Quantum Computing Market - Global Industry Size, Share, Trends, Opportunities, and Forecast 2018-2028, Segmented By Component (Hardware, Software, Services), By Deployment (On-premises and Cloud-based), By Application (Machine Learning, Optimization, Biomedical Simulations, Financial Services, Electronic Material Discovery, and Others), By End User (Healthcare, BFSI, Automotive, Researchers, Energ
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationQuantum Computing Market - Global Industry Size, Share, Trends, Opportunities, and Forecast 2018-2028, Segmented By Component (Hardware, Software, Services), By Deployment (On-premises and Cloud-based), By Application (Machine Learning, Optimization, Biomedical Simulations, Financial Services, Electronic Material Discovery, and Others), By End User (Healthcare, BFSI, Automotive, Researchers, Energ
Quantum computing is an area of study focused on the development of computer-based technologies centred around the principles of quantum theory. It explains the behaviour and nature of energy and matter on quantum. The behaviour of energy and matter at the atomic and subatomic levels is explained by quantum theory. Quantum bits or qubits are the basic unit of information in quantum computing. Qubits use superposition to be in multiple states at one time.
Rising Number of Collaborations
For instance, IBM has announced a variety of partnerships with academic and business institutions to identify the real-world uses for this knowledge. Additionally, the University of Waterloo, Princeton University, and the Massachusetts Institute of Technology are collaborating on the development of quantum computer prototypes.
Technological Advancement
Information processing and storage have been revolutionised by quantum computing. It greatly enhances the effective algorithms. The fifth generation of computers is being developed due to the rapid evolution of the quantum computing environment. As regular computing continues to advance, so does research into quantum computing. It caused the classical computing industry to switch over to quantum simulation approaches. Quantum computers may overcome constraints that classical computers face, allowing them to solve complicated problems and exhibit superposition and entanglement features. The computing power of quantum computers is significantly increased by superimposing many qubits on top of one another. Moreover, the speed required by researchers to imitate all aspects of chemistry is currently provided by quantum computers, which makes them substantially more predicative and decreases the need for laboratory testing.
Rising investments in quantum computing technology
For instance, the Netherlands unveiled their national strategy in 2019 to advance the field of quantum computing. The country will have a budget of around USD 113 million under this initiative called Quantum Delta NL, for both new investments, for new action lines and current activities.
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Market Segments
Global quantum computing Market is segmented by component, deployment, application, end-user, and by region. Based on component, the market is segmented into Hardware, Software and Service. Based on Deployment, the market is segmented into on-premises and cloud-based. Based on Application, the market is segmented into machine learning, optimization, biomedical simulations, financial services, electronic material discovery and others. Based on end user, the market is further segmented into healthcare, BFSI, automotive, researchers, energy & utilities, chemical, manufacturing and others.
Market Players
Recent Developments
- InJanuary 2022, Quantinuum Inc. partnered with JSR Corporation to researchapplication of quantum computing in semiconductor research.
- InJanuary 2020, IBM partnered with Daimler AG to enhance the capacity andincrease the charging speed of batteries of electric vehicles. These businesses modelledthe dipole moment of molecules containing lithium using a quantum computer,paving the door for the creation of the next-generation lithium-sulfurbatteries.
- InJanuary 2022, Germany-based polymer manufacturer Covestro announced a 5-yearcollaboration agreement with San Francisco-based quantum computing softwaredeveloper QC Ware. These companies will work to the develop quantum computingalgorithms that can improve Covestro’s manufacturing processes and materials.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2022 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report coverage | Revenue forecast, company share, growth factors, and trends |
| Segments covered | · By Component · By Deployment · By Application · By End-User · By Region |
| Regional scope | North America, Asia Pacific, Europe, MEA, South America |
| Country scope | United States; Canada; Mexico; China; Indian; Japan; South Korea; Australia; Germany; United Kingdom; France; Netherlands; Sweden; Saudi Arabia; South Africa; UAE; Turkey; Israel; Brazil; Colombia; Argentina; |
| Key companies profiled | International Business Machines Corporation (IBM), D-Wave Systems Inc., Amazon.com, Inc., Rigetti Computing Inc., Google LLC, Intel Corporation, Toshiba Corporation, Honeywell International Inc., QC Ware Corporation, 1QB Information Technologies, Inc. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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