Press release
Top Factor Driving Quantum Photonics Market Growth in 2025: The Impact Of Growing Medical Imaging And Diagnostics On The Quantum Photonics Market
Quantum Cryptography Solutions
The growing use of medical imaging and diagnostics is anticipated to drive the quantum photonics market. Medical imaging refers to techniques used to create visual representations of the human body for diagnostic and treatment purposes. The demand for early disease detection and precise treatment is increasing, fueling the need for advanced imaging. Quantum photonics improves medical imaging by enhancing resolution and sensitivity, enabling more accurate diagnostics. For example, in December 2022, the NHS conducted 44 million imaging tests, a 26% increase from the previous year. Therefore, the growing demand for medical imaging will boost the quantum photonics market.
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What is the projected compound annual growth rate (CAGR) of the quantum photonics market from 2025 to 2034, and what factors influence it?
The quantum photonics market has grown rapidly in recent years. It will increase from $0.59 billion in 2024 to $0.8 billion in 2025, at a CAGR of 37.3%. Drivers for this growth include the increasing demand for secure communication technologies, growing use in medical imaging, demand for quantum-enhanced imaging systems, the potential for quantum supremacy, and growing investment in quantum photonics.
The quantum photonics market is expected to grow to $2.83 billion by 2029 at a CAGR of 37.0%. Growth will be driven by increased demand for quantum communication networks, advancements in quantum cryptography, a need for ultra-secure communication systems, and the growing adoption of quantum technologies. Key trends include advancements in quantum communication, increased R&D, and a focus on quantum technology investments.
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How are the latest trends influencing the growth of the quantum photonics market?
Companies in the quantum photonics market are introducing groundbreaking innovations to revolutionize computational capabilities. For instance, in June 2022, Xanadu, a Canada-based quantum computing company, launched Borealis, a cloud-accessible quantum computing marvel with 216 squeezed-state qubits. Borealis is the first fully programmable photonic quantum computer and is designed to demonstrate a quantum computational advantage.
What are the major segments of the quantum photonics market and their role in driving growth?
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
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Which regions are key players in the growth of the quantum photonics market?
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.
Who are the key firms paving the way for growth in 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.
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What Is Covered In The Quantum Photonics Global Market Report?
•Market Size Forecast: Examine the quantum photonics market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the quantum photonics market for a structured understanding.
•Key Players Overview: Analyze major players in the quantum photonics market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the quantum photonics market.
•Segment Contributions: Evaluate how different segments drive overall growth in the quantum photonics market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the quantum photonics market.
•Industry Challenges: Identify potential risks and obstacles affecting the quantum photonics market.
•Competitive Landscape: Review strategic developments in the quantum photonics market, including expansions, agreements, and new product launches.
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