Enterprise Quantum Computing Market Key Trends And Strategies For Expansion 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Enterprise Quantum Computing Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The enterprise quantum computing market size has grown exponentially in recent years. It will grow from $2.98 billion in 2023 to $3.83 billion in 2024 at a compound annual growth rate (CAGR) of 28.8%. The growth in the historic period can be attributed to rise in investments in quantum computing technology, growth in the number of skilled professionals, development of a regulatory framework, increased international collaboration, increased climate challenges.

The enterprise quantum computing market size is expected to see exponential growth in the next few years. It will grow to $10.83 billion in 2028 at a compound annual growth rate (CAGR) of 29.7%. The growth in the forecast period can be attributed to rise in gaming, expansion of aerospace, demand in financial trading, demand for agricultural processes, increase in manufacturing processes. Major trends in the forecast period include subscription-based quantum computing, quantum AI integration, quantum-inspired optimization, artificial reality, blockchain integration.

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Market Drivers and Trends:

The increasing use of cloud computing is expected to propel the growth of the enterprise quantum computing market going forward. Cloud computing refers to a framework for providing ubiquitous, practical, on-demand network access to a pool of configurable computing resources that can be quickly deployed and released with no involvement from administration or service providers. The use of enterprise quantum computing allows organizations to optimize investment plans better, strengthen encryption, discover products, and do a variety of other things. Due to such benefits, there is a rise in demand for cloud computing. For instance, in December 2021, according to a report shared by Eurostat, a Luxembourg-based statistical office of the European Union, 42% of the European Union's enterprises were using cloud computing, a 6-percentage point (pp) increase from 2020. Therefore, the increasing use of cloud computing will drive the growth of the enterprise quantum computing market.

Technological advancements are the key trends gaining popularity in the enterprise quantum computing market. Major companies operating in the enterprise quantum computing market are focused on innovating new technologies to sustain their position in the market. For instance, in December 2021, Rigetti Computing, a US-based developer of quantum integrated circuits used for quantum computers, introduced its next-generation quantum system, Aspen-M. Aspen-M, the first commercial multi-chip quantum processor in the world, overcomes a significant scaling difficulty in the pursuit of fault-tolerant quantum computing. The Aspen-M processor is constructed from two 40-qubit chips and makes use of Rigetti's unique multi-chip technology. These processors enable systems that accelerate quantum computation by 2.5 times and cut readout errors by up to 50%.

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Major Key Players of the Market:

Huawei Technologies Co. Ltd., Google LLC, Microsoft Corp., Alibaba Group Holding Limited, Amazon Web Services Inc., Raytheon Corp., Lockheed Martin Corp., IBM Corporation, Deloitte Touche Tohmatsu Limited, KPMG International Cooperative, NXP Semiconductors NV., Booz Allen Hamilton Corp., Reply S.p.A, Honeywell Quantum Solutions, Quantum Technology, PsiQuantum Inc., D-Wave Systems Inc., 1QBit Information Technologies Inc., Terra Quantum AG, Zapata Computing Inc., Rigetti Computing Inc., IonQ Inc., Classiq Technologies Inc., Phasecraft Ltd., Cambridge Quantum Computing, Xanadu Quantum Technologies Inc., Aegiq Inc., QuantrolOx Ltd., QMWare Inc., Archer Materials Limited

Enterprise Quantum Computing Market 2024 Key Insights:

• The enterprise quantum computing market size is expected to see exponential growth in the next few years. It will grow to $10.83 billion in 2028 at a compound annual growth rate (CAGR) of 29.7%.
• Enterprise Quantum Computing Market Soars On The Wings Of Cloud Computing Adoption
• Rigetti Computing Unveils The World's First Commercial Multi-Chip Quantum Processor
• North America was the largest region in the enterprise quantum computing market in 2023

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