Quantum Computing Market, By Component (Hardware, Software, and Services), By Application (Simulation, Optimizing, and Sampling), By End-Use Industry (Defense Healthcare and Pharmaceuticals, Chemicals, Banking & Finance, and Energy & Power), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Trends, Analysis and Forecast till 2029

Introduction

Quantum theory and quantum mechanics are the foundation of a sort of cutting-edge computer technology called quantum computing. Quantum computing, which adheres to the principles of quantum physics, has been implemented using the quantum computer. In terms of speed, bits, and data, it differs from traditional computing. Quantum computing uses all the states between 0 and 1, which aids in improved results and fast speed, as opposed to classical computing, which only uses the two bits 0 and 1. In research, quantum computing is mostly used to compare various solutions and identify the best one for a challenging problem. Chemicals, utilities, healthcare & pharmaceuticals, defense, and many more industries have employed it. Applications including machine learning, cryptography, algorithms, quantum simulation, quantum parallelism, and others employ quantum computing. Since quantum computing has the potential to speed up pharmaceutical discovery and improve the accuracy of the atmospheric models to explain climate change and its effect, it will be helpful in increasing solutions to challenging different fields. Additionally, batteries with higher energy densities, more efficient catalytic and synthetic processes, and favourable strength to weight ratios of the material all assist the automotive, electronics, and aerospace industries. The Global Quantum Computing Market size accounted for US$ 387.3 billion in 2020 and is estimated to be US$ 4531.04 billion by 2030 and is anticipated to register a CAGR of 28.2%.

COVID-19 Impact:

Due to the increasing importance of digital computing solutions, this sector is anticipated to benefit from the COVID-19 pandemic. Work-from-home policies and digitalization may become more popular as a result of the alarming increase in COVID patients and the appearance of new viral strains. Rapid digitalization and the use of cutting-edge software could increase product uptake. Additionally, it is anticipated that the growing popularity of e-commerce will aid in the advancement of industry throughout the pandemic.

Rising demand for high-performance computing

The market for quantum computing is expanding due to the rising demand for high-performance computing. The global quantum computing market is expanding as a result of reasons such as rising demand for Software-as-a-Service (SaaS) business models, rising datacenter workloads, and complicated processor designs in traditional binary computing systems. A classical binary computing system stores data in tiny transistors, with each transistor holding a single "bit" of information like a 0 or a 1. In contrast, quantum computing relies on a phenomenon called superposition, which simultaneously stores and processes a 1 and a 0 and is much more powerful than a classical-quantum computing system.

Governments' increasing investments in quantum computing technology will also help the quantum computing market expand. The strategic balance of power, military affairs, and trade can all be affected by quantum computing technologies. In order to construct and develop quantum computing solutions, governments from many nations intend to enhance exploratory research on new technologies. The worldwide quantum computing market is anticipated to increase as governments make increasing expenditures in quantum computing solutions for a wide range of applications.

However, technical and execution issues limit market expansion. Research is still being done on quantum computing engineering. There are many technological difficulties in putting quantum computing technology into real-time applications. Since any environmental interaction will cause the state function to collapse, quantum computers are particularly sensitive to environmental interactions. The creation of physical universal computers that can be utilized for real-time applications has only been theoretically shown, and it is yet unclear exactly how quantum computing solutions will affect the way that information is now processed. These are the driving forces behind the gap that has grown between research institutions, investment firms, and the corporate environment, which is predicted to have a negative impact on the development of the global quantum computing market.

Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report

The Global Quantum Computing Market is segmented based on component, application, end-user industry and region.

Component Insights

On the basis of Component, the Global Quantum Computing Market is segmented into Hardware, Software, and Services.  The expansion of this services market can be attributed to the rise in the number of companies investing in quantum computing research and development on a global scale. The use of this technology to optimization, modelling, and machine learning applications results in the lowest possible usage costs and extremely effective operations across a range of end-use sectors.

Application Insights

On the basis of Application, the target market is segmented into Simulation, Optimizing, and Sampling. During the forecast period, the material simulation application is anticipated to dominate the quantum computing market for consulting services. In the upcoming years, there will likely be a sharp rise in the demand for optimization and material simulation applications on quantum computers. These applications are finding potential in end-user industries including automotive, chemicals, energy and power, and healthcare thanks to the desire to solve complicated issues with simultaneous operations and model molecules and materials to produce an exact result. In the upcoming years, the market for quantum computing is projected to expand due to the significant R&D and growth strategies used by the businesses and research labs working in the ecosystem.

End-User Industry Insights

Based on End-User, the target market is segmented into Defense Healthcare and Pharmaceuticals, Chemicals, Banking & Finance, and Energy & Power.

Regional Insights:

Global Quantum Computing Market size accounted for US$ 387.3 billion in 2020 and is estimated to be US$ 4531.04 billion by 2030 and is anticipated to register a CAGR of 28.2%. On region the Global Quantum Computing Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. During the forecast period, the APAC quantum computing market is anticipated to develop at the highest CAGR. Healthcare, banking, the auto industry, and chemicals are just a few of the sectors where APAC is a major hub. The world's largest maker of automobiles is located in this area. Additionally, China, Japan, and South Korea are the region's major producers of consumer electronics products such smartphones, laptops, and gaming consoles.

Report Scope:

Attribute	Details
Base year for estimation	2020
Forecast period	2020 – 2030
Market representation	Revenue in USD Million & CAGR from 2020 – 2030
Market Segmentation	By Component – Hardware, Software, and Services By Application– Simulation, Optimizing, and Sampling By End-User Industry– Defense Healthcare and Pharmaceuticals, Chemicals, Banking & Finance, and Energy & Power
Regional scope	North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
Report coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends

Recent Development:

• In November 2021, Zurich Instruments made a revolutionary Superconducting Qubit Controller announcement. To fit 6 qubits in a device, the qubit control and readouts are integrated. Microwave pulses are generated by the SHFSG Signal Generator, and the SHFQA Quantum Analyzer is combined in one box. Companies might be able to attract customers and improve their brand's reputation abroad.
• In November 2021, Virginia Tech received USD 12.5 million from Northrup Grumman for quantum technology teaching and research. The Center for Quantum Software Development in Alexandria, Virginia, may be able to build its architecture thanks to this financing.

Global Quantum Computing Market, By Region:

• • • North America
      • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

The leading players operating in the Global Quantum Computing Market includes

• Wave Systems Corp creates hardware-based software for data encryption, authentication, virus detection, and protection against data loss.
• 1QB Information Technologies Inc. is a Vancouver, British Columbia-based provider of software for quantum computing.
• QC Ware Corp are entrepreneur who creates enterprise software for quantum computing
• Google Inc. focuses on artificial intelligence, search engine technology, online advertising, cloud computing, computer software, quantum computing, e-commerce, and consumer electronics. It is an American global technology firm.
• QxBranch LLC is a Washington, D.C.-based software startup that specialises in quantum computing and data analysis. In addition to offering data analytics services, the business also conducts research and development on quantum computing.
• Microsoft Corporation is a multinational technology company based in the United States that makes personal computers, consumer devices, computer software, and related services.
• International Business Machines Corporation is an American multinational technology firm with activities in more than 171 countries with a headquarters in Armonk, New York.
• Huawei Technologies Co., Ltd is a Chinese technology company with a global presence that has its headquarters in Shenzhen, Guangdong, China.
• ID Quantique SA is a Swiss firm with headquarters in Geneva, Switzerland, that offers hardware random number generators, single photon counters, quantum key distribution systems, and quantum secure network encryption.
• Atos SE is a multinational French firm offering consulting and IT services with branches all over the world with a headquarters in Bezons, France.

Table of Contents

1. Research Objective and Assumption
   • Research Objectives
   • Assumptions
   • Abbreviations
2. Market Purview
   • Report Description
     • Market Definition and Scope
   • Executive Summary
     • Market Snippet, By Component
     • Market Snippet, By Application
     • Market Snippet, By End-Use Industry
     • Market Snippet, By Region
   • Opportunity Map Analysis
3. Market Dynamics, Regulations, and Trends Analysis
   • Market Dynamics
     • Drivers
     • Restraints
     • Market Opportunities
   • Market Trends
   • Product Launch
   • Impact Analysis
   • PEST Analysis
   • Porter’s Analysis
4. Global Quantum Computing Market, By Component, 2019 – 2029, (US$ Mn)
   • Overview
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
     • Y-o-Y Growth Analysis (%), 2019 – 2029
     • Segment Trends
   • Hardware
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Software
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Services
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
5. Global Quantum Computing Market, By Application, 2019 – 2029, (US$ Mn)
   • Overview
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
     • Y-o-Y Growth Analysis (%), 2019 – 2029
     • Segment Trends
   • Simulation
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Optimization
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Sampling
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
6. Global Quantum Computing Market, By End-Use Industry, 2019 – 2029, (US$ Mn)
   • Overview
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
     • Y-o-Y Growth Analysis (%), 2019 – 2029
     • Segment Trends
   • Defense
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Healthcare and Pharmaceuticals
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Chemicals
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Banking and Finance
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
   • Energy and Power
     • Overview
     • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
7. Global Quantum Computing Market, By Region, 2019 – 2029, (US$ Mn)
   • Overview
     • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
     • Y-o-Y Growth Analysis (%), 2019 – 2029
     • Regional Trends
   • North America
     • Market Size and Forecast (US$ Mn), By Component, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By End-Use Industry, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
       • U.S.
       • Canada
   • Europe
     • Market Size and Forecast (US$ Mn), By Component, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By End-Use Industry, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
       • Germany
       • UK
       • France
       • Russia
       • Italy
       • Rest of Europe
   • Asia Pacific
     • Market Size and Forecast (US$ Mn), By Component, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By End-Use Industry, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
       • China
       • India
       • Japan
       • South Korea
       • Rest of Asia Pacific
   • Latin America
     • Market Size and Forecast (US$ Mn), By Component, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By End-Use Industry, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
       • Brazil
       • Mexico
       • Rest of Latin America
   • Middle East & Africa
     • Market Size and Forecast (US$ Mn), By Component, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By End-Use Industry, 2019 – 2029
     • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
       • GCC
       • Israel
       • South Africa
       • Rest of Middle East & Africa
8. Competitive Landscape
   • Heat Map Analysis
   • Company Profiles
     • Wave Systems Corp
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • 1QB Information Technologies Inc
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • QC Ware, Corp
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • Google Inc
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • QxBranch LLC
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • Microsoft Corporation
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • International Business Machines Corporation
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • Huawei Technologies Co., Ltd
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • ID Quantique SA
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
     • Atos SE
       • Company Overview
       • Product Portfolio
       • Key Highlights
       • Financial Overview
   • Analyst Views
9. Section
   • Research Methodology
   • About Us
   • Contact