The global quantum computing market is predicted to develop at a compound annual growth rate (CAGR) of roughly 31.21% between 2022 and 2030, reaching a value of approximately USD 457.9 million in 2021.
Throughout the forecast period, the study examines the global quantum computing market drivers, restraints/challenges, and opportunities. Furthermore, the study looks into regional and competitive data while also outlining certain current worldwide industry changes.
Outline of the Quantum Computing Market
Quantum computing is a computing technology based on quantum physics concepts such as entanglement, interference, and superposition. The study of quantum mechanics is a branch of physics. It is a basic theory that describes the physical attributes of living creatures, from subatomic particles to atoms. Quantum computers are devices and systems that execute quantum computations or respond to them digitally.
Although modern computers may not always beat classical computers in practical applications, scientists believe that larger systems will be able to handle extremely complex quantum physics tasks such as integer factorization. Because supercomputers cannot solve some issues, quantum computers are rapidly gaining acceptance in the worldwide science landscape, particularly at large research institutions.
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Quantum Computing Market: Segmentation
The global quantum computing market is divided into four segments: technology, industry, deployment type, application, and region.
Based on technology, the global market is divided into trapped ions, quantum dots, and quantum annealing.
The most prominent segment is predicted to be quantum annealing over the projection period (QA).
QA is used to address combinatorial optimization challenges. Quantum mechanics laws were used to estimate the energy state.
Quantum computers must operate at temperatures as low as -191.1°C.
The global market is segmented into six industries: aerospace and defence, business and financial services, healthcare, manufacturing, and energy and utilities.
By 2021, the global Banking, Financial Services, and Insurance (BFSI) market is estimated to produce more than USD 145.39 billion.
By analyzing the present financial market, quantum computing can assist the segment in making forecasts about economic changes and phenomena, making the technology incredibly beneficial to market participants.
The global market is divided into four applications: machine learning, optimization, sampling, and simulation & data problems.
Because the primary goal of any business is to optimize the results, the optimization segment currently dominates the global market, accounting for more than 61% of the segmental share.
Companies and businesses rely on the precision of all current and forecast data, which quantum computing can provide.
Quantum Computing Market: Regional Analysis
North America will continue to drive global market expansion.
North America is expected to dominate the global quantum computing market during the forecast period, with the United States serving as the majority shareholder. The availability of the infrastructure required to promote and encourage quantum computing systems is expected to drive regional growth.
The region is already far ahead of any other nation on the planet in terms of technological developments related to quantum mechanics. A supportive ecosystem, including the numerous partners required to develop such advanced technology, as well as government support, is expected to help North America generate more revenue. The National Quantum Initiative Act, which promotes quantum technology, is overseen by the US government.
Quantum Computing Market: Competitive Analysis
The global quantum computing market is led by players like
Huawei Technologies Co. Ltd.
Rigetti & Co Inc
D-Wave Systems Inc.
IBM Corporation
Microsoft Corporation
Telstra Corporation Limited
Zapata Computing Inc.
IonQ Inc.
Silicon Quantum Computing.
The global quantum computing market is segmented as follows:
By Technology
Trapped Ions
Quantum Dots
Quantum Annealing
By Offering
Service
Software
Hardware
By Industry
Aerospace & Defense
BFSI
Healthcare
Manufacturing
Energy & Utilities
By Deployment Type
Cloud-Based
On-Premises
By Application
Machine Learning
Optimization
Sampling
Simulation & Data Problems
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of the Middle East & Africa
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