Enterprise quantum computing market to Reach USD 18,336.45 Million by 2030| At 29.7% CAGR | Top Market Players: ID Quantique, Intel Corporation, Toshiba Corporation

The global Enterprise quantum computing market size was valued at $ 1,370.82 Million in 2020, and is projected to reach $ 18,336.45 Million by 2030, growing at a CAGR of 29.7% from 2021 to 2030.

According to a recent report published by Allied Market Research, titled, "Enterprise quantum computing Market Analysis by Component, Deployment Mode, Technology, Application and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030,"

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Covid-19 scenario:

➢ The COVID-19 outbreak has a positive impact on the growth of the Enterprise quantum computing market as Enterprise quantum computing technologies are helping enterprises to address the extensive capacity demand of data volume.

➢ The outbreak of COVID-19 has affected communities globally while governments and companies are trying their best to respond faster to the challenges posed by this pandemic.

The market is experiencing growth due to an increased demand for improved computing performance in data analysis and a surge in the utilization of simulation and modeling across various sectors such as healthcare, BFSI, and energy. Additionally, the rising requirement for secure computing platforms, the influx of substantial data volumes, and the widespread adoption of quantum computing technologies in diverse industrial sectors are further contributing to market expansion.

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The cloud segment secured the largest share in 2020, depending on the deployment mode, and is anticipated to maintain this dominance in the forecast period. This is due to the various advantages offered by cloud deployment, including a high level of data security and safety. Nevertheless, the cloud segment is poised to experience the highest growth in the coming years. The absence of a requirement for investment in IT infrastructure, as all data is stored on cloud servers, is driving increased demand for geospatial analytics software in small and medium-scale organizations.

In 2020, the on-premise segment claimed the majority share based on deployment mode and is projected to sustain this trend in the forecast period. This is attributed to the manifold benefits provided by on-premise deployment, particularly in terms of data security and safety. However, the cloud segment is expected to witness the most significant growth in the upcoming years. The appeal of cloud deployment lies in its lack of necessity for investment in IT infrastructure, as all data is stored on cloud servers, leading to an increased demand for Enterprise quantum computing software in small and medium-scale organizations.

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In 2020, the hardware segment emerged as the dominant force in the overall enterprise quantum computing industry, a trend expected to persist throughout the forecast period. This dominance is ascribed to the growing acceptance of enterprise quantum computing solutions among businesses seeking strategic advantages, competitive edges, and robust customer retention over rivals. These solutions not only save time and money but also enhance image analysis capabilities, all through a singular software application. Furthermore, providers of quantum computing services are enhancing their software solutions, broadening the scope of applications to attract a larger customer base, creating lucrative growth opportunities for the market.

Conversely, the service segment is projected to experience the most substantial growth in the enterprise quantum computing market. This growth is attributed to the role of the service segment in ensuring effective coordination between software providers and users. The services encompass implementation, training, consulting services, and managed services, contributing significantly to customer satisfaction across various industrial sectors such as BFSI, IT & telecommunication, and healthcare. This, in turn, optimizes customer needs and reduces operational costs, driving the adoption of services essential for the proper handling of the software.

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Despite these positive trends, the enterprise quantum computing market faces challenges in terms of technology. Issues related to programming quantum computers and the development of quantum algorithms are anticipated to impede market growth throughout the forecast period.

Leading Market Players

➢ Alibaba Group
➢ D-Wave Systems Inc.
➢ Google
➢ Huawei Technologies Co., Ltd.
➢ International Business Management Corporation (IBM)
➢ ID Quantique
➢ Intel Corporation
➢ Microsoft
➢ Rigetti & Co, Inc.
➢ Toshiba Research Europe Ltd.

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