Enterprise Quantum Computing Market Surges to USD 18,336.45 Million by 2026 with a 29.7% CAGR (2021-2030)

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,"

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.

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Increase in demand for enhanced computing performance for data analysis and rise in usage of simulation & modeling in healthcare, BFSI, and energy sector drive the market growth. In addition, rise in need for secure computing platforms, the influx of huge amounts of data, and the increase in adoption of quantum computing technologies by numerous industrial sectors are also expected to drive the market growth.

However, several technological challenges associated with programming quantum computers, and developing the quantum algorithms are expected to hamper the growth of the enterprise quantum computing market during the forecast period.

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Competitive Analysis:
The competitive environment of Enterprise Quantum Computing Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, Enterprise Quantum Computing Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key 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 and Many More

Region wise, the Enterprise quantum computing market was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the coming years.

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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.

However, from the last quarter of 2019, COVID-19 pandemic created an unbalanced health situation, with stringent restriction to maintain social distancing and lockdown implemented across world. Thus, with a major aim to contain this pandemic, majority of the economies have enforced completed shutdown, thereby leading to decline in business operations. Sectors such as manufacturing and transportation have been severely impacted, worsening the business scenario and resulting colossal monetary and employment losses. However, this pandemic has elevated the growth for the enterprise quantum computing market, and is expected to exhibit two fold increase during the forecast period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.