Pune, India, April 19, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, Quantum Computing Market size is growing at over 30% CAGR from 2021 to 2028. Growing product demand across various applications, burgeoning necessity to solve complex problems, and ever-increasing data generation which needs to be processed are the key actors fueling global quantum computing market.
Apart from this, the research literature highlights historic as well as current statistics pertaining to growth rate, revenue amassed, and future outlook. A comprehensive segmental analysis as well as an overview of competitive landscape of the industry are also provided so that the readers can enjoy an edge in terms of understanding market behavior and gather maximum profits.
Notably, quantum computers are faster at processing humongous data than traditional computers, thereby making them a viable option across different sectors. Increased government expenditure on quantum computing solutions is stimulating the industry expansion as well.
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Despite the positive industry outlook, concerns associated with high energy consumption, and lack of technical expertise may inhibit the growth trajectory of the market in the upcoming years.
Segmental overview: -
From the application perspective, the sampling sub-segment is anticipated to record a CAGR of 25% during the assessment timeframe, attributable to widespread product uptake in sampling services.
Speaking of end user scope, the government sub-segment captured a market share of around 5% in 2020 and is expected to witness an upward trend in the forthcoming years, creditable to proliferation of quantum computing solutions in the sector.
Meanwhile, the energy sector is expected to progress at a notable CAGR of 25% during the forecast timeline, owing to penetration of quantum computing in oil & gas production.
Regional outlook analysis: -
From a regional frame of reference, Latin America is a major contributor to the overall industry share, progressing at a CAGR of 30% through 2028, on the back of increasing infrastructural expansion in the region.
On the other hand, Middle East & Africa quantum computing market is likely to amass a substantial valuation and record a CAGR of 30% in the foreseeable future, attributable to surging government expenditure in the field.
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Competitive framework summary: -
The competitive terrain of this industry is majorly influenced by key players such as Amazon Web Services Inc., Google LLC, Cambridge Quantum Computing Company, Qbit Technologies Inc., Microsoft Corporation, International Business Machines Corporation (IBM), Rigetti Computing, D-Wave Systems Inc., Xanadu Quantum Technologies, and Q-CTRL among others.
These companies are undertaking various partnership deals, acquisitions and mergers, while directing efforts to improve their production capacity to maintain a strong foothold over market dynamics.
For instance, in October 2021, Amazon Web Services Inc., a cloud computing giant, agreed to be partner with California Institute of Technology to expand its operations and build a new center for quantum computing in California with the aim to revolutionize machine learning, sustainability practices, data security, and drug development among others.
Quantum Computing Market, by Component (Value, USD Million, 2017-2028)
- Service
- Software
Quantum Computing Market, by Application (Value, USD Million, 2017-2028)
- Sampling
- Optimization
- Machine Learning
- Simulation
- Others
Quantum Computing Market, by Deployment Model (Value, USD Million, 2017-2028)
- On- premises
- Cloud
Quantum Computing Market, by End -User (Value, USD Million, 2017-2028)
- Healthcare
- Chemical
- Government
- Energy
- Aerospace & Defense
- Automotive
- BFSI
- Others
Quantum Computing Market, by Region (Value, USD Million, 2017-2028)
North America
- United States
- Canada
Europe
- Germany
- Spain
- France
- Russia
- United Kingdom
Asia Pacific
- India
- China
- Japan
- South Korea
Latin America
- Argentina
- Mexico
- Brazil
Middle East & Africa
- United Arab Emirates
- Saudi Arabia
- South Africa
Quantum Computing Market, Company Profiles (Value, USD Million, 2017-2028)
- Amazon Web Services Inc.
- Google LLC
- Cambridge Quantum Computing Company
- Qbit Technologies Inc.
- Microsoft Corporation
- International Business Machines Corporation (IBM)
- Rigetti Computing
- D-Wave Systems Inc.
- Xanadu Quantum Technologies
- Q-CTRL
- Honeywell International Inc.
- VeriQloud
- Riverlane
- QC Ware Corporation
- Fujitsu Ltd.
- Accenture plc
- Huawei Technologies Co. Ltd.
- Quantum Circuits Inc.
- Zapata Computing Inc.
- 1QB Information Technologies Inc.
Table of Content:
Chapter 1 Methodology & Scope
1.1 Scope & definitions
1.2 Methodology and forecast parameters
1.3 Region wise COVID-19 parameters
1.3.1 North America
1.3.2 Europe
1.3.3 Asia Pacific
1.3.4 Latin America
1.3.5 MEA
1.4 Data Sources
1.4.1 Secondary
1.4.2 Primary
Chapter 2 Executive Summary
2.1 Quantum computing industry 360 degree synopsis, 2017 - 2028
2.2 Business trends
2.3 Regional trends
2.4 Component trends
2.5 Deployment model trends
2.6 Application trends
2.7 End-User trends
Chapter 3 Quantum Computing Industry Insights
3.1 Introduction
3.2 Industry segmentation
3.3 Impact of COVID-19 outbreak
3.3.1 Global outlook
3.3.2 Regional outlook
3.3.2.1 North America
3.3.2.2 Europe
3.3.2.3 Asia Pacific
3.3.2.4 Latin America
3.3.2.5 Middle East & Africa
3.3.3 Industry value chain
3.3.4 Competitive landscape
3.3.4.1 Strategy
3.3.4.2 Distribution network
3.3.4.3 Business growth
3.4 Industry ecosystem analysis
3.5 Technological & innovation landscape
3.6 Regulatory landscape
Chapter 4 Competitive Landscape,
4.1 Introduction
4.2 Competitive market share, 2020
4.3 Competitive analysis of key market players
4.3.1 IBM Corporation
4.3.2 D-Wave Systems
4.3.3 Qbit
4.3.4 AWS
4.3.5 Microsoft
4.3.6 Google LLC
4.4 Competitive analysis of other prominent vendors
4.4.1 Rigetti Computing
4.4.2 Q-ctrl
4.4.3 Xanadu
4.4.4 Cambridge Computing
4.5 Vendor adoption matrix
Chapter 5 Quantum Computing Market, By Component
5.1 Quantum computing market share, by component, 2020 & 2028
5.2 Software
5.2.1 Market estimate and forecast, 2017 - 2028
5.3 Service
5.3.1 Market estimate and forecast, 2017 - 2028
Chapter 6 Quantum Computing Market, By Deployment Model
6.1 Quantum computing market share, by deployment model, 2020 & 2028
6.2 Cloud
6.2.1 Market estimate and forecast, 2017 - 2028
6.3 On-premise
6.3.1 Market estimate and forecast, 2017 - 2028
Chapter 7 Quantum Computing Market, By Application
7.1 Quantum computing market share, by application, 2020 & 2028
7.2 Optimization
7.2.1 Market estimate and forecast, 2017 - 2028
7.3 Simulation
7.3.1 Market estimate and forecast, 2017 - 2028
7.4 Machine Learning
7.4.1 Market estimate and forecast, 2017 - 2028
7.5 Sampling
7.5.1 Market estimate and forecast, 2017 - 2028
7.6 Others
7.6.1 Market estimate and forecast, 2017 - 2028
Chapter 8 Quantum Computing Market, By End-User
8.1 Quantum computing market share, by end-user, 2020 & 2028
8.2 BFSI
8.2.1 Market estimate and forecast, 2017 - 2028
8.3 Automotive
8.3.1 Market estimate and forecast, 2017 - 2028
8.4 Aerospace & defense
8.4.1 Market estimate and forecast, 2017 - 2028
8.5 Healthcare
8.5.1 Market estimate and forecast, 2017 - 2028
8.6 Government
8.6.1 Market estimate and forecast, 2017 - 2028
8.7 Energy
8.7.1 Market estimate and forecast, 2017 - 2028
8.8 Chemicals
8.8.1 Market estimate and forecast, 2017 - 2028
8.9 Others
8.9.1 Market estimate and forecast, 2017 - 2028
Chapter 9 Quantum Computing Market, By Region
Related Report:
Global Quantum Computing Market Insight, Competition and Forecast (2020-2025)
The Global Quantum Computing Market, valued at USD 101.12 Million in the year 2019 has been witnessing unprecedented growth in the last few years on the back of need for secure communication and digitization. Quantum Computing is the use of quantum-mechanical phenomena, and it promises to address problems that conventional computing solutions cannot handle. Increasing need for secure communication and digitization and race to make Quantum computer commercially feasible among the leading countries is one of the major reasons behind the increasing Quantum Computing market globally. Additionally, emergence of advance applications, need for secure communication and digitization is likely to supplement the Quantum Computing market value in the near future. The North American market is expected to lead the global market in the forecast period because of intensive investment on research and development of Quantum computers. Additionally, support by government and race for quantum supremacy is expected to infuse market growth tremendously. Additionally, the major involvement of technology leaders such as IBM Corporation, Google, and Intel will be fuelling the growth of Quantum computing market.
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