Global Quantum Computing Market – Industry Trends and Forecast to 2030

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 2030.

Quantum Computing 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).

Data Bridge Market Research analyses that the global quantum computing market which was USD 897.66 million in 2022, is expected to reach USD 11,9461.37 million by 2030, and is expected to undergo a CAGR of 38.2% during the forecast period of 2023 to 2030 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.

Quantum Computing Market Scope and Segmentation

Market Definition

Quantum computing is an area of advanced developing computer technology study focused on the development of computer-based technologies cantered 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.

Global Quantum Computing Market Dynamics

Drivers

• 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 2023-2030.

• 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.

Opportunity

• Technological Advancements in Quantum Computing

A rapidly developing technology, quantum computing has the potential to completely alter how we approach challenging computer issues. Recent developments in quantum computing have made important progress in this direction. More resilient qubits that are resistant to environmental noise and coherence, which can result in computation errors, have been the subject of recent research. Additionally, more accurate error correcting methods have been devised, enabling quantum computers to carry out more sophisticated calculations.

Restraint/Challenge

• High Cost Associated with Quantum Computing

High expense remains a huge roadblock or a challenge for quantum computing. Quantum hardware is expensive. Also, supply chains are complex, vulnerable and expensive to establish and maintain. Dealing with these expenses and finding investments to offset these costs will likely be a standard duty of institutional scientists and commercial entrepreneurs for the foreseeable future.

This global 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 global 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.

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.

Recent Development

• In September 2021, Accenture and IonQ announced the strategic collaboration to accelerate quantum computing business experimentation in organizations globally and across industries. Accenture’s experience and skills in quantum, coupled with its ability to design and create customized industry solutions tailored to IonQ’s quantum computing technology, will help more companies innovate and become quantum ready.

Global Quantum Computing Market Scope

The global 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.

System

• Single Qubit Quantum System
• Multiple Qubit System

Qubits

• Trapped Ion Qubits
• Semiconductor Qubits
• Super Conducting

Offering

• Systems
• Services

Deployment Model

• On-Premises
• Cloud

Component

• Hardware
• Software
• Services

Application

• Cryptography
• Simulation
• Parallelism
• Machine Learning
• Algorithms
• Others

Logic Gates

• Toffoli Gate
• Hadamard Gate
• Pauli Logic Gates
• Others

Verticals

• Banking and Finance
• Healthcare and Pharmaceuticals
• Defense
• Automotive
• Chemical
• Utilities
• Others

Global Quantum Computing Market Regional Analysis/Insights

The global 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 global 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 global 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 2023-2030.

Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2023-2030 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 impact the current and future trends of the market. Data points like downstream 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 the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Quantum Computing Market Share Analysis

The global 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, and application dominance. The above data points provided are only related to the companies' focus related to global quantum computing market.

Some of the major players operating in quantum computing mark global 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.)