Quantum Computing Market worth $5.55 billion by 2030, growing at a CAGR of 23.91% - Exclusive Report by 360iResearch

The "Quantum Computing Market by Technology (Quantum Annealing, Superconducting Qubits, Topological and Photonic), Deployment (Cloud-Based, On Premise), Offering, End-Use, Application - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Quantum Computing Market to grow from USD 1.23 billion in 2023 to USD 5.55 billion by 2030, at a CAGR of 23.91%.

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Quantum computing is an advanced area of computation that leverages the principles of quantum theory and quantum mechanics, which explains the behavior of energy and material on the quantum level. Unlike classical computers, which use bits as the basic unit of information, quantum computers use quantum bits or qubits. These qubits can simultaneously represent and store information in a quantum state, encompassing the dual '0' and '1' states through a superposition phenomenon. Additionally, qubits can be interconnected through quantum entanglement, which permits instantaneous correlation of states between qubits, regardless of physical distance. The increasing adoption of quantum mechanics and computing in the finance and banking sector and a rise in investments in quantum technology are expected to create lucrative market growth. Significant advancements in quantum hardware have been made, including developing more stable and reliable qubits, improving error correction techniques, and scaling up quantum processors that contributed to the market adoption. These advancements have led to the creation of more powerful and practical quantum computers, driving interest and investments in the technology. However, the limited availability of skilled professionals and the high cost associated with implementing and maintaining quantum computers may be significant challenges key companies face. International competition and collaboration in quantum research are anticipated to accelerate the growth of the quantum computing market in the forecasted period.

The Americas is at the forefront of quantum computing technology, with significant public and private investments. The United States government has allocated substantial funding for quantum research through initiatives that have seen the rise of startups and established corporations investing in quantum computing, reflecting a robust market demand for the quantum advantage in industries ranging from finance to pharmaceuticals. Consumers in this region have shown high interest in emerging technologies, indicating a promising market for quantum computing applications. At the same time, the European Union (EU) is actively endorsing quantum computing through research programs and initiatives aimed to facilitate the development of quantum technologies and stimulate consumer awareness. The EU's emphasis on privacy and security, coupled with investments in quantum research, underscores potential consumer demand for quantum cryptography and computing services within the region. Moreover, the Asia-Pacific region is rapidly emerging as a significant player in quantum computing, driven by substantial public and private investments. Governments across the region are launching initiatives and funding research programs to gain a competitive edge in this cutting-edge technology, recognizing its potential to revolutionize cybersecurity, finance, and pharmaceuticals. Key economies such as China, Japan, and South Korea are spearheading developments, with China making notable advancements in quantum communication and encryption. Corporate investments and partnerships fuel innovation, with tech giants and startups striving to build practical quantum computers and develop quantum applications.

Market Segmentation & Coverage:

This research report categorizes the Quantum Computing Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Technology, market is studied across Quantum Annealing, Superconducting Qubits, Topological and Photonic, and Trapped Ions. The Superconducting Qubits commanded largest market share of 23.88% in 2023, followed by Topological and Photonic.

Based on Deployment, market is studied across Cloud-Based and On Premise. The Cloud-Based commanded largest market share of 60.41% in 2023, followed by On Premise.

Based on Offering, market is studied across Consulting, Quantum Computing as a Service (QCaaS), Services, and Systems. The Systems commanded largest market share of 28.31% in 2023, followed by Consulting.

Based on End-Use, market is studied across Banking & Finance, Chemicals, Energy & Power, Healthcare & Pharmaceuticals, and Space & Defense. The Banking & Finance commanded largest market share of 25.46% in 2023, followed by Space & Defense.

Based on Application, market is studied across Machine Learning, Optimization, Quantum Chemistry, Quantum Finance, and Simulation. The Machine Learning commanded largest market share of 33.04% in 2023, followed by Quantum Finance.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.99% in 2023, followed by Europe, Middle East & Africa.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Quantum Computing Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Quantum Computing Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Quantum Computing Market, highlighting leading vendors and their innovative profiles. These include 1QB Information Technologies Inc., Alibaba Group Holding Limited, Amazon Web Services, Inc., Anyon Systems, Inc., Arqit Limited, Atom Computing, Inc., Atos SE, Baidu, Inc., Cisco Systems, Inc., ColdQuanta, Inc., D-Wave Systems Inc., Fujitsu Limited, Google LLC by Alphabet Inc., Honeywell International Inc., Intel Corporation, International Business Machines Corporation, IonQ Inc., ISARA Corporation, Microsoft Corporation, Nvidia Corporation, PsiQuantum, Corp., QC Ware, Quantinuum Ltd., Quantum Circuits, Inc., Quantum Corporation, Quantum Simulation Technologies, Inc., Rigetti & Co, Inc., Riverlane Ltd, Salesforce, Inc., Silicon Quantum Computing, Strangeworks Inc., Toshiba Corporation, Xanadu Quantum Technologies Inc., and Zapata Computing, Inc..

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Quantum Computing Market, by Technology
7. Quantum Computing Market, by Deployment
8. Quantum Computing Market, by Offering
9. Quantum Computing Market, by End-Use
10. Quantum Computing Market, by Application
11. Americas Quantum Computing Market
12. Asia-Pacific Quantum Computing Market
13. Europe, Middle East & Africa Quantum Computing Market
14. Competitive Landscape
15. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Quantum Computing Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Quantum Computing Market?
3. What is the competitive strategic window for opportunities in the Quantum Computing Market?
4. What are the technology trends and regulatory frameworks in the Quantum Computing Market?
5. What is the market share of the leading vendors in the Quantum Computing Market?
6. What modes and strategic moves are considered suitable for entering the Quantum Computing Market?

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