What is the current market size and future outlook for the quantum photonics market?
The quantum photonics market size has grown exponentially in recent years. It will grow from $0.59 billion in 2024 to $0.8 billion in 2025 at a compound annual growth rate (CAGR) of 37.3%. The growth in the historic period can be attributed to growing demand for secure communication technologies, growing applications in medical imaging and diagnostics, growing demand for quantum-enhanced imaging systems, potential for quantum supremacy, and growing investment in quantum photonics.
The quantum photonics market size is expected to see exponential growth in the next few years. It will grow to $2.83 billion in 2029 at a compound annual growth rate (CAGR) of 37.0%. The growth in the forecast period can be attributed to increasing focus on quantum communication networks, advancements in quantum cryptography, demand for ultra-secure communication, rising adoption of quantum technology, and growing demand for high-performance computing. Major trends in the forecast period include advancements in quantum communications, advancements in quantum technologies, growing investments, and research and development efforts in quantum photonics.
Get Your Free Sample of The Global Quantum Photonics Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16169&type=smp
What are the key forces behind the quantum photonics market’s growth in recent years?
The growing applications in medical imaging and diagnostics are expected to propel the growth of the quantum photonics market going forward. Medical imaging and diagnostics refer to the techniques and processes used to create images of the human body for diagnostic and treatment purposes. The increasing demand for early disease detection and precise treatment planning is leading to growing applications in medical imaging and diagnostics. Quantum photonics enhances medical imaging and diagnostics by providing higher-resolution imaging, increased sensitivity for detecting biomarkers, and the development of advanced imaging modalities, ultimately improving diagnostic accuracy and patient outcomes. For instance, in December 2022, the National Health Service (NHS), a UK-based government department, conducted a total of 44 million imaging tests in the year leading up to March 2022. This marked a significant increase from the 34.9 million tests performed in the previous year, representing a 26% rise. Therefore, the growing applications in medical imaging and diagnostics are driving the growth of the quantum photonics market.
What are the major segments of the quantum photonics market?
The quantum photonics market covered in this report is segmented –
1) By Component: Systems, Services
2) By Application: Quantum Communication, Quantum Sensing And Metrology, Quantum Computing
3) By End-Use: Space Research, Government And Defense, Telecommunication, Healthcare And Pharmaceutical, Transportation And Logistics, Environment
Subsegments:
1) By Systems: Quantum Light Sources (Single-Photon Sources, Entangled Photon Sources), Quantum Photodetectors, Quantum Communication Systems (Quantum Key Distribution Systems), Quantum Imaging Systems, Quantum Sensors (For Metrology, Navigation), Integrated Quantum Photonics Systems, Photonic Quantum Processors
2) By Services: Quantum Photonics Consulting Services, Quantum Photonics System Integration, Quantum Research And Development Services, Quantum Network Design And Optimization Services, Testing And Calibration Services For Quantum Photonics
Order your report now for swift delivery
https://www.thebusinessresearchcompany.com/report/quantum-photonics-global-market-report
Which companies dominate the quantum photonics market?
Major companies operating in the quantum photonics market are Nippon Telegraph and Telephone Corporation, International Business Machines Corp., Toshiba Corporation, NEC Corporation, Thorlabs Inc., PsiQuantum Corp., ColdQuanta Inc., Xanadu, Aosense Inc., ID Quantique, ORCA Computing Limited, M Squared Lasers Limited, Q-CTRL, Nu Quantum, QuintessenceLabs Pty Ltd., Quandela, MagiQ Technologies Inc., Menlo Systems, Qubitekk Inc., QuiX Quantum Holding BV, Quside Technologies, TundraSystems Global LTD., Crypta Labs Limited, Quantum Xchange Inc., Qnami, Quantopticon Ltd.
What major trends will shape the quantum photonics market during the forecast period?
Major companies operating in the quantum photonics market are developing quantum computing marvels to revolutionize computational capabilities. Quantum Computing Marvels refers to the groundbreaking advancements and remarkable capabilities emerging from the field of quantum computing. For instance, in June 2022, Xanadu, a Canada-based quantum computing company, launched Borealis, an innovative quantum computing marvel, available to the public via cloud access. Boasting 216 squeezed-state qubits, Borealis is the first photonic quantum computer offering full programmability of all its gates to demonstrate quantum computational advantage.
What are the key regional dynamics of the quantum photonics market, and which region leads in market share?
North America was the largest region in the quantum photonics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the quantum photonics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Quantum Photonics Market Report 2025 Offer?
The quantum photonics market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Quantum photonics refers to the field of study and application that combines quantum mechanics with photonics, the science and technology of generating, manipulating, and detecting photons, the fundamental particles of light. Photons encode, process, and transmit quantum information in quantum photonics.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=16169
About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
