Quantum Photonics Market

Quantum Photonics Companies - Xanadu (Canada) and PsiQuantum (US) are the Key Players

The quantum photonics market is valued at USD 0.4 billion in 2023 and is anticipated to be USD 3.3 billion by 2030, growing at a CAGR of 32.2% from 2023 to 2030. Factors such as the ing demand for secure communication and increasing investment in quantum photonics are driving the growth of the market during the forecast period.

Major Quantum Photonics companies include: 

  • Toshiba (Japan),
  • Xanadu (Canada),
  • Quandela (France),
  • ID Quantique (Switzerland),
  • ORCA Computing (UK),
  • PsiQuantum (US),
  • TundraSystems (UK),
  • Quix Quantum (Netherlands),
  • Nordic Quantum Computing Group (Norway),
  • Thorlabs (US),
  • AOSense (US),
  • Single Quantum (Netherlands), Qubitekk (US), QuintessenceLabs (Australia), NTT Technologies (Japan), NEC (Japan), M Squared (UK), CryptaLabs (UK), Nu Quantum (UK), Microchip Technology (US), Amazon Web Services (AWS) (US), QuantumXchange (US), Quantum Dice (UK), Menlo Systems (Germany), and QUSIDE(UK)

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These companies have employed a variety of growth approaches, such as product launches and development, expansions, collaborations, and acquisitions, to compete in the quantum photonics market. Partnerships have been the key strategy of players from 2020 to 2022 for expanding their customer base and strengthening their product portfolio.


Xanadu is one of the leaders in the quantum photonics market. With its pioneering photonic quantum computing technology, the firm has built strong partnerships with leading research institutions and offers a comprehensive software platform for quantum computing. It has developed a photonic quantum computer named Borealis which offers users access to quantum computational power that outperforms classical computers by a significant margin. Xanadu designs its chips in-house and then sends the designs to foundries to be manufactured using silicon components.


PsiQuantum is focused on developing a large-scale, error-corrected quantum computer based on photonic technology. The company aims to build the world's first utility-scale quantum computer that will enable quantum advantage and revolutionize computing capabilities. It has formed a subsidiary called Qlimate, dedicated to using quantum computing to solve computational problems for climate change. The company has also received significant investment from the UK government to collaborate with the UK’s Science and Technology Facilities Council (STFC) to overcome cryogenic infrastructure challenges facing quantum computing. By leveraging STFC’s expertise in cryogenic engineering and access to Europe's largest liquid-helium cryogenic plant, PsiQuantum hopes to accelerate its quantum computing roadmap and bring commercially relevant quantum computers to the market.


Quandela specializes in the development and commercialization of advanced photonics technologies for quantum information processing and quantum communication. The company’s flagship product is MosaiQ, a photonic quantum computing platform that enables the manipulation of high-quality, on-demand photons for the development and implementation of quantum algorithms and protocols. Quandela has strategically chosen to form partnerships with companies in various industries to leverage its expertise in photonic quantum computing. The company has partnered with CryptoNext Security (France) to develop a fully integrated quantum-safe solution for securing the transfer of sensitive data in various industries. The partnership showcases Quandela's commitment to exploring new and unexplored uses of its technology to contribute to the highest level of security in various fields.

ID Quantique (IDQ)

ID Quantique (IDQ) is a global company that develops and industrializes quantum products and technologies for organizations to ensure the long-term protection of data and public safety. The company is organized into two business units: Quantum-Safe Security and Quantum Sensing. IDQ provides high-performance quantum-safe security solutions for the protection of data in transit and develops random number generators based on quantum physics, which are used in several industries. The Quantum Sensing segment offers photon counting solutions for the visible and near-infrared parts of the optical spectrum, pulsed laser sources, timing and counting electronics, and photonic sensing solutions.


Toshiba is a leading company in the development and manufacturing of quantum cryptography solutions, including quantum key distribution (QKD). It offers two QKD platforms. One is its innovative multiplexing platform that allows the data and quantum keys to be transmitted on the same fiber. The other is a long-distance application platform that increases the key delivery speed and distance. The company operates through seven business segments: Electronic Devices & Storage Solutions, Infrastructure Systems & Solutions, Building Solutions, Energy Systems & Solutions, Retail & Printing Solutions, Digital Solutions, and Others. Toshiba has a geographic presence across Japan, Asia, North America, and Europe.

Related Reports:

Quantum Photonics Market Size by Offering (Systems, and Services), Application (Quantum Communications, Quantum Computing, and Quantum Sensing & Metrology), Vertical (Banking & Finance, Agriculture & Environment) and Region - Global Forecast to 2030

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Quantum Photonics Market Size,  Share & Growth Report
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