Global Quantum Computing Market Report 2022: Rising Investments in Quantum Technology Fuel Growth – ResearchAndMarkets.com

Durban–(BUSINESS WIRE)–The “Global Quantum Computing Market: Analysis by Segment, by Application, by Technology, by End User, by Region Size, and Trends with Impact of COVID-19 and Forecast to 2027” report added ResearchAndMarkets.com’s a donation.

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

Quantum computers work with the concept of “qubits.” A qubit, also known as a quantum bit, is the basic unit of quantum information that is practically implemented in a two-state device. Some of the major reasons why companies are switching to quantum computing are the increasing demand for efficient 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 in the near future at a CAGR of 39.88% during the forecast period of 2022-2027.

Market Segmentation Analysis:

  • By Segment: The report provides bifurcation of the quantum computing market into three segments based on segment: Hardware, Software, and Services.

  • By Application: In the report, the global quantum computing market is segmented into three segments based on application: Development, Machine Learning, and Simulation.

  • By Technology: The report provides segmentation of the quantum computer market on the basis of technology: Quantum Annealing, Superconducting, Trapped Ion, Quantum Dot and others.

  • By End User: In the report, the global quantum computing market is segmented into twelve segments based on end user: Finance & Investment, Transportation & Logistics, Aerospace, Agriculture, Automotive, Energy, Healthcare, Information Technology, Life Sciences, Manufacturing, Oil, Gas, And mines, and so on. The quantum computing market for agriculture is expected to grow at the highest CAGR.

Global Quantum Computing Market Dynamics:

  • Growth Drivers: One of the most important factors affecting the quantum computing market potential is the growing investment in quantum technology. Governments have been investing in QC research and development in recent years, as policy makers have begun to appreciate the disruptive potential of QCs. As part of the 14th five-year plan for quantum technology (2021-2025), China has announced the most public funding to date of any country, more than double the investment by the EU and eight times the investment of the US government. In addition, the market has been growing over the past few years, due to factors such as increasing adoption of quantum computing, increasing number of strategic partnerships and collaborations, increasing demand for high-performance computing, increasing use of quantum computing in drug development. , etc.

  • Challenges: However, the market has faced some challenges in particular, the high cost of quantum computing solutions, stability and error correction problems, lack of quantum computing talent, etc. Quantum computers require special components that can be produced on a large scale. . They must be kept at near-zero operating temperatures to maximize their stability, which increases costs. The cost of building a large quantum computer with many qubits is still very expensive. The cost of qubits can exceed tens of thousands of dollars and must be supported by special electronics. The high cost of quantum computers is hampering the market expansion.

  • Trends: The market is expected to grow rapidly during the forecast period, due to various recent trends such as increasing adoption of cloud-based quantum computing, integration of quantum computing with IoT (internet of things), popularity of quantum mechanics in cryptography. , technological advances in quantum computing, etc. Quantum computing has started to move from the realm of computer science and research into something that businesses can use at work. The emergence of quantum computing in the cloud has sparked curiosity among technology consumers who are now looking for practical applications for this type of computing. Complex technology, skill limitations, lack of available resources, and cost prevent some organizations from investing in quantum computing technology. To alleviate these concerns, quantum computing vendors, select cloud service providers, and independent software vendors are offering cloud-based solutions that allow organizations to explore this technology.

Key Players

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

  • Microsoft Corp. (Microsoft Azure)

  • Alphabet Inc. (Google Cloud Platform)

  • Alibaba Group (Alibaba Cloud)

  • IBM

  • Intel Corporation

  • Company Nvidia Corporation

  • Rating of the company Toshiba Corporation

  • Rigetti Computing

  • Quantum Computing Inc.

  • Company D-Wave Systems Inc.

  • Zapata Computing

  • Company Xanadu Quantum Technologies Inc.

  • Company QC Ware Corp.

  • Ion Q

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Global Market Analysis

4. Regional Market Analysis

5. Impact of COVID-19

6. Market Power

7. The Competitive Landscape

8. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/iz7a49

Source

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