Global Integrated Quantum Optical Circuits Market was valued at US$ 426 Mn in 2017 and is expected to reach US$ 1450 Mn by 2026 at CAGR of 16.55% during a forecast period. North America generated the highest revenue share in 2017 and is expected to grow at a CAGR of 14.6% during the forecast period.
Global Integrated Quantum Optical Circuits Market
Integrated Quantum Optical Circuit is a device that combines multiple optical devices to form a single photonic circuit. This device takes light instead of electricity for signal processing and computing. It consists of a complex circuit design due to the integration of various optical devices including a multiplexer, amplifier, modulator and other into a small compact circuit. Usually, integrated circuits work by conducting electricity whereas the photonic circuit uses quantum of lights for the signal processing.
Hybrid photonic and monolithic integration are the two different kinds of photonic integration methods. The hybrid photonic circuit consists of a package of photonic devices, which are used for the same function whereas a lot of optical devices of different function are integrated to form a single IC. The application of Integrated Quantum Optical Circuits includes fiber-optic communication, biomedical, computing, and optical sensors.
Increase in demand for high-speed internet connectivity, multiplication of app-based solution in personal & professional services and an increase in demand for powerful and enhanced alternative for usual technology are key factors that drive the growth of the globally integrated quantum optical circuits market. Currently, the developing countries such as India, China, Brazil, and others are focusing on constructing a high-speed internet infrastructure. Hence, an increase in investment by IT & telecom industry over these countries is expected to raise the demand for high-speed internet connectivity. Therefore, different developed economies are investing in these countries to build their business globally.
Although, the high initial cost and design complexity associated with the fabrication of circuits are expected to restrain the growth of the global market. Also, the rise in investment on building a 5G network is anticipated to provide gainful growth opportunities for the global integrated quantum optical circuits market in near future.
Optical fiber sensors segment dominated the global integrated quantum fiber circuits market in 2017 and is expected to continue dominant during the forecast period. Optical sensors application is the other hopeful application in this market. It is used in fields like defense, aerospace, energy, transportation, medicine, and further appearing fields. Quantum computing is another application of Photonic Integrated circuits (PICs) which is forecasted to be commercialized in 2017. This technology is expected to entirely transform the computing industry. PICs are also used in the biomedical field.
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In 2017, North America generated the highest revenue in the globally integrated quantum optical circuits market and it is expected to dominate during the forecast period, due to at present North America has the largest market for PIC based products, especially in data centers and WAN applications of optical fiber communication. However, Asia Pacific (APAC) is the immense player in the access network application of optical fiber communications right now. North America is the leader in a PIC market with 49% market share still it is estimated that APAC will appear as the market leader by 2026 growing at a CAGR of 35.9% from 2018 to 2026.
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