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Global Quantum Computing Market to Grow at a CAGR of 28.8% During 2021-2026, Aided by the Rapid Technological Advancements

Quantum Computing Market

Global Quantum Computing Market: By Offering: System, Services; By Application: By Application: Optimisation, Simulation, Machine Learning, Others; By End Use; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Quantum Computing Market Outlook

The global quantum computing market stood at a value of around USD 652.46 million in 2022. The market is further expected to grow at a CAGR of 28.8% in the forecast period of 2023-2028 to attain a value of approximately USD 2,982.78 million by 2028.

 

Global Quantum Computing Market

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Increasing Adoption of Quantum Computing as a Services (QCaaS) to Bolster the Growth of the Quantum Computing Industry

Based on offering, the services segment is likely to hold a significant share in the market. This can be attributed to the growing adoption of quantum computing as a service (QCaaS) in healthcare and pharmaceuticals, chemicals, defence, and banking, among other sectors. Quantum computer are fast and effective and can perform calculations in seconds. Therefore, they are used extensively for speeding up the processes in these industries, especially BFSI.

Meanwhile, the increasing utilisation of this technology in optimisation, simulation, and machine learning applications in various end use industries to achieve optimum utilisation cost has been aiding the market. Over the forecast period, the expansion of network quantum information technologies (NQIT) is likely to enhance the incorporation of optimisation solutions for resolving problems that come up during the practical applications of quantum computing.

 

Increasing Penetration of Quantum Computing in the BFSI Sector to Aid the Market Growth

The BFSI, on the basis of end use, accounted for a significant share in the market and is likely to grow at a considerable rate in the forecast period. This growth can be attributed to the early adoption of quantum computing technology in the banking and finance sector due to the potential computational power of quantum computers. In the finance sector, quantum computing is crucial for solving critical problems in areas like cybersecurity to safeguard customers’ financial data. Financial data of customers encoded with quantum cryptography is far more secure than current levels of digital security. This factor is expected to further aid the market growth over the forecast period. Meanwhile, the healthcare and pharmaceutical segment is likely to witness a robust growth in the forecast period owing to the global outbreak of the COVID-19 pandemic. Quantum computing in healthcare bolsters the health plans by accelerating diagnosis, personalising medicine, and optimising prices. It can provide the patients with fast and reliable diagnosis options.

 

The Asia Pacific Accounts for a Major Share in the Market

The emergence of small, medium, and large enterprises in the region is likely to propel the demand for quantum computing in the forecast period. The Asia Pacific is a leading hub for several industries like pharmaceuticals, and chemicals, among others. Therefore, the technological advancements in these sectors are expected to foster the demand for quantum computing. The market in the region will further be aided by the expansion of leading technology companies in countries like India and China.

 

Quantum Computing: Market Segmentation

Quantum computing is defined as the branch of computing which focusses on developing the computer technology based on the principles of quantum theory. It is the exploitation of collective properties of quantum states, such as superposition and entanglement to perform computation.

 

Global Quantum Computing Market by Segment

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Based on offering, the market is divided into:

  • System
  • Services

The significant applications of the product include:

  • Optimisation
  • Simulation
  • Machine Learning
  • Others

The various end uses of the product include:

  • Healthcare and Pharmaceuticals
  • Chemicals
  • Defence
  • BFSI
  • Energy and Power
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Quantum Computing Market by Region

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Increasing Demand in Various End Use Sectors and the Rapid Technological Advancements to Boost the Growth of the Quantum Computing Industry

The global quantum computing industry is driven by the increasing demand in various end use sectors such as defence, BFSI, and others. The market growth is supported by the rapid technological advancements and the growing reliance of various industries on advanced computing technology to solve complex problems that today's most powerful supercomputers cannot solve. The thriving sectors in emerging economies, including health and pharmaceuticals, chemicals, and energy and power, among others are significantly contributing to the growth of the industry. Over the forecast period, the rising investments by the government in quantum computing technology to develop advanced solutions and expand their knowledge base related to quantum computing are likely to provide further impetus to the market growth.

 

Key Industry Players in the Global Quantum Computing Market

The report gives a detailed analysis of the following key players in the global quantum computing market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Microsoft Corporation
  • IBM Corporation
  • Intel Corporation
  • Google Inc.
  • D-Wave Systems Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Offering, Application, End Use, Regions
Breakup by Offering System, Services
Breakup by Application Optimisation, Simulation, Machine Learning, Others
Breakup by End Use Healthcare and Pharmaceuticals, Chemicals, Defence, BFSI, Energy and Power, Others
Breakup by Regions North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT Analysis, Porter’s Five Forces Analysis, EMR’s Key Indicators for Demand and Price
Competitive Landscape Market Structure, Company Profiles-Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Microsoft Corporation,  IBM Corporation, Intel Corporation, Google Inc., D-Wave Systems Inc., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Quantum Computing Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Quantum Computing Historical Market (2018-2022) 
    8.3    Global Quantum Computing Market Forecast (2023-2028)
    8.4    Global Quantum Computing Market by Offering
        8.4.1    System
            8.4.1.1    Historical Trend (2018-2022)
            8.4.1.2    Forecast Trend (2023-2028)
        8.4.2    Services
            8.4.2.1    Historical Trend (2018-2022)
            8.4.2.2    Forecast Trend (2023-2028)
    8.5    Global Quantum Computing Market by Application
        8.5.1    Optimisation
            8.5.1.1    Historical Trend (2018-2022)
            8.5.1.2    Forecast Trend (2023-2028)
        8.5.2    Simulation
            8.5.2.1    Historical Trend (2018-2022)
            8.5.2.2    Forecast Trend (2023-2028)
        8.5.3    Machine Learning
            8.5.3.1    Historical Trend (2018-2022)
            8.5.3.2    Forecast Trend (2023-2028)
        8.5.4    Others
    8.6    Global Quantum Computing Market by End Use
        8.6.1    Healthcare and Pharmaceuticals
            8.6.1.1    Historical Trend (2018-2022)
            8.6.1.2    Forecast Trend (2023-2028)
        8.6.2    Chemicals
            8.6.2.1    Historical Trend (2018-2022)
            8.6.2.2    Forecast Trend (2023-2028)
        8.6.3    Defence
            8.6.3.1    Historical Trend (2018-2022)
            8.6.3.2    Forecast Trend (2023-2028)
        8.6.4    BFSI
            8.6.4.1    Historical Trend (2018-2022)
            8.6.4.2    Forecast Trend (2023-2028)
        8.6.5    Energy and Power
            8.6.5.1    Historical Trend (2018-2022)
            8.6.5.2    Forecast Trend (2023-2028)
        8.6.6    Others    
    8.7    Global Quantum Computing Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2022) 
            8.7.1.2    Forecast Trend (2023-2028)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2022) 
            8.7.2.2    Forecast Trend (2023-2028)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2022) 
            8.7.3.2    Forecast Trend (2023-2028)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2022) 
            8.7.4.2    Forecast Trend (2023-2028)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2022) 
            8.7.5.2    Forecast Trend (2023-2028)
9    North America Quantum Computing Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2022) 
        9.1.2    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Historical Trend (2018-2022) 
        9.2.2    Forecast Trend (2023-2028)
10    Europe Quantum Computing Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2022) 
        10.1.2    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Historical Trend (2018-2022) 
        10.2.2    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Historical Trend (2018-2022) 
        10.3.2    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Historical Trend (2018-2022) 
        10.4.2    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Quantum Computing Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2022) 
        11.1.2    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Historical Trend (2018-2022) 
        11.2.2    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Historical Trend (2018-2022) 
        11.3.2    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2022) 
        11.4.2    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Historical Trend (2018-2022) 
        11.5.2    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Quantum Computing Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2022) 
        12.1.2    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2022) 
        12.2.2    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2022) 
        12.3.2    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Quantum Computing Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2022) 
        13.1.2    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2022) 
        13.2.2    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2022) 
        13.3.2    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2022) 
        13.4.2    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1     Microsoft Corporation
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    IBM Corporation
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Intel Corporation
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Google Inc.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    D-Wave Systems Inc.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Quantum Computing Market: Key Industry Highlights, 2018 and 2028
2.    Global Quantum Computing Historical Market: Breakup by Offering (USD Million), 2018-2022
3.    Global Quantum Computing Market Forecast: Breakup by Offering (USD Million), 2023-2028
4.    Global Quantum Computing Historical Market: Breakup by Application (USD Million), 2018-2022
5.    Global Quantum Computing Market Forecast: Breakup by Application (USD Million), 2023-2028
6.    Global Quantum Computing Historical Market: Breakup by End Use (USD Million), 2018-2022
7.    Global Quantum Computing Market Forecast: Breakup by End Use (USD Million), 2023-2028
8.    Global Quantum Computing Historical Market: Breakup by Region (USD Million), 2018-2022
9.    Global Quantum Computing Market Forecast: Breakup by Region (USD Million), 2023-2028
10.    North America Quantum Computing Historical Market: Breakup by Country (USD Million), 2018-2022
11.    North America Quantum Computing Market Forecast: Breakup by Country (USD Million), 2023-2028
12.    Europe Quantum Computing Historical Market: Breakup by Country (USD Million), 2018-2022
13.    Europe Quantum Computing Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Asia Pacific Quantum Computing Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Asia Pacific Quantum Computing Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Latin America Quantum Computing Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Latin America Quantum Computing Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Middle East and Africa Quantum Computing Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Middle East and Africa Quantum Computing Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Global Quantum Computing Market Structure

Key Questions Answered in the Report

What was the global quantum computing market size in 2022?

In 2022, the global quantum computing market attained a value of nearly USD 652.46 million.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 28.8% between 2023 and 2028.

What is the forecast outlook of the market for 2023-2028?

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 2,982.78 million by 2028.

What are the major regional markets of quantum computing, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major types of offering in the market?

System and services are the major types of offerings in the market.

What are the significant applications of the product?

Optimisation, simulation, and machine learning, among others are the significant applications of the product.

What are the important end use sectors of the product?

Healthcare and pharmaceuticals, chemicals, defence, BFSI, and energy and power, among others are the important end use sectors of the product.

Who are the key industry players, according to the report?

The major players in the industry are Microsoft Corporation, IBM Corporation, Intel Corporation, Google Inc., and D-Wave Systems Inc., among others.

Analyst Review

The global quantum computing market attained a value of USD 652.46 million in 2022, driven by the rising application of the product in various end use industries, adoption of QCaaS in BFSI and other sectors, and rising investments by the government towards the development of quantum computing. Aided by the increasing use of advanced technologies and the growing collaboration among key players, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 28.8%. The market is projected to reach USD 2,982.78 million by 2028.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on offering, the market is divided into system and services. The significant applications of the product include optimisation, simulation, and machine learning, among others. On the basis of end use, the market is divided into healthcare and pharmaceuticals, chemicals, defence, BFSI, and energy and power, among others. The major regional markets for quantum computing are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Microsoft Corporation, IBM Corporation, Intel Corporation, Google Inc., and D-Wave Systems Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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