Enterprise Quantum Computing Market Expected to Reach USD 18,336.45 Million By 2030

According to the report published by Allied Market Research, the global enterprise quantum computing market generated $1.37 billion in 2020 and is estimated to reach $18.33 billion by 2030, witnessing a CAGR of 29.7% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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An increase in investments in quantum computing technology, demand for high-performance computing, and demand from medical research and financial markets drive the growth of the global enterprise quantum computing market. However, operational challenges and stability & error correction issues hinder the market growth. On the other hand, the advent of on-premises quantum computers for businesses and technological advancements create new opportunities in the coming years.

This report gives an in-depth profile of some key market players in the enterprise quantum computing market are Alibaba Group, D-Wave Systems Inc., Google, Huawei Technologies Co., Ltd., International Business Management Corporation (IBM), ID Quantique, Intel Corporation, Microsoft, Rigetti & Co, Inc., and Toshiba Research Europe Ltd. This study includes market trends, market analysis, and future estimations to determine the imminent investment pockets.

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Enterprise quantum computing market trends in Asia-Pacific is expected to exhibit highest growth during the forecast period, owing to strong economic growth along with the ongoing development in quantum computing, which drives organizations to invest heavily in enterprise quantum computing market to sustain growth and improve productivity.

In addition, factors such as major shift toward digital transformation, cloud deployment & technological advancement among small & medium businesses, and continuously ongoing modernization in quantum computational strategy in emerging economies notably contribute toward the market growth. Furthermore, key players in Asia-Pacific are focusing on enhancing their operations and increasing their overall efficiency to stay competitive in the market, which is expected to provide lucrative opportunities for the growth of the market during the forecast period.

Depending on deployment mode, the cloud segment garnered the largest share in 2020, and is expected to continue this trend during the forecast period. This is attributed to numerous benefits provided by this cloud deployment such as high level of data security and safety. However, the cloud segment is expected to witness highest growth in the upcoming years. As cloud deployment does not need any investment in IT infrastructure as all data is stored on cloud server, which increases the demand for of geospatial analytics software in small and medium scale organizations.

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Based on components, the hardwear segment dominated the overall enterprise quantum computing industry in 2020, and is expected to continue this enterprise quantum computing market trends during the forecast period. This is attributed to increase in adoption of enterprise quantum computing solution among enterprises to gain strategic as well as competitive advantage and strong customer retention over their competitors. In addition, these solutions save both time as well as money, leverage existing data investments, and improve image analysis capabilities, with just a single software application.

Moreover, quantum computing service providers are upgrading their software solutions to expand the range of enterprise quantum computing applications to reach more customers, which provides lucrative opportunities for the market growth. However, the service segment is expected to witness highest enterprise quantum computing market growth, as service segment of enterprise quantum computing industry ensures effective coordination between software provider companies and users of enterprise quantum computing software by providing services such as implementation, training, consulting services, and managed services.

The adoption of this software speeds up the customer satisfaction of various industrial verticals such as BFSI, IT & telecommunication, and healthcare, which maximizes the value of existing customer by optimizing their needs and minimizes the cost of operation. This further fuel the adoption of services that are needed to handle the software properly.

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As per Enterprise quantum computing market forecast post COVID-19, the global Enterprise quantum computing market size is estimated to grow from $ 1,761.50 Million in 2021, and reach $ 18,336.45 Million by 2030, at a CAGR of 29.7%.

The COVID-19 outbreak has a positive impact on the growth of the Enterprise quantum computing market as Enterprise quantum computing technologies are helping enterprises to address the extensive capacity demand of data volume. The outbreak of COVID-19 has affected communities globally while governments and companies are trying their best to respond faster to the challenges posed by this pandemic.

However, from the last quarter of 2019, COVID-19 pandemic created an unbalanced health situation, with stringent restriction to maintain social distancing and lockdown implemented across world. Thus, with a major aim to contain this pandemic, majority of the economies have enforced completed shutdown, thereby leading to decline in business operations. Sectors such as manufacturing and transportation have been severely impacted, worsening the business scenario and resulting colossal monetary and employment losses. However, this pandemic has elevated the growth for the enterprise quantum computing market, and is expected to exhibit two fold increase during the forecast period.

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