Quantum Computing Market: Global Industry Analysis and Outlook 2022-2029

Quantum Computing Market size was valued at US$ 471.99 Mn. in 2021 and the total revenue is expected to grow at 30.3% through 2021 to 2029, reaching nearly US$ 3921.90 Mn.
Quantum Computing Market Overview:
Quantum computing is a form of advanced evolving computer technology that is based on quantum theory and quantum mechanics. The quantum computer has been used for quantum computing that adheres to quantum physics notions. It differs from traditional computing in terms of speed, bits, and data. Classical computing only employs two bits, 0 and 1, whereas quantum computing uses all states in between 0 and 1, resulting in superior results and faster processing. Quantum computing is most commonly used in research to compare multiple solutions and discover the best solution to a challenging problem. It has been employed in a variety of industries including chemicals, energy, healthcare, and pharmaceuticals.



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Quantum Computing Market Dynamics:
The growing demand for high-level computing performance is propelling the Quantum Computing Market forward. Expanding datacenter workloads, rising demand for Software-as-a-Service (SaaS) business models and increased complexity in processor design of traditional binary computing systems are all propelling the worldwide Quantum Computing Market forward. A regular binary computing system stores data in small transistors that each carry a single "bit" of info, such as a 0 or a 1, however, quantum computing stores and processes both a 1 and a 0 at the same time, making it significantly more potent than traditional binary computing.

The Quantum Computing Market is also projected to benefit from government investments in quantum computing technology. The underlying balance of power, military affairs, and trade dynamics could all be affected by quantum computing. Various countries aspire to enhance quantum computing research and development through boosting exploration research and the development of new technologies. Increased government funding in quantum computing solutions for a wide range of applications is expected to boost the global Quantum Computing Market.

As the number of strategic collaborations develops, the Quantum Computing Market is expected to grow. It's tough for quantum computing solution providers to specialize in practically everything in this fast-growing field. As a result, the formation of alliances or agreements is a part of the growth plan. Furthermore, in order to maintain their current market position or build new distribution channels, new application interaction characteristics are required. As a result, firms can use evolving technology to interact with or open up to business partners. Businesses are more involved in the design process as a result of these strategic collaborations.

At low temperatures, the quantum computing industry is having difficulty keeping qubits steady. Market players are eager to break through this barrier, as well as the complexities of the quantum computer chain of production.
Quantum Computing Market Segment Analysis:
Based on the Component, the global Quantum Computing market is sub-segmented into Hardware, Software, and Services. The Services segment is expected to grow at the highest CAGR of 30.2% during the forecast period. The increasing number of startups throughout the world investing in research & development connected to quantum computing technology might be attributed to the rise of this services market. This technology is utilized in optimization, simulation, and machine learning techniques, resulting in lower operating costs and more operational efficiencies in a number of industries.


Quantum Computing Market Regional Insights:
North America held the largest market share of xx% in 2021. The rise of the market can be linked to an increase in investment in research institutions specializing in quantum information science. Google, IBM, and Microsoft are the front-runners in this field, investing much in R&D.

However, Asia Pacific is expected to grow at the highest CAGR of xx% in the global quantum computing market during the forecast period. Healthcare and pharmaceuticals, banking and finance, and materials are all major businesses in the Asia Pacific area. APAC's Asia Pacific leading makers of consumer electronics, such as cellphones, laptops, and gaming consoles, are China, Japan, and South Korea. Through these fields, there is a need to tackle issues in optimization, simulation, and machine learning applications. The rapid growth of the Asia Pacific emerging economies, as well as the greater usage of innovative technology in the manufacturing sector, is helping to propel the region's large and medium-sized businesses forward.

The objective of the report is to present a comprehensive analysis of the global Quantum Computing Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also helps in understanding the global Quantum Computing Market dynamic, structure by analyzing the market segments and project the global Quantum Computing Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Quantum Computing Market make the report investor’s guide.
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Global Quantum Computing Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 471.99 Mn.


Forecast Period 2022 to 2029 CAGR:
30.3%
Market Size in 2029:
US $ 3921.90 Mn.


 Segments Covered:
by Component
• Hardware
• Software
• Services


by Technology
• Superconducting qubits
• Trapped ion qubits
• Quantum Annealing


by Application
• Simulation
• Optimization
• Sampling


by End-User
• Defense
• Banking & Finance
• Energy & Power
• Chemicals
• Healthcare & Pharmaceuticals



Global Quantum Computing Market, by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Global Quantum Computing Market Key Players
• 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

Frequently Asked Questions:

1] What segments are covered in Quantum Computing Market report?
Ans. The segments covered in Quantum Computing Market report are based on Component, Technology, Application and End-Use.

2] Which region is expected to hold the highest share in the global Quantum Computing Market?
Ans. North America is expected to hold the highest share in the global Quantum Computing Market.

3] What is the market size of global Quantum Computing Market by 2029?
Ans. The market size of global Quantum Computing Market by 2029 is US $ 3921.90 Mn.

4] Who are the top key players in the global Quantum Computing Market?
Ans. D-Wave Systems Inc, 1QB Information Technologies Inc., QxBranch LLC, QC Ware Corp. and Research at Google-Google Inc., International Business Machines Corporation, and Lockheed Martin Corporation are the top key players in the global Quantum Computing Market.

5] What was the market size of global Quantum Computing Market in 2021?
Ans. The market size of global Quantum Computing Market in 2021 was US $ 471.99 Mn.