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Key Players Amazon, Microsoft, IBM, Intel & More Drive Growth in $3.2 Billion Industry

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Dublin, Nov. 23, 2022 (GLOBE NEWSWIRE) — The “Global Quantum Computing Market: Analysis by Component, by Application, by Technology, by End User, by Region Size and Trends Impacted by COVID-19 and Forecast to 2027” report added ResearchAndMarkets.coms offer.

In 2021, the global quantum computing market was valued at $442.32 million and is expected to grow to $3295.97 million by 2027. Quantum computing is an emerging technology that uses the laws of quantum mechanics to address problems that are too complex are for traditional computers. The word “quantum” comes from the physical concept of quantum mechanics, which defines the physical properties of electrons and photons.

Quantum computers operate on the concept of ‘qubits’. A qubit, also known as a quantum bit, is a fundamental unit of quantum information that is physically implemented through a two-state device. Some of the major reasons why companies are moving to quantum computing are the increasing demand for high-performance computing, the growing popularity of quantum mechanics in cryptography, the increasing use of quantum computing in drug development, etc. The quantum computing market is expected to grow at a CAGR of 39.88% over the forecast period of 2022-2027.

Market Segmentation Analysis:

  • By Component: The report depicts the split of the quantum computing market into three segments based on components: hardware, software, and services.

  • By Application: In the report, the global quantum computing market is divided into three segments based on the application: optimization, machine learning, and material simulation.

  • By Technology: The report depicts the segmentation of the quantum computing market based on technology: Quantum Annealing, Superconducting, Trapped Ion, Quantum Dot and others.

  • By End User: In the report, the global quantum computing market is divided into twelve segments based on the end user: Finance & Investment, Transportation & Logistics, Aerospace, Agriculture, Automotive, Energy, Healthcare, Information Technology, Life Sciences, Manufacturing, Oil, gas and mining, and others. The agricultural quantum computing market is expected to grow at the highest CAGR.

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Global Quantum Computing Market Dynamics:

Growth Drivers

  • Rising investments in quantum technology

  • Increase in Quantum Computing Startups

  • Growing number of strategic partnerships and collaborations

  • Rising demand for High Performance Computing (HPC)

  • Increasing use of quantum computing in drug development

  • Increasing adoption of quantum computers in financial banking services

Challenges

  • High Cost of Quantum Computing Solutions

  • Stability and error correction issues

  • Lack of Quantum Computing talent

  • Concerns about breaking public key encryption

Market trends

  • Increasing adoption of cloud-based quantum computing

  • Integrating Quantum Computing with IoT (Internet of Things)

  • Popularity of Quantum Mechanics in Cryptography

  • Technological Advances in Quantum Computing

Protagonists

  • Amazon.Com, Inc. (Amazon Web Services, Inc.)

  • Microsoft Corp (Microsoft Azure)

  • Alphabet Inc. (Google Cloud platform)

  • Alibaba Group (Alibaba Cloud)

  • IBM

  • Intel Corporation

  • Nvidia Corporation

  • Toshiba Corporation

  • Rigetti Computing

  • Quantum Computing Inc.

  • D-Wave Systems Inc.

  • Zapata computers

  • Xanadu Quantum Technologies Inc.

  • QC Ware Corp.

  • Ion Q

Main topics:

1. Summary

2 Introduction

3. Global Market Analysis

4. Regional Market Analysis

5. Consequences of COVID-19

6. Market Dynamics

7. Competitive landscape

8. Company Profiles

For more information on this report visit https://www.researchandmarkets.com/r/3lxugs

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
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