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, Toshiba Corporation, D-Wave Systems Inc.

Quantum Computing Market Snapshot:

Global Quantum Computing Market is expected to grow at a steady growth during the forecast period 2019-2026, Quantum Computing Market report offers insights into the latest trends. 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.

Current advancements in quantum computing offer growth potential for imaginative concepts to concrete computing options for several enterprises through public and private initiatives. With advancing research in quantum computing, leading companies plan to make quantum hardware and software available for purchase. On the other hand, some organizations are working to provide a cloud-based computing platform and software applications to end-users. 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.

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.

With quantum computing, it has become possible to compare larger molecules, which can be beneficial for pharmaceutical advancement and holds the potential to save the development time and money required for bringing drugs to the market. Several applications are possible once development in the research of quantum computing reaches its final stages. Automotive, transportation and logistics, machine learning, and teleportation are among the key sectors expected to benefit.
In December 2017, DENSO Corporation and Toyota Tsusho Corporation announced plans to test a quantum computer for processing data from a traffic IoT platform. This technology can be helpful in the future if vehicles and mobility systems need to process large amounts of data in real-time. The test conducted for commercial vehicles in Thailand collected and analyzed location information through cloud-based quantum computer devices developed by the Canada-based D-Wave Systems Inc.

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The Major Prominent 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.

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, Others

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. India is one of the largest producers of Quantum Computing and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Quantum Computing. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

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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

Key Quantum Computing Market Trends:
- The report identifies, determines, and forecasts the Global Quantum Computing Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Quantum Computing Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Quantum Computing Market.

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