Isle of Man, Oct. 17, 2022 (GLOBE NEWSWIRE) -- Douglas Insights has analyzed various aspects of the Quantum Computing Market and revealed the changes in market trends due to increased investment and collaborations for the development of Quantum Computing Technologies by various governments and companies. Its comparison engine has generated many research articles and reports, making it possible for several experts, analysts, and researchers to obtain essential information relating to key growth drivers and market restraints to make predictions and provide reports offering many insights into the global recycling market. The digital tool effectively compares all existing research and Publisher Ratings, Table of Contents, and Publication Dates.
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Market Insights
The global market for Quantum Computing is experiencing an upward trend with significant growth. The market is expected to see a 30.2% growth in CAGR by the year 2026. There are various drivers to the market, along with some relevant restraints. However, the overall demand for and interest in Quantum Computing means that the next forecast period will see much growth.
The Covid-19 pandemic actually resulted in further growth of the Quantum Computing Market as opposed to stunting the market's growth as it did with many other global markets. After the pandemic, there was increased spending on healthcare and pharmaceuticals to develop medical and diagnostic tools, not just for Covid-19 but for other diseases and conditions, too. These medical and diagnostic tools are enabled by Quantum Computing technologies, thereby driving the demand for Quantum Computing. Quantum sensors are also used in MRI technology.
Market Growth Drivers:
One of the most significant drivers of the Quantum Computing Market is the early adoption of the technology by the banking and finance industries. Quantum Computing is used in these industries to speed up the time it takes to carry out transactions and process large quantities of data. Quantum Computing also reduces the costs of these transactions, leading to more revenue generation. Another driver of the market is the increased investment in Quantum Computing by various governments across the world. For example, the governments of China, the US, and Australia have all been supporting the research and development of Quantum Computing Technology. There are also some very helpful partnerships between large companies like Google and Intel to carry out R&D.
Despite the strong levels of growth in the market and all of the drivers to the market, there are still some restraints to consider. Quantum Computing Technology is still in the very early stages of its life, despite so much research being done. Technology has a long way to go before it is entirely stable, efficient, and free from errors. At present, Quantum Computers use physical qubits, which can lead to errors in computing. A lot of work is still to be done to develop Quantum Computing and eliminate all errors. It is also very difficult to commercialize Quantum Computers as the qubits require very specific conditions to work in and can be easily disrupted.
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As for market segmentation, the Asia Pacific region is expected to hold the largest market share in the next forecast period. China, South Korea, and Japan are leading the region in manufacturing electronic devices like laptops and smartphones. As a result, there is an increased demand for Quantum Computing in the region.
Some key market players in the Quantum Computing Market to look out for include Google (US), Amazon (US), Microsoft (US), and International Business Machines (US).
Quantum Computing Market Report Coverage
| Report Attributes | Details |
| Market Size in 2021 | $XX Mn |
| Market Size Projection in 2031 | $XX Mn |
| CAGR (2021-2028) | 32.2% |
| Largest Market | North America |
| Growth Drivers | Increasing number of health and environmental-conscious consumers, Advancements in transportation networks, The increase in the number of people who have to travel for work from one state to the other |
| Segmentation | By Type (Quantum Annealing, Quantum Simulation, Universal Quantum), By Application (Machine Learning, Optimization, Material Simulation, Financial Services, Others), By Industry Verticals (IT & Telecom, Healthcare & Life Sciences, Manufacturing, Aerospace & Defense, Energy & Utilities, Others) |
| Regional Analysis | North America (US, Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Europe (U.K, Germany, Italy, France, Spain, Russia and Rest of Europe), APAC (China, Japan, India, South Korea, Australia, ASEAN and Rest of Asia Pacific), ME (GCC Countries, Israel, and Rest of Middle East) & Africa (South Africa, North Africa and Central Africa) |
| Key Companies Covered | D-Wave Systems Inc., International Business Machines Corporation, Google Inc., 1QB Information Technologies, Microsoft Corporation, QX Branch, Cambridge Quantum Computing Limited, QC Ware Corp., Rigetti Computing, and River Lane Research among others. |
Segmentations
By Method of Deployment
- Introduction
- On-premises
- Cloud-Based
By Technology
- Introduction
- Trapped Ions
- Quantum Annealing
- Superconducting Qubits
- Others
By Application
- Introduction
- Quantum-assisted Optimization
- Advertising/Digital Marketing
- Supply Chain Optimization
- Quantum Simulation
- Basic Research
- Quantum Chemistry
- Materials Discovery and Design
- Quantum-assisted Machine Learning
- Quantum Cryptography
By End-User Industry
- Introduction
- Banking and Finance
- Information Technology (IT) and Telecommunications
- Healthcare and Pharmaceuticals
- Space and Defense
- Energy and Power
- Transportation and Logistics
- Academia
- Government
- Chemicals
- Agriculture
- Digital Media/Online Service
- Retail
- Weather Forecasting
Key questions answered in this report
- COVID 19 impact analysis on global Quantum Computing industry.
- What are the current market trends and dynamics in the Quantum Computing market and valuable opportunities for emerging players?
- What is driving Quantum Computing market?
- What are the key challenges to market growth?
- Which segment accounts for the fastest CAGR during the forecast period?
- Which product type segment holds a larger market share and why?
- Are low and middle-income economies investing in the Quantum Computing market?
- Key growth pockets on the basis of regions, types, applications, and end-users
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Unique data points of this report
- Statistics on Quantum Computing and spending worldwide
- Recent trends across different regions in terms of adoption of Quantum Computing across industries
- Notable developments going on in the industry
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2031 (forecast)
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