info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)

The Rise of Quantum Computing and its Prospects

By Shubham Munde , 30 May, 2023

The world has witnessed magnificent advancements in the field of the computing field. From the invention of the first computer to the development of supercomputers, each innovation has pushed the boundaries of what is possible. The evolution of computers has wholly revolutionized human life beyond the imagination and continues to play an essential role in every aspect. Classical computers shaped the 20th century, and at the beginning of the 21st century, people realized that classical computers come with certain limitations. The limitations of classical computers pushed scientists to develop a new type of computing called quantum computing.

Quantum computing is a multidisciplinary field encompassing aspects of computer science, physics, and mathematics that employs quantum mechanics to solve complex problems faster than conventional or classical computers. Quantum computers can process information much more quickly than traditional computers. This is because quantum computers use qubits, typically small particles (atoms, ions, photons, or electrons) that hold information and behave according to the laws of quantum physics. Therefore, it can handle a much vaster amount of data much faster than a classical computer.

Companies like IBM, Google, Intel, D-Wave Systems, and Microsoft, among others, are racing to build quantum computing tools. However, IBM received attention when they initially announced a quantum computer available to the public as a cloud service for researchers in 2016. After that, global businesses realized quantum computers' full potential in solving too complex problems that classical computers can’t. Many companies are already using the revolutionary technology. The companies such as Mercedes-Benz, ExxonMobil, CERN, and Mitsubishi Chemical are already using the technology to solve complex problems such as supply chain complexities, improve battery chemistry, discover the secrets of the universe, etc. Quantum computers are so powerful that they can help tackle complex problems like disease, food, and climate crises. Over time, advancements in quantum computers with higher numbers of qubits will open significant possibilities which today feel like science fiction only.

There are several use cases of quantum computers across the industries such as energy and power, automotive, chemicals, transportation and logistics, healthcare, aerospace & defense, IT & telecom, agriculture, manufacturing, and electronics, among others.

According to the MRFR estimates, the global quantum computing market will likely register a significant CAGR of 31.3% by 2030.

Quantum Computing investments (2010-2022)

Quantum-Computing.jpg

Latest News

period.png
Packaging Manufacturer Collabs with Solar Projects to Enhance Cleantech in 2024

Companies are making significant moves towards the clean energy transition in various ways. In order to reduce carbon emissions, certain companies are investing in several rescue methods in 2024. Renewables production is growing over time as the…

Read More

Amazon.png
Amazon Enables News Technologies to Help its Business Customers

Amazon is one of the leading global e-commerce platforms for consumers. The brand boosts its online shopping experience for users in multiple ways. Surveys show that Amazon regulates several business solutions to increase its products and services…

Read More

2023.png
Asian Carbon Emissions Affects West’s Clean Energy Transition Process in 2024

Globally, countries are facing challenges in the transformation of green energy. The economies worldwide target to achieve net zero emissions. Hence, countries are introducing several ways to reduce environmental carbon emissions. Developing…

Read More

2023.png
China to Boost Oil and Gas Production from New Sources in 2024

China is the leading nation in the energy market. Since the clean energy transition focuses on renewables, China surpasses other nations in renewables production. In a mission to strengthen its energy security, China moves forward with oil and gas…

Read More

market.png
China Copper Export Increases in the Global Market

There will be a surge in copper demand in the energy market in 2024. The growing demand for copper contributes to different usages in the energy market. China stands out in the copper exports of 2024. The Chinese economy is booming, with an…

Read More

Author Pic
Shubham Munde

Research Analyst Level II