One of the earliest problems in computing during the early years was that there was not enough storage to store data. That problem has been rectified to a certain extent with the presence of higher density storage devices being made available in the market. Further to this, the data center market in itself has seen considerable growth over the years in terms of the number of data centers which have been established and the volume of data which they deal with on a day to day basis. The next problem however was with how this data could be transferred effectively with high speed and minimal loss. Copper cables were used for the transmission of power and data, however, there were always drawbacks to how much data could be transferred and of course, the efficiency of the cables. Photonic Integrated Circuit use photons instead of electrons, which has been found to be considerably faster.
Photonic integrated circuit technology has allowed for communication of data to be faster and has paved the way for quantum computing. Quantum computing has allowed for the testing and analysis of data on a different level, which was not previously possible. DNA testing, skin analysis as part of the healthcare industry was always possible, however, through the use of quantum computing, this analysis can be done faster and as such, will become a lot more cost-efficient.
As on date, the technology is still very much in its nascent stage and hence, geographical contribution by this product is almost equally spread with North America having a slightly higher edge over the remaining regions. Continual investment in R&D will allow for a higher growth rate of the technology well beyond the forecast period. The first segment to benefit from this technology will be the telecom industry.
The Photonic Integrated Circuit (IC) & quantum computing Market can be segmented as