Quantum Photonics market size is projected to grow from USD 0.4 billion in 2023 and is anticipated to USD 3.3 billion by 2030, growing at a CAGR of 32.2% from 2023 to 2030.
Rising demand for secure
communication and growing investment in quantum photonics computing to drive
market growth during the forecast period. Factors such as growing R&D and
investments in quantum photonics computing provides market growth opportunities
for market.
Driver: Rising demand
for secure communication
The need for more
reliable and secure communication systems at a time of rising cyber threats is
driving the rising need for secure communication in quantum photonics.
Classical cryptography-based traditional communication systems are susceptible
to hacking and eavesdropping, but quantum computing presents a viable answer to
these security issues. Quantum cryptography, which is founded on the
fundamental ideas of quantum mechanics, is used in quantum photonics to provide
very secure communication. Quantum cryptography is very resistant to hacking
and eavesdropping because it harnesses the characteristics of quantum states to
encrypt and transfer information.
For instance, two
parties can create a shared secret key using photons in quantum key
distribution (QKD), which can then be used to encrypt and decode data. The
safety of QKD is predicated on the fact that any effort to measure or intercept
the photons will invariably cause them to lose their quantum states, alerting
the parties to the presence of an observer. There is an increasing demand for
highly secure communication systems that can guard against hacking and
eavesdropping as the volume and sensitivity of digital communication continue
to expand. In the future of secure communication, quantum photonics is
anticipated to play a significant role and offers a possible solution to this
problem.
Multiple factors that
contribute the necessity for secure communication in quantum photonics,
including Protection against cyber threats, Global connectivity, High-security
applications, Legal requirements. Overall, the demand for secure communication
in quantum photonics market is driven by the need for protection against cyber
threats, the need for high-security applications, the need for global
connectivity, and legal requirements. As the demand for secure communication
continues to grow, it is expected that the market for quantum photonics will
continue to expand.
In April 2022, British
Telecommunications (UK) and Toshiba (Japan) launched the first commercial
testing of quantum encrypted communication services. BT, Toshiba, and EY (UK)
have started a trial of the world's first commercial quantum-secured metro
network. The infrastructure was able to connect a large number of clients
across London, allowing them to secure the transmission of vital data and information
between different physical locations utilizing quantum key distribution (QKD)
over regular fiber optic cables. QKD is an essential technology that plays a
critical role in defending networks and data from the rising threat of quantum
computing-based cyber-attacks. The London network is an important step toward
the UK government's goal of becoming a quantum-enabled economy.
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Restraint: Regulatory
challenges can hinder quantum photonics adoption and commercialization
Regulations can be a
significant obstacle for companies seeking to develop and commercialize quantum
photonics technology. These regulations can come from a variety of sources,
such as data privacy, intellectual property, export controls, safety regulations,
and standards and interoperability. For example, strict data privacy
regulations in finance and healthcare may require additional security measures
to comply, while patent disputes and licensing agreements can add complexity
and cost to development. Export controls and safety regulations may also delay
deployment. Also, establishing new standards and interoperability with existing
technologies can add further complexity and time to the development process.
Companies need to work with regulatory bodies and stakeholders to ensure
compliance and navigate these challenges, which can slow down the adoption and
commercialization of quantum photonics computing technology.
Opportunity:
Advancements in quantum communications
Researchers working on
quantum communication are concentrating on creating safe communication
protocols that make advantage of entanglement and superposition. Quantum key
distribution, which enables the safe exchange of cryptographic keys between two
parties, is one of the most promising uses of quantum communication.
Researchers are aiming
to create quantum computers that employ photonic qubits (quantum bits) rather
than conventional electrical qubits in quantum photonics computing. In
comparison to electrical qubits, photonic qubits offer a number of benefits,
such as the capacity to travel across great distances without suffering
substantial information loss and their comparatively simple manipulation.
The demonstration of
large-scale integrated photonic circuits for processing quantum information,
such as the development of a 100-qubit photonic chip by researchers at the
University of Bristol, are recent developments in quantum photonics computing.
The development of effective photon sources and detectors for use in quantum
photonics computing systems has also advanced. Several companies are actively
working an advancements in the field of quantum photonics, which include
PsiQuantum (US), Xanadu (Canada), Toshiba (Japan), etc. These are only a few
instances of businesses engaged in developments in the area of quantum
photonics computing. Numerous other businesses and university research teams
are also making important contributions to this fascinating topic.
Challenge: Experimental
constraints in quantum photonics computing
Quantum photonics
computing is a new area of study that intends to employ photons, which are
light particles, to carry and analyze quantum information. While this
technology has the potential to revolutionize computing, various obstacles must
be overcome before it can be implemented in practice. The area of quantum
photonics computing has recently experienced various hurdles that have hindered
its development toward practical applications.
Experimental constraints provide a substantial hurdle to quantum
photonics. Although theoretical models and methods for quantum photonics
computing have been established, implementing them in actual devices remains a
significant issue due to experimental constraints. Some of these challenges
include high error rates, scaling up quantum photonics computing systems,
maintaining the coherence of qubits which are the basic building blocks of
quantum computers, detection and measurement of photonic qubits.
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