Officer at Payroll Experts Australia. “This step opens up exciting opportunities for our team and our clients and ensures our continued growth and success. We will maintain our commitment to delivering exceptional, independent payroll expertise while exploring new possibilities within HR Path.”

Contact:

Fabienne LATOUR  Fabienne.latour@hr-path.com

 

 

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Sungrow Powers Up for All Energy Australia 2026 With New Residential Innovation and Full Ecosystem Showcase

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MELBOURNE, Australia, Oct. 21, 2026 /PRNewswire/ — Sungrow, the global leader in PV inverter and energy storage solutions, is set to make a strong return to All Energy Australia 2026, the region’s largest and most influential renewable energy exhibition. It will introduce its next-generation all-in-one residential flagship PowerHarbour, alongside a comprehensive showcase of technologies for residential, C&I, and utility-scale applications.

As Australia accelerates toward a cleaner, more resilient energy future, Sungrow’s presence at All Energy will once again serve as a central meeting point for industry leaders, installers, innovators, and policymakers. The booth will offer visitors a rich blend of product demonstrations, technical insights, interactive experiences, and opportunities to connect with Sungrow’s local engineering and sales teams.

A New Addition to Residential Energy Storage

At the upcoming All-Energy 2026, Sungrow will officially unveil PowerHarbour in Australia for the first time. It is a residential all in one solution designed to simplify energy independence for homeowners. It combines sleek design, intelligent integration, advanced safety features and a modular design that can deliver up to 120kWh of capacity. The enhanced AFCI 3.0 protection makes it one of the most flexible and homeowner‑friendly systems on the market. The result is a clean, integrated solution that empowers households to take control of their energy with confidence and ease.

C&I Solutions for Diverse Applications

The exhibition will also showcase Sungrow’s C&I portfolio, including PowerKeeper, deployed across diverse Australian environments, and the ST255CS liquid-cooled BESS cabinet, designed for applications such as microgrid stability and FCAS. Together, these solutions demonstrate Sungrow’s capabilities in delivering flexible, reliable energy storage for a wide range of commercial and industrial needs.

Utility-Scale Innovation on Display

For utility developers and EPCs, Sungrow will present a full-size PowerTitan 3.0, giving visitors a rare opportunity to see the battery container up close. Together, PowerTitan 3.0 and 1+X modular inverter demonstrate advanced energy storage, grid-forming capabilities, and flexible deployment for complex project environment. Backed by dedicated local project management, comprehensive technical support, and a growing project pipeline across Australia and New Zealand.

Visit Sungrow at Booth KK123

Sungrow invites all attendees to visit Booth KK123 at All Energy Australia 2026 to experience its latest residential, commercial, and utility‑scale innovations firsthand. Attendees can expect a vibrant and engaging atmosphere throughout the day featuring lucky draws with exciting prizes, free premium coffee, photobooth and insightful presentations. The booth promises a full day of discovery, connection, and inspiration. Sungrow looks forward to welcoming partners, customers, and renewable energy enthusiasts as we continue powering Australia’s clean energy future together.

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SOURCE Sungrow

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AglaiaSense and Leopard Imaging to Demonstrate Privacy-First AI Traffic Sensing at Smart City Expo World Congress in Barcelona

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FREMONT, Calif. and BARCELONA, Spain, Oct. 21, 2026 /PRNewswire/ — AglaiaSense and Leopard Imaging will exhibit together at Smart City Expo World Congress, November 3–5, 2026, at Fira Barcelona Gran Vía.

The two companies proposed AI-VIVA (Vision Intelligence for València and Arterials) and is selected as a finalist in the fifth urban challenge of Barcelona Innova Lab Mobility (BILM), on the application of artificial intelligence to traffic-light regulation. AI-VIVA combines AglaiaSense’s edge-AI traffic solutions with Leopard Imaging’s patented privacy architecture. At the show, the team will give a live demonstration of AglaiaSense’s signature MS500 and GS500 cameras, with the AglaiaSense AI Box, powered by NVIDIA, which adds local processing to coordinate groups of neighboring intersections.

The cameras analyze images inside the device, using the Sony IMX500 and IMX501 intelligent vision sensors. They count and classify vehicles, buses, cyclists and pedestrians in real time. Raw video is discarded on the device within 400–800 milliseconds, and only anonymous metadata is transmitted. Cities can feed that data into signal-control software to adapt traffic lights to real demand.

MS500: about 2 W average power, 1080p, powered from a standard NEMA or ZHAGA street-light socket.

GS500: about 6.5 W average, dual 4K cameras, with Ethernet, LTE Cat 4 and GPS; powered by PoE, 12–24 V DC or a NEMA adapter.

Both cameras: IP66-rated, −20 °C to +65 °C, mounted on existing poles, so no trenching or new masts are needed.

Bandwidth: more than 95% lower than CCTV-based monitoring.

“Cities want safer, smoother streets without turning every crossing into a surveillance point,” said Leon Luo, CEO of AglaiaSense. “Being named a finalist in Barcelona tells us the approach resonates.”

“Privacy has to be built into the camera, not added later,” said Bill Pu, CEO of Leopard Imaging.

AglaiaSense’s solutions are deployed across North America and Asia, and the company won first place in the Pedestrian Safety Challenge Hackathon, run by the Edge AI Foundation (formerly the tinyML Foundation) and the City of San José. In field tests, the systems achieved detection and counting accuracy above 95%. The City of Lakewood, Colorado, compared the GS500 with traditional IP cameras and LiDAR on real roads and found it more accurate, more energy-efficient, and less costly to deploy. At a high-risk crossing where pedestrians often crossed outside the crosswalk, the system alerted approaching drivers in real time.

Visit us at Pavilion 3, Level 0, Street D, Stand 71. To book a meeting, email sales@aglaiasense.com.

About AglaiaSense

AglaiaSense, is an edge-AI company specializing in privacy-first, vision-based sensing for smart cities. Its GS500 and MS500 cameras run AI on the image sensor to count and classify road users in real time and send only anonymous metadata.

About Leopard Imaging

Leopard Imaging is a global leader in high-definition embedded cameras and AI-based imaging solutions in industries including automotive, aerospace, drones, IoT, and robotics.

Media contact:

Cathy Zhao

+1 (408) 263-0988

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