Quantum Computing Market 2019 – Latest Technological Advancement, Detailed Analysis of Current and Post-COVID-19 Scenario, SWOT Analysis Forecasts by 2026 | Cambridge Quantum Computing Ltd, Nokia Bell Labs

In quantum computing, operations use qubit, a quantum state of an object. A qubit is an undefined state of an object before it has been detected, such as the spin of an electron or the polarization of a photon. Classical computers carry out logical operations using binary, which are operations are based on one of two positions. A single state represented by 1 or 0 is called a bit. On the other hand, a quantum computer requires holding an object in a superposition state long enough to carry out various processes on it.

Growth in quantum computers could spur the development of new breakthroughs in science, medications to save lives, machine learning methods to diagnose illnesses, materials to make more efficient devices and structures, financial strategies, and algorithms to quickly direct resources such as ambulances. In light of the benefits of technology, the global quantum computing market is anticipated to witness significant growth during the forecast period.

Software plays a key role in providing the finest results for addressing various aspects, including applications and programming, execution and run-time, and architecture design of quantum computing. As per the Quantum Computing Institute of Oak Ridge National Laboratory, the software was one of the leading obstacles in previous execution models as it was a simple approach for run-time compilation with fast and reliable operations. Furthermore, various start-up companies and research institutions such as 1QBit, QxBranch, and QCWare are bridging the gap between experimental researches and large enterprises.
However, their manufacturing is extremely challenging due to hardware-specific properties and requirements. For instance, D-Wave Systems Inc., one of the manufacturers of commercial adiabatic quantum computers, has estimated that its next-generation quantum computer would have a speed of 2000 qubits. Apart from D-Wave, other leading players such as Google, MIT Lincoln Laboratory, and Intelligence Advanced Research Projects Activity (IARPA) are dealing with hardware devices for quantum computing.

Quantum technologies are likely to work with several existing technologies, intermixed with policies of national governments, and international agreements to enhance or weaken peace, stability, and economic developments. Moreover, in some cases, regulations may become essential for addressing risks where governments will play a crucial role in leading research in the right direction. For instance, Networked Quantum Information Technologies (NQIT), one of the four-quantum computing research hubs, is funded by the U.K. government for National Quantum Technologies Programme, which is worth around USD 324 million.

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The Major Players Covered in this Report: Cambridge Quantum Computing Ltd, Nokia Bell Labs, Toshiba Corporation, D-Wave Systems Inc., IonQ, Inc., QxBranch Inc., Rigetti & Co, Inc., Alibaba Group Holding Limited, QuantumCTek Co., Ltd., Anhui Qasky Quantum Technology Co. Ltd., Huawei Technologies Co., Ltd., Baidu, Inc., and Qubitekk Inc. are among the key players operating in the global quantum computing market., & More...

By Type, Software, Hardware
By Verticals, Defense, Healthcare and Pharmaceuticals, Chemicals, Banking and Finance, Energy and Power, Others
By Distribution Channel, Hospital Pharmacies, Retail Pharmacies, Convenience Stores, E-Commerce platforms, Other

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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Quantum Computing in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Quantum Computing market during the forecast period 2019-2026. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region.

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The European Union and the U.K. have developed national strategies and programs aimed at accelerating research on quantum computing technologies.

The Institute for Defense Analyses (IDA) has estimated that the European Union spent USD 361 million per year on quantum science and technology research during 2013–2015
True Positive Technologies, an entity that provides investment strategies for institutional investors with the use of machine learning, has been working on a quantum computer since 2014 for its product optimization and simulations

Quantum Computing Market: Recent Developments:
In 2018, the Canadian government awarded USD 15 million from the annual budget to the Institute for Quantum Computing (IQC) for the study and understanding of quantum revolution opportunities

In July 2018, Canada and Germany’s research and private sector organizations signed a Memorandum of Understanding (MOU) to jointly establish corresponding Canadian and German quantum computing and machine learning networks for collaborating on applied quantum computing and machine learning initiatives of mutual interest

In 2018, the Japanese banks MUFG Bank, Ltd. and Mizuho Bank, Ltd. joined a new IBM Q Hub at Keio University for access to the Q's commercial 20 Qubit System via the cloud for research and development on future applications for quantum computing in the financial sector

In 2017, QxBranch launched a quantum computing simulator for the Commonwealth Bank of Australia (CBA). The simulator allows business leaders, developers, and quantitative analysts to explore and validate uses of quantum computing hardware

In October 2018, Cambridge Quantum Computing (CQC) announced a collaboration with JSR Corporation for the extensive experiment of implementing state-of-the-art quantum algorithms for calculating excited states of molecules that can consider multi-reference characteristics. However, CQC and JSR are the part of IBM Q that are constantly working on implementing CQC’s quantum chemistry
application with IBM’s 20 qubit quantum processor

In January 2019, ExxonMobil signed a partnership agreement with IBM for advancement in the potential use of quantum computing in developing next-generation energy and manufacturing technologies. Development in quantum computing could provide an ability to address computationally challenging problems across a variety of applications such as the potential to optimize a regional power grid and perform more predictive environmental modeling

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