The benefits of quantum computing over traditional computing is one of the major factors for the growth of the global quantum computing market. Quantum computer utilizes qubits instead of bits which enables them to store more information by utilizing less energy than traditional computers. Moreover, the government initiatives to expand the applications of quantum computing are positively impacting the growth of the global quantum computing market.
Furthermore, the growing deployment of quantum computing for machine learning, development of artificial intelligence, the increasing demand for cryptocurrency, and smart manufacturing and distribution, are some of the key factors leading to the growth of the quantum computing market.
According to MarkNtel Advisors’ research report “Global Quantum Computing Market Analysis, 2020”, the market size of global Quantum Computing market is forecast to grow at a CAGR of around 39% during 2020-25. The key government agencies, funding bodies, industry participants, and research centers are facilitating the entire necessary infrastructure and the facilities needed to make quantum computing a reality.
Also, the introduction of new technologies such as artificial intelligence is projected to boost the demand for quantum computing in various regions.
Software Segment to Emerge as the Fastest Growing Segment During the Forecast Period
The Hardware segment dominated the global quantum computing market in 2015-19. The domination by the segment is projected to remain stable in the forecast period, owing to the increasing investment by the startups on the development of the quantum hardware components, as stated in MarkNtel Advisors’ research report “Global Quantum Computing Market Analysis, 2020”. However, the services segment is expected to maintain its stable market growth rate of around 40%- 50%, whereas, the software segment is projected to attain lucrative growth during the forecast period.
The growing penetration of cloud services and the wide availability of software as a service are leading to significant growth in the services segment.
North America region Holding the Significant Market Share in the Global Quantum Computing Market
North America has had the highest market share in the global quantum computing market and is expected to maintain its dominance in the years to come. The majority market share of North America is attributed to the growing investments by the governments to develop quantum computing solutions for the commercial sector. s
According to MarkNtel Advisors, some the of key competitors operating in the Quantum Computing market include D Wave System Inc., IBM Corporation, Lockheed Martin, Google Research, Intel Corporation, Hewlett Packard Enterprise, QC Ware Corporation, Cambridge Quantum Computing Ltd., etc. During 2015-19, numerous venture capitalists have invested around USD 600 million across various start-ups, and well-established market players. The most well-funded companies in the Quantum Computing market are D-Wave System, Rigetti Computing, Silicon Computing, QD Laser, Cambridge Computing, IQBit, etc.
“Global Quantum Computing Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for quantum computing solution providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
1. By Offerings (Hardware, Software, Services)
2. By Application (Machine Learning, Numerical Simulation, Model Optimization)
3. By End User (Private Companies, Academia, Government)
4. By Deployment (On-Premises, Cloud, Hybrid)
5. By Sector (Aerospace & Defense, Agriculture, Finance & Investment, IT & Communications, Agriculture, Logistics & Transportation, Automotive & Mobility, Energy & Power, Chemicals & Materials, Others)
6. By Technology (Quantum Annealing, Superconducting, Trapped Ion, Quantum Dots, Others)
7. By Region (North America, South America, Europe, Asia- Pacific)
8. By Country (US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan)
9. By Company (D Wave System Inc., IBM Corporation, Lockheed Martin, Google Research, Intel Corporation, Hewlett Packard Enterprise, QC Ware Corporation, Cambridge Quantum Computing Ltd., and others)
Key questions answered in the study:
1. What are the current and future trends of the Quantum Computing industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Quantum Computing industry?
5. What are the customer orientation, purchase behavior, and expectations from the Quantum Computing firms across various regions?