It is anticipated that the market for integrated quantum photonic circuits would expand at a 6.5% annual growth rate, from US$ 1.87 billion in 2021 to US$ 1.99 billion in 2022. The market is anticipated to grow significantly as more money is being allocated to the creation of a 5G network. Due to the intricate circuit design required for manufacturing, the market for integrated quantum optical circuits may encounter major challenges. By 2032, the sector is predicted by Future sector Insights to reach $3.75 billion USD.
Integrated quantum optical circuits are highly needed in the telecom industry because to the substantial funds being invested in the global rollout of 5G networks.The downsizing and optical scaling of optical quantum circuits are made possible by integrated quantum optical circuits.
Integrated Quantum Optical Circuits Market: Drivers and Challenges
The market for integrated quantum optical circuits is being driven by a number of causes, but one of the main ones is the increase in demand for better and faster internet access. The market for integrated quantum optical circuits is expanding at a good clip since it is one of the components that contributes to the goal’s resolution.
The fact that some regions are making the switch from conventional to new optical fibre technologies is another factor contributing to the growth of the market for integrated quantum optical circuits. Since the market for integrated quantum optical circuits will grow rapidly in some places and perform well on the global market as well, this shift serves as a market driver for such products.
The integrated quantum optical circuits market has been hampered in certain ways by the design complexity of these circuits.
As a result of the integrated quantum optical circuits’ rather difficult manufacturing processes, fewer manufacturers are drawn to the market for these products, which in turn reduces opportunities in some areas and slows the market’s expansion.
The high initial cost to adopt the particular circuits in the regions has been another barrier for the market for integrated quantum optical circuits. The adoption of integrated quantum optical circuits would be challenging in places like MEA, whereas regions like North America could easily afford to have them given their expenditure levels.
Integrated Quantum Optical Circuits Market: Key Players
Some of the key players of Integrated Quantum Optical Circuits market are: TE Connectivity, Intel Corporation, Emcore Corporation, Aifotec AG, Ciena Corporation, Finisar Corporation, Infinera Corporation, Oclaro Inc., Luxtera, Inc., and Neophotonics Corporation among others.
Integrated Quantum Optical Circuits Market: Regional Overview
Geographically speaking, the market for integrated quantum optical circuits may be divided into North America, Latin America, Western Europe, Eastern Europe, China, SEA and other APAC, Japan, Middle East & Africa, etc. In comparison to other regions, the integrated quantum optical circuits market in North America is thought to be the most valuable, with the U.S. integrated quantum optical circuits market being the most alluring.
Additionally, due to the presence of tier-1 manufacturers in the region and the rise in the number of communication industries using integrated quantum optical circuits, Western Europe and SEA & other regions of APAC are anticipated to have the fastest growth rates for the integrated quantum optical circuits market.
China, SEA, and other APAC countries are anticipated to overtake the Western European and North American integrated quantum photonic circuits markets. Additionally, the market for integrated quantum optical circuits is anticipated to grow in the area over the course of the forecast period because the majority of integrated quantum optical circuit manufacturers are based in North America and Western Europe.
The increased need for tiny optical communication devices, which would also enhance the market for integrated quantum optical circuits, is another factor contributing to the ongoing traction in the areas. It is anticipated that North America and Western Europe would account for more than 35% of the global market for integrated quantum photonic circuits.
Key Segments Covered in the Integrated Quantum Optical Circuits Industry Survey
Integrated Quantum Optical Circuits Market by Material Type:
- Indium Phosphide Integrated Quantum Optical Circuits
- Silica Glass Integrated Quantum Optical Circuits
- Silicon Photonics Integrated Quantum Optical Circuits
- Lithium Niobate Integrated Quantum Optical Circuits
- Gallium Arsenide Integrated Quantum Optical Circuits
Integrated Quantum Optical Circuits Market by Component:
- Integrated Quantum Optical Waveguides
- Integrated Quantum Optical Directional Coupler
- Integrated Quantum Optical Active Components
- Integrated Quantum Optical Light Sources
- Integrated Quantum Optical Detectors
Integrated Quantum Optical Circuits Market by Application:
- Integrated Quantum Optical Circuits for Optical Fiber Communication
- Integrated Quantum Optical Circuits for Optical Sensors
- Integrated Quantum Optical Circuits for Bio Medical Applications
- Integrated Quantum Optical Circuits for Quantum Computing
- Integrated Quantum Optical Circuits for Other Applications
Integrated Quantum Optical Circuits Market by Region:
- North America Integrated Quantum Optical Circuits Market
- Europe Integrated Quantum Optical Circuits Market
- Asia-Pacific Integrated Quantum Optical Circuits Market
- Middle East & Africa Integrated Quantum Optical Circuits Market
- Latin America Integrated Quantum Optical Circuits Market
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