Quantum computing market is expected to grow at a CAGR of 30.2%, 2021-2031

Quantum computing market is expected to grow at a CAGR of 30.2%, 2021-2031

Douglas Insights

Douglas Insights

Key players profiled in the Global Quantum Computing Market report include D-Wave Systems Inc., International Business Machines Corporation, Google Inc., 1QB Information Technologies, Microsoft Corporation, QX Branch, Cambridge Quantum Computing Limited, QC Ware Corp., Rigetti Computing, and River Lane Research, among others.

Isle of Man, Oct. 17, 2022 (GLOBE NEWSWIRE) — Douglas Insights has analyzed various aspects of the quantum computing market and revealed the changes in the market trends owing to the increase in investments and collaborations for the development of quantum computing technologies by various governments and enterprises. Its comparison engine has generated numerous articles and research reports, allowing several experts, analysts and researchers to obtain essential information relating to the main growth drivers and restraints of the market to make forecasts and provide reports offering numerous information on the global recycling market. The digital tool effectively compares all existing research and publisher ratings, table of contents and publication dates.

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Market overview

The global quantum computing market is on an upward trend with significant growth. The market is expected to grow at 30.2% CAGR by 2026. There are various drivers in the market along with some relevant restraints. However, the overall demand and interest in quantum computing means that the next forecast period will see strong growth.

The Covid-19 pandemic has actually resulted in further growth of the quantum computing market instead of stunting the market growth as it has done with many other global markets. Post-pandemic, health and pharmaceutical spending has increased to develop medical and diagnostic tools, not only for Covid-19, but also for other diseases and conditions. These medical and diagnostic tools are enabled by quantum computing technologies, which is driving the demand for quantum computing. Quantum sensors are also used in MRI technology.

Market Growth Drivers:

The early adoption of the technology by the banking and financial sectors is one of the most important drivers of the quantum computing market. Quantum computing is used in these industries to speed up the time needed to complete transactions and process large amounts of data. Quantum computing also reduces the costs of these transactions, which generates more revenue. Another market driver is increasing investments in quantum computing by various governments across the globe. For example, the governments of China, the United States, and Australia have all supported research and development of quantum computing technology. There are also very useful partnerships between large companies like Google and Intel to carry out R&D.

Despite the high levels of market growth and all the market drivers, there are still a few constraints to consider. Quantum computing technology is still in the very early stages of its life, despite so much ongoing research. The technology still has a long way to go before it is fully stable, efficient, and error-free. Currently, quantum computers use physical qubits, which can lead to miscalculations. Much work remains to be done to develop quantum computing and eliminate all errors. It is also very difficult to commercialize quantum computers because qubits require very specific conditions to operate and can be easily disturbed.

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Regarding market segmentation, Asia-Pacific region is expected to hold the largest market share in the upcoming forecast period. China, South Korea and Japan lead the region in the manufacture of electronic devices like laptops and smartphones. As a result, there is an increased demand for quantum computing in the region.

Google (US), Amazon (US), Microsoft (US), and International Business Machines (US) are some of the major market players in the quantum computing market to watch.

Quantum Computing Market Report Cover

Report attributes

Details

Market size in 2021

XX million dollars

Projection of the market size in 2031

XX million dollars

CAGR (2021-2028)

32.2%

The biggest market

North America

Growth engines

The increase in the number of health and environmentally conscious consumers, Advances in transportation networks, The increase in the number of people who need to travel for work from one state to another

Segmentation

By Type (Quantum Annealing, Quantum Simulation, Quantum Universal), By Application (Machine Learning, Optimization, Materials Simulation, Financial Services, Others), By Verticals (IT & Telecom, Healthcare & Life Sciences, Manufacturing, Aerospace & defence, energy & utilities, others)

Regional analysis

North America (US, Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Europe (UK, Germany, Italy, France, Spain, Russia and Rest of Europe) , APAC (China, Japan, India, South Korea, Australia, ASEAN and rest of Asia Pacific), ME (GCC countries, Israel and rest of Middle East) and Africa (South Africa, North Africa and Central Africa)

Key companies covered

D-Wave Systems Inc., International Business Machines Corporation, Google Inc., 1QB Information Technologies, Microsoft Corporation, QX Branch, Cambridge Quantum Computing Limited, QC Ware Corp., Rigetti Computing, and River Lane Research, among others.

Segmentation

By Deployment method

  • Introduction

  • On the site

  • Cloud-based

By technology

  • Introduction

  • Trapped ions

  • Quantum annealing

  • Superconducting qubits

  • Others

By request

  • Introduction

  • Quantum Assisted Optimization

  • Advertising/Digital Marketing

  • Supply chain optimization

  • Quantum Simulation

  • Basic search

  • quantum chemistry

  • Materials discovery and design

  • Quantum-Assisted Machine Learning

  • Quantum cryptography

By End User Industry

  • Introduction

  • Banking and finance

  • Information Technology (IT) and Telecommunications

  • Health and Pharmaceutical

  • Space and Defense

  • Energy and power

  • Transport and logistics

  • Academia

  • Government

  • Chemical products

  • Agriculture

  • Digital media/online service

  • Detail

  • Weather forecast

Key questions answered by this report

  • Analysis of the impact of COVID 19 on the global quantum computing industry.

  • What are the current market trends and dynamics in the quantum computing market and valuable opportunities for emerging players?

  • What is driving the quantum computing market?

  • What are the main challenges to market growth?

  • Which segment represents the fastest CAGR during the forecast period?

  • Which product type segment has the largest market share and why?

  • Are low- and middle-income economies investing in the quantum computing market?

  • Key growth pockets based on regions, types, applications, and end-users

  • What is the market trend and dynamics in emerging markets such as Asia-Pacific, Latin America, Middle East and Africa?

Unique data points in this report

  • Quantum Computing Statistics and Spending Worldwide

  • Recent trends in different regions in terms of adoption of quantum computing in industries

  • Notable developments taking place in the industry

  • Attractive investment proposition for segments as well as geography

  • Comparative scenario for all segments for the years 2018 (actual) and 2031 (forecast)

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In-memory computing market : In-memory computing is a specially designed type of database that stores information in RAM rather than on disks. IMC’s lightning-fast performance enables businesses to improve performance, analyze huge amounts of real-time data at extremely high speeds, and identify patterns. It provides real-time information that enables businesses to provide faster reports and immediate responses.

mobile edge computing market : The growth of this market can be attributed to the increasing demand for low-latency processing solutions and real-time automated decision-making, as well as the growing need of enterprises to provide QOE. In addition, the emergence of autonomous vehicles and connected car infrastructure, along with new MEC application areas of augmented reality and virtual reality, provide substantial growth opportunities for the mobile computing market. peak. However, the lack of necessary infrastructure and deployment capabilities is hampering the expansion of this market to some extent.

Multi-Access Edge Computing Market : Several end-user industries, including data centers, smart cities, smart homes, smart buildings, IT and telecommunications, healthcare, automotive industry and agricultural industry have increased their use of multi-access edge computing in recent years.

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