New York, United States , Feb. 14, 2024 (GLOBE NEWSWIRE) -- The Global Quantum AI Market Size is to Grow from USD 239.4 Million in 2023 to USD 3900 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 32.40% during the projected period.
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Quantum AI is the application of artificial intelligence and quantum computing together. By combining quantum computing with artificial intelligence (AI), researchers want to create machines that can solve problems that aren't currently solvable. Quantum artificial intelligence (QAI) is an attempt to improve the capabilities of artificial intelligence (AI) systems by fusing ideas from quantum physics and AI. It investigates the possibility of tackling challenging computational problems quicker and more effectively than with traditional computers by utilizing quantum computing approaches. Quantum AI might have important ramifications for speech and image recognition. These days, machine learning algorithms take care of these tasks, but they also need a lot of data and computing power. The development of quantum AI technology is continuously funded by both government programs and the corporate sector. For instance, high-profile American firms are actively investing in this field to stay competitive, and the governments of China, the USA, Australia, and the EU are offering financial help for quantum AI technology breakthroughs. Applications for quantum computing are growing, as is their commercialization. However, some businesses won't be able to enter the global quantum AI industry due to the high setup and management costs of the facilities and equipment required for quantum computing. Since quantum AI is still in its early stages and faces technical difficulties with scalability, error correction, and qubit stability, these problems will negatively impact the global quantum AI business.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Quantum AI Market Size, Share, and COVID-19 Impact Analysis, By Component (Software, Hardware, and Services) By Deployment Model (Cloud-Based, On-Premises, and Others), By Application (Machine Learning & Optimization, Cryptography & Security, Simulation & Modeling, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033)."
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The hardware segment is anticipated to hold the greatest share of the global quantum AI market during the projected timeframe.
Based on the component, the global quantum AI market is divided into software, hardware, and services. Among these, the hardware segment is anticipated to hold the greatest share of the global quantum AI market during the projected timeframe. The hardware segment has become leading the global quantum AI market due to the fundamental significance of quantum computers and their crucial role in advancing the capabilities and achievements of the industry.
The on-premises segment is anticipated to hold the largest share of the global quantum AI market during the projected timeframe.
Based on the deployment model, the global quantum AI market is divided into cloud-based, on-premises, and others. Among these, the on-premises segment is anticipated to hold the largest share of the global quantum AI market during the projected timeframe. This is because the on-premises segment of the global quantum AI market holds the biggest market share, owing to numerous significant characteristics that highlight the tactical advantages of incorporating quantum computing capabilities into the structure of a company's physical infrastructure.
The machine learning & optimization segment is predicted to grow at the highest pace in the quantum AI market during the estimated period.
Based on the application, the global quantum AI market is divided into machine learning & optimization, cryptography & security, simulation & modeling, and others. Among these, the machine learning & optimization segment is predicted to grow at the highest pace in the Quantum AI market during the estimated period. This is a result of the growing popularity of computers and the expansion of the machine learning market within the worldwide quantum AI industry. It helps users learn about the development of new quantum algorithms, features of quantum systems, and the assessment of quantum error-correcting codes.
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North America is expected to hold the largest share of the global quantum AI market over the forecast period.
North America is expected to hold the largest share of the global quantum AI market over the forecast period. This is due to several factors that put the region at the forefront of advancements in quantum computing and artificial intelligence. Specifically, the United States is home to the vast majority of the world's leading technology companies and research institutions that are spearheading innovation in quantum computing. The dominance of quantum AI in North America is highlighted by the significant investments made in the research and commercialization of quantum computing technologies by major technology giants like IBM, Google, and Microsoft.
Asia Pacific is predicted to grow at the fastest pace in the global quantum AI market during the projected timeframe. This is because, as technological advancements continue to accelerate, countries like China and South Korea are seeing a rise in demand for state-of-the-art quantum artificial intelligence (AI) and computing service systems. These developing nations see the potential of this technology and are investing heavily to meet the increasing demands from a range of businesses, such as the power and energy sectors, the healthcare and pharmaceutical industries, the defense industry, and space exploration.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Quantum AI Market include Alibaba Group, Quantinuum, Rigetti, Intel, IBM, Zapata, Microsoft, Amazon Braket, Anyon Systems, Atlantic Quantum, Atom Computing, Atos, Bleximo, C12 Quantum Electronics, D-Wave, EeroQ, Diraq, Google Quantum AI., Alice & Bob, Alpine Quantum Technologies (AQT), and others.
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Recent Developments
- In March 2023, in collaboration with IBM, the Cleveland Clinic debuted the nation's first privately owned on-site quantum computer, run by IBM primarily for medical research.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Quantum AI Market based on the below-mentioned segments:
Global Quantum AI Market, By Component
- Software
- Hardware
- Services
Global Quantum AI Market, By Deployment Model
- Cloud-Based
- On-Premises
- Others
Global Quantum AI Market, By Application
- Machine Learning & Optimization
- Cryptography & Security
- Simulation & Modeling
- Others
Global Quantum AI Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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