Europe Quantum Computing Market, By System (Single Qubit Quantum System, Multiple Qubit System), Qubits (Trapped Ion Qubits, Semiconductor Qubits and Super Conducting), Offering (Systems, Services), Deployment Model (On-Premises, Cloud), Component (Hardware, Software and Services), Application (Cryptography, Simulation, Parallelism, Machine Learning, Algorithms, Others), Logic Gates (Toffoli Gate, Hadamard Gate, Pauli Logic Gates and Others), Verticals (Banking And Finance, Healthcare and Pharmaceuticals, Defense, Automotive, Chemical, Utilities, Others) – Industry Trends and Forecast to 2030.
Europe Quantum Computing Market Analysis and Size
Quantum computing can shift through large numbers of possibilities and abstract potential solutions to complex challenges and problems. Quantum computing is a rapidly-evolving technology that harnesses the rules of quantum mechanics to solve problems too difficult for classical computers. Moreover, increasing demand for Software-as-a-Service (SaaS) business models, expanding datacentre workloads, and augmented complication in processor design of traditional binary computing systems are all driving quantum computing market forward.
Data Bridge Market Research analyses that the quantum computing market was valued at USD 110.36 million in 2022 and is expected to reach the value of USD 878.32 million by 2030, at a CAGR of 29.60% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Europe Quantum Computing Market Scope and Segmentation
2023 to 2030
2021 (Customizable to 2015 - 2020)
Revenue in USD Million, Volumes in Units, Pricing in USD
System (Single Qubit Quantum System, Multiple Qubit System), Qubits (Trapped Ion Qubits, Semiconductor Qubits and Super Conducting), Offering (Systems, Services), Deployment Model (On-Premises, Cloud), Component (Hardware, Software and Services), Application (Cryptography, Simulation, Parallelism, Machine Learning, Algorithms, Others), Logic Gates (Toffoli Gate, Hadamard Gate, Pauli Logic Gates and Others), Verticals (Banking And Finance, Healthcare and Pharmaceuticals, Defense, Automotive, Chemical, Utilities, Others)
Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe
Market Players Covered
Honeywell International, Inc. (U.S.), Accenture (Ireland), Fujitsu (Japan), Rigetti & Co, Inc. (U.S.), 1QB Information Technologies, Inc. (Canada), IonQ (U.S.), Atom Computing, Inc. (U.S.), ID Quantique (Switzerland), QuintessenceLabs (Australia), Toshiba Research Europe Ltd. (U.K.), Microsoft (U.S.), Magiq Technologies, Inc. (U.S.), NEC Corporation (Japan), Anyon System Inc. (Canada), CAMBRIDGE QUANTUM COMPUTING LTD (U.K.), QCWare (U.S.), and Intel Corporation (U.S.), among others
Quantum computing is an area of study which is mainly focused on the growth of the computer based technologies centered on the principles of quantum theory. Quantum theory clarifies the behaviour and nature of matter and energy on the quantum level. Quantum computing usages a combination of bits to perform particular computational tasks. All of these have higher efficiency than their classical equivalents.
Europe Quantum Computing Market Dynamics
- Increasing involvement of machine learning
Quantum machine learning includes the integration of quantum algorithms in machine learning programs. In the situation of complicated models, it becomes very tough to sort several variables systematically. Therefore, users can choose for quantum computing technology to resolve this complexity with speed and accuracy. For instance, the sampling method is used to evaluate numerical quantities from a large data collection in the Monte Carlo method. Quantum algorithms can be used to upsurge the execution speed of a solution, whereas algorithms can reduce the computational time and increase the application of the Monte Carlo method. Thus, machine learning is anticipated to witness highest growth during the forecast period.
- Widespread application of quantum computing
The global quantum computing market is observing substantial traction owing to the widespread applications in the defense and aerospace sector for space exploration verification, aerodynamic performance simulation and critical modeling. Moreover, growing implementations of quantum computers and machine learning to detect recurring patterns drive the growth of the market exponentially. Increasing quantum computing market demand from various sectors such as automotive, BFSI, and defense fosters the growth of the market.
- Rising number of collaborations
Quantum computing technology is still in its beginning. The growth of scalable quantum computers needs committed market players who improve quantum computing, develop practical applications and build a future quantum workforce. Numerous companies such as IBM, Google and Intel work with universities in different nations to conduct research and development activities related to technology of quantum computers. Thus, growing collaboration and partnership strategies are anticipated to create lucrative opportunities for the quantum computing market in the upcoming years.
- Increasing strategic alliances and government investments
Governments make huge investments in quantum computing technologies to increase its adoption. For instance, the German Federal Ministry of Education and Research offered USD 50.3 million in December 2021, to fund the Ion Trap Computer development. This factor may increase the adoption of computing solution. Moreover, increasing strategic alliances may boost the growth of better-quality computing solutions and generate various opportunities for the market growth.
- Complexities in quantum computing implementation
The quantum computing market faces some basic intellectual challenges. Complication in quantum computing implementations is a main factor that is restricting the growth of the quantum computing market. Furthermore, quantum entanglement and compatibility issues during network communication challenge the market growth rate.
This quantum computing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the quantum computing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Quantum Computing Market
The outbreak of COVID-19 has positively affected the quantum computing market due to increasing digitization in numerous industries. Moreover, major companies from several industries have adopted recent technologies to ease the work process and simplify their business operations. Also, the companies implemented recent technologies to adopt work from home or remote work culture. These aspects boosted the market expansion and growth during the pandemic.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
- In April 2019, IBM Corporation collaborated with universities such as Stony Brook University, Florida State University for extended quantum computing research. The University of Tokyo and the University of Notre Dame, Virginia Tech will start working to IBM quantum computing systems for student research projects and teaching. joint ventures, collaboration and other strategies by the market player are increasing the company portfolio in the quantum computing market and also benefit an organization to expand their offering for quantum computing.
Europe Quantum Computing Market Scope
The quantum computing market is segmented based on the system, qubits, offering, deployment model, component, application, logic gates and verticals. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Single Qubit Quantum System
- Multiple Qubit System
- Trapped Ion Qubits
- Semiconductor Qubits
- Super Conducting
- Machine Learning
- Toffoli Gate
- Hadamard Gate
- Pauli Logic Gates
- Banking and Finance
- Healthcare and Pharmaceuticals
Quantum Computing Market Regional Analysis/Insights
The quantum computing market is analyzed and market size insights and trends are provided by country, system, qubits, offering, deployment model, component, application, logic gates and verticals as referenced above.
The countries covered in the quantum computing market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.
Germany is anticipated to dominate the Europe quantum computing market because government is allocating more funds to get quantum computing into the mainstream. They also encourage and incentivize collaboration among start-ups to develop quantum computing and reap its profits. France is dominating after Germany because the government has revealed national strategies to drive the sage of quantum technologies. The U.K. is dominating as big companies gearing up to manufacture quantum commercial computers.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Quantum computing Market Share Analysis
The 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, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to quantum computing market.
Some of the major players operating in the quantum computing market are:
- Honeywell International, Inc. (U.S.)
- Accenture (Ireland)
- Fujitsu (Japan)
- Rigetti & Co, Inc. (U.S.)
- 1QB Information Technologies, Inc. (Canada)
- IonQ (U.S.)
- Atom Computing, Inc. (U.S.)
- ID Quantique (Switzerland)
- QuintessenceLabs (Australia)
- Toshiba Research Europe Ltd. (U.K.)
- Microsoft (U.S.)
- Magiq Technologies, Inc. (U.S.)
- NEC Corporation (Japan)
- Anyon System Inc. (Canada)
- CAMBRIDGE QUANTUM COMPUTING LTD (U.K.)
- QCWare (U.S.)
- Intel Corporation (U.S.)
Research Methodology: Europe Quantum Computing Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The stage includes the obtainment of market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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