Press release
Quantum Computing Software Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Quantum Computing Software
The rise in investments in quantum computing startups is expected to drive the growth of the quantum computing software market. Investments in quantum computing startups have been increasing due to government support and the technology's potential to disrupt multiple industries. In October 2023, FINRA reported that investments in quantum computing startups reached a record $2.35 billion in 2022, signaling growing interest and innovation. As a result, these investments are driving the growth of the quantum computing software market.
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How will the growth rate of the quantum computing software market shape industry trends by 2034?
The quantum computing software market has grown rapidly in recent years. It is projected to expand from $0.5 billion in 2024 to $0.62 billion in 2025, at a CAGR of 25.6%. This growth is attributed to the demand for quantum computing solutions, government support for technology development, the increasing need for related equipment and services, and strategic alliances for R&D in sectors such as BFSI.
The quantum computing software market is expected to grow to $1.53 billion by 2029 at a CAGR of 25.2%. This growth can be attributed to the increasing adoption of cloud-based quantum platforms, growing use of quantum computing in drug discovery, and rising investments in digital transformation. Major trends include the development of customized quantum software, integration of quantum development kits, product innovations, and collaborations between leading technology firms.
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What trends are poised to drive the future success of the quantum computing software market?
Companies in the quantum computing software market are focusing on cloud-based quantum computing services to stay competitive. For instance, in March 2024, US-based Oracle launched a cloud quantum enterprise software service, which combines classical computing with quantum capabilities to enable new industrial applications. This service uses Oracle Cloud Infrastructure, powered by Nvidia GPUs and the CUDA Quantum platform, to offer hybrid quantum computing capabilities.
Which primary segments of the quantum computing software market are driving growth and industry transformations?
The quantum computing software market covered in this report is segmented -
1) By Component: Solution, Services
2) By Technology: Superconducting Qubits, Trapped Ions, Quantum Annealing, Other Technologies
3) By Deployment: Cloud, On-Premises
4) By Application: Optimization, Machine Learning, Simulation, Other Applications
5) By End-User: Aerospace And Defense, Banking, Financial Services And Insurance (BFSI), Healthcare, Automotive, Energy And Power, Chemical, Government, Other End-Users
Subsegments:
1) By Solution: Quantum Algorithms, Quantum Programming Languages, Quantum Simulation Software, Quantum Cloud Platforms, Quantum Machine Learning Software, Quantum Cryptography Software, Quantum Error Correction Software, Quantum Computing Middleware, Quantum Software Development Kits, Quantum Cloud Integration Tools
2) By Services: Quantum Software Development Services, Quantum Algorithm Development And Optimization Services, Quantum Cloud Computing As A Service, Quantum Consulting And Advisory Services, Quantum System Integration And Customization, Quantum Software Maintenance And Support, Quantum Education And Training Services, Quantum Simulation As A Service, Quantum Computing Application Development Services
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Which geographical regions are pioneering growth in the quantum computing software market?
North America was the largest region in the quantum computing software market in 2023. The regions covered in the quantum computing software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the quantum computing software market landscape?
Major companies operating in the quantum computing software market are Alphabet Inc., Microsoft Corporation, Huawei Technology Co. Ltd., Amazon Web Services Inc., accenture* PLC, International Business Machines Corporation, Oracle Corporation, Honeywell International Inc., SAP SE, Salesforce.com Inc., Fujitsu Ltd., Kronos Incorporated, 1QB Information Technologies Inc., Zapata Computing Inc., Rigetti Computing Inc., QC Ware Corp., D-Wave Quantum Systems Inc., Cambridge Quantum Computing Ltd., Riverlane Limited, Algorithmiq Inc., Strangeworks Inc., Phasecraft Limited, Entropica Labs Pte. Ltd., ProteinQure Inc., Quantum Circuits Inc
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What Is Covered In The Quantum Computing Software Global Market Report?
•Market Size Forecast: Examine the quantum computing software market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the quantum computing software market for a structured understanding.
•Key Players Overview: Analyze major players in the quantum computing software market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the quantum computing software market.
•Segment Contributions: Evaluate how different segments drive overall growth in the quantum computing software market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the quantum computing software market.
•Industry Challenges: Identify potential risks and obstacles affecting the quantum computing software market.
•Competitive Landscape: Review strategic developments in the quantum computing software market, including expansions, agreements, and new product launches.
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