Global Quantum Computing Market Size, Share, Growth Analysis, By Component(Hardware, Software), By Deployment(On-Premise, Cloud-Based), By Application(Machine learning, Data Optimization), By End-user(Health Care, Banking) - Industry Forecast 2023-2030

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FAQ's

Global Quantum Computing Market size was valued at USD 7.41 billion in 2021 and is poised to grow from USD 10.13 billion in 2022 to USD 125 billion by 2030, growing at a CAGR of 36.89% in the forecast period (2023-2030).

The Quantum Computing market is relatively fragmented, with a high level of competition. Few large players, like IBM Corporation, Cambridge Quantum Computing Ltd., and Intel Corporation, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability. 'IBM Quantum', 'Google Quantum AI', 'Honeywell Quantum Solutions', 'Rigetti Computing', 'IonQ', 'Alibaba Quantum Computing Laboratory', 'Microsoft Quantum', 'Xanadu', 'PsiQuantum', 'Zapata Computing', 'Cambridge Quantum Computing', 'D-Wave Systems', 'Quantum Motion', 'QuTech', 'Atos Quantum', 'Toshiba Quantum Information Group', 'Accenture Quantum Computing', 'Fujitsu Quantum-Inspired Computing', 'Intel Quantum', 'NEC Corporation Quantum Computing'

Increasing govt intervention in the field of quantum computing is one of the major factors for the segment’s tremendous growth. The use of this technology in the field of the military and space sector is unavoidable and it saves a lot of cost for the organizations this, in turn, propels the demand for the quantum computing market.

The growing use of AI and machine learning in various fields is demanding the use of quantum computing for the faster execution of algorithms and data optimization. This allows financial institutes to solve more complex problems and also gives a computational boost to other processes and other algorithms too. Raising investment in quantum computing research & development purpose is driving the industrial growth throughout the given period.

In the year 2021, North America has dominated the quantum computing market with the largest share of market revenue. This is due to the early adoption of technology and innovation in quantum computing and machine learning which has enabled it to dominate the segment over the forecast period.

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