Global Quantum Computing Market
Report Highlights
Global Quantum Computing Market
By Application (Optimization, Sampling, Simulation), Component (Software, Hardware, Services), Vertical (Banking & finance, Energy & power, Defense, Healthcare & pharmaceuticals, Chemicals), and Regional Market Size, Status and Forecast to 2025
Market Overview:
The Global Quantum Computing Market was valued at USD 89.35 million in 2016 and is projected to reach USD 948.82 million by 2025, growing at a CAGR of 30.02% from 2017 to 2025.
Quantum computing is the area of study focused on developing computer technology based on the principles of quantum theory, which explains the nature and behavior of energy and matter on the quantum level. Quantum computing can be used in various fields such as machine learning, computational chemistry, financial portfolio optimization, logistics and scheduling, cyber security, code breaking, weather forecasting, artificial intelligence , molecular modeling providing many benefits in these sector.
Market Dynamics:
1. Market Drivers
1.1 Increasing use of quantum cryptography to secure mobile transactions
1.2 Increasing incidences of cybercrime
1.3 Increasing adoption of quantum computing in the defense and automotive industry
1.4 High investments by government in the market
1.5 Rise in adoption of quantum computing in drug discovery
2. Market Restraints
2.1 Lack of technical expertise
2.2 Availability of alternative technology
2.3 Poor acceptance for new technology
Market Segmentation:
The Global Quantum Computing Market is segmented on the application, component, vertical, and region.
1. Application:
1.1 Optimization
1.2 Sampling
1.3 Simulation
2. By Component:
2.1 Software
2.2 Hardware
2.3 Services
3. By Vertical:
3.1 Banking & finance
3.2 Energy & power
3.3 Defense
3.4 Healthcare & pharmaceuticals
3.5 Chemicals
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. QC Ware Corp.
2. D-Wave Systems Inc.
3. Cambridge Quantum Computing Ltd
4. IBM Corporation
5. Magiq Technologies Inc.
6. Qxbranch, LLC
7. Research at Google – Google Inc.
8. Rigetti Computing
9. Station Q - Microsoft Corporation
10. 1qb Information Technologies Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Quantum Computing Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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