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Comprehensive 2025 Quantum Computing Software Market Overview: Trends, Forecasts, and Growth Drivers
Quantum Computing Software
What Is the Expected CAGR for the Quantum Computing Software Market Through 2025?
In the last few years, the quantum computing software market has witnessed a substantial expansion. Its worth is set to increase from $0.5 billion in 2024 to $0.62 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 25.6%. This significant expansion during the historic period can be ascribed to factors such as the need for quantum computing solutions, government advocacy for technological advancement and roll out, the growing demand for such equipment and services, an increasing amount of strategic collaborations for R&D, and a soaring uptake of such software within the BFSI sector.
What's the Projected Size of the Global Quantum Computing Software Market by 2029?
The market size for quantum computing software is projected to experience exceptional growth in the ensuing years. The market is predicted to expand to $1.53 billion by 2029, with a compound annual growth rate (CAGR) of 25.2%. The anticipated growth during the forecast period is linked to the escalated provision of cloud-centric platforms, an increased application of quantum computing technologies in medicinal discovery, and substantial investments in digital metamorphosis. The forecast period expects trends such as crafting of specific quantum software, the integration of quantum development kits, innovative product offerings, partnerships amidst prominent technology entities, and the initiation of hybrid solutions combining classical and quantum approaches.
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Top Growth Drivers in the Quantum Computing Software Industry: What's Accelerating the Market?
The quantum computing software market is predicted to experience growth due to increasing investments in quantum computing startups. These startups are recognized for their work in developing and commercializing quantum computing technology. Government support and the prospect of revolutionary innovation are two primary factors driving investments in these startups. The surge in investments is also due to the startups' potential to pioneer new commercial opportunities, thus creating considerable economic value for various industries. The FINRA, a non-profit organization that regulates the U.S. financial sector, reported in October 2023 a record-breaking investment of $2.35 billion in quantum computing startups, both hardware and software, marking a substantial increase over the previous two-year period. Hence, the growth of the quantum computing software market is largely fueled by the escalating investments in quantum computing startups.
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What Trends Will Shape the Quantum Computing Software Market Through 2029 and Beyond?
Quantum computing software market giants are concentrating on technological innovations like cloud-based quantum computing services to maintain their market leadership. Such services present enterprise clients with the opportunity to utilize hybrid quantum computing facilities, encompassing quantum-empowered AI, optimization, and machine learning. As an example, in March 2024, Oracle Corporation, a renowned technology corporation from the US, introduced a cloud quantum enterprise software service. This new move will allow customers to look into new industrial applications of hybrid quantum computing, integrating traditional high-performance computing and quantum computing for enhanced processing capacity. The service will leverage Oracle Cloud Infrastructure (OCI), supported by Nvidia A100 Tensor Core GPU clusters, and the Nvidia CUDA Quantum open-source hybrid quantum computing platform.
What Are the Main Segments in the Quantum Computing Software Market?
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 Top Companies are Driving Growth in the Quantum Computing Software Market?
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
Which Regions Will Dominate the Quantum Computing Software Market Through 2029?
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.
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