Global Quantum Computing Market was valued US$ 198.31 Mn in 2019 and is expected to reach US$ 890.5 Mn by 2027, at CAGR of 28.44 % during forecast.
Quantum computing market growth is being driven by factors like increasing incidences of cybercrime, early adoption of quantum computing technology in automotive and defense industry, and growing investments by government entities in quantum computing market. On the other hand, presence of substitute technology and reluctance to accept new technology are factors limiting the growth of quantum computing market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Quantum computing market in the energy & power industry is projected to witness a CAGR of 40% from 2017 to 2023. This growth is primarily attributed to the beneficial opportunities existing in the nuclear and renewable sector. Applications like energy exploration, seismic survey optimization, and reservoir optimization are estimated to lead this industry in quantum computing market.
North America was holding the largest market share of quantum computing market in 2016. North America is a key market as it is the home ground for some of the major corporations like D-Wave Systems Inc., 1QB Information Technologies, Inc. The increased research and development (R&D) activities in the sector of quantum computing are directed in this region as well as the heavy investments by government activities and technologically advanced players International Business Machines Corporation, Microsoft Corporation, Google Inc., and Intel Corporation are factors driving the growth of quantum computing market in North America. The R&D at industry levels is extending the application areas of the quantum computing market in various industries like energy & power, defense, and chemicals, especially in US.
Owing to the economic interest and ‘decline of Moore’s law’ of computational scaling, eighteen of the world’s biggest corporations and dozens of government organizations are working on quantum processor technologies and quantum software or associating with the quantum industry startups like D-Wave. Their determination reflects a wider transition, taking place at start-ups and academic research labs like move from pure science towards engineering.
Quantum computing market report evaluates the technology, companies/associations, R&D efforts, and potential solutions assisted by quantum computing. It also estimates the impact of quantum computing on other major technologies and solution areas with AI, chipsets, edge computing, blockchain, IoT, big data analytics, and smart cities. This report offers global and regional forecasts as well the viewpoint for quantum computing impact on hardware, software, applications, and services
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Quantum Computing market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Quantum Computing market.
Scope of Global Quantum Computing Market:
Global Quantum Computing Market, by Technology:
• Superconducting loops technology
• Trapped ion technology
• Topological qubits technology
Global Quantum Computing Market, by Application:
• Simulation
• Optimization
• Sampling
Global Quantum Computing Market, by Component:
• Hardware
• Software
• Services
Global Quantum Computing Market, by Industry:
• Defense
• Banking & Finance
• Energy & Power
• Chemicals
• Healthcare & Pharmaceuticals
Global Quantum Computing Market, by Region:
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa
Key Players Operating in Market Include:
• D-Wave Systems Inc
• 1QB Information Technologies Inc.
• QxBranch LLC
• QC Ware Corp. and Research at Google-Google Inc.
• International Business Machines Corporation
• Lockheed Martin Corporation
• Intel Corporation
• Anyon Systems Inc.
• Cambridge Quantum Computing Limited
• Rigetti Computing
• Magiq Technologies Inc.
• Station Q – Microsoft Corporation
• IonQ
• Quantum Computing Software Start-ups
• Qbit
• Alibaba
• Ariste-QB.net
• Atos
• Q-Ctrl
• Qu and Co
• Quantum Benchmark
• SAP
• Turing
• Zapata
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