Market Scenario:

The global quantum computing market is witnessing considerable growth. Market growth attributes to the widespread quantum computing applications in the aerospace & defines sector, such as space exploration verification, critical modelling, and aerodynamic performance simulation. Besides, increasing implementations of machine learning and quantum computers to recognize objects by detecting recurring patterns drive the market growth exponentially.

The Quantum Computing Market is anticipated to grow by US$2.82 billion by 2023 rapidly growing at a CAGR of 34% during the forecast period 2018-2023.

The details covered in the quantum computing market report cover all the aspects of the industry. Quantum computing market analysts have also shared growth projections in the report and have suggested quantum computing market players to plan growth strategies accordingly.

COVID-19 Analysis:

The business impact of SARS-CoV-2 has been felt across diverse sections of the information technology industry, albeit at different levels. Companies in the technology sector that supply services for verticals like travel, retail, hospitality, and entertainment have noted a dramatic decrease in sales, while the firms that provide services related to remote worker solutions have observed the opposite. Quantum Computing Market ’s fate post pandemic has been relatively less grim compared to Education Services (ES) and Professional Services (PS) that are mostly dependent on components that are generally on-site. Novel coronavirus has Quantum Computing Market   to open new avenues for those firms that are on the lookout for solutions that are reliable, efficiently managed, scalable, and are subscription-based, to remain more focused on the core business. The Quantum Computing Market is bearing lesser impact of the COVID-19 outbreak compared to most other segments of the tech world.

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Competitive Outlook:

The quantum computing market is supported by escalated investment levels being directed from the governments. The population growth around the world and increasing demand of quantum computing market-based services and products also support the market growth. However, the quantum computing market growth can be affected due to a poor operational environment and lack of well-developed technology infrastructure. The report covers all such details which will help companies in the quantum computing market to strengthen their business plan and improve their product portfolio. The quantum computing market research report also provides company profiles of major companies. The company profile of organizations operating in the quantum computing market discusses strategies, growth plans, size, revenue, and mergers and acquisition details of top companies in the quantum computing market. New entrants and established players can plan their strategies based on this data provided in the quantum computing market research report.

Segmentation:

The global quantum computing market has been segmented based on application, product, and vertical. Based on application, the market for quantum computing is segmented based on machine learning, optimization, simulation, and others. Additionally, the market based on product, is segmented into hardware, software, and services. The global market for quantum computing is also covered based on the vertical segment which is further split into aerospace & defence, energy & power, BFSI, information technology & telecommunication, healthcare, transportation, and others.

Regional Analysis:

North America leads the global quantum computing market. The largest market share attributes to the presence of technology leaders such as IBM Corporation, Google, Intel, and several others. Besides, usages of quantum computers by government agencies and aerospace & defense for machine learning drive the growth of the regional market. 

Increasing research and development investments for quantum computers, quantum computing applications, and quantum computing maths is a major market driving force. The US, backed by huge technological advances, holds the highest market share in the regional market. The North American quantum computing market is estimated to retain its dominance throughout the forecast period.

Europe stands second in the global quantum computing market. The market growth is driven by substantial investments by companies as well as governments in the region. Additionally, multiple initiatives by governments in various countries in this region impact the growth of the market positively. 

The presence of major players such as Cambridge Quantum Computing Ltd facilitates the development of quantum technology in the region. The European global quantum computing market is expected to show positive growth over the review period.

The Asia Pacific quantum computing market is growing at a rapid pace. Factors such as the vast adoption of quantum computers and rapid growth in manufacturing sectors boost the regional market growth. Furthermore, major developments in quantum computing technology in China and South Korea and the adoption of quantum computers in the BFSI sector influence the regional market growth. 

APAC countries like China, Japan, and India are witnessing the use of quantum computers to optimize tasks. The APAC quantum computing market would show huge growth by the forecast period.

Industry News:

The global Quantum computing market Trends has been affected due to the lockdown across the regions. This pandemic situation has hampered the Quantum computing market Growth as well as its productivity, supply chain, and others. Moreover, the global market has lost its investors due to the increasing loss for the products, supply, transportation, workforce, and others. However, in the meantime, the key market players have implied various strategic techniques to boost global market growth. Thus, to meet the global market demands, the global market increased its speed in producing more valuable products for its intended customers. Recently, the global market has stabilized its position in the global market and is expected to register a higher Quantum computing market Size for the forecast period.

Table of Contents:

1          Executive Summary

2          Scope of the Report

2.1       Market Definition

2.2       Scope of the Study

2.2.1    Research objectives

2.2.2    Assumptions & Limitations

2.3       Markets Structure

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List of Tables

TABLE 1 LIST OF ASSUMPTIONS 21

TABLE 2 GLOBAL QUANTUM COMPUTING MARKET, BY PRODUCT TYPE, 2020–2027 (USD MILLION) 31

TABLE 3 GLOBAL QUANTUM COMPUTING MARKET, BY APPLICATION, 2020–2027 (USD MILLION) 34

Continued…

List of Figures

FIGURE 1 GLOBAL QUANTUM COMPUTING MARKET: MARKET STRUCTURE 15

FIGURE 2 TOP DOWN & BOTTOM-UP APPROACH 21

FIGURE 3 DROC ANALYSIS OF GLOBAL QUANTUM COMPUTING MARKET 24

Continued…

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