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Allied Market Research

Quantum Computing Market by Product Type (Hardware, Software, and Services), Application (Optimization, Simulation, Machine Learning, and Others), and End Users (Healthcare & Pharmaceuticals, Chemicals, Defense, Banking & Finance, Energy & Power, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

A09826
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Aug 2021 | 499 Views
 
Author(s) : NA
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Quantum Computing Market Outlook - 2027

Quantum computing is the use of quantum phenomena like entanglement and superposition to perform computation. It helps facilitate new discoveries in various sectors such as smart materials, healthcare, energy and others. Thus, it findsits applications in optimization, simulation, sampling and others in end uses such as healthcare & pharmaceuticals, chemicals, defense, banking & finance, energy & power, and others. It processes information at atomic and sub atomic level through quantum computers and by using quantum physics. Innovations in the computing technology paves way for better and improved quantum computers.

The global quantum computingmarket is segmented on the basis of product type, application, end usersand region. Based on product type, the market is divided intohardware, software, and services. In terms of application, the market is categorized into optimization, simulation, machine learning, and others. On the basis of end usersthe market is divided into healthcare & pharmaceuticals, chemicals, defense, banking & finance, energy & power, and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global quantum computing industry include Intel Corporation, Rigetti & Co, Atos SE, Cambridge Quantum Computing Ltd., D-Wave Systems Inc., IBM Corporation, QRA Corp, QC Ware Corp, Google, Qxbranch Inc., And Others. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global quantum computingmarket.

Market Scope and Structure Analysis

Report Metric

Details

Market Size Available For Years

2019–2027

Base Year Considered

2019

Forecast Period

2020–2027

Forecast Units

Value (USD)

Segments Covered

Product Type, Application, End Users, And Region

 

Regions Covered

North America (U.S., Canada, And Mexico), Europe (UK, Germany, France, Italy, And Rest OfEurope), Asia-Pacific (China, Japan, South Korea, India, And Rest Of Asia-Pacific), And LAMEA (Latin America, Middle East, And Africa)

Companies Covered

Intel Corporation, Rigetti &Co, Atos SE, Cambridge Quantum Computing Ltd., D-Wave Systems Inc., IBM Corporation, QRA Corp, QC Ware Corp, Google, Qxbranch Inc., And Others

COVID-19 Scenario Analysis

  • The global quantum computing market forecast has been significantly impacted by the COVID-19 outbreak.
  • The global factories have struggled to integrate new quantum computers as workers have stayed in their homes and which in turn has disrupted the global supply chains.
  • As energy is and will be the core component of an industry, the demand for the quantum computing will increase as it helps in reducing usage of fuel and minimization of the costs.
  • The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled.

Top Impacting Factors

The major drivers leading to the growth of the quantum computing market are the growing preference for the Software as a service (SaaS) business models, expanding datacenter workloads and increasing complexity in processor design. Also, its increased adoption in the defense and healthcare sector is a major driving factor for the growth of this market. But, high cost and availability of substitute product may hinder market growth. Moreover, rise in investments in research and developments, strategic collaborations between major players, and its usage in real time applications are expected to fuel the growth further.

New Product Launches to Flourish the Quantum Computing Market

A developer preview of D-Wave hybrid, an opensource hybrid workflow platform was recently launched by D-Wave systems Inc. it will be used for running and building classical hybrid applications. Cirq was launched by Google in 2018. It is an open source framework for Noisy Intermediate Scale Quantum (NISQ). Pyquil 1.9 was launched by Rigetti & Co in 2018. It is a toolkit for running and constructing quantum computing programs.

Surge in Usage in Energy and Power Industry

Manufacturers have been focusing on producing new products for specific applications as there are different demands based on the utilization. Leading market players have determined how improved optimization can be influential in many applications. As the energy consumption is increasing across the world, there is increase in the demand for the renewable energy as well. This leads to the requirements for highly optimized energy management systems. Quantum computing provides a new solution to solve complex optimization problems.

Key Segments Covered

Segments

Sub-Segments

Product Type

  • Hardware
  • Software
  • Services

Application

  • Optimization
  • Simulation
  • Machine Learning
  • Others

End Users

  • Healthcare &Pharmaceuticals
  • Chemicals
  • Defense
  • Banking &Finance
  • Energy &Power
  • Others

Key Benefits of the Report

  • This study presents the analytical depiction of the global quantum computing industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global quantum computing market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global quantum computing market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global quantum computing market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions Answered in the Quantum Computing Market Research Report

  • What are the leading market players active in the quantum computing market size?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the quantum computingmarket trends?
  • What are the projections for the future that would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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