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.
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 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 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?
Quantum Computing Market Report Highlights
By Product Type
By End Users
Key Market Players
Rigetti &Co, QC Ware Corp, Cambridge Quantum Computing Ltd., Atos SE, Qxbranch Inc., Google, IBM Corporation, Intel Corporation, QRA Corp, D-Wave Systems Inc.