The Global Quantum Computing Market Size was exhibited at USD 10.13 billion in 2022 and is expected to surpass around USD 125 billion by 2030, poised to grow at a projected CAGR of 36.89% during the forecast period 2023 to 2030.
Quantum Computing Market Overview:
Quantum computing is the part of computer science that employs the principles of quantum theory. It is a rapidly emerging advanced technology that obeys the laws of quantum mechanics to solve more complex problems for classical computers. Quantum computers have been used for calculations based on ideas from quantum physics. It differs from traditional computing in terms of speed, bits, and data. Classical computing uses two bits, 0 and 1, but the system uses all states between 0 and 1, resulting in better results and faster processing. The system is primarily used to compare multiple solutions and find the best solution for a complex problem.
Quantum Computing market size, estimates, and forecasts are provided in terms of sales volume (K Units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Quantum Computing market in detail. Regional market sizes related to products by type, by application, and by the player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In September 2022 – Quix Quantum signed a contract with the German Aerospace Center to deliver 64 and 8-qubit universal quantum computers. These systems will be based on photonics, integrating existing technologies from their processors with feedforward, sources, and detectors.
- In September 2022 – Alpine Quantum Technologies GmbH presents the Beech, a fully digital, rack-compatible laser stabilization module for up to four different wavelengths.
- In June 2022 - ORCA Computing partners with the UK Ministry of Defense (MoD) to enhance future data processing capabilities. The company will use ORCA's PT-1 model, the first model to be based on a local computer and capable of operating at room temperature.
- In March 2022 - Quix Quantum launches a photonic quantum processor developed at the company's factory. It has almost double the performance of current-generation processors. The processor has a record number of modes (20) and the highest operating specifications.
- In February 2021 - ParityQC and Electron collaborate on ion trap quantum computing. The businesses are working with a consortium to develop an ion trap computing demonstrator for a funded ATIQ project.
Major Segments Covered in the Global Quantum Computing Market:
Market Key Players:
D-Wave Systems, Google, IBM, Intel, Microsoft, 1QB Information Technologies, Anyon Systems, Cambridge Quantum Computing, ID Quantique, IonQ, QbitLogic, QC Ware, Quantum Circuits, Qubitekk, QxBranch, Rigetti Computing, And Others.
Quantum Computing Market by Types:
Quantum Computing Market by Applications:
- Healthcare & pharmaceuticals
- Banking & finance
- Energy & power
Quantum Computing Market by Regions:
The North American market has witnessed significant growth owing to the highly competitive landscape and early adoption of advanced technologies. The readiness rate for cloud adoption and the readiness of end users to develop advanced services across countries in the region are positively impacting the growth of the overall North American market.
Europe is expected to witness significant growth owing to the increasing number of start-ups in the region utilizing the technology. Furthermore, digital government regulatory environment and initiatives and increasing usage of cloud-based technologies in the region are expected to drive market growth and technological advancements. In Europe, the use of cloud computing will increase by 5% in 2021 compared to 2020. For these reasons, the region is expected to witness healthy market growth in the coming years.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
Various government agencies related to the global space and defense sectors are increasingly investing in the development of quantum computing technologies so that different optimization and simulation strategies can be implemented using quantum computers. Governments around the world are investing heavily in supporting their research institutions to develop quantum computing technologies. China is investing heavily in R&D activities related to quantum computing technologies. The governments of the United States and Australia, as well as countries in the European Union, are advancing quantum computing initiatives. For example, in August 2017, the Commonwealth Bank (CBA), together with telecommunications company Telstra, the federal government, the New South Wales government and the University of New South Wales (UNSW), invested $83 million to establish the first quantum computing Australian company. These initiatives are expected to increase the use of quantum computing technology and broaden its application areas in the coming years. These investments are being used to commercialize quantum computers. They are expected to enable players operating in the quantum computing market to cater to the needs of numerous users, thereby driving the growth of the quantum computing market in the coming years.
Report Scope of Global Quantum Computing Market:
CAGR of 36.89% from 2022 to 2030.
Hardware, Software, Services,
Defense, Healthcare & pharmaceuticals, Chemicals, Banking & finance, Energy & power
D-Wave Systems, Google, IBM, Intel, Microsoft, 1QB Information Technologies, Anyon Systems, Cambridge Quantum Computing, ID Quantique, IonQ, QbitLogic, QC Ware, Quantum Circuits, Qubitekk, QxBranch, Rigetti Computing.
Regions and Countries Covered
- North America: (US, Canada, Mexico, and Rest of North America)
- Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America(Brazil, Argentina, Rest of Latin America)
- Rest Of the World
2017 to 2022
2023 to 2030
Points Covered in the Report
- The points that are discussed within the report are the major market players that are involved in the Market such as Market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by market player, region, type, application and etc., and custom research can be added according to specific requirements.
- The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Frequently Asked Questions-
What is the CAGR of Quantum Computing market?
The Quantum Computing Market is growing at a CAGR of 36.89% During the Forecast Period.
What are the key types and applications of Quantum Computing market?
Types- Hardware, Software, Services
Applications- Defense, Healthcare & pharmaceuticals, Chemicals, Banking & finance, Energy & power
Who are the key players in Quantum Computing market?
D-Wave Systems, Google, IBM, Intel, Microsoft, 1QB Information Technologies, Anyon Systems, Cambridge Quantum Computing, ID Quantique, IonQ, QbitLogic, QC Ware, Quantum Circuits, Qubitekk, QxBranch, Rigetti Computing., And others.
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Note – In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19 and the Russia-Ukraine war.