Quantum Photonics Market Size, By Component (Systems, Services), By Application (Quantum Communication, Quantum Computing, Quantum Sensing & Metrology), By End-use Industry & Forecast 2024 - 2032

Quantum Photonics Market Size, By Component (Systems, Services), By Application (Quantum Communication, Quantum Computing, Quantum Sensing & Metrology), By End-use Industry & Forecast 2024 - 2032

Quantum Photonics Market size is set to record more than 33.5% CAGR from 2024 to 2032, driven by the surging partnerships and hefty investments for advancements. Researchers are exploring new applications and technologies that utilize quantum properties of light. They are also developing prototypes and conducting experiments to harness these capabilities effectively.

In addition, several companies are expanding their portfolios and integrating quantum photonics into various industries from communication to computing. This ongoing synergy between research and industry is leading to the introduction of new frontiers in technology, further paving the way for transformative advancements in photonics-based quantum technologies. For instance, in November 2023, Microsoft and Photonic partnered to advance quantum photonics to scale quantum technologies by leveraging photonic principles for groundbreaking advancements in computing and communication.

The quantum photonics industry is segmented into component, application, end-use industry, and region.

The market size from the systems component segment will record a decent growth rate between 2024 and 2032, due to higher integration with quantum principles and photonics technology for enabling advanced computing and secure communication solutions. Researchers are developing prototypes and conducting experiments to harness quantum effects in photonics systems effectively. They are also refining quantum algorithms and enhancing photon manipulation techniques to scale up production of quantum photonics systems to deploy them in diverse applications.

In terms of end-use industry, the quantum photonics market from the telecommunication segment is anticipated to witness significant CAGR from 2024-2032. Quantum photonics are reshaping the possibilities in the telecommunication field by enabling the transmission of information through quantum states of light for pushing the boundaries of data transfer. Researchers are developing technologies that employ quantum principles into telecommunications. Rising advancements for enhancing data security and speed as well as revolutionizing network infrastructure will add to the segment growth.

Asia Pacific quantum photonics industry size will record significant CAGR through 2032 due to increasing focus on quantum metrology and the higher utilization of quantum technology for precise measurements. The demand for quantum sensing and imaging applications across scientific and industrial sectors is rising. Rapid developments are driving R&D efforts in the region. The growing demands for quantum sensing and imaging technologies on account of the growing scientific and industrial advancements will favor the regional market expansion.