The global quantum computing market size is expected to reach USD 8,487.60 Million in 2032 and register a steady revenue CAGR of 30.2% during the forecast period, according to latest analysis by Emergen Research. Rise in number of strategic partnerships and collaborations to carry out advancements in quantum computing technology is a major factor driving market revenue growth. For instance, Mitsui, a company committed to digital transformation and Quantinuum, one of the top quantum computing businesses in the world with hardware and software integration, have joined forces to create quantum computing use cases that will eventually significantly impact business transformation and innovation.
The Quantum Computing Market represents a revolutionary paradigm shift in the field of information technology, offering immense potential for solving complex problems that are beyond the capabilities of classical computers. Unlike traditional binary-based computing, which relies on bits to represent information as either 0 or 1, quantum computing leverages quantum bits or qubits, which can exist in multiple states simultaneously. This allows quantum computers to perform calculations at an exponentially faster rate, enabling breakthroughs in areas such as cryptography, drug discovery, optimization, and machine learning.
Drivers of Quantum Computing Market
Several factors are driving the growth of the Quantum Computing Market. Firstly, the increasing demand for processing large volumes of data generated by industries such as finance, healthcare, and logistics fuels the need for more powerful computing systems. Quantum computers have the potential to tackle complex optimization problems and simulate molecular structures with unprecedented speed and accuracy, thereby accelerating research and innovation in various sectors. Additionally, government investments and private funding in research and development initiatives aimed at advancing quantum computing technology contribute significantly to market growth. Moreover, collaborations between academia, industry, and government agencies facilitate knowledge sharing and accelerate the commercialization of quantum computing solutions.
Major Companies and Competitive Landscape
The Quantum Computing Market is fairly consolidated with a few small and medium-sized market players accounting for majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market. Some major players included in the market report are:
IBM, D-Wave Quantum Inc., Microsoft, Amazon, Inc., Rigetti & Co., LLC., Google, Intel Corporation, Toshiba, Honeywell International Inc., and QC Ware.
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Key inclusions of the Quantum Computing Market report:
COVID-19 effects on growth figures.
Statistical analysis pertaining to market size, sales volume, and overall industry revenue.
Organized mentions of major market trends.
Growth opportunities.
Figures showcasing market growth rate.
Advantages and disadvantages of direct and indirect sales channels.
Insights regarding traders, distributors, and dealers present in the industry.
Covid impact analysis:
The study on the Global Quantum Computing Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Quantum Computing Market industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Quantum Computing Market industry. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties The Quantum Computing Market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic.
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Quantum Computing Market Segment Analysis
For the purpose of this report, Emergen Research has segmented the global quantum computing market based on offering, deployment, application, technology, end-use, and region:
· Offering Outlook (Revenue, USD Million; 2019–2032)
o Systems
o Services
1. Quantum Computing as a Service (QCaaS)
2. Consulting Services
· Deployment Outlook (Revenue, USD Million; 2019–2032)
o On-Premises
o Cloud-Based
· Application Outlook (Revenue, USD Million; 2019–2032)
o Optimization
o Machine Learning (ML)
o Simulation
o Others
· Technology Outlook (Revenue, USD Million; 2019–2032)
o Superconducting Qubits
o Trapped Ions
o Quantum Annealing
o Others
· End-Use Outlook (Revenue, USD Million; 2019–2032)
o Space & Defense
o Banking & Finance
o Healthcare & Pharmaceuticals
o Energy & Power
o Chemicals
o Transportation & Logistics
o Government
o Academia
Regional Analysis of the Quantum Computing Market :
· North America (U.S., Canada)
· Europe (U.K., Italy, Germany, France, Rest of EU)
· Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Objectives of the Report:
· Analysis and estimation of the Quantum Computing Market size and share for the projected period of 2022-2030
· Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
· Strategic recommendations to help readers formulate lucrative business strategies
· Identification of the emerging players and their tactical approaches to expand market presence
· An extensive study of the product portfolios of the major market players and their regional presence
· Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Quantum Computing Market
· Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
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About Emergen Research
Emergen Research is a Market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer Market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market.
