Quantum photonics involves the scientific investigation and management of light particles, which are referred to as photons, on the quantum scale, where their conduct is controlled by the principles of quantum mechanics. This field focuses on comprehending and exploiting the distinct quantum attributes of photons in order to accomplish a diverse array of practical uses. These uses involve applications in quantum communication, cryptography, computation, and sensing.
Allied Market Research published a report, titled, “Quantum Photonics Market by Offering (Systems, Services), By Application (Quantum Communication, Quantum Computing, Quantum Sensing and Metrology), By Verticals (Banking and Finance, Space and Defense, Healthcare, Transportation and Logistics, Government, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global quantum photonics market was valued at $0.3 billion in 2022, and is projected to reach $5.3 billion by 2032, registering a CAGR of 33.2% from 2023 to 2032.
Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/188810
Prime determinants of growth
The quantum photonics market is anticipated to expand significantly during the forecast period owing to an increase in demand for secure communication. In addition, advancements in quantum technologies fuel market growth. Additionally, quantum photonics is anticipated to benefit owing to the increase in demand for secure and high-performance solutions and is expected to present enormous opportunities for the market over the forecast period.
The Systems segment to maintain its leadership status throughout the forecast period.
Based on offering, the system segment held the highest market share in 2022, accounting for nearly three-fifths of the global quantum photonics market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to growing investments in R&D from both private and public sectors support the advancement of quantum photonics systems.
The Quantum Computing segment estimated to maintain its leadership status throughout the forecast period.
Based on application, the quantum computing segment held the highest market share in 2022, accounting for more than one-third of the global quantum photonics market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment is projected to manifest the highest CAGR of 33.94% from 2023 to 2032 due to the emergence of quantum cloud services.
Buy This Report (250+ Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/3r2qoQh
The Banking and Finance segment is projected to maintain its leadership status throughout the forecast period.
Based on verticals, the Banking and Finance segment held the highest market share in 2022, accounting for more than one-fourth of the global quantum photonics market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to the increasing threat of cyber-attacks and data breaches in the financial industry, the adoption of quantum key distribution (QKD) is expected to gain momentum. The same segment is projected to manifest the highest CAGR of 35.59% from 2023 to 2032 due to greater emphasis on secure communication. These factors collectively create a strong demand for quantum photonics in the banking and finance sector.
North America to maintain its dominance by 2032.
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global quantum photonics market revenue. Moreover Asia-Pacific region is expected to witness the fastest CAGR of 34.15% from 2023 to 2032, owing to rapid industrialization and increasing investment in quantum technology R&D through government-funded projects which are fueling the growth of the market in this region.
Want to Access the Statistical Data and Graphs, Key Players’ Strategies: https://www.alliedmarketresearch.com/quantum-photonics-market/purchase-options
Leading Market Players: –
- TOSHIBA CORPORATION
- XANADU
- QUANDELA
- ID QUANTIQUE
- ORCA COMPUTING LIMITED
- PSIQUANTUM
- TUNDRASYSTEMS GLOBAL LTD.
- QUIX QUANTUM BV
- IBM CORPORATION
- MAGIQ TECHNOLOGIES, INC.
The report provides a detailed analysis of these key players of the global quantum photonics market. These players have adopted different strategies such as product launch, product development, partnership, investment, acquisition, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Trending Reports in Semiconductor Industry:
Global Operational Technologies Market Size is Projected to Reach $292.7 Billion By 2032
Global eSim Market Is Projected to Reach $12.7 Billion By 2032, Growing at a CAGR of 14.3%
Global Humanoid Robot Market Is Projected to Reach $609.5 Million By 2031
Global 5g Modems Market is Projected to Reach $10.8 Billion By 2031, Growing At a CAGR of 29.1%
Global Artificial Intelligence Chip Market Is Projected to Reach $263.6 Billion By 2031, Growing At a CAGR of 37.1% From 2022 To 2031
Global Dram Market by Type, Technology, Application, End User: Global Report opportunity Analysis and Industry Forecast, 2023-2032
Contact Us:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/semiconductor-and-electronics