Quantum computing Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Quantum computing Market By Component ( Hardware, Software, and Services), Deployment ( On-Premise, and Cloud), Application ( Machine Learning, Optimization, Biomedical Simulations, Financial Services, Electronic Material Discovery, and Others), End User (Healthcare, Banking, Financial Services and Insurance (BFSI), Automotive, Researchers, Energy and Utilities, Chemical, Manufacturing, Education, and Others Retail) and Geography

 

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Report

Description

Quantum computing Market size is expected to be valued at USD 521.2 million in 2022 and is poised to grow at a significant CAGR of 25.4% over 2022–2028. Quantum computing is a type of cutting-edge computer technology based on quantum mechanics and quantum theory. The quantum computer has been used for computing based on quantum physics concepts. It differs from traditional computing in speed, bits, and data. Classical computing employs two bits, 0 and 1, but the system uses all the numbers between 0 and 1, resulting in more accurate results and faster processing. The system is generally used to compare many solutions and identify the finest one for a complicated problem.  These quantum computing services wide range of applications such as machine learning, quantum simulation, quantum parallelism, cryptography, and algorithms. These factors are primarily driving the market growth. Furthermore, it has the potential to fasten up pharmaceutical discoveries and offers more accurate models to describe climate change and its effects, and it will influence positively the global market of quantum computing market. Quantum computer commercialization is a difficult, complex task as qubits are sensitive and easily disrupted by changes in ambient temperature, noise, and frequency, it has been intolerable to retain their quantum mechanical state for a long time. This factor is also why quantum systems are difficult to construct, test, and design.  These factors restrain the market growth to some extent over the forecasted period. Moreover, Artificial intelligence (AI) and machine learning are advanced technologies, and significant development in artificial intelligence and machine learning will surely need of computing services. Additionally, increasing investment in quantum computer systems has led to a growth in demand for computing services, consequently, this advancement and huge investment create opportunities among prominent key players in the market.

Key Developments:

In May 2021, Amazon Braket launched a new simulator known as DM1 to aid model noise in quantum hardware. Further, it permits the implementation of noise mitigation measures into a quantum program to make the results on a real quantum computer more precise.

In May 2021, Classiq and ColdQuanta combined the IBM Quantum Network. Further, both companies incorporated IBM’s open-source Qiskit quantum software development platform for use with ColdQuanta’s forthcoming 100 qubit computer “Hilbert”.

Quantum computing Market

MARKET SUMMARY
-
25.4%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 25.4%
  • Largest Market– North America
  • Fastest Growing Market– Europe

Quantum computing Market

  • The quantum computing market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The quantum computing market is segmented based on component, deployment, application, end user and geography.
Key Players
  • IBM Corporation (New York, U.S.)
  • Rigetti & Co, Inc. (California, U.S.)
  • D-Wave Systems Inc. (Burnaby, Canada)
  • Zapata Computing (Massachusetts, U.S.)
  • Cambridge Quantum Computing Ltd. (Cambridge, U.K.)
Quantum computing Market Dynamics

The global market of quantum computing is majorly driven by the rising investments in quantum computing technology by governmental bodies. Government organizations have more involvement in the worldwide space and military sectors by making a huge investment in the development of computing technology to use quantum computers to perform several optimization segments and simulation tactics. Various governmental bodies across the world are investing much in their research activities to encourage the development of computing technologies. China is making huge investments in these computing technology research and development. Computing projects are being led by the governments of the U.S., Australia, and European Union nations. This worldwide development and advancements in the computer sector surely boost the global market of quantum computing over the forecasted period.


Asia-Pacific Got Significant Share

Quantum computing Market

The Quantum computing market in the Asia Pacific is likely to hold a significant revenue share in 2021, and, in the following years, it is predicted to increase rapidly owing to increasing banking and finance, healthcare, and chemicals, which require quantum computing techniques, consequently increasing the demand of the market. Furthermore, some major countries such as Japan, China, and South Korea in this region is becoming the manufacturers of electronics, such as laptops, cellphones, and gaming, so there is a need for quantum computing technique, which further support to expand the global market of quantum computing in this region. Moreover, the region has various large and medium-sized inventiveness which undoubtedly increases the demand of the market, as increasing the need for simulation, optimization, and machine learning applications to tackle various problems. North America is expected to have rapid growth in the global market over the forecasted period owing to the primary adoption of advanced technologies and a highly competitive landscape, and the existence of various key players.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2017-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Quantum computing Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The quantum computing market is projected to expand at a CAGR of 25.4% during the forecast period

IBM Corporation (New York, U.S.), Rigetti & Co, Inc. (California, U.S.), D-Wave Systems Inc. (Burnaby, Canada), Zapata Computing (Massachusetts, U.S.), Cambridge Quantum Computing Ltd. (Cambridge, U.K.), Intel Corporation (California, U.S.), Google LLC (California, U.S.), Quantica Computacao (Tamil Nadu, India), XANADU (Toronto, Canada), Accenture Plc. (Dublin, Ireland)

 

Asia-Pacific is the fastest-growing region for quantum computing market


Report

Table Of Content

1. Executive Summary
2. Global Quantum computing Market Introduction
2.1. Global Quantum computing Market – Taxonomy
2.2. Global Quantum computing Market –Definitions
2.2.1. Component
2.2.2. Deployment
2.2.3. Application
2.2.4. Enduser
3. Global Quantum computing Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Quantum computing Market Dynamic Factors – Impact Analysis
3.6. Global Quantum computing Market – Competition Landscape
4. Global Quantum computing Market Analysis,2017 – 2021 and Forecast, 2022 – 2028
4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Quantum computing Market, By Component, 2017–2021and Forecast, 2022–2028 (Revenue, USD Mn)
5.1. Hardware
5.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Software
5.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
5.3. Services
5.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.3.3. Market Opportunity Analysis
6. Global Quantum computing Market, By Deployment, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.1. On-Premise
6.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Cloud
6.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3. Market Opportunity Analysis
7. Global Quantum computing Market Forecast, By Application, 2017–2021and Forecast, 2022–2028 (Revenue, USD Mn)
7.1. Machine Learning
7.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. Optimization
7.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. Biomedical Simulations
7.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
7.4. Financial Services
7.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.4.3. Market Opportunity Analysis
7.5. Electronic Material Discovery
7.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.5.3. Market Opportunity Analysis
7.6. Others
7.6.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.6.3. Market Opportunity Analysis
8. Global Quantum computing Market Forecast, By End User, 2017–2021and Forecast, 2022–2028 (Revenue, USD Mn)
8.1. Healthcare
8.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Banking, Financial Services and Insurance (BFSI)
8.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
8.3. Automotive
8.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.3.3. Market Opportunity Analysis
8.4. Researchers
8.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.4.3. Market Opportunity Analysis
8.5. Energy and Utilities
8.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.5.3. Market Opportunity Analysis
8.6. Chemical
8.6.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.6.3. Market Opportunity Analysis
8.7. Manufacturing
8.7.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.7.3. Market Opportunity Analysis
8.8. Education
8.8.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.8.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.8.3. Market Opportunity Analysis
8.9. Others Retail
8.9.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.9.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.9.3. Market Opportunity Analysis
9. Global Quantum computing Market Forecast, By Region, 2017–2021and Forecast, 2022–2028(Revenue, USD Mn)
9.1. North America
9.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.1.3. Market Opportunity Analysis
9.2. Europe
9.2.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.2.3. Market Opportunity Analysis
9.3. Asia-Pacific
9.3.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.3.3. Market Opportunity Analysis
9.4. Latin America
9.4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.4.3. Market Opportunity Analysis
9.5. Middle East and Africa
9.5.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.5.3. Market Opportunity Analysis
9.6. Global Quantum computing Market – Opportunity Analysis Index, By Component Type, Deployment, Application, End user, and Region, 2022 – 2028
10. North America Quantum computing market analysis,2017–2021and Forecast, 2022–2028(Revenue, USD Mn)
10.1. Component Analysis 2017–2021and Forecast 2022 – 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.1.1. Hardware
10.1.2. Software
10.1.3. Services
10.2. Deployment Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
10.2.1. On-Premise
10.2.2. Cloud
10.3. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.3.1. Machine Learning
10.3.2. Optimization
10.3.3. Biomedical Simulations
10.3.4. Financial Services
10.3.5. Electronic Material Discovery
10.3.6. Others
10.4. End User Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.4.1. Healthcare
10.4.2. Banking, Financial Services and Insurance (BFSI)
10.4.3. Automotive
10.4.4. Researchers
10.4.5. Energy and Utilities
10.4.6. Chemical
10.4.7. Manufacturing
10.4.8. Education
10.4.9. Others Retail
10.5. Country Analysis 2017 – 2021 and Forecast 2022 – 2028by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.5.1. USA
10.5.2. Canada
10.6. North America Quantum computing Market – Opportunity Analysis Index, By Component Type, Deployment, Application, End user, and Country, 2022 – 2028
10.7. North America Quantum computing Market Dynamics – Trends
11. Europe Quantum computing Market Analysis, 2017–2021and Forecast, 2022–2028(Revenue, USD Mn)
11.1. Component Analysis 2017–2021and Forecast 2022 – 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.1.1. Hardware
11.1.2. Software
11.1.3. Services
11.2. Deployment Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
11.2.1. On-Premise
11.2.2. Cloud
11.3. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.3.1. Machine Learning
11.3.2. Optimization
11.3.3. Biomedical Simulations
11.3.4. Financial Services
11.3.5. Electronic Material Discovery
11.3.6. Others
11.4. End User Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.4.1. Healthcare
11.4.2. Banking, Financial Services and Insurance (BFSI)
11.4.3. Automotive
11.4.4. Researchers
11.4.5. Energy and Utilities
11.4.6. Chemical
11.4.7. Manufacturing
11.4.8. Education
11.4.9. Others Retail
11.5. Country Analysis 2017–2021and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.5.1. Germany
11.5.2. UK
11.5.3. France
11.5.4. Spain
11.5.5. Italy
11.5.6. Russia
11.5.7. Poland
11.5.8. Rest of Europe
11.6. Europe Quantum computing Market – Opportunity Analysis Index, By Component Type, Deployment, Application, End User, and Country, 2022 – 2028
11.7. Europe Quantum computing Market Dynamics – Trends
12. Asia-Pacific Quantum computing Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
12.1. Component Analysis 2017–2021and Forecast 2022 – 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.1.1. Hardware
12.1.2. Software
12.1.3. Services
12.2. Deployment Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
12.2.1. On-Premise
12.2.2. Cloud
12.3. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.3.1. Machine Learning
12.3.2. Optimization
12.3.3. Biomedical Simulations
12.3.4. Financial Services
12.3.5. Electronic Material Discovery
12.3.6. Others
12.4. End User Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.4.1. Healthcare
12.4.2. Banking, Financial Services and Insurance (BFSI)
12.4.3. Automotive
12.4.4. Researchers
12.4.5. Energy and Utilities
12.4.6. Chemical
12.4.7. Manufacturing
12.4.8. Education
12.4.9. Others Retail
12.5. Country Analysis2017–2021and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.5.1. Japan
12.5.2. China
12.5.3. India
12.5.4. ASEAN
12.5.5. Australia & New Zealand
12.5.6. Rest of Asia-Pacific
12.6. Asia-Pacific Quantum computing Market – Opportunity Analysis Index, By Component Type, Deployment, Application, End user, and Country,2022 – 2028
12.7. Asia-Pacific Quantum computing Market Dynamics – Trends
13. Latin America Quantum computing Market Analysis,2017 – 2021 and Forecast, 2022–2028(Revenue, USD Mn)
13.1. Component Analysis 2017–2021and Forecast 2022 – 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.1.1. Hardware
13.1.2. Software
13.1.3. Services
13.2. Deployment Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
13.2.1. On-Premise
13.2.2. Cloud
13.3. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.3.1. Machine Learning
13.3.2. Optimization
13.3.3. Biomedical Simulations
13.3.4. Financial Services
13.3.5. Electronic Material Discovery
13.3.6. Others
13.4. End User Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.4.1. Healthcare
13.4.2. Banking, Financial Services and Insurance (BFSI)
13.4.3. Automotive
13.4.4. Researchers
13.4.5. Energy and Utilities
13.4.6. Chemical
13.4.7. Manufacturing
13.4.8. Education
13.4.9. Others Retail
13.5. Country Analysis 2017–2021and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Argentina
13.5.4. Rest of Latin America
13.6. Latin America Quantum computing Market – Opportunity Analysis Index, By Component Type, Deployment, Application, End user, and Country, 2022 – 2028
13.7. Latin America Quantum computing Market Dynamics – Trends
14. Middle East and Africa Quantum computing Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
14.1. Component Analysis 2017–2021and Forecast 2022 – 2028by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.1.1. Hardware
14.1.2. Software
14.1.3. Services
14.2. Deployment Type Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
14.2.1. On-Premise
14.2.2. Cloud
14.3. Application Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.3.1. Machine Learning
14.3.2. Optimization
14.3.3. Biomedical Simulations
14.3.4. Financial Services
14.3.5. Electronic Material Discovery
14.3.6. Others
14.4. End User Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.4.1. Healthcare
14.4.2. Banking, Financial Services and Insurance (BFSI)
14.4.3. Automotive
14.4.4. Researchers
14.4.5. Energy and Utilities
14.4.6. Chemical
14.4.7. Manufacturing
14.4.8. Education
14.4.9. Others Retail
14.5. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
14.5.1. Gulf Cooperation Council (GCC) Countries
14.5.2. Israel
14.5.3. South Africa
14.5.4. Rest of MEA
14.6. MEA Quantum computing Market – Opportunity Analysis Index, By Component Type, Deployment, Application, End user, and Country, 2022 – 2028
14.7. MEA Quantum computing Market Dynamics – Trends
15. Competition Landscape
15.1. Strategic Dashboard of Top Market Players
15.2. Company Profiles (Introduction, Financial Analysis, Component Type, Deployment, & Service Testing Types, Key Developments, Strategies, and SWOT Analysis)
15.2.1. IBM Corporation (New York, U.S.)
15.2.2. Rigetti & Co, Inc. (California, U.S.)
15.2.3. D-Wave Systems Inc. (Burnaby, Canada)
15.2.4. Zapata Computing (Massachusetts, U.S.)
15.2.5. Cambridge Quantum Computing Ltd. (Cambridge, U.K.)
15.2.6. Intel Corporation (California, U.S.)
15.2.7. Google LLC (California, U.S.)
15.2.8. Quantica Computacao (Tamil Nadu, India)
15.2.9. XANADU (Toronto, Canada)
15.2.10. Accenture Plc. (Dublin, Ireland)
16. Research Methodology
17. Key Assumptions and Acronyms

Report

Company Profile

  • IBM Corporation (New York, U.S.)
  • Rigetti & Co, Inc. (California, U.S.)
  • D-Wave Systems Inc. (Burnaby, Canada)
  • Zapata Computing (Massachusetts, U.S.)
  • Cambridge Quantum Computing Ltd. (Cambridge, U.K.)
  • Intel Corporation (California, U.S.)
  • Google LLC (California, U.S.)
  • Quantica Computacao (Tamil Nadu, India)
  • XANADU (Toronto, Canada)
  • Accenture Plc. (Dublin, Ireland)

Description

Quantum computing Market size is expected to be valued at USD 521.2 million in 2022 and is poised to grow at a significant CAGR of 25.4% over 2022–2028. Quantum computing is a type of cutting-edge computer technology based on quantum mechanics and quantum theory. The quantum computer has been used for computing based on quantum physics concepts. It differs from traditional computing in speed, bits, and data. Classical computing employs two bits, 0 and 1, but the system uses all the numbers between 0 and 1, resulting in more accurate results and faster processing. The system is generally used to compare many solutions and identify the finest one for a complicated problem.  These quantum computing services wide range of applications such as machine learning, quantum simulation, quantum parallelism, cryptography, and algorithms. These factors are primarily driving the market growth. Furthermore, it has the potential to fasten up pharmaceutical discoveries and offers more accurate models to describe climate change and its effects, and it will influence positively the global market of quantum computing market. Quantum computer commercialization is a difficult, complex task as qubits are sensitive and easily disrupted by changes in ambient temperature, noise, and frequency, it has been intolerable to retain their quantum mechanical state for a long time. This factor is also why quantum systems are difficult to construct, test, and design.  These factors restrain the market growth to some extent over the forecasted period. Moreover, Artificial intelligence (AI) and machine learning are advanced technologies, and significant development in artificial intelligence and machine learning will surely need of computing services. Additionally, increasing investment in quantum computer systems has led to a growth in demand for computing services, consequently, this advancement and huge investment create opportunities among prominent key players in the market.

Key Developments:

In May 2021, Amazon Braket launched a new simulator known as DM1 to aid model noise in quantum hardware. Further, it permits the implementation of noise mitigation measures into a quantum program to make the results on a real quantum computer more precise.

In May 2021, Classiq and ColdQuanta combined the IBM Quantum Network. Further, both companies incorporated IBM’s open-source Qiskit quantum software development platform for use with ColdQuanta’s forthcoming 100 qubit computer “Hilbert”.

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