Quantum Computing Market Growth Factors, Types And Application By Regions by 2030

Quantum Computing Market size was valued at USD 801.19 Million in 2023 and the total Quantum Computing revenue is expected to grow at a CAGR of 30.56% from 2024 to 2030, reaching nearly USD 3976.14 Million by 2030.

Quantum Computing Market Report Scope and Research Methodology

The comprehensive analysis report offers valuable insights into the dynamics, trends, and future prospects of the Quantum Computing industry during the forecast period. It covers key market drivers, challenges, and recent developments, along with demand trends, growth stimulators, spending patterns, and modernization trends across different regions.

The research is based on extensive research and analysis, incorporating inputs from industry experts, government agencies, and market participants, providing a reliable and accurate assessment of the market dynamics and future trends.

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What are Quantum Computing Market Dynamics?

Record-breaking investments in quantum technology, together with advancements in bridging the talent gap, serve as significant drivers for the quantum computing market growth.

The rise of the Quantum Computing Market is being driven by a number of reasons, including increased government funding and the presence of big tech companies such as Google and IBM. For example, Google and IBM's significant investment in a top Japanese institution, in collaboration with the institution of Chicago, will inject USD 100 billion over ten years, developing young talent and emphasising the importance of pioneering university research. Breakthroughs in qubit stability from businesses such as Rigetti and IonQ considerably improve processor reliability, influencing quantum system dependability and propelling the Quantum Computing Market.

Quantum Computing Market Segmentation?

By Component

Hardware
Software
Services

In terms of components, the hardware sector dominated the quantum computing market in 2023 for qubit processing. Quantum computers require complex infrastructure and developments to handle a larger number of qubits while remaining stable, which limits their rapid scalability. While the Software segment of the Quantum Computing market is rapidly increasing, focusing on algorithms such as Shor's and Grover's for a wide range of applications, it faces hurdles in optimisation and adaption for practical use in sectors such as cryptography and optimisation. Quantum computing services such as consultancy, maintenance, and training help enterprises navigate this complicated technology.

By Technology

Superconducting qubits
Trapped ion qubits
Quantum Annealing

Based on technology, superconducting qubits dominated the Quantum Computing industry with a significant market share because to their scalability potential, but they have stability and error rate challenges as they scale up, limiting their broad usage. While trapped ion qubits are an emerging section in the Quantum Computing industry noted for their coherence and precision, they suffer scalability and control issues with interactions between qubits, restricting their immediate expansion. Quantum annealing, which focuses on optimisation problems, is useful in certain sectors such as logistics and finance, but it has limitations for solving broader computing problems. Each method has distinct advantages and disadvantages; superconducting qubits strive for scalability, trapped ion qubits prioritise coherence, and quantum annealing excels in optimisation. The acceptance and advancement of these technologies remain critical for the quantum computing landscape.

By Application

Simulation
Optimization
Sampling

By End-User

Defense
Banking & Finance
Energy & Power
Chemicals
Healthcare & Pharmaceuticals

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Who are Quantum Computing Market Key Players?

Major Contributors in the Quantum Computing Industry in North America
1. IBM, Armonk, New York, USA
2. D-Wave Systems, British Columbia, Canada
3. Rigetti Computing, Berkeley, California, USA
4. Google Quantum AI Lab, California, USA
5. Honeywell Quantum Solutions, Charlotte, North Carolina, USA
Leading Players in the Quantum Computing Market in Europe
1. Airbus Quantum Computing, Ottobrunn, Germany
2. IQM, Espoo, Finland
3. PsiQuantum, Palo Alto, California, USA
4. Atos Quantum , Bezons, France
5. Qilimanjaro Quantum Tech, Lisbon, Portugal
Key Players Driving the Quantum Computing Market in Asia Pacific
1. Alibaba Quantum Lab Hangzhou, China
2. Toshiba Quantum Solutions, Tokyo, Japan
3. Quantum Benchmark Kitchener, Ontario, Canada
4. Xanadu, Toronto, Ontario, Canada
5. QuantumCTek Hefei, China
Major Players Shaping the Quantum Computing Landscape in Middle East & Africa
1. Qilimanjaro Quantum Tech, Johannesburg, South Africa
2. Quantum Benchmark, Cape Town, South Africa
3. Entanglement Partners, Johannesburg, South Africa
4. Atos Quantum Johannesburg, South Africa
5. IQM, Abu Dhabi, United Arab Emirates
Quantum Computing Market Pioneers in South America
1. IBM Quantum, Sao Paulo, Brazil
2. D-Wave Systems,São Paulo, Brazil
3. Entanglement Partners, Santiago, Chile
4. Toshiba Quantum Solutions, Sao Paulo, Brazil
5. Atos Quantum Buenos Aires, Argentina

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Table of content for the Quantum Computing Market includes:

Part 01: Executive Summary
Part 02: Scope of the Quantum Computing Market Report
Part 03: Global Quantum Computing Market Landscape
Part 04: Global Quantum Computing Market Sizing
Part 05: Global Quantum Computing Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis

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Regional Insights:

The global Quantum Computing market encompasses regions like North America, Asia Pacific, Europe, Middle East and Africa, and South America. Each region plays a significant role in shaping the market. For instance, the North America Military Land Vehicle Market is experiencing a rise in demand for electric vehicles, driven by the adoption of electric and zero-emission vehicles for the non-tactical fleet of the U.S. military. The Asia Pacific region, on the other hand, is witnessing strong investments in Quantum Computing to bolster military capabilities.

Key Offerings:

Past Market Size and Competitive Landscape (2021-2024)
Past Pricing and price curve by region (2021-2024)
Market Size, Share, Size & Forecast by different segment | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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