PORTLAND, Oregon, January 16, 2019 /PRNewswire/ --
Surge in demand for high-speed internet connectivity, proliferation of app-based solutions for personal & professional use, rise in need for effective & enhanced alternatives for conventional technology, and increase in demand for quantum computing would propel the growth of the global integrated quantum optical circuit market
Allied Market Research published a report, titled, Integrated Quantum Optical Circuits Market by Material Type (Indium Phosphide, Silica Glass, Silicon Photonics, Lithium Niobate, and Gallium Arsenide) and Application (Optical Fiber Communication, Optical Sensors, Bio Medical, Quantum Computing, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025. This report offers comprehensive analyses of the global integrated quantum optical circuit market along with the market trends, industry dynamics, key player positioning, top investment pockets, and competitive landscape. According to the report, the global integrated quantum optical circuit market generated $426 million in 2017 and is expected to reach $1,460.2 million by 2025, registering a CAGR of 16.3% from 2018 to 2025.
Augmented demand for high-speed internet connectivity coupled with rapid proliferation of app-based solutions for personal & professional interests drives the growth of the market. In addition, increasing use of effective & enhanced conventional technology alternatives and growing demand for quantum computing supplement the market growth. However, high initial cost and design complexity hinder the growth of the market. On the contrary, heavy inflow of investment on implementing 5G network worldwide would create lucrative prospects for the market players.
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Silicon photonics segment to accrue highest revenue, indium phosphide to grow fastest through 2025
Among material types, the silicon photonics segment contributed the highest share of 31% in 2017 and is expected to maintain its revenue lead throughout the study period. This is because silicon photonics uses silicon as an optical medium, which can be operated at a wavelength of 1.55 µm and is also compatible with EIC fabrication technology. In addition, it has a wide range of applications such as modulators and detectors among others, and can be a reused technology. Moreover, it reduces the total cost of ownership, improves the performance of data center architectures, and allows deployment of software-defined infrastructure (SDI) to decouple software and hardware for disaggregated data centers. However, the indium phosphide segment would grow at the fastest CAGR of 17.7% from 2018 to 2025, owing to heavy inflow of investment in implementing 5G networks and increased demand for connected devices, AI chipsets, and smart devices among others. The other material types analyzed in the report include silica glass, lithium niobate, and gallium arsenide.
Optical fiber communication segment to retain lead through 2025
The optical fiber communication segment held nearly two-fifths share of total market in 2017, owing to the increase in data consumption and surge in app-based applications worldwide. This segment is projected to maintain its dominance through 2025. Furthermore, quantum computing segment is projected to register the fastest CAGR of 17.4% from 2018 to 2025, owing to high investment on data warehouse and need for fast computing devices. The report also analyzes optical sensors, bio-medical, and other applications.
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North America to contribute highest revenue, LAMEA to attain fastest growth
The North American market for integrated quantum optical circuit contributed 42.2% of the total market share in 2017 and is expected to retain its dominance throughout the forecast period. This is due to the early adoption of new technologies, high spending on R&D, and rapid innovations in the region supplemented with the presence of numerous U.S.-based companies in integrated quantum optical circuit industry. On the other hand, Latin America, Middle East, and Africa (LAMEA) is expected to register the fastest CAGR of 19.3% from 2018 to 2025. The market in the region has the potential to contribute significantly in the next few years, as it is relatively untapped as compared to the other regions.
Torchbearers of the Industry
The key players analyzed in the report include Aifotec AG, Ciena Corporation, Finisar Corporation, Intel Corporation, Infinera Corporation, Neophotonics Corporation, TE Connectivity, Oclaro Inc., Luxtera, Inc., and Emcore Corporation. The companies have adopted expansion, product development, collaboration, joint ventures, and merger strategies to sustain the intense market competition in the industry.
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