Integrated Quantum Optical Circuits Market Outlook
According to the report by Expert Market Research (EMR), the global integrated quantum optical circuits market Size, Share attained a value of USD 822.3 million in 2022. Aided by the accelerating demand for high-speed, secure data transmission and the widening applications of integrated quantum optical circuits across various sectors, the market is projected to further grow at a CAGR of 14.10% between 2023 and 2028 to reach a value of USD 1,814.45 million by 2028.
Integrated quantum optical circuits, at the core, leverage the properties of quantum physics for computing and communication. They present a crucial component of quantum computing, quantum communication, and quantum sensing applications. Their unique features, like the ability to perform complex computations more quickly and securely compared to conventional methods, have made them integral to a myriad of sectors.
The expanding demand for advanced, secure, and high-speed communication is a primary driver for the global integrated quantum optical circuits market growth. As digital data generation and exchange continue to expand exponentially, there is a burgeoning need for effective security measures to prevent cyber threats. Integrated quantum optical circuits offer a secure communication medium that harnesses the laws of quantum mechanics, thereby making data breaches practically impossible. Consequently, the adoption of quantum communications using these circuits has skyrocketed, powering the market growth.
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Simultaneously, the escalating application of integrated quantum optical circuits in various sectors is significantly propelling the integrated quantum optical circuits market demand. The circuits are highly sought-after in industries like defence, healthcare, and banking for secure data transmission. In scientific research, these circuits offer a way to build sophisticated quantum simulators capable of probing physical phenomena that are currently intractable for classical computers. These wide-ranging applications present a substantial growth opportunity for the integrated quantum optical circuits market.
Further, the swift strides in quantum technology research have led to a surge in interest in integrated quantum optical circuits. The desire to achieve quantum supremacy and the vast potential of quantum technologies have catalysed intensive research and development activities. Resultant advancements in quantum optical circuits, such as improvements in scalability, manufacturability, and interoperability, are boosting their adoption and thereby fuelling the integrated quantum optical circuits market expansion.
In addition, the rising investment in quantum technologies worldwide is a major growth enabler for the market. Government bodies, academic institutions, and private organisations are ramping up investments in quantum research, recognising its transformative potential across sectors. These investments are vital for overcoming the technical challenges associated with the design and fabrication of integrated quantum optical circuits and bringing them closer to large-scale commercialisation.
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Moreover, the flourishing IoT sector contributes significantly to the integrated quantum optical circuits market development. The colossal amount of data generated by IoT devices necessitates ultra-secure and high-speed data processing and communication. Integrated quantum optical circuits, with their superior capabilities, are poised to revolutionise the IoT landscape and thereby stimulate market growth.
Integrated Quantum Optical Circuits Market Segmentation
The market can be divided based on material, application, and region.
Market Breakup by Material
- Silica Glass
- Silicon Photonics
- Lithium Niobate
- Indium Phosphide
- Gallium Arsenide
Market Breakup by Application
- Optical Fibre Communication
- Quantum Computing
- Optical Sensors
- Bio Medical
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global integrated quantum optical circuits companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Ciena Corporation
- Coherent Corp.
- Intel Corporation
- Infinera Corporation
- TE Connectivity Ltd.
- Emcore Corporation
- Lumentum Operations LLC
- Cisco Systems, Inc.
- Others
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