Quantum Photonics Market by Component, Application, End-User

List of Tables

[199 Pages Report] The Quantum Photonics Market size was estimated at USD 1.79 billion in 2023 and expected to reach USD 1.98 billion in 2024, at a CAGR 10.82% to reach USD 3.68 billion by 2030.

Quantum Photonics is an interdisciplinary field that combines principles of quantum mechanics and photonics to explore and manipulate the fundamental properties of light-matter interactions at the quantum level. It aims to harness the unique characteristics of quantum states, such as superposition, entanglement, and nonlocality, for applications in secure communication, sensing, and computing. Quantum Photonics encompasses a wide range of research areas, including single-photon sources and detectors, quantum optics, photonic integrated circuits, and nonlinear optical processes. In recent years, there has been significant progress in generating single photons on demand using various techniques such as spontaneous parametric down-conversion (SPDC), quantum dot-based emitters, color centers in diamonds (like NV centers), or trapped atoms. Over the years, several factors have been driving the growth of the global quantum photonics market. These include increasing demand for secure data communication owing to rising cybersecurity threats, significant advancements in nanotechnology and materials science enabling the development of compact and efficient photonic devices, and government initiatives supporting research activities in quantum technologies. Despite the positive factors presented by this emerging field, the requirement of high initial investment and technical challenges, such as maintaining coherence time in qubits for practical implementation and integration complexities when combining traditional photonics with quantum elements, have been limiting the market scope. Apart from these challenges, market players are presenting promising avenues for innovation, which involve developing fault-tolerant architectures to improve the robustness of quantum systems, novel materials, and fabrication techniques to enhance device performance, which is expected to create lucrative opportunities for the global quantum photonics market.

KEY MARKET STATISTICS
Base Year [2023]	USD 1.79 billion
Estimated Year [2024]	USD 1.98 billion
Forecast Year [2030]	USD 3.68 billion
CAGR (%)	10.82%

Regional Insights

In the Americas region, particularly North America, there has been substantial investment in research and development (R&D) of quantum photonic devices. The United States Department of Energy (DOE) made massive investments over the years to establish Quantum Information Science Research Centers focused on emerging technologies such as quantum networking and computing. Such initiatives are expected to propel the demand for quantum photonic components in data center connectivity solutions and optical communication systems. Europe is another region witnessing significant advancements in quantum photonics owing to increased government funding and private-sector collaborations, further fostering development of cutting-edge quantum technology applications such as secure communication systems and ultra-sensitive sensors. Moreover, ongoing research activities in academic institutions across the region have created a stronger landscape for the EMEA's quantum photonics market. Asia-Pacific is poised to become one of the fastest-growing regions for the quantum photonics market, with countries including China, Japan, and South Korea leading the way. The Chinese government has significantly increased investments in developing quantum communication networks, which is expected to create a surge in demand for quantum photonic components over the next few years. In addition, several regional private organizations have established their own research institutes focused on advancing quantum technologies, which are expected to foster research and development of these cutting-edge technologies.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Quantum Photonics Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Rising demand for secure communication across industries
- Surging investments by governments in quantum technologies

Market Restraints
- High cost of development of quantum photonics

Market Opportunities
- Technological advancements in the development of quantum photonics
- Collaboration and partnership activities between market vendors to advance quantum photonics

Market Challenges
- Security and privacy concerns with quantum photonics

Market Segmentation Analysis
- Component: Continuous support and maintenance from industry experts optimizes technology integration
- Application: Significant adoption of quantum computing in outpacing classical computing capabilities
- End-User: Enabling breakthroughs that address industry-specific needs while offering competitive advantages to early adopters

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Quantum Photonics Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Quantum Photonics Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Quantifi Photonics Unveils QCA Series as Innovative Leap in High-Speed Communication Testing

Quantifi photonics is set to revolutionize the photonics test and measurement landscape with the launch of the QCA series high-speed communication analyzer. This state-of-the-art digital sampling oscilloscope is uniquely designed to offer a cost-effective solution for high-volume production challenges in next-generation interconnect manufacturing. Boasting ultra-low jitter and unparalleled instrument density, the QCA Series excels in executing high-precision, parallel measurements, significantly enhancing test throughput and reducing test costs for high-volume applications. [Published On: 2024-01-31]

Infleqtion Strengthens Quantum Capabilities with Strategic Acquisitions of Silicon Photonics Key Companies

Infleqtion, the premier entity in the quantum information sector, has strategically enhanced its market position and accelerated its progress towards the commercialization of quantum technologies through the acquisition of SiNoptiq Inc. and Morton Photonics Inc. By bolstering the quantum supply chain and enabling large-scale quantum manufacturing, Infleqtion aims to overcome historical barriers such as a limited supplier base and the absence of commercial manufacturing capabilities, predominantly in the U.S. [Published On: 2024-01-29]

PhotonVentures Raises EUR 60 Million to Supercharge Europe's Photonics Startups

PhotonVentures Fund has announced the launch of a new venture capital fund that focuses on supporting early-stage photonic chip startups and scale-ups in the field of quantum photonics. In its first financing round, the fund successfully raised EUR 60 million, with plans to secure a total of EUR 100 to EUR 150 million by 2024. The primary objective of the fund is to invest in 15 European deep-tech companies that have developed minimum viable products (MVPs) based on integrated photonics and are connected to the European ecosystem. [Published On: 2023-08-31]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Quantum Photonics Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Quantum Photonics Market, highlighting leading vendors and their innovative profiles. These include AOSense,Inc., Crypta Labs Limited, ID Quantique SA, M Squared Group, MagiQ Technologies, Inc. by Springbrook Software, Menlo Systems GmbH, NEC Corporation, Nordic Quantum Computing Group AS, NTT Group, Nu Quantum Ltd., ORCA Computing Limited, PsiQuantum, Corp., Quandela, Quantifi Photonics, Quantum Computing Inc., Quantum Dice, Quantum Xchange, Inc., Qubitekk, Inc., QuintessenceLabs Pty Ltd., Quix Quantum BV, QUSIDE TECHNOLOGIES S.L., Thorlabs, Inc., Toshiba Corporation, TundraSystems Global LTD., and Xanadu Quantum Technologies Inc..

Market Segmentation & Coverage

This research report categorizes the Quantum Photonics Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Services
- System

Application
- Quantum Communication
- Quantum Computing
- Quantum Sensing & Metrology

End-User
- Agriculture
- Banking & Finance
- Defense
- Healthcare & Pharmaceuticals
- Transportation & Logistics

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-CF6C60CF95B7

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising demand for secure communication across industries
  - 5.1.1.2. Surging investments by governments in quantum technologies
- 5.1.2. Restraints
  - 5.1.2.1. High cost of development of quantum photonics
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements in the development of quantum photonics
  - 5.1.3.2. Collaboration and partnership activities between market vendors to advance quantum photonics
- 5.1.4. Challenges
  - 5.1.4.1. Security and privacy concerns with quantum photonics
5.2. Market Segmentation Analysis
- 5.2.1. Component: Continuous support and maintenance from industry experts optimizes technology integration
- 5.2.2. Application: Significant adoption of quantum computing in outpacing classical computing capabilities
- 5.2.3. End-User: Enabling breakthroughs that address industry-specific needs while offering competitive advantages to early adopters
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Quantum Photonics Market, by Component

6.1. Introduction
6.2. Services
6.3. System

7. Quantum Photonics Market, by Application

7.1. Introduction
7.2. Quantum Communication
7.3. Quantum Computing
7.4. Quantum Sensing & Metrology

8. Quantum Photonics Market, by End-User

8.1. Introduction
8.2. Agriculture
8.3. Banking & Finance
8.4. Defense
8.5. Healthcare & Pharmaceuticals
8.6. Transportation & Logistics

9. Americas Quantum Photonics Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Quantum Photonics Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Quantum Photonics Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Quantifi Photonics Unveils QCA Series as Innovative Leap in High-Speed Communication Testing
- 12.3.2. Infleqtion Strengthens Quantum Capabilities with Strategic Acquisitions of Silicon Photonics Key Companies
- 12.3.3. PhotonVentures Raises EUR 60 Million to Supercharge Europe's Photonics Startups
- 12.3.4. Q.ANT Partners with PlanQK to Advance Photonic Quantum Technology
- 12.3.5. Quantum Computing Inc. Launches the First Quantum Photonic Vibrometer
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio