Quantum Computing Market to Reach USD 451.2 Million by 2027 | CAGR 24.5% – Forencis Research

Quantum Computing Market - Global Industry Analysis and Forecast 2020 to 2027

Global Quantum Computing Market: Key Highlights

  • According to the new market research report Quantum Computing Market by Component (Hardware, Software, Services), by Application (Simulation, Optimization and Sampling), by End-User (Defense, Automotive, Healthcare, Chemicals, Banking & Finance and Energy & Power), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2020 to 2027)”, the global Quantum Computing Market is estimated to reach USD 451.2 Million by 2027 at a CAGR of around 24.5% during the review period.
  • The quantum computing is area of computing focused on developing computer technology, which based on the principles of quantum theory.
  • Moreover, the growth of quantum computers enhances the computing capability, with the performance gains for specific use cases, such as quantum computing excels at like simulations. These may lead to increase the demand of the market in the forecast period.

Quantum Computing Market

Global Quantum Computing Market: Key Market Dynamics

  • With the growing government investment in quantum computing technology is witness to fuel the growth of the market in the forecast period.
  • One of the major key concern of the quantum computing market is the lack of awareness which may hinder factor for the growth of the market.
  • Increasing cyber threat, across the globe as well as rising implementation of quantum computing technology across the various is excepted to boost the growth of the market in the forecast period.
  • The shortage of skilled professionals is one of the major factors that restraining the growth of the market during the forecast period.

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Global Quantum Computing Market: Regional Overview

  • Asia-Pacific:

The region is witness to create a major role of the adoption of the quantum computing market in the projected period. Whereas, rising adoption of quantum technology from banking and defense sectors in countries in the region is a major factor projected to boost growth of the region quantum computing market during the forecast period. Moreover, the region would be the fastest growing field for quantum computing.

Hence, these trend will lead to boost the quantum computing market in the projected period.

  • North America:

The region is expected to play a major role for the growth and developments of the quantum computing market in the forecast period. Whereas, North America are projected to lead due to the growing government investment in the field of quantum computing. Moreover, the US and Canada are technologically advanced countries, which is enabling a faster of adoption quantum computing tools in the region.

Hence, the region quantum computing market will witness substantial growth in the forecast period. Also the investment portfolio for R&D both private as well as public is also reflecting favorably on the market in the region.

Global Quantum Computing Market: Key Players Overview

  • D-Wave Systems Inc.:

D-Wave Systems, Inc. is a Canadian quantum computing company, which is the world first company to sell computers to exploit quantum effects in their operation. Whereas, in 2018, D-Wave has partnered with Denso Corporation, where Denso will use a D-Wave 2000Q system to enhance the efficiency of their automated guided vehicle (AGV) routing in their factories. Moreover, D-Wave systems use a process called quantum annealing to search for solutions to a problem.

  • IBM Corporation:

International Business Machines Corporation is an American multinational technology company. In 2018, QxBranch Inc. and IBM partnered to further develop quantum computing. Also, this will provide QXBranch with an opportunity to develop and validate commercial applications for business and government. Hence, IBM Quantum is an industry which has first initiative to build universal quantum computers for business, engineering and science.

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Published : 2020-09-09