Press release
Key Trends Shaping the Future Quantum Technology Market From 2025-2034: Revolutionizing Problem-Solving Through Advanced Quantum Technologies
Quantum Technology
The increasing prevalence of cybercrimes and financial fraud is expected to propel the quantum technology market. Cybercrimes and financial fraud include activities like hacking, identity theft, and fraudulent transactions conducted via digital means. The rise in these issues is linked to increased internet use, digitalization, and stronger interconnectedness. Quantum technology can revolutionize cybersecurity and financial fraud prevention by offering secure cryptographic methods, fraud detection, and privacy-preserving computation. For instance, the FBI reported a 38% increase in investment losses, from $3.31 billion in 2022 to $4.57 billion in 2023. The surge in cybercrimes and fraud is therefore expected to propel the quantum technology market.
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How will the growth rate of the quantum technology market shape industry trends by 2034?
The quantum technology market has grown significantly in recent years. It is projected to rise from $1.48 billion in 2024 to $1.88 billion in 2025, at a CAGR of 27.3%. The growth is driven by the rise of quantum software and applications, experimental demonstrations, cross-disciplinary research, increasing cybersecurity threats, and global initiatives.
The quantum technology market is projected to grow to $4.89 billion by 2029 at a CAGR of 26.9%. This growth is driven by breakthroughs in quantum computing, quantum-secure communication, and quantum sensing technologies. Key trends include advances in quantum computing power, quantum cloud services, and applications in quantum machine learning for data analysis.
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What trends are poised to drive the future success of the quantum technology market?
Companies in the quantum technology market are focusing on quantum optimization platforms to maintain their market position. These platforms use quantum computing to solve optimization problems more efficiently than traditional methods. For instance, in February 2024, Quantum Computing Inc., a US-based software company, launched the Dirac-3 entropy quantum computer (EQC), which uses nonlinear quantum optics to tackle complex problems that require unique solutions. The Dirac system operates at room temperature and requires no additional infrastructure.
Which primary segments of the quantum technology market are driving growth and industry transformations?
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
Subsegments:
1) By Hardware: Quantum Computers, Quantum Sensors, Quantum Communication Systems
2) By Software: Quantum Algorithms, Quantum Simulation Software, Quantum Cryptography Software
3) By Service: Quantum Computing Services, Quantum Research And Development Services, Quantum Technology Consulting Services
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Which geographical regions are pioneering growth in the quantum technology 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.
Who are the influential players reshaping the quantum technology market landscape?
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, Accenture* plc, 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.
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What Is Covered In The Quantum Technology Global Market Report?
•Market Size Forecast: Examine the quantum technology market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the quantum technology market for a structured understanding.
•Key Players Overview: Analyze major players in the quantum technology market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the quantum technology market.
•Segment Contributions: Evaluate how different segments drive overall growth in the quantum technology market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the quantum technology market.
•Industry Challenges: Identify potential risks and obstacles affecting the quantum technology market.
•Competitive Landscape: Review strategic developments in the quantum technology market, including expansions, agreements, and new product launches.
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