Dublin, Nov. 23, 2022 (GLOBE NEWSWIRE) -- The "Global Quantum Computing Market: Analysis By Component, By Application, By Technology, By End-user, By Region Size, and Trends with Impact of COVID-19 and Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.
In 2021, the global quantum computing market was valued at US$442.32 million and is anticipated to grow to US$3295.97 million by 2027. Quantum computing is an emerging technology that leverages the laws of quantum mechanics to address problems that are too complex for traditional computers. The word "quantum" originates from the physics concept of Quantum Mechanics, which defines the physical properties of electrons and photons.
Quantum computers operate on the concept of "qubits." A qubit, also known as a quantum bit, is a fundamental unit of quantum information that is physically implemented via a two-state device. Some of the major reasons why companies are switching to quantum computing are the increasing demand for high performance computing, growing popularity of quantum mechanics in cryptography, rising use of quantum computing in drug development, etc. The quantum computing market is expected to grow at a CAGR of 39.88% over the forecast period of 2022-2027.
Market Segmentation Analysis:
- By Component: The report provides the bifurcation of the quantum computing market into three segments based on component: Hardware, Software, and Services.
- By Application: In the report, the global quantum computing market is divided into three segments based on the application: Optimization, Machine Learning, and Material Simulation.
- By Technology: The report provides the segmentation of the quantum computing market on the basis of technology: Quantum Annealing, Superconducting, Trapped Ion, Quantum Dot and Others.
- By End-User: In the report, the global quantum computing market is divided into twelve segments based on the end-user: Finance & Investment, Transportation & Logistics, Aerospace, Agriculture, Automotive, Energy, Healthcare, Information Technology, Life sciences, Manufacturing, Oil, Gas, and Mining, and Others. The agriculture quantum computing market is expected to grow at the highest CAGR.
Global Quantum Computing Market Dynamics:
Growth Drivers
- Rising Investments in Quantum Technology
- Increase in Quantum Computing Start-ups
- Growing Number of Strategic Partnerships & Collaborations
- Surging Demand for High Performance Computing (HPC)
- Growing Use of Quantum Computing in Drug Development
- Increasing Adoption of Quantum Computing in Banking Financial Services
Challenges
- High Cost of Quantum Computing Solutions
- Stability and Error-correction Issues
- Lack of Quantum Computing Talent
- Concern of Breaking Public-Key Encryption
Market Trends
- Increasing Adoption of Cloud-Based Quantum Computing
- Integration of Quantum Computing with IoT (Internet of Things)
- Popularity of Quantum Mechanics in Cryptography
- Technological Advancement in Quantum Computing
Key Players
- Amazon.Com, Inc. (Amazon Web Services, Inc.)
- Microsoft Corp. (Microsoft Azure)
- Alphabet Inc. (Google Cloud Platform)
- Alibaba Group (Alibaba Cloud)
- IBM
- Intel Corporation
- Nvidia Corporation
- Toshiba Corporation
- Rigetti Computing
- Quantum Computing Inc.
- D-Wave Systems Inc.
- Zapata Computing
- Xanadu Quantum Technologies Inc.
- QC Ware Corp.
- Ion Q
Key Topics Covered:
1. Executive Summary
2. Introduction
3. Global Market Analysis
4. Regional Market Analysis
5. Impact of COVID-19
6. Market Dynamics
7. Competitive Landscape
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/3lxugs
