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Quantum Computing Market Analysis 2020, Global Industry Trends, Size, Impact of COVID-19 till 2030
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The aim behind developing quantum computers is to use quantum bits, which can exist in multiple states when combined, resulting in the carrying out of multiple calculations at once. This allows quantum systems to analyze multiple streams of data simultaneously. When the application is taken into consideration, the quantum computing market is divided into machine learning, optimization, sampling, and simulation and data problems.
The optimization application held the largest share of the market during the historical period (2014–2019) and is further expected to dominate the market during the forecast period. This is because of the fact that most of the problems faced by organizations revolve around streamlining business processes, for which optimization solution is of the utmost importance.
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The machine learning division is predicted to advance at the fastest pace during the forecast period. In terms of industry, the quantum computing market is categorized into energy & utilities, banking, financial services, & insurance (BFSI), IT & telecom, aerospace & defense, healthcare, manufacturing, and others.
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