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What Is The Leading Driver Behind The Impact Of Growing Medical Imaging And Diagnostics On The Quantum Photonics Market Market Expansion in 2025
Quantum Photonics Market
What Is the Expected CAGR for the Quantum Photonics Market Through 2025?
In recent times, the market size of quantum photonics has experienced an exponential growth. From 2024 to 2025, it is expected to expand from $0.59 billion to $0.79 billion, showcasing a compound annual growth rate (CAGR) of 35.6%. This remarkable growth during the historic phase can be traced back to an increased requirement for secure communication technologies, expanding applications in the domain of medical imaging and diagnostics, an ascending demand for quantum-enhanced imaging systems, the potential for quantum supremacy, along with a notable upsurge in the investments in the quantum photonics industry.
What's the Projected Size of the Global Quantum Photonics Market by 2029?
The market size of quantum photonics is predicted to witness a substantial escalation in its worth in the forthcoming years. It is projected to reach $2.59 billion by the end of 2029, with a compound annual growth rate (CAGR) of 34.3%. This surge in the estimation period can be credited to the heightened focus on quantum communication networks, evolution in quantum cryptography, a growing need for unbreachable communication, increased implementation of quantum technology, and an escalated demand for superior performance computing. The significant trends of this estimation period include progress in quantum communications, advancements in quantum technologies, an expansion of investments, and rigorous research and development initiatives in the field of quantum photonics.
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Top Growth Drivers in the Quantum Photonics Industry: What's Accelerating the Market?
The quantum photonics market is set to benefit from increased applications in medical imaging and diagnostics. These advanced techniques and processes, aimed at generating human body images for diagnostic and therapy purposes, are seeing elevated demand due to growing public interest in early disease identification and precise treatment approaches. Quantum photonics plays an invaluable role here, improving these applications with greater resolution imaging, enhanced sensitivity for biomarker detection, and contributing to the creation of novel imaging modalities. These benefits collectively lead to improved diagnostic precision and better patient prognosis. For instance, the UK government's National Health Service (NHS) performed 44 million imaging tests up to March 2022 following December 2022, showing a significant escalation from the 34.9 million tests carried out the prior year, a growth of 26%. Consequently, the quantum photonics market expansion is being fueled by increasing applications in medical imaging and diagnostics.
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What Trends Will Shape the Quantum Photonics Market Through 2029 and Beyond?
Leading firms within the quantum photonics market are innovating in the realm of quantum computing to transform computational capacities. The term 'Quantum Computing Marvels' denotes the exceptional progress and unique capabilities that arise in the quantum computing space. For example, in June 2022, Xanadu, a quantum computing enterprise based in Canada, introduced Borealis, a cutting-edge quantum computing marvel, which is publicly accessible through cloud connectivity. Proudly offering 216 squeezed-state qubits, Borealis stands as the pioneer photonic quantum computer that allows full programmability of all its gates, showcasing a quantum computational edge.
What Are the Main Segments in the Quantum Photonics Market?
The quantum photonicsmarket 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 Top Companies are Driving 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.
Which Regions Will Dominate the Quantum Photonics Market Through 2029?
North America was the largest region in the quantum photonics market in 2024. 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.
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