The Global Quantum Computing Market is projected to reach a value of over USD 451.2 million by 2027 at a CAGR of around 24.5%.
The quantum computing is area of computing focused on developing computer technology, which based on the principles of quantum theory. The theory helps to explain the nature as well as the behavior of energy and matter on the quantum level. Whereas, it uses a combination of bits to perform computational tasks. Moreover, there are various models of quantum computing such as the quantum circuit model, quantum Turing machine, one-way quantum computer, as well as the quantum cellular automata.
Hence, the growth of quantum computers enhance 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: Drivers & Restraints
- Growing Government Investment in Quantum Computing Technology
With the growing government investment in quantum computing technology is witness to fuel the growth of the market in the forecast period. Whereas, government are supporting for the development as well as deployment of the technology is prominent trend in the market, with the companies and public bodies is also realizing the important of a coordinated funding strategy.
Furthermore, in 2018 the National Quantum Initiative Act has become a law that includes a funding of more than USD 1 billion from the US House of Representatives for the National Quantum Initiative Program. Moreover, the aims behind the funding is to facilitate the growth of technology application as well as quantum information science.
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. Whereas, the lack of consumer awareness of the quantum computing as well as associate risks will create a challenging factor for the market. Moreover, the shortage of skilled professionals is one of the major factors that restraining the growth of the market during the forecast period.
Hence, with rising government investment as well as the intervention, quantum computing is projected to overcome this restraint.
Quantum Computing Market: Key Segments
- Segmentation based on Component: Hardware, Software and Services.
- Segmentation based on Application: Simulation, Optimization and Sampling.
- Segmentation based on End-User: Defense, Automotive, Healthcare, Chemicals, Banking & Finance and Energy & Power.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
Quantum Computing Market: Report Scope
The report on the quantum computing market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million)
Component, Application, End-User, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- D-Wave Systems Inc. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- IBM Corporation
- Rigetti & Co, Inc.
- Hewlett Packard Enterprise Development LP
- Nippon Telegraph and Telephone Corporation
- Hitachi, Ltd.
- Intel Corporation
- Northrop Grumman Corporation
- Other Key Companies
- Quantum Circuits, Inc.
- ZAPATA COMPUTING
- IonQ, Inc
Quantum Computing Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Quantum Computing Market, by Component
Quantum Computing Market, by Application
Quantum Computing Market, by End-User
- Banking & finance
- Energy & Power
Quantum Computing Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Quantum Computing Market Providers
- Quantum Computing Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Quantum Computing Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE QUANTUM COMPUTING MARKET STUDY