Using localization, matrix model and saddle-point techniques, we determine
exact behavior of circular Wilson loop in N=2 superconformal (quiver) gauge
theories. Focusing at planar and large `t Hooft couling limits, we compare its
asymptotic behavior with well-known exponential growth of Wilson loop in N=4
super Yang-Mills theory. For theory with gauge group SU(N) coupled to 2N
fundamental hypermultiplets, we find that Wilson loop exhibits non-exponential
growth -- at most, it can grow a power of `t Hooft coupling. For theory with
gauge group SU(N) x SU(N) and bifundamental hypermultiplets, there are two
Wilson loops associated with two gauge groups. We find Wilson loop in untwisted
sector grows exponentially large as in N=4 super Yang-Mills theory. We then
find Wilson loop in twisted sector exhibits non-analytic behavior with respect
to difference of two `t Hooft coupling constants. By letting one gauge coupling
constant hierarchically larger/smaller than the other, we show that Wilson
loops in the second type theory interpolate to Wilson loop in the first type
theory. We infer implications of these findings from holographic dual
description in terms of minimal surface of dual string worldsheet. We suggest
intuitive interpretation that in both type theories holographic dual background
must involve string scale geometry even at planar and large `t Hooft coupling
limit and that new results found in the gauge theory side are attributable to
worldsheet instantons and infinite resummation therein. Our interpretation also
indicate that holographic dual of these gauge theories is provided by certain
non-critical string theories.Comment: 52 pages, 7 figures v2. more figures embedded v3. minor stylistic
changes, v4. published versio