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Global Quantum Photonics Market to reach USD 2.97 billion by the end of 2030

Global Quantum Photonics Market Size study & Forecast, 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) and Regional Analysis, 2023-2030

Product Code: EESC-76797815
Publish Date: 29-02-2024
Page: 200

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:
Ø Recent development – NA
Global Quantum Photonics Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Offering, Application, Verticals, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü 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

By Application
Quantum Computing
Quantum Sensing and Metrology
Quantum Communication

By Verticals
Banking and Finance
Space and Defense
Transportation and Logistics

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Quantum Photonics Market, by region, 2020-2030 (USD Billion)
1.2.2. Quantum Photonics Market, by Offering, 2020-2030 (USD Billion)
1.2.3. Quantum Photonics Market, by Application, 2020-2030 (USD Billion)
1.2.4. Quantum Photonics Market, by Verticals, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Quantum Photonics Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Quantum Photonics Market Dynamics
3.1. Quantum Photonics Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising adoption of quantum technology Growing demand for high-performance computing
3.1.2. Market Challenges Lack of standardization in quantum photonics Regulatory challenges
3.1.3. Market Opportunities Advancement in quantum communications Growing R&D and investments in quantum photonics computing
Chapter 4. Global Quantum Photonics Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Quantum Photonics Market, by Offering
5.1. Market Snapshot
5.2. Global Quantum Photonics Market by Offering, Performance – Potential Analysis
5.3. Global Quantum Photonics Market Estimates & Forecasts by Offering 2020-2030 (USD Billion)
5.4. Quantum Photonics Market, Sub Segment Analysis
5.4.1. Systems
5.4.2. Services
Chapter 6. Global Quantum Photonics Market, by Application
6.1. Market Snapshot
6.2. Global Quantum Photonics Market by Application, Performance – Potential Analysis
6.3. Global Quantum Photonics Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Quantum Photonics Market, Sub Segment Analysis
6.4.1. Quantum Computing
6.4.2. Quantum Sensing and Metrology
6.4.3. Quantum Communication
Chapter 7. Global Quantum Photonics Market, by Verticals
7.1. Market Snapshot
7.2. Global Quantum Photonics Market by Verticals, Performance – Potential Analysis
7.3. Global Quantum Photonics Market Estimates & Forecasts by Verticals 2020-2030 (USD Billion)
7.4. Quantum Photonics Market, Sub Segment Analysis
7.4.1. Banking and Finance
7.4.2. Space and Defense
7.4.3. Healthcare
7.4.4. Transportation and Logistics
7.4.5. Government
7.4.6. Others
Chapter 8. Global Quantum Photonics Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Quantum Photonics Market, Regional Market Snapshot
8.4. North America Quantum Photonics Market
8.4.1. U.S. Quantum Photonics Market Offering breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 Verticals breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Quantum Photonics Market
8.5. Europe Quantum Photonics Market Snapshot
8.5.1. U.K. Quantum Photonics Market
8.5.2. Germany Quantum Photonics Market
8.5.3. France Quantum Photonics Market
8.5.4. Spain Quantum Photonics Market
8.5.5. Italy Quantum Photonics Market
8.5.6. Rest of Europe Quantum Photonics Market
8.6. Asia-Pacific Quantum Photonics Market Snapshot
8.6.1. China Quantum Photonics Market
8.6.2. India Quantum Photonics Market
8.6.3. Japan Quantum Photonics Market
8.6.4. Australia Quantum Photonics Market
8.6.5. South Korea Quantum Photonics Market
8.6.6. Rest of Asia Pacific Quantum Photonics Market
8.7. Latin America Quantum Photonics Market Snapshot
8.7.1. Brazil Quantum Photonics Market
8.7.2. Mexico Quantum Photonics Market
8.8. Middle East & Africa Quantum Photonics Market
8.8.1. Saudi Arabia Quantum Photonics Market
8.8.2. South Africa Quantum Photonics Market
8.8.3. Rest of Middle East & Africa Quantum Photonics Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Quix Quantum B.V. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. ID Quantique SA
9.3.3. PsiQuantum Technologies, Inc
9.3.4. Toshiba Corporation
9.3.5. Xanadu Inc
9.3.6. MagiQ Technologies, Inc
9.3.7. Quandela Inc
9.3.8. Tundra Systems Global Ltd
9.3.9. ORCA Computing Limited
9.3.10. International Business Machines Corporation
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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