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Enterprise Quantum Computing Market Research Report – Global Forecast till 2027

Enterprise Quantum Computing Market Research Report, by Component (Software, Service, Hardware), by Application (Automation, Data Analytics, Optimization), by End-User (Automotive, BFSI, Chemical, Medical), by Technology (Simulation) — Global Forecast till 2027

ID: MRFR/ICT/6081-HCR | December 2022 | Region: Global | 100 Pages         

Enterprise Quantum Computing Market

Globally, the enterprise quantum computing market has reached a market value of USD 2&3 billion with a CAGR value of about 34% during the enterprise quantum computing market forecast period of 2018-2023

Segmentation

By Type component technology vertical deployment technology and region
By components hardware software and certain services
deployment on-cloud premise and hybrid
technique superconducting simulation enterprise quantum annealing
application data analytics medical research optimization pattern recognition automation

Key Players

  • QRA Corp
  • Cisco Systems
  • Intel Corporation
  • Atos SE
  • D-Wave System Inc
  • Quantum Circuits Inc
  • Cambridge Quantum
  • Microsoft Corporation
  • Computing Ltd
  • Google
  • IBM Corporation
  • Qxbranch
  • QC Ware Corporation
  • Rigetgi and Co. Inc

Drivers

  • BFSI
  • defense and automotive
  • increasing rate of cybercrimes
  • stringency of government initiatives
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ENTERPRISE QUANTUM COMPUTING MARKET OVERVIEW


Globally, the enterprise quantum computing market has reached a market value of USD 2&3 billion with a CAGR value of about 34% during the enterprise quantum computing market forecast period of 2018-2023. Growth in awareness about the quantum computing applications due to the rise in cybercrimes, in defense and in automotive units and BFSI along with certain initiatives so taken are the prime factors promoting enterprise quantum computing market growth. A Quantum computer is very much different than supercomputers and other conventional computers as it uses the latest technologically developed quantum phenomena. Here quantum bits are being used for processing the data. In quantum computing, the quantum dits are being used for downing the electron tunneling block when the two quantum dots couple up. This is an important growth development factor. Quantum computers deal with the standard of superposition where high computational power can be attained along with dealing with various other applications like drug discovery, machine learning, and cryptography.


COVID 19 ANALYSIS


In the aftermath of COVID 19 analyses had a huge impact on the market value. The market value of the industry was expected to reach USD 1761.5 million and is expected to reach USD 18336.5 million by 2030. Moreover, it is expected that the market covers a CAGR value of 29.7%. this owes to the rise in the adoption of modernized agricultural techniques which has helped in driving up the growth of the market in the review period. The outburst of COVID had brought a declination in software revenue in the growing period. The industry is expected to flourish after the recovery from COVID. Enterprises of various countries like the Asia Pacific have adopted certain techniques for improving their business along with rising up operational efficiency. Other based countries have experienced certain quantum applications for healthcare units and for life science sectors where transmission of viruses has been prohibited. The government has taken certain steps by implementing the lockdown and shutdown of the various regions for prohibiting the transfer of disease.


MARKET DYNAMICS



  • Drivers- high growth in funding in quantum computing technology, rise in demand for high-performance computing applications, high growth in medical research activities, and presence of financial market have driven up growth. Adopting securing platforms along with rising in the use of simulation and modeling has helped in driving up the market size. Following the new enterprises, quantum market trends and the emergence of on-premises quantum computers have provided certain growth opportunities for Development. Up

  • Opportunities- certain developments in artificial intelligence along with enterprise quantum computing market analysis of big data promote growth opportunities for market expansion. Quantum computing services can solve complex calculations as compared to other computing devices. The cloud segment doesn't require any investment for building up the IT infrastructure where all of the data are stored on cloud servers which rises up the demand of small-scale and medium-scale enterprises.

  • Challenges- compatibility-related issues along with the requirement of low temperature along with the use of applications for network communication are some of the challenging factors influencing the expansion of market size. Some of the challenges so associated, the stability and error correction issues is a challenging factors for growth.

  • Restraints- rise in complexity for implementation of quantum enterprise applications deteriorates the enterprise quantum computing market size. The presence of unskilled employees deteriorates the market size.


MARKET SEGMENTATION



  • By type- globally the market is classified into component, technology, vertical, deployment, technology, and region. Based on components, the enterprise quantum computing market is divided into hardware, software, and certain services. As per the deployment segment, the industry is being divided into on-cloud, premise, and hybrid. The cloud segment holds a major enterprise quantum computing market share. This is highly beneficial as it provided high security and privacy. Based on technique, the industry is being classified into superconducting, simulation, enterprise quantum annealing, and many more. Based on application, the market is being classified into data analytics, medical research, optimization, pattern recognition, automation, and many more. Regionally, the market is being expanded into the region of Europe, Asia Pacific, North America, and many more.

  • By technology- due to the growth of technology, the superconducting segment covered a large enterprise quantum computing market share where this new marketing trend was continued during the assessment period. Technology has helped in gaining a strategic and competitive advantage over the key vendors competing with each other. Technology led to the invention of microfabrication and semiconductor trend where it has experienced solid-state qubit.


REGIONAL ANALYSIS


From the Market Research Future study, you will get information about countries that hs been expanded regionally, in different regions of the United States, Canada, some of the Mexican region, North American region, Germany, the United States, Russia, France, Italy, Spain, including some of the Asia Pacific region of South Africa, Korean and Singapore. It also includes the region of the Middle East, South America, and the African region. It has been found that the North American region is the most dominating region followed by the region of Europe, some of the Asia Pacific region, and some rest regions of the world. Investing much more along with the rise in growing investment, especially in the region of the United States, rises up the demand of this region. Rise in research and developmental activities along with following the latest enterprise quantum computing market trends. The region of the United States covers a large enterprise quantum computing market share in the whole North American region. The presence of certain companies like Google, Intel, IBM company and many others are helping in driving up the market in the forecast period. The European region has been found to be the second-largest market covering a large area during the forecast period. Certain initiatives are taken by the government of different regions have an influential effect on the rise of enterprise quantum computing market size. The European Union covered a market value of about USD 1.2 billion having the aim to bring Europe to the top in the case of quantum computing. The United Kingdom covered a large enterprise quantum computing market share during the review period. The presence of certain competitors has helped in the development of the market. The market of the Asia Pacific region perturbs at a high growth rate owing to the coverage of high CAGR value. Adoption of innovative technology in countries of China, and South Korea has helped in the improvement of market size.


COMPETITIVE LANDSCAPE


Certain key vendors operating in the market are QRA Corp, Cisco Systems, Intel Corporation, Atos SE, D-Wave System Inc., Quantum Circuits Inc., Cambridge Quantum, Microsoft Corporation, Computing Ltd., Google, IBM Corporation, Qxbranch, QC Ware Corporation, Rigetgi and Co. Inc., and many more. These competitors are carrying out Quilts and following the new technology for exploring and overcoming the parallelity that has provided various growth opportunities. The upsurge in building a number of partnerships and collaborations along with adopting the advanced technology has influenced the growth during the review period from 2021 to 2028.


RECENT DEVELOPMENTS


The quantum company of the United Kingdom collaborated with the Honeywell quantum solutions of the United States leading the Company.


REPORT OVERVIEW


From the enterprise quantum computing market analysis it has been marked that the report continuously focuses on the rising growth prospects. It signifies the restraining factors affecting the growth of the market. The report studies the analysis of Porter's five forces and has an impact on various factors such as the bargaining power of the vendors, the key vendors so present, the risk associated with the entry of new vendors, the risk associated with the substitutes, and many more. The report provides an in-depth analysis of the new market trends and the future perspective. It gives insights into the estimation of imminent business pickets. It makes an impact analysis of the drivers, challenges, and opportunities.



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 2-3 Billion (2023)
  CAGR   34% (2018-2023)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   by Component, by Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   QRA Corp, Intel Corporation, D-Wave Systems Inc, Cambridge Quantum, Computing Ltd, QC Ware Corp., Rigetti & Co, Inc., QxBranch, Inc., IBM Corporation, Google LLC, Quantum Circuits, Inc., Microsoft Corporation, Cisco Systems, and Atos SE
  Key Market Opportunities

  • The major factors expected to hamper the market growth in coming years. \r\n
  • Whereas, developments in artificial intelligence and big data analytics is expected to offer various opportunities in the market.
  •   Key Market Drivers   The rising awareness about quantum computing in sectors such as BFSI, defense and automotive, increasing rate of cybercrimes, and stringency of government initiatives in developing quantum computing technology are some of the driving factors for market growth.


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    Frequently Asked Questions (FAQ) :

    North America to score more valuation for the global Enterprise Quantum Computing Market during the forecast period.

    A CAGR of 34% has been recorded for the growth of the market?

    QC Ware Corp., Intel Corporation, QRA Corp, Cambridge Quantum, Computing Ltd, D-Wave Systems Inc, are the key players are contributing to the market’s evolution to the greatest.

    Component, deployment, technology, application, vertical are the segments included in the market’s growth study.

    The rising awareness about quantum computing in sectors such as BFSI, defense and automotive, increasing rate of cybercrimes, and stringency of government initiatives in developing quantum computing technology are some of the driving factors for market growth.