Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Quantum Photonics Market Size Expected to Grow from USD 0.31 Billion in 2023 to USD 4.48 Billion by 2033, at a CAGR of 30.61% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Quantum Photonics Market Size, Share, and COVID-19 Impact Analysis, By Offering (Systems and Services), By Application (Quantum Communications, Quantum Computing, and Quantum Sensing & Metrology), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
The sector devoted to the creation and deployment of technologies that alter and control light at the quantum level using quantum optics is known as the quantum photonics market. The advancements in quantum technologies, including computation, communication, and sensing, are driving the field of quantum photonics. Because of these developments, there is a greater need for photonics-based parts and systems that can control individual photons. There will likely be a large increase in demand for photon-based quantum systems and applications across a range of sectors and research domains as quantum technologies develop further. Quantum technologies and quantum photonics are developing together in a positive feedback loop that speeds up the creation and uptake of quantum-based solutions in the quantum photonics sector. Moreover, the market for quantum photonics is expanding due in large part to the rising demand for secure communication. The need for quantum communication systems based on quantum photonics is growing as a result of the increased need for secure communication across a range of businesses, including governments, banks, and various commercial sectors to safeguard their sensitive data from sophisticated cyber threats. However, the market's expansion is hampered by its high cost because quantum photonics typically calls for highly accurate and complex equipment, cutting-edge materials, and specialized knowledge—all of which raise the cost of implementation and production.
The systems segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on offering, the global quantum photonics market is categorized as systems and services. Among these, the systems segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. Advanced hardware technology and increased demand across sectors have contributed to this segment's rapid growth. Due to the introduction of high-performance quantum photonics hardware by companies like Xanadu (Canada) and Quandela (France), the technology is now accessible and advantageous for a range of applications, including optimization, machine learning, and cryptography.
The quantum communications segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the application, the global quantum photonics market is categorized as quantum communications, quantum computing, and quantum sensing & metrology. Among these, the quantum communications segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. Photons are used in quantum communications to transport information between quantum devices, including sensors or quantum computers. To offer strong security against hacking or eavesdropping, it makes use of quantum random number generation and quantum key distribution (QKD).
North America is projected to hold the largest share of the global quantum photonics market over the forecast period.
North America is projected to hold the largest share of the global quantum photonics market over the forecast period. The development and commercialization of quantum photonics computing technology are significantly influenced by North America. Innovation in the subject is fueled by the presence of several top universities, research centers, and quantum computing enterprises in the area. Companies in North America that serve this market include PsiQuantum (US), AOsense (US), Quantum Xchange (US), and Xanadu (Canada). One of the main ways North America contributes to the quantum photonics industry is through the development of quantum computers and related technologies.
Asia-Pacifi is expected to grow at the fastest CAGR growth of the global quantum photonics market during the forecast period. China has made significant strides in creating quantum communication infrastructure, including satellite and ground-based quantum networks, and is setting the standard for practical quantum applications. Japan promotes widespread collaboration in quantum photonics research between the public and private sectors, which leads to teamwork and rapid progress in the area.
Company Profiling
Major vendors in the global quantum photonics market are Crypta Labs, ID Quantique, M Squared, Menlo Systems, Microchip Technology, NEC Corporation, Nordic Quantum Computing Group (NQCG), NTT Technologies, Nu Quantum, Orca Computing, Psi Quantum, Quandela, Quantum Dice, and Others.
Key Target Audience
Key Market Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global quantum photonics market based on the below-mentioned segments:
Global Quantum Photonics Market, By Offering
Global Quantum Photonics Market, By Application
Global Quantum Photonics Market, By Regional
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