Global Quantum Photonics Market is valued approximately at USD 0.3 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 33.2% over the forecast period 2023-2030. Quantum Photonics refers to the study and application of quantum phenomena involving light particles, known as photons, within the field of quantum information science and technology. Quantum photonics leverages the principles of quantum mechanics to manipulate and control individual photons for the purpose of quantum computation, communication, and sensing. The Quantum Photonics market is expanding because of factors such as rising adoption of quantum technology and growing demand for high-performance computing. As a result, the demand of Quantum Photonics has progressively increased in the international market during the forecast period 2023-2030.
Quantum photonics is a fundamental component in quantum computing systems, which leverage the principles of quantum mechanics to perform complex computations. As the demand for more powerful and scalable quantum computers increases, so does the need for advanced quantum photonics devices that can manipulate and control quantum bits. According to Statista, the markets for quantum computing is projected to be the major contributor to the market for quantum technologies, and is projected to reach up to USD 93 billion by 2040. Another important factor driving the Quantum Photonics market is increasing demand for high-performance computing. High-performance computing is essential for solving complex problems that classical computers struggle with. Quantum computers, relying on quantum photonics, have the potential to outperform classical computers in solving certain types of complex problems, such as optimization, simulation, and cryptography. The demand for more powerful computing solutions drives the interest and investment in quantum photonics technologies. In addition, as per Statista, the high-performance computing (HPC) market accounts USD 35 billion in 2023 and revenues are expected to reach USD 40 billion by the year 2026. Moreover, advancements in quantum communications and growing R&D and investments in quantum photonics computing is anticipated to create a lucrative growth opportunity for the market over the forecast period. However, lack of standardization in quantum photonics and regulatory challenges is going to impede overall market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Quantum Photonics Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the development of quantum computers and associated technologies in the region. Quantum photonics plays a crucial role in the development of quantum gates and circuits, which are the building blocks of quantum processors. The precise control and manipulation of quantum states in photons are essential for the implementation of quantum algorithms and computations. The region's dominant performance is anticipated to propel the overall demand of Quantum Photonics. Furthermore, Asia Pacific is expected to grow at the fastest growth rate during the forecast period, owing to factors such as strong industrial base, which specializes in semiconductor production and telecommunications in the region. Telecommunications heavily rely on high-frequency electronics, and a strong industrial base in this sector brings expertise in dealing with signals at the quantum level. This experience is valuable for developing quantum communication devices and incorporating quantum technologies into existing telecommunications infrastructure.
Major market player included in this report are:
Quix Quantum B.V.
ID Quantique SA
PsiQuantum Technologies, Inc
Toshiba Corporation
Xanadu Inc
MagiQ Technologies, Inc
Quandela Inc
Tundra Systems Global Ltd
ORCA Computing Limited
International Business Machines Corporation
Recent Developments in the Market:
Recent development - NA
Global Quantum Photonics Market Report Scope:
Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Offering, Application, Verticals, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Offering
Systems
Services
By Application
Quantum Computing
Quantum Sensing and Metrology
Quantum Communication
By Verticals
Banking and Finance
Space and Defense
Healthcare
Transportation and Logistics
Government
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
