Quantum Chip Global Market 2024 - Key Drivers, Growth Factors, Technological Development And Forecast To 2033

The new report published by The Business Research Company, titled ""Quantum Chip Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the quantum chip market size has grown exponentially in recent years. It will grow from $0.11 billion in 2023 to $0.15 billion in 2024 at a compound annual growth rate (CAGR) of 43.8%. The quantum chip market size is expected to see exponential growth in the next few years. It will grow to $0.66 billion in 2028 at a compound annual growth rate (CAGR) of 43.9%.

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Growing Demand For Secure Communication And Data Protection Driving Quantum Chip Market Expansion
The growing need for secure communication and data protection is expected to propel the growth of the quantum chip market going forward. Secure communication refers to protecting data while it is being transmitted, while data protection encompasses a wider range of measures to safeguard data throughout its lifecycle, including during storage, processing, and transmission. The increasing cases of cyber threats, data breaches, and the escalating value of personal and corporate information in the digital age are driving the need for secure communication and data protection. Quantum chips enhance secure communication and data protection by enabling quantum key distribution (QKD), which generates unbreakable encryption keys, and by supporting quantum-resistant encryption algorithms to safeguard sensitive information against future quantum computing threats. For instance, in January 2022, the Identity Theft Resource Center, a US-based non-profit organization, revealed that the total number of compromised data incidents in 2021 reached 1,862 incidents, marking a 68% increase from 2020. This figure set a new record, surpassing the previous all-time high by 23%, which was reported as 1,506 incidents over the previous five years. Therefore, the growing need for secure communication and data protection is driving the quantum chip market. 

Advancements In Silicon-Based Quantum Chips Driving Reliability And Scalability In Quantum Computing
Major companies operating in the quantum chip market are developing silicon chips to enhance quantum computing capabilities. Silicon chips refer to semiconductor devices made from silicon, used in electronic devices for their excellent semiconductor properties, and are now being developed to host quantum bits (qubits) in quantum computing. Silicon-based qubits offer reliability and scalability, with the potential for densely packed qubits on a single chip. For instance, in June 2023, Intel Corporation, a US-based semiconductor company, launched Tunnel Falls, a 12-qubit silicon-based chip based on silicon spin-qubit technology. Tunnel Falls is fabricated using cutting-edge 300mm wafers in the D1 fabrication facility technology. Intel asserts that silicon spin qubits excel due to their compatibility with state-of-the-art transistors.

The quantum chip market covered in this report is segmented -

1) By Type: Superconducting Quantum Chip, Semiconductor Quantum Chip, Ion Trap Quantum Chip, Other Types
2) By Application: Computer, Anti-Theft Brush, Other Applications
3) By End-User: Information Technology (IT) And Telecommunications (Telecom), Banking, Financial Services And Insurance (BFSI), Aerospace And Defense, Research And Academia, Other End-Users

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Major companies operating in the quantum chip market are Google LLC, Microsoft Corporation, Amazon Web Services Inc., Intel Corporation, International Business Machines Corporation, Honeywell International Inc., Fujitsu Limited, Thorlabs Inc., Quantum Machines, Xanadu, ID Quantique SA., ORCA Computing Limited, Quantum Motion, PsiQuantum, Rigetti & Co LLC, Atom Computing Inc., Quandela, IonQ Inc., Classiq, SeeQC Inc., D-Wave Quantum Inc., Archer Materials Limited, Silicon Quantum Computing, Qubitekk Inc., Quantum Computing Inc.

Contents of the report:
1. Executive Summary
2. Quantum Chip Market Report Structure
3. Quantum Chip Market Trends And Strategies
4. Quantum Chip Market - Macro Economic Scenario
5. Quantum Chip Market Size And Growth
…..
27. Quantum Chip Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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