Quantum Computing Market Size, Trends, Latest Insights, Analysis and Forecast 2024-2031

Global quantum computing market is anticipated to grow at a considerable CAGR of 30.6% during the forecast period. Governments and companies around the world are investing heavily in quantum computing research and development. This is helping to accelerate the development of quantum computers and related technologies. Quantum computers are expected to be much faster than traditional computers for certain types of tasks. This could lead to breakthroughs in fields such as drug discovery, materials science, and financial modeling. Quantum computers could be used to develop new encryption algorithms that are more secure than existing algorithms. This could help to protect sensitive data from cyberattacks. Quantum computers could be used to develop new artificial intelligence algorithms that are more powerful and efficient than existing algorithms. This could lead to advances in areas such as self-driving cars and natural language processing.

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In 2022, the United States government committed $1.8 billion to quantum computing research and development. This is the largest single investment in quantum computing by any government to date. Behind many quantum technology start-ups are technical breakthroughs, and 2022 saw several notable ones. A few examples include the awarding of the Nobel prize in physics to pioneering researchers in quantum entanglement, a company that presented a quantum processor with hundreds of quantum bits (qubits) and a road map to build one with thousands of qubits by 2025, and another company that demonstrated quantum advantage in a sampling problem using its photonic quantum computer. In addition to government investment, private companies are also investing heavily in quantum computing. For example, Google has invested over $1 billion in quantum computing research, and Microsoft has invested over $500 million.

Global Quantum Computing Market Report Segment

By Technology

Superconducting Qubits
Trapped Ion Qubits
Photonic Qubits
Other

By Application

Artificial Intelligence
Cybersecurity
Climate Change and Weather Forecasting
Cryptography
Drug discovery
Materials science
Financial modeling
Other

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Company Profiles

Alibaba Group Holding Ltd.
Alpine Quantum Technologies GmbH
Amazon Web Services, Inc.
Atom Computing
Baidu, Inc.
CIQTEK
ColdQuanta
D-Wave Systems Inc.
Diraq Pty. Ltd.
eleQtron GmbH
Fujitsu Ltd.
Hitachi, Ltd.

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