Vancouver, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The global quantum computing for enterprise market is forecast to reach a market size of USD 27,095.78 Million by 2032, with a steady reveunue growth rate, according to a current analysis by Emergen Research. Growing need for simultaneous calculation of vast data volume has been resulting in rapidly inclining demand for and deployment of these solutions, which is a major factor driving growth of the global quantum computing for the enterprise market. This trend is expected to continue to gain traction during the forecast period, thereby resulting steady increase in market size growth. In addition, rising need for optimal solutions to help to mitigate business related difficulties and improve business value is expected to further fuel growth of the global quantum computing for enterprise market during the forecast period. Growing application of quantum cryptography for digital payments is expected to fuel global quantum computing for enterprise market revenue growth during the forecast period.
Concerns regarding breaking public-key encryption by quantum computing is a primary factor expected to hamper preference, and in turn impact growth of the global quantum computing for enterprise market to a certain extent over the forecast period.
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Scope of Research
| Report Details | Outcome |
| The market size in 2019 | USD 195.9 Million |
| CAGR (2023–2032) | 47.3% |
| The revenue forecast in 2032 | USD 27,095.78 Million |
| Base year for estimation | 2019 |
| Historical data | 2016–2018 |
| Forecast period | 2023–2032 |
| Quantitative units | Volume in tons, revenue in USD Million, and CAGR from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Component, Deployment, Application, End-use, and Region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; BENELUX; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
| Key companies profiled | Google LLC, Baidu, Inc., Rigetti & Co, Inc., International Business Machines Corporation, Microsoft Corporation, Intel Corporation, Alibaba Group Holding Limited, Accenture plc, AT&T Inc., and Atos SE |
| Customization scope | 10 hours of free customization and expert consultation |
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MAJOR COMPANIES and Competitive Landscape
The quantum computing for enterprise market is fragmented, with a substantial number of large- and medium-sized players accounting for a significant share in global market revenue. Some of the top players are:
- Google LLC
- Baidu, Inc.
- Rigetti & Co, Inc.
- International Business Machines Corporation
- Microsoft Corporation
- Intel Corporation
- Alibaba Group Holding Limited
- Accenture plc
- AT&T Inc.
- Atos SE
Strategic Development
In July 2019, QxBranch, Inc. was acquired by Rigetti & Co, Inc. The acquisition will strengthen full-stack strategy of Rigetti and its capability to deliver quantum solutions, services, and algorithms.
In December 2018, Microsoft corporation announced collaborations with several start-ups that are involved in the development of solutions for quantum computing. 1QBit, Bohr Technology, Cambridge Quantum Computing, Entropica Labs, GTN, OTI Lumionics, ProteinQure, QC Ware, Qulab, QxBranch, Riverlane Research, Solid State AI, Strangeworks, and Zapata Computing are among the start-up businesses. This collaboration will allow organizations to gain exposure for greater access to advanced quantum applications, software, and libraries from Microsoft, like the Quantum Development Kit (QDK).
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Key Highlights in the Report
- Increasing adoption of hybrid quantum computing to handle complicated business challenges and computational difficulties, such as integer factorization with Rivest-Shamir-Adleman (RSA) encryption, is driving revenue growth of the hybrid quantum computing segment, which is expected to expand at a significantly high CAGR of 50.5% over the forecast period.
- Due to increasing use of quantum computing-based optimization in air traffic control and work scheduling, revenue from the optimization segment is projected to register steady growth over the forecast period.
- Growing utilization of quantum computing for drug discover is expected to result in significant high revenue growth for the healthcare segment over the forecast period.
- Due to increasing utilization of quantum computing applications in various growing industries such as healthcare, information technology, and logistics in countries in Asia Pacific, the market in the region is expected to register a significantly growth rate in terms of revenue during the forecast period.
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Emergen Research has segmented the global quantum computing for enterprise market on the basis of component, deployment, application, end-use, and region.
- Component Outlook (Revenue, USD Million; 2019–2032)
- Software
- Hardware
- Input/Output Subsystem
- Dilution Refrigerator
- Quantum Processing Unit
- Service
- Support & Maintenance
- Consulting
- Training
- Others
- Deployment Outlook (Revenue, USD Million; 2019–2032)
- Cloud-based quantum computing
- Hybrid quantum computing
- On-premises quantum computing
- Application Outlook (Revenue, USD Million; 2019–2032)
- Simulation
- Machine learning
- Optimization
- Others
- End-use Outlook (Revenue, USD Million; 2019–2032)
- Aerospace
- Agriculture
- Automotive
- Energy
- Finance
- Gaming
- Healthcare
- Information technology
- Investment
- Life Science
- Logistics
- Manufacturing
- Oil& Gas
- Telecommunication
- Transportation
- Regional Outlook (Revenue, USD Million; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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