About Quantum Computing
Quantum computing, the area of study that focused on developing computer technology based on the principles of quantum theory has explains the nature and behavior of energy & matter on the quantum (atomic and subatomic) level. A Quantum computer uses the laws of quantum physics through which it can gain huge power, have the ability to be in multiple states & perform tasks with use of all possible permutations instantaneously. Quantum computations use quantum bits (qubits), that can be in multiple states at the same time, quite different from digital computing’s requirement that data be either in one state or another (0 or 1, for instance). Running a huge number of calculations in parallel opens a future where complex problems can be solved in less time on a quantum computer compared with a traditional digital device. Though quantum computing has great potential, the field is in its beginning. And it will take numerous generations of qubit increases for quantum computers to begin resolving the world’s challenges. Increasing demand for quantum computing from many end use industries including defense, healthcare & pharmaceuticals, chemicals, banking & finance, energy & power for applications such as simulation, optimization, as well as sampling is likely to boost growth of the global quantum computing market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Million) |
In January 2019, International Business Machines Corporation at the 2019 Consumer Electronics Show (CES), in Las Vegas Convention Center, United States has unveiled IBM Q System One, the world's first integrated universal approximate quantum computing system intended for scientific as well as commercial use. The company has also announced plans to open their first IBM Q Quantum Computation Center for commercial clients in Poughkeepsie, New York in 2019. IBM Q System One launch will help the company to remain comparative in the global quantum computing market over the near future. Analyst at AMA Research estimates that Canadian, United Kingdom, Japanese, and United States Players will contribute the maximum growth to Global Quantum Computing market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
International Business Machines Corporation (United States), Google LLC (United States), D-Wave Systems, Inc (Canada), Intel Corporation (United States), Microsoft Corporation (United States), 1QB Information Technologies Inc. (Canada), QxBranch, Inc. (United States), MagiQ Technologies, Inc. (United States), Rigetti Computing (United States) and QC Ware Corp. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are evolutionQ Inc. (Canada), Cambridge Quantum Computing Limited (United Kingdom), Tokyo Quantum Computing (Japan), Qubitekk (United States) and Quantum Circuits, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Quantum Computing market by , Application (Simulation, Optimization and Sampling) and Region.
On the basis of geography, the market of Quantum Computing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Industry Vertical, the sub-segment i.e. Aerospace & Defense will boost the Quantum Computing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offerings, the sub-segment i.e. Hardware will boost the Quantum Computing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers:
Increasing Incidences of Cybercrime, Growing Adoption of Quantum Computing in the Defense & Automotive Industry, Growing Investment by Government Bodies in the Market and Technological advancements in Quantum Computing
Challenges:
Requirement for Highly Skilled Workforce
Restraints:
Availability of a Substitute Technology
Opportunities:
Rising Usage of Quantum Cryptography to Protect Mobile Transactions and Growing Quantum Computing Adoption in Drug Discovery
Key Target Audience
Quantum Computing Component Manufacturers, Original Equipment Manufacturers (OEMs) Of Quantum Computers, Original Device Manufacturers (ODMs), Assembly, Testing, & Packaging Vendors, Distributors and Traders, Research Organizations and Organizations, Forums, Alliances, & Associations Related To Quantum Computing
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.