Global Quantum Computing Market is valued at approximately USD 472 million in 2021 and is anticipated to grow with a healthy growth rate of more than 30.2% over the forecast period 2022-2029. Quantum Computing is a kind of advanced developing computing which is based on quantum theory and quantum mechanics.
Quantum computing, which follows the principles of quantum physics, has been applied using the quantum computer. In terms of speed, bits, and data, it is different from traditional computing. Quantum computing uses all the states between 0 and 1, which helps in better outcomes and fast speed, as compared to classical computing, which only uses the two bits 0 and 1. In research, quantum computing is mostly used to compare various solutions and choose the most suitable one for a complex task.
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Chemicals, utilities, healthcare & pharmaceuticals, military, and many more industries have used it. The key factors driving the market growth are rising adoption of quantum computing in banking and finance industry, increasing investments in quantum computing technology, and surge in the number of strategic collaborations and partnerships to carry out advancements in quantum computing technology.
For Instance, in 2020, IBM and Daimler AG, the parent company of Benz and Mercedes, collaborated together to improve the battery capacity and charging speed. These companies used a quantum computer to simulate the dipole moment of three lithium-containing molecules, clearing the way for the development of lithium sulphur (Li-S) batteries, the next-generation lithium-ion alternatives that are more powerful, durable, and affordable. Also, technological advancements in quantum computing would create lucrative opportunities for the market during forecast period. However, the complexities in quantum computing implementation stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Quantum Computing Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of key technology providers, and growing R&D investments in developing quantum computers, quantum computing math, and quantum computing applications boost the market size. Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising initiatives and funding by governments, and growing number of strategic alliances to boost Quantum Computing Market in the region.
Major market players included in this report are:
Honeywell International, Inc. (US)
Accenture (Ireland)
Rigetti & Co, Inc. (US)
1QB Information Technologies, Inc. (Canada)
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IonQ (US)
Atom Computing, Inc. (US)
ID Quantique (Switzerland)
QuintessenceLabs (Australia)
Toshiba Research Europe Ltd. (UK)
Microsoft (US)
Recent Developments in the Market:
In 2019, The Unitary Fund and IBM cooperated to provide grants and special access to certain IBM Q systems. The Unitary Fund’s goal is to create a quantum technology industry that serves the majority of people, more as IBM’s quantum computing mission.
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Offering:
Systems
Services
By Deployment:
On Premises
Cloud Based
By Application:
Optimization
Simulation
Machine Learning
Others
By Technology:
Trapped Ions
Quantum Annealing
Superconducting Qubits
Others
By End-use Industry:
Banking & Finance
Space and Defense
Healthcare and Pharmaceuticals
Chemicals
Energy and Power
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
ROLA
Rest of the World
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Here is an overview of the different factual statements covered by the study:
- The learn about consists of an area that breaks down strategic traits for the primary gamers in present and upcoming R&D, new product launches, collaborations, regional expansion, and mergers & acquisitions.
- The lookup focuses on essential market traits such as revenue, product cost, potential and utilization rates, import/export rates, supply/demand figures, market share and CAGR.
- The learn about is a series of analyzed records and a variety of barrels of house bought via a mixture of analytical equipment and an inside look up process.
- The Market can be divided into 4 areas in accordance to the regional breakdown: North American Markets, European Markets, Asian Markets and Rest of the World.
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