The global photonic integrated circuits (IC) & quantum computing market revenue is anticipated to reach USD 9.8 billion by 2033, up from USD 1.5 billion in 2023. Future Market Insight evaluated a noteworthy CAGR of 20.1% for the market between 2023 and 2033.
The demand for photonic integrated circuits (PIC) & quantum computing is on the rise. These solutions are increasingly deployed in a variety of applications, such as multiplexers, lasers, modulators, and optical amplifiers. As wireless technology continues to advance, the market is expected to witness considerable growth and profitability.
The demand has also increased given the growing use of optical fiber technologies. The demand for technological solutions that provide high-speed data transmission capabilities is also driving the demand for PICs. Companies that can provide innovative PIC solutions are likely to be well-positioned to take advantage of these expanding market opportunities.
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The market growth is also driven by the proliferation of information and communication technology. Telecommunication and network devices are becoming more affordable. Therefore, there is a rising need for high-bandwidth transmission devices.
Another significant factor driving the market growth is the increasing use of these circuits in optoelectronic devices. PICs are preferred given their low energy consumption, higher efficiency, and faster operational speed.
The demand for quantum computing is also booming given the increasing demand for Software as a Service (SaaS) business models. The growing workloads in data centers, as well as the complex processor architectures in conventional binary computing systems, are also contributing to this growth.
Key Takeaways from the Photonic IC & Quantum Computing Market:
- The photonic integrated circuits & quantum computing industry in the United States is predicted to reach USD 3.2 billion by 2033.
- The photonic integrated circuits and quantum computing industry in the United Kingdom is estimated to expand at a CAGR of 19.3% by 2033.
- During the forecast period, the photonic integrated circuits & quantum computing industry in China is expected to reach a market share of USD 809.4 million,
- The photonic IC and quantum computing industry in Japan is predicted to boom at a 19.6% CAGR.
- South Korea’s photonic integrated circuits & quantum computing industry is predicted to achieve a market share of USD 381.4 million.
- With a CAGR of 20.0% from 2022 to 2033, the hybrid integration segment is expected to dominate the photonic integrated circuits and quantum computing
- With a CAGR of 19.9% from 2022 to 2033, the optical fiber sensor application segment is expected to dominate the photonic IC & quantum computing
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Competitive Landscape
Market players in the photonic integrated circuit & quantum computing market are investing heavily in research and development to improve the performance and scalability of these technologies. They are also collaborating with other market players to accelerate innovation as well as bring new products and services to market. Additionally, they are focusing on strategic partnerships, acquisitions, and mergers to strengthen their position in the market.
Key Players
- Agilent Technologies
- Aifotec AG
- Alcatel-Lucent
- Ciena Corporation
- Broadcom Inc.
- EMCORE Corporation
- Enablence Technologies
- Hewlett-Packard
- Infinera Corporation
- Intel Corporation
- TE Connectivity
Recent Developments
- Intel presented a prototype at the Intel Labs virtual event in December 2020. The prototype aimed to serve as a proof-of-concept for the complete integration of optical photonics with core computation silicon. The prototype demonstrated a close coupling of photonics and CMOS technologies.
- Enablence introduced new planar lightwave circuit (PLC) devices in March 2019. The devices were intended for LAN Wavelength Division Multiplexing and Coarse Wavelength Division Multiplexing.
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Photonic Integrated Circuit & Quantum Computing Market Segmentation
By Type of Integration:
- Hybrid
- Monolithic
- Module
By Components:
- Lasers
- Modulators
- Photo Detectors
- Attenuators
- Optical Amplifiers
By Raw Materials:
- Lithium Niobate
- Silica-on-Silicon
- Silicon-on-Insulator
- Galium Arsenide
- Indium Phosphide
By Application:
- Optical Fiber Communications
- Optical Fiber Sensor
- Biomedical
- Quantum Computing
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa(MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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