Quantum Computing Market is anticipated to surge at a CAGR of 33.7% Between (2020-2031)

Quantum Computing Market 2022-2031

As per the findings of a revised market research by Persistence Market Research, the worldwide quantum computing market reached a valuation of around US$ 5.6 Bn in 2020, and is anticipated to surge at a CAGR of 33.7% over the next ten years.

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Major companies are developing quantum computers focused on delivering free access to their quantum systems through cloud platforms, with the objective of creating awareness and a community for developers working on quantum computing technology. Through this new way of offering access, companies are targeting universities, research groups, and organizations focused on quantum computing to practice, test, and develop applications of quantum computing. 

Key Players:

The report has profiled some of the Important players prevalent in the global like - IBM Corporation, ColdQuanta, D-Wave Systems Inc., Microsoft Corporation, Google, Intel Corporation, Atom Computing, Inc, Xanadu Quantum Technologies Inc., Zapata Computing, Inc., Strangeworks, Inc., IonQ, Quantum Circuits, Inc., Huawei and more.

Key Takeaways from Market Study

The South Asia & Pacific region is expected to create lucrative growth opportunities for players in the market due to increased use of advanced technologies in the manufacturing sector.

Key players in the market are focusing on acquisitions to complement their product portfolios, so as to cater to the needs of a variety of customers. Market participants are also focusing on providing products directly to end users to improve direct customer relations.

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The market in the U.S. is projected to expand at a CAGR of 26.4% through 2031, while that in Germany at around 28%.

Major quantum computing providers are investing more in their research & development and resources with the objective to tap commercial opportunities of quantum computing in private and government sectors.

Market growth in China, Japan, and India is expected to be much higher, at CAGRS of around 36.9%, 41.8%, and 50.2%, respectively.

"Growing trend of cost-effective cloud quantum computing along with technological advancements and rising governmental investments to develop quantum computing solutions for commercial applications to propel market growth," says a Persistence Market Research analyst.

Key Stakeholders
Quantum Computing Market Manufacturers
Quantum Computing Market Distributors/Traders/Wholesalers
Quantum Computing Market Subcomponent Manufacturers
Industry Association
Downstream Vendors

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Key Questions Answered in This Report.

What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?

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This release was published on openPR.