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Quantum Photonics Market worth $3.3 billion by 2030 - Exclusive Report by MarketsandMarkets™CHICAGO, June 7, 2023 /PRNewswire/ -- The Quantum Photonics Market size is valued at USD 0.4 billion in 2023 and is anticipated to be USD 3.3 billion by 2030; growing at a CAGR of 32.2% from 2023 to 2030 according to a new report by MarketsandMarkets™. The key factors contributing to the growth of the quantum photonics market include rising demand for secure communication, and growing investment in quantum photonics computing. Furthermore, the growth is being fueled by the potential for quantum supremacy.  Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=9223814 Browse in-depth TOC on "Satellite Communication (SATCOM) Equipment Market" Quantum Photonics Market Report Scope:
Services hold the second largest market share during the forecast period. Cloud-based quantum photonics services utilize the power of quantum photonics to perform complex tasks such as optimization, simulation, and data analytics. Leading providers of quantum photonics services include Xanadu (Canada), and Quandela (France). Quantum photonics technology enables the creation of qubits that can exist simultaneously in multiple states, resulting in greater computing power than traditional computers that use classical bits. Qubits can be manipulated and controlled using photonics, making quantum photonics a promising technology for solving complex problems. Despite being in its early stages, quantum photonics is experiencing significant advancements and is poised to revolutionize various industries. Quantum computing is expected to grow at the fastest rate during the forecast period. With its ability to perform complex calculations beyond classical computers, quantum computing experiences significant growth in the field of quantum- photonic technology. By leveraging the unique properties of photons, such as their ability to encode and manipulate quantum information, quantum- photonic systems offer advantages-in-quantum-computing and communication. The ability to manipulate qubits- using photons enables highly efficient and scalable quantum computing systems. Moreover, the integration of quantum- photonics-in-quantum-computing holds the potential for developing highly-secure- communication systems based on the principles of quantum mechanics. As a result, the quantum- computing segment is expected to grow rapidly as it unlocks new possibilities in computational power-and- secure communication. Banking & finance is expected to hold the larger share during the forecast period. The banking & finance sector is expected to dominate the quantum photonics industry during the forecast period. Several growth factors contribute to this trend, including the ability of quantum photonics to enable real-time data analysis, secure financial transactions with advanced encryption algorithms, detect and prevent fraud, improve investment decisions through data-driven insights, and provide accurate credit risk assessments. These factors drive industry adoption and foster innovation in the sector as financial institutions seek to leverage the potential of quantum photonics to enhance efficiency, security, and decision-making in their operations. Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=9223814 Asia Pacific to grow at the fastest CAGR during the forecast period. The Asia Pacific region is expected to grow at the fastest CAGR in the quantum photonics market during the forecast period. Many Asian countries, notably China, Japan, South Korea, Singapore, and Australia, invest heavily in quantum technology R&D through government-funded projects. These projects are focused on boosting quantum photonic computing R&D, helping stimulate innovation in the sector. In addition, the Asia Pacific region is investing in education and training initiatives to produce the next generation of quantum technology researchers and professionals. Universitiesersities and research institutes here provide specialized programs in quantum technology and related subjects, preparing students to contribute to the progress of the quantum photonic computing sector. Toshiba (Japan), Xanadu (Canada), Quandela (France), ID Quantique (Switzerland), ORCA Computing (UK), and PsiQuantum (US), are the major players in quantum photonics companies. These players have implemented various strategies to extend their global reach and enhance their market share. Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=9223814 Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting Related Reports: Quantum Computing Market Size, Share and Industry Growth Analysis Report by Offering, Deployment (on-Premises and Cloud), Application (Optimization, Simulation, Machine Learning), Technology (Trapped Ions, Quantum Annealing, Superconducting Qubits), End User and Region- Global Growth Driver and Industry Forecast to 2028 Quantum Cryptography Market by Offering (Solutions and Services), Security Type (Network Security and Application Security), Vertical (Government, Defense, BFSI, Healthcare, Retail, and eCommerce) and Region - Global Forecast to 2028 Photonic Integrated Circuit (IC) & Quantum Computing Market (2012 – 2022): By Application (Optical Fiber Communication, Optical Fiber Sensors, Biomedical); Components (Lasers, Attenuators); Raw Materials (Silica on Silicon, Silicon on Insulator) Silicon Photonics Market with Recession Impact Analysis by Product (Transceivers, Switches, Sensors), Application (Data Centers & High-Performance Computing, Telecommunications), Waveguide, Component and Geography - Global Forecast to 2028 Optical Interconnect Market by Product Category (Cable Assemblies, Connectors, Optical Transceivers), Interconnect Level, Fiber Mode, Data Rate, Distance, Application (Data Communication, Telecommunication), Region - Global Forecast to 2025 About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
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