Global 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 2029
Market Analysis and Size
Quantum computing is being widely deployed in applications, such as cryptography, quantum simulation, machine learning, algorithms, and quantum parallelism. The quantum computing has gained immense popularity owing to the incorporation of artificial intelligence (AI) and machine learning (ML).
Global Quantum Computing Market was valued at USD 649.54 million in 2021 and is expected to reach USD 8,643.11 million by 2029, registering a CAGR of 38.20% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Quantum computing is an area of advanced developing computer technology study focused on the development of computer-based technologies centered on the principles of quantum theory and quantum mechanics and uses quantum computing, which is different from the classical computing in terms of speed, bits and the data.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2014- 2019)
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)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Market Players Covered
Honeywell International, Inc. (Us), Accenture (Ireland), Fujitsu (Japan), Rigetti & Co, Inc. (US), 1QB Information Technologies, Inc. (Canada), IonQ (US), Atom Computing, Inc. (US), ID Quantique (Switzerland), QuintessenceLabs (Australia), Toshiba Research Europe Ltd. (UK), Microsoft (US), Magiq Technologies, Inc. (US), NEC Corporation (Japan), Anyon System Inc. (Canada), CAMBRIDGE QUANTUM COMPUTING LTD (UK), QCWare (US), and Intel Corporation (US), among others
Quantum Computing Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Coronavirus Emergency
The surge in demand for quantum technology, especially during coronavirus emergency as it provides exponential speed for amplified optimization and vital calculations, is the major factor driving market growth within the forecast period.
- Usage of Quantum Computing in Various Sectors
The usage of quantum computing in defense, healthcare and pharmaceuticals research, chemicals, utilities and various other sectors will further aggravate the market value, lack of awareness of quantum technology and unskilled employees act as a restraint for the market.
- Integration with Advanced Technologies
The integration with big data analytics and cloud computing to offer enhanced services to various industries further influence the market. The research and development (R&D) activities improve hardware and software processing solutions for deep learning.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the quantum computing market.
Furthermore, technological advancements in quantum computing extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, surge in adoption of quantum computing technology for drug discovery will further expand the market.
On the other hand, stability and error correction issues, and physical challenges related to use of quantum computers are expected to obstruct market growth. Also, dearth of highly skilled professionals is projected to challenge the quantum computing market in the forecast period of 2022-2029.
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 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.
COVID-19 Impact on Quantum Computing Market
The COVID-19 had a negative impact on the quantum computing market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand quantum computing technology. The supply chain got hampered during the pandemic along with delay logistics activities. However, the quantum computing market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.
Global Quantum Computing Market Scope and Market Size
The quantum computing market is segmented on the basis of system, qubits, offering, deployment model, component, application, logic gates and verticals. The growth amongst these segments will help you analyze meager 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 analysed and market size insights and trends are provided by country, system, qubits, offering, deployment model, component, application, logic gates and verticals as referred above.
The countries covered in the quantum computing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the quantum computing market because of high investments for introducing cutting-edge technology and usage in defence, healthcare and pharmaceuticals research, chemicals, utilities and various other sectors during the forecast period.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 because of the rising urbanization and industrialization within the region.
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 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
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 quantum computing market are
- Honeywell International, Inc. (US)
- Accenture (Ireland)
- Fujitsu (Japan)
- Rigetti & Co, Inc. (US)
- 1QB Information Technologies, Inc. (Canada)
- IonQ (US)
- Atom Computing, Inc. (US)
- ID Quantique (Switzerland)
- QuintessenceLabs (Australia)
- Toshiba Research Europe Ltd. (UK)
- Microsoft (US)
- Magiq Technologies, Inc. (US)
- NEC Corporation (Japan)
- Anyon System Inc. (Canada)
- CAMBRIDGE QUANTUM COMPUTING LTD (UK)
- QCWare (US)
- Intel Corporation (US)
Research Methodology: Global Quantum Computing Market
Data collection and base year analysis is done using data collection modules with large sample sizes. 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 can drop down your enquiry.
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, 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.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.