Quantum Technology Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | Huawei Technologies Co. Ltd., Samsung Electronics, Microsoft Corporation

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Quantum Technology Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $3.86 billion In 2028 At A CAGR Of 27.1% :

The quantum technology market size has grown exponentially in recent years. It will grow from $1.17 billion in 2023 to $1.48 billion in 2024 at a compound annual growth rate (CAGR) of 26.9%. The growth in the historic period can be attributed to the rise of quantum software and applications, experimental demonstrations, cross-disciplinary research, rise in cybersecurity threats, and global initiatives.

The quantum technology market size is expected to see exponential growth in the next few years. It will grow to $3.86 billion in 2028 at a compound annual growth rate (CAGR) of 27.1%. The growth in the forecast period can be attributed to breakthroughs in quantum computing, quantum-secure communication networks, quantum sensing and metrology, the growing need to secure financial transactions, and commercialization and industry adoption. Major trends in the forecast period include exponential growth in quantum computing power, advancements in quantum communication networks, quantum sensing revolution, quantum machine learning for big data analysis, and quantum cloud services.

Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=15655&type=smp

Quantum Technology Market Major Segments
The quantum technology market covered in this report is segmented -

1) By Type: Hardware, Software, Service
2)By Application: Cybersecurity, Drug Development, Financial Modeling, Artificial Intelligence, Other Applications
3) By End-User: Transport And Logistics, Banking And Finance, Aerospace And Defense, Education, Information technology (IT) And Telecommunication, Healthcare And Pharmaceuticals, Automotive, Other End-Users

Key Driver - Soaring Demand For Air Travel Fuels Growth In The Aircraft Generators Market

The rising cybercrimes and financial fraud are expected to propel the quantum technology market. Cybercrimes and financial fraud encompass a range of illegal activities conducted through digital means, including hacking, identity theft, phishing , data breaches, and fraudulent financial transactions. Financial fraud and cybercrime are rising due to growing internet usage, digitalization, strong cybersecurity, interconnectedness, and anonymity. Quantum technology has the potential to revolutionize cybersecurity and financial fraud prevention by offering secure cryptographic solutions, resilient network infrastructures, entropy-rich random number generation, privacy-preserving computation, and advanced fraud detection capabilities. For instance, in March 2023, according to the Federal Bureau of Investigation, a US-based government agency, the amount lost to investment increased by 38%, from $3.31 billion in 2022 to $4.57 billion in 2023. Furthermore, in March 2024, according to AAG IT Services, a UK-based company that provides computer support and services, cyberattacks, and breaches were reported by 32% of UK organizations in 2023; for medium-sized and large corporations, the percentages rose to 59% and 69%, respectively. Therefore, rising cybercrime and financial fraud are driving the growth of the quantum technology market.

Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=15655&type=smp

Prominent Trend - Revolutionizing Problem-Solving Through Advanced Quantum Technologies

Major companies operating in the quantum technology market are focusing on technological advancements such as quantum optimization platforms, to sustain their position in the market. Quantum optimization platforms are computing systems or software frameworks designed to solve optimization problems using quantum computing principles. For instance, in February 2024, Quantum Computing Inc., a US-based software company, launched the Dirac-3 (Dirac) entropy quantum computer (EQC). This apparatus is intended to employ nonlinear quantum optics to solve complicated problems with more variables that call for unusual solutions. This unique feature broadens the application of quantum technology beyond the current market's available quantum computing devices that employ quantum bits (qubits) and the larger class of optimization problems. The Dirac system operates at room temperature, can be installed on-site, and requires no extra infrastructure for daily use.

Quantum Technology Market Players
Major companies operating in the quantum technology market are Huawei Technologies Co. Ltd., Samsung Electronics, Microsoft Corporation, Dell Technologies Inc., Amazon Web Services, Hitachi Ltd., Siemens AG, Raytheon Technologies Corporation, Lockheed Martin Corporation, General Electric Company (GE), Intel Corporation, Airbus SE, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Mitsubishi Electric Corporation, Honeywell International Inc., Fujitsu Limited, Nokia Corporation, BAE Systems plc, Toshiba Corporation, NEC Corporation, Thales Group, Quantum Computing Inc.

View The Full Report Here - https://www.thebusinessresearchcompany.com/report/quantum-technology-global-market-report

Largest And Fastest Growing Region In The Market
North America was the largest region in the quantum technology market in 2023. The regions covered in the quantum technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Quantum Technology Market Report Structure
3. Quantum Technology Market Trends And Strategies
4. Quantum Technology Market - Macro Economic Scenario
5. Quantum Technology Market Size And Growth
…..
27. Quantum Technology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ "

Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.