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Global Quantum Computing Market is valued at approximately USD 472 million in 2021 and is anticipated to grow with a healthy growth rate of more than 30.2% over the forecast period 2022-2029. Quantum Computing is a kind of advanced developing computing which is based on quantum theory and quantum mechanics. Quantum computing, which follows the principles of quantum physics, has been applied using the quantum computer. In terms of speed, bits, and data, it is different from traditional computing. Quantum computing uses all the states between 0 and 1, which helps in better outcomes and fast speed, as compared to classical computing, which only uses the two bits 0 and 1. In research, quantum computing is mostly used to compare various solutions and choose the most suitable one for a complex task. Chemicals, utilities, healthcare & pharmaceuticals, military, and many more industries have used it. The key factors driving the market growth are rising adoption of quantum computing in banking and finance industry, increasing investments in quantum computing technology, and surge in the number of strategic collaborations and partnerships to carry out advancements in quantum computing technology.
For Instance, in 2020, IBM and Daimler AG, the parent company of Benz and Mercedes, collaborated together to improve the battery capacity and charging speed. These companies used a quantum computer to simulate the dipole moment of three lithium-containing molecules, clearing the way for the development of lithium sulphur (Li-S) batteries, the next-generation lithium-ion alternatives that are more powerful, durable, and affordable. Also, technological advancements in quantum computing would create lucrative opportunities for the market during forecast period. However, the complexities in quantum computing implementation stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Quantum Computing Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the presence of key technology providers, and growing R&D investments in developing quantum computers, quantum computing math, and quantum computing applications boost the market size. Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising initiatives and funding by governments, and growing number of strategic alliances to boost Quantum Computing Market in the region.
Major market players included in this report are:
Honeywell International, Inc. (US)
Accenture (Ireland)
Rigetti & Co, Inc. (US)
1QB Information Technologies, Inc. (Canada)
IonQ (US)
Atom Computing, Inc. (US)
ID Quantique (Switzerland)
QuintessenceLabs (Australia)
Toshiba Research Europe Ltd. (UK)
Microsoft (US)
Recent Developments in the Market:
In 2019, The Unitary Fund and IBM cooperated to provide grants and special access to certain IBM Q systems. The Unitary Fund’s goal is to create a quantum technology industry that serves the majority of people, more as IBM’s quantum computing mission.
Global Quantum Computing Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Offering, Deployment, Application, Technology, End-use Industry, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Offering:
Systems
Services
By Deployment:
On Premises
Cloud Based
By Application:
Optimization
Simulation
Machine Learning
Others
By Technology:
Trapped Ions
Quantum Annealing
Superconducting Qubits
Others
By End-use Industry:
Banking & Finance
Space and Defense
Healthcare and Pharmaceuticals
Chemicals
Energy and Power
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
ROLA
Rest of the World
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Million)
1.2.1. Quantum Computing Market, by Region, 2019-2029 (USD Million)
1.2.2. Quantum Computing Market, by Offering, 2019-2029 (USD Million)
1.2.3. Quantum Computing Market, by Deployment, 2019-2029 (USD Million)
1.2.4. Quantum Computing Market, by Application, 2019-2029 (USD Million)
1.2.5. Quantum Computing Market, by Technology, 2019-2029 (USD Million)
1.2.6. Quantum Computing Market, by End-use Industry, 2019-2029 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Quantum Computing Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Quantum Computing Market Dynamics
3.1. Quantum Computing Market Impact Analysis (2019-2029)
3.1.1. Market Drivers
3.1.1.1. Rising Adoption of Quantum Computing in Banking and Finance Industry
3.1.1.2. Surge In Number of Strategic Collaborations and Partnerships to Carry Out Advancements in Quantum Computing Technology
3.1.2. Market Challenges
3.1.2.1. Complexities in Quantum Computing Implementation
3.1.3. Market Opportunities
3.1.3.1. Technological Advancements in Quantum Computing
Chapter 4. Global Quantum Computing Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Quantum Computing Market, by Offering
6.1. Market Snapshot
6.2. Global Quantum Computing Market by Offering, Performance – Potential Analysis
6.3. Global Quantum Computing Market Estimates & Forecasts by Offering 2019-2029 (USD Million)
6.4. Quantum Computing Market, Sub Segment Analysis
6.4.1. Systems
6.4.2. Services
Chapter 7. Global Quantum Computing Market, by Deployment
7.1. Market Snapshot
7.2. Global Quantum Computing Market by Deployment, Performance – Potential Analysis
7.3. Global Quantum Computing Market Estimates & Forecasts by Deployment 2019-2029 (USD Million)
7.4. Quantum Computing Market, Sub Segment Analysis
7.4.1. On Premises
7.4.2. Cloud Based
Chapter 8. Global Quantum Computing Market, by Application
8.1. Market Snapshot
8.2. Global Quantum Computing Market by Application, Performance – Potential Analysis
8.3. Global Quantum Computing Market Estimates & Forecasts by Application 2019-2029 (USD Million)
8.4. Quantum Computing Market, Sub Segment Analysis
8.4.1. Optimization
8.4.2. Simulation
8.4.3. Machine Learning
8.4.4. Others
Chapter 9. Global Quantum Computing Market, by Technology
9.1. Market Snapshot
9.2. Global Quantum Computing Market by Technology, Performance – Potential Analysis
9.3. Global Quantum Computing Market Estimates & Forecasts by Technology 2019-2029 (USD Million)
9.4. Quantum Computing Market, Sub Segment Analysis
9.4.1. Trapped Ions
9.4.2. Quantum Annealing
9.4.3. Superconducting Qubits
9.4.4. Others
Chapter 10. Global Quantum Computing Market, by End-use Industry
10.1. Market Snapshot
10.2. Global Quantum Computing Market by End-use Industry, Performance – Potential Analysis
10.3. Global Quantum Computing Market Estimates & Forecasts by End-use Industry 2019-2029 (USD Million)
10.4. Quantum Computing Market, Sub Segment Analysis
10.4.1. Banking & Finance
10.4.2. Space and Defense
10.4.3. Healthcare and Pharmaceuticals
10.4.4. Chemicals
10.4.5. Energy and Power
10.4.6. Others
Chapter 11. Global Quantum Computing Market, Regional Analysis
11.1. Quantum Computing Market, Regional Market Snapshot
11.2. North America Quantum Computing Market
11.2.1. U.S. Quantum Computing Market
11.2.1.1. Offering breakdown estimates & forecasts, 2019-2029
11.2.1.2. Deployment breakdown estimates & forecasts, 2019-2029
11.2.1.3. Application breakdown estimates & forecasts, 2019-2029
11.2.1.4. Technology breakdown estimates & forecasts, 2019-2029
11.2.1.5. End-use Industry breakdown estimates & forecasts, 2019-2029
11.2.2. Canada Quantum Computing Market
11.3. Europe Quantum Computing Market Snapshot
11.3.1. U.K. Quantum Computing Market
11.3.2. Germany Quantum Computing Market
11.3.3. France Quantum Computing Market
11.3.4. Spain Quantum Computing Market
11.3.5. Italy Quantum Computing Market
11.3.6. Rest of Europe Quantum Computing Market
11.4. Asia-Pacific Quantum Computing Market Snapshot
11.4.1. China Quantum Computing Market
11.4.2. India Quantum Computing Market
11.4.3. Japan Quantum Computing Market
11.4.4. Australia Quantum Computing Market
11.4.5. South Korea Quantum Computing Market
11.4.6. Rest of Asia Pacific Quantum Computing Market
11.5. Latin America Quantum Computing Market Snapshot
11.5.1. Brazil Quantum Computing Market
11.5.2. Mexico Quantum Computing Market
11.5.3. Rest of Latin America Quantum Computing Market
11.6. Rest of The World Quantum Computing Market
Chapter 12. Competitive Intelligence
12.1. Top Market Strategies
12.2. Company Profiles
12.2.1. Honeywell International, Inc. (US)
12.2.1.1. Key Information
12.2.1.2. Overview
12.2.1.3. Financial (Subject to Data Availability)
12.2.1.4. Product Summary
12.2.1.5. Recent Developments
12.2.2. Accenture (Ireland)
12.2.3. Rigetti & Co, Inc. (US)
12.2.4. 1QB Information Technologies, Inc. (Canada)
12.2.5. IonQ (US)
12.2.6. Atom Computing, Inc. (US)
12.2.7. ID Quantique (Switzerland)
12.2.8. QuintessenceLabs (Australia)
12.2.9. Toshiba Research Europe Ltd. (UK)
12.2.10. Microsoft (US)
Chapter 13. Research Process
13.1. Research Process
13.1.1. Data Mining
13.1.2. Analysis
13.1.3. Market Estimation
13.1.4. Validation
13.1.5. Publishing
13.2. Research Attributes
13.3. Research Assumption
The study of the market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geographies to provide a better regional outlook. In the report, country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. Our analysts contact company executives, managers, key opinion leaders, and industry experts. This enables our analyst to derive the closest possible figures without any major deviations in the actual number.
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