Europe Quantum Computing Market, By Systems (Single-Qubit Quantum System and Multiple-Qubit Systems), Qubits (Trapped Ion Qubits, Semiconductor Qubits and Super Conducting Qubits), Deployment Model (On Premises and Cloud), Component (Hardware, Software and Services), Application (Cryptography, Quantum Simulation, Quantum Parallelism, Machine Learning, Algorithms and Others), Logic Gates (Toffoli Gate, Hadamard Gate, Pauli Gates and Others), Vertical (Banking and Finance, Healthcare & Pharmaceuticals, Defense, Automotive, Chemicals, Utility and Others), Country (Germany, U.K., France, Italy, Spain, Switzerland, Netherlands, Belgium, Russia, Turkey, Rest of Europe) Industry Trends and Forecast to 2027
Market Analysis and Insights: Europe Quantum Computing Market
Quantum computing market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 29.1% in the forecast period of 2020 to 2027 and is expected to reach USD 395.97 million by 2027 from USD 50.70 million in 2019. Increased governments’ investments in quantum computing technology and strategic partnerships, patents registrations & acquisitions are major factors for the market growth.
Quantum computing is an advanced developing computer technology which is based on the quantum mechanics and quantum theory. The quantum computer has been used for the quantum computing which follows the concepts of quantum physics. The quantum computing is different from the classical computing in terms of speed, bits and the data. The classical computing uses two bits only named as 0 and 1, whereas the quantum computing uses all the states in between the 0 and 1, which helps in better results and high speed.
Quantum cyber security better than traditional cyber security solutions is driving the market growth. The competition in the market is getting severe as market players are expanding their presence, service and support for European market.
The quantum computing market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Europe Quantum Computing Market Scope and Market Size
Quantum computing market is segmented into six notable segments which are based on system, qubits, deployment model, component, application, logic gates and verticals. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of systems, the quantum computing market is segmented into single qubit quantum system and multi-qubit systems. In 2020, the acceptance of the multi-qubit system in the market is more due to more efficiency which it provides and more speed and addition to that multiple qubit subsystems can be connected into a much larger system by using the quantum communication channels.
- On the basis of qubits, the quantum computing market is segmented into super conducting qubits, trapped ion qubits and semiconductor qubits. In 2020, trapped ion qubits dominates the market as this quatum computer are more stable followed by superconducting qubits and semiconductor qubits. These computers produce less error rates compared to the others. These systems solve the operation among qubits very faster which becomes quite difficult to solve in the classical computers.
- On the basis of deployment model, the quantum computing market is segmented into cloud and on premise. In 2020, the acceptance of cloud is higher due to the reasons like it helps in connecting the system with the quantum processors in real time from any location with an internet connection, less cost would be required for the quantum computing as less hardware would be required.
- On the basis of component, the quantum computing market is segmented into hardware, software and services. In 2020, hardware segment is expected to dominate the market as the growing adoption of quantum computer will positively increase the demand for the hardware component. This component plays a vital role in performing the calculation on these systems. Additionally, the new technical giants are introducing the new quantum system which further increases the product line of the quantum system. Owing to this factor, there is an increase in the demand for the quantum computer in the coming future.
- On the basis of application, the quantum computing market is segmented into cryptography, machine learning, algorithms, quantum simulation, quantum parallelism and others. In 2020, the quantum cryptography dominates the market due to the growing demand of connected devices in the coming future. Moreover, the rising cyber-attacks, data breaches are other factors that propel the demand of the quantum computing in the cryptography applications.
- On the basis of logic gates, the quantum computing market is segmented into pauli gate, toffli gate, hadamard gate and others. In 2020, the Toffoli gate dominates the market as in the current scenario all the quantum computer mainly integrates with these gates. As the circuit size of these gates is very small, which means it, consumes less space in the system. Additionally, Toffoli gate generally perform the NoT operation on the targeted qubits. This gate further reduces the level of complexity that occurred while doing the operation on the multiple-control logic gates which further reduces the error rates while doing the operation over the qubits.
- On the basis of vertical, the quantum computing market is segmented into healthcare & pharmaceuticals, automotive, defense, chemicals, banking & finance, utility and others. In 2020, the defense segmented accounted the largest market share as these technologies are mainly used for faster data processing compared to the classical computers. This will in turn help these sectors to minimize the threat associated with data breaches. As cause of data breaches, the usages of these technologies in defense sector mainly uses route optimization and satellite imagery which further contributes in saving the cost associated with aircraft.
Quantum Computing Market Country Level Analysis
The quantum computing market is analysed and market size information is provided by system, qubits, deployment model, component, application, logic gates and verticals as referenced above.
The countries covered in the quantum computing market report are the Germany, U.K., France, Italy, Spain, Switzerland, Netherlands, Belgium, Russia, Turkey, and Rest of Europe.
Germany is expected to dominate the market as government is allocating more funds to bring quantum computing into the mainstream. They are also incentivizing and encouraging collaboration among startups to advance quantum computing and reap its benefits. France is dominating after Germany as the government has unveiled national strategies to push the use of quantum technologies. Bodies such as Paris Centre for quantum computing have also been setup among various scientists and physicists as to become a leader in this technology. The U.K. is dominating as big companies are gearing up for building quantum commercial computers. National quantum computing center has been formed by the government and incentives are also provided so as to boost the use of this technology commercially
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Adoption of Quantum Computing in Automotive Sector is Creating New Opportunities for Players in the Quantum Computing Market
Quantum computing market also provides you with detailed market analysis for every country growth in quantum computing industry with quantum computing sales, impact of advancement in the quantum computing and changes in regulatory scenarios with their support for the quantum computing market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Quantum Computing Market Share Analysis
Quantum computing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to quantum computing market.
The major players covered in the report are IBM Corporation, D-Wave Systems Inc., CAMBRIDGE QUANTUM COMPUTING LTD., Xanadu, Honeywell International Inc., NEC Corporation, Microsoft, Accenture, Intel Corporation, FUJITSU, 1QB Information Technologies Inc., ID Quantique, Toshiba Research Europe Ltd, QxBranch, Inc., Alphabet Inc. and Anyon Systems Inc., among other domestic and Europe players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the quantum computing market.
- In April 2019, IBM Corporation expanded quantum computing research by collaborating with universities such as Florida State University, Stony Brook University. The University of Notre Dame, Virginia Tech and the University of Tokyo will start working to IBM quantum computing systems for teaching and student research projects. Focus of this is to empower, educate and develop students in quantum ready field.Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the Quantum computing market which also provides the benefit for organisation to improve their offering for Quantum computing.
- In December 2018, Microsoft has announced the partnerships with the major start-ups which are into the development of the quantum computing solutions. The start-up companies include 1QBit, Bohr Technology, Cambridge Quantum Computing, Entropica Labs, GTN, OTI Lumionics, ProteinQure, QC Ware, Qulab, QxBranch, Riverlane Research, Solid State AI, Strangeworks, and Zapata Computing. This would benefit the companies in getting deeper access to Microsoft’s advanced quantum software, tools, and libraries such as the Quantum Development Kit (QDK).
New product development, expansion and other strategies enhance the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for quantum computing market.
Customization Available: Europe Quantum Computing Market
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