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.
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.
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.
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.
The quantum company of the United Kingdom collaborated with the Honeywell quantum solutions of the United States leading the Company.
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.
|Market Size||USD 2-3 Billion (2023)|
|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||
|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.|
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.