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    Quantum Computing Market Report

    Quantum Computing Market Report
    Report code - SR1849 Delivery - 2 Weeks
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    Quantum Computing Market Size, Share, Trend, Forecast, & Industry Analysis: 2022- See more...

    Market Insights

    The Quantum Computing market is projected to grow from USD 435.4 million in 2020 to USD 2,190.1 million by 2026 at a CAGR of over 31.3% during the forecast period.

    This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the quantum computing market. The historic years considered for the study are 2016-2019, base year is 2020, estimated year is 2021, and forecast period is 2022-2026.

    Quantum Computing Market- Research Scope

    Base Year of Study

    2020

    Trend Period

    2016-2019

    Forecast Period

    2022-2026

    Estimated year

    2021

    Market Size in 2020

    USD 435.4 million

    Market Size in 2026

    USD 2,190.1 million

    Market Growth (2021-2026)

    31.3% CAGR

     

    Figure: Quantum Computing Market Size, 2020-2026 (USD Million)

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    Quantum Computing is referred to as a type of advanced developing computer technology that is primarily based on quantum theory & quantum mechanics. The quantum computer has been used for quantum computing that follows the concepts of quantum physics. It is different from classical computing in terms of bits, speed, and data.

    Key Players

    The key players operating in the quantum computing market are-

    • Qxbranch, Inc. (US)
    • QC Ware Corp. (US)
    • International Business Machines Corporation (IBM) (US)
    • D-Wave Systems Inc. (Canada)
    • 1qb Information Technologies Inc. (Canada)
    • Cambridge Quantum Computing Ltd (UK)
    • Station Q – Microsoft Corporation (US)
    • River Lane Research (UK)
    • Rigetti Computing (US)
    • Research at Google – Google Inc. (US)

    Market Dynamics

    Growing need for high-level computing performance, increasing preference for Software-as-a-Service (SaaS) business models, expanding datacenter workloads, rising complexity in processor design of classical binary computing systems are some of the key factors augmenting the need for quantum computing. A classical binary computing system stores data in tiny transistors and these transistors primarily hold a single “bit” of information such as a 0 or a 1, whereas quantum computing usually operates on a phenomenon called superposition that is more powerful than classical-quantum computing system.

    Segments Analysis

    Deployment Type Trends

    Based on deployment type, the quantum computing market has been classified into on-premise and cloud. Under these, the cloud segment held a significant market share in 2020. With the advancement of powerful systems, the demand for cloud-based deployment of quantum computing systems & services is likely to surge. This, in turn, is anticipated to lead to a major revenue source for service providers, with users paying for access to noisy intermediate-scale quantum (NISQ) systems which can solve real-world problems, thereby boosts the segment growth.

    Regional Trends

    By region, the Asia Pacific market held the highest market share in 2020 and is projected to grow at a healthy CAGR in the coming years. This is ascribed to presence of several industries, including pharmaceuticals, BFSI, and chemicals which require quantum computing to resolve complications in simulation, optimization, and machine learning applications. Japan, China, and South Korea are the major manufacturers of consumer electronics, such as laptops, smartphones, and gaming consoles, which bolsters the regional market growth during the review period.

    COVID-19 Impact on Quantum Computing Market

    The COVID-19 pandemic has positively impacted the quantum computing industry. The pandemic has augmented the adoption of digital services to maintain the business operations during lockdown. Quantum computing enables organizations to update & shift their mission-critical workloads to the cloud with the integration of AI to enhance its decision-making capabilities. Also, quantum computers were widely employed to accelerate the drug discovery & drug development by providing high speed in drug target testing, thus spurred the market growth amid the pandemic.

    Critical Questions Answered in the Report

    • What are the key trends in the quantum computing market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
    • What is the impact of COVID-19 on quantum computing market?
    • What are the key strategies adopted by the major vendors to lead in the quantum computing market?
    • What is the market share of the top vendors?

    Target Audience

    The target audience of Quantum Computing Market includes-

    • Quantum Computing companies
    • Quantum Computing distributors
    • Healthcare companies
    • Government organizations
    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The Quantum Computing market is projected to grow from USD 435.4 million in 2020 to USD 2,190.1 million by 2026 at a CAGR of over 31.3% during the forecast period.

    The key players operating in the quantum computing market are Qxbranch, Inc. (US), QC Ware Corp. (US), International Business Machines Corporation (IBM) (US), D-Wave Systems Inc. (Canada), 1qb Information Technologies Inc. (Canada), Cambridge Quantum Computing Ltd (UK), Station Q Microsoft Corporation (US), River Lane Research (UK), Rigetti Computing (US), and Research at Google Google Inc. (US).

    The target audience of Quantum Computing Market includes Quantum Computing companies, Quantum Computing distributors, Healthcare companies, Government organizations.

    Asia Pacific market held the highest market share in 2020 and is projected to grow at a healthy CAGR in the coming years.

    Growing need for high-level computing performance, increasing preference for Software-as-a-Service (SaaS) business models, expanding datacenter workloads, rising complexity in processor design of classical binary computing systems are some of the key factors augmenting the need for quantum computing.