Quantum Computing Market
Quantum Computing Market Size, Share & Trends Analysis Report Market by Technology (Superconducting qubits, Trapped ion qubits, Photonic qubits and Other (Neutral Atoms and Quantum Dots)), by Application (Artificial Intelligence, Cybersecurity, Climate Change and Weather Forecasting, Cryptography, Drug Discovery, Materials Science, Financial Modeling, and Other) Forecast Period (2023-2030) Update Available - Forecast 2024-2030
Quantum computing market is anticipated to grow at a considerable CAGR of 30.6% during the forecast period. Quantum computing is a multidisciplinary field that uses quantum mechanics to solve problems that are too complex for traditional computers. Quantum computing is a rapidly emerging technology that includes hardware research and application development. Quantum computers are expected to be much faster than traditional computers for certain types of tasks which is creating demand for quantum computers from industries such as finance, healthcare, and materials science. Quantum computers could be used to develop new financial models that are more accurate and efficient than existing models. This could help banks and other financial institutions to make better decisions about risk and investment. For example, JPMorgan Chase is using quantum computing to develop new models for predicting stock prices and market volatility.
Quantum computers could be used to simulate the behavior of molecules and proteins. This could help scientists to develop new drugs and treatments for diseases. For example, Pfizer is using quantum computing to develop new drugs to treat cancer and Alzheimer's disease. Quantum computers could be used to design new materials with improved properties, such as strength, lightness, and conductivity. This could have a major impact on industries such as aerospace and automotive. For example, Airbus is using quantum computing to design new materials for aircraft that are lighter and stronger, which could improve fuel efficiency.
Segmental Outlook
The global quantum computing market is segmented based on technology and application. Based on technology, the market is sub-segmented into superconducting qubits, trapped ion qubits, photonic qubits and other. Based on application, the market is sub-segmented into artificial intelligence, cybersecurity, climate change and weather forecasting, cryptography, drug discovery, materials science, financial modeling, and other.
Hardware is a major component of quantum computers and is also the most expensive component. The hardware segment is also the most technologically complex segment of the quantum computing market. The hardware segment of the quantum computing market is dominated by a few large companies, such as IBM, Google, and Intel. These companies are developing a variety of quantum computing hardware technologies, including superconducting qubits, trapped ion qubits, and photonic qubits.
Regional outlooks
The global quantum computing market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Among these, North America contributes a major share of the whole market. This is due to several factors, including the presence of leading quantum computing companies such as IBM, Google, and Microsoft in the region, the high demand for high-performance computing from industries such as finance, healthcare, and materials science, and the strong government support for quantum computing research and development.
Global Quantum Computing Market Growth, by Region 2023-2030
Asia-Pacific is Expected to Grow at a Significant CAGR in the Global Quantum Computing Market
Asia-Pacific has the second-largest market for quantum computing. This region is continuing to grow at a consistent pace. This is due to several factors, including rapid economic growth, the presence of large technology companies, and growing investment in quantum computing research and development. The Asia-Pacific region is home to several large technology companies such as Alibaba, Baidu, and Tencent. These companies are investing heavily in quantum computing research and development, and they are also developing quantum computing applications for their businesses. Last year, in August 2022, Baidu, Inc. announced its first superconducting quantum computer that fully integrates hardware, software, and applications. In addition, Baidu also introduced the world's first all-platform quantum hardware-software integration solution that provides access to various quantum chips via mobile app, PC, and cloud. This continuous research and development is helping to drive the growth of the quantum computing market in the region.
Market Players Outlook
The major companies serving the global quantum computing market include Rigetti & Co, Inc., Google LLC, IBM, Intel Corp., Microsoft Corp., Alibaba Group Holding Ltd., AWS, Baidu, Inc., Fujitsu Ltd., Honeywell International Inc., IonQ, Inc., and Quantinuum, Ltd., among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in June 2023, Quandela inaugurated its first factory for manufacturing quantum computers in Massy (France). The opening represents a remarkable achievement for Quandela and positions the company at the forefront of the quantum computing industry. In 2022, Quandela released its photonic computer programming and simulation software, Perceval, and signed a hosting partnership with OVHcloud to strengthen the user community. The company offers a cybersecurity enhancement solution with a 2-qubit processor and made its first 6-qubit NISQ quantum computer available in the cloud in the fall of 2022. In March 2023, OVHcloud purchased the first on-premises Quandela quantum computer that will be delivered this fall. Quandela also supports and advises companies and organizations, such as EDF, MBDA and ONERA, in the exploration and development of the first use cases.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global quantum computing market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Google LLC
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. IBM Corp.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Rigetti & Co, Inc.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
4. Market Segmentation
4.1. Global Quantum Computing Market by Technology
4.1.1. Superconducting Qubits
4.1.2. Trapped Ion Qubits
4.1.3. Photonic Qubits
4.1.4. Other (Neutral Atoms and Quantum Dots)
4.2. Global Quantum Computing Markey by Application
4.2.1. Artificial Intelligence
4.2.2. Cryptography
4.2.3. Drug Discovery
4.2.4. Cybersecurity
4.2.5. Materials Science
4.2.6. Financial Modeling
4.2.7. Climate Change and Weather Forecasting
4.2.8. Other
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Alibaba Group Holding Ltd.
6.2. Alpine Quantum Technologies GmbH
6.3. Amazon Web Services, Inc.
6.4. Atom Computing
6.5. Baidu, Inc.
6.6. CIQTEK
6.7. ColdQuanta
6.8. D-Wave Systems Inc.
6.9. Diraq Pty. Ltd.
6.10. eleQtron GmbH
6.11. Fujitsu Ltd.
6.12. Hitachi, Ltd.
6.13. Honeywell International Inc.
6.14. Huawei Technologies Co. Ltd.
6.15. IonQ, Inc.
6.16. IQM Finland Oy
6.17. Microsoft Corp.
6.18. NEC Corp.
6.19. NTT Corp.
6.20. ORCA Computing
6.21. Origin Quantum
6.22. Pasqal (merged with Qu&Co)
6.23. PsiQuantum, Corp.
6.24. Quandela
6.25. Quantinuum, Ltd.
6.26. Quantum Computing, Inc.
6.27. Quantum Motion
6.28. QuEra Computing Inc.
6.29. Toshiba Corp.
6.30. Xanadu Quantum Technologies Inc.
1. GLOBAL QUANTUM COMPUTING MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2023-2030 ($ MILLION)
2. GLOBAL SUPERCONDUCTING QUBITS COMPUTING MARKET RESEARCH AND ANALYSIS BY REGION,2023-2030 ($ MILLION)
3. GLOBAL TRAPPED ION QUBITS COMPUTING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2030 ($ MILLION)
4. GLOBAL PHOTONIC QUBITS COMPUTING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2030 ($ MILLION)
5. GLOBAL OTHER QUANTUM COMPUTING TYPE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2030 ($ MILLION)
6. GLOBAL QUANTUM COMPUTING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2030 ($ MILLION)
7. GLOBAL QUANTUM COMPUTING IN ARTIFICIAL INTELLIGENCE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2030 ($ MILLION)
8. GLOBAL QUANTUM COMPUTING IN CYBERSECURITY MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2030 ($ MILLION)
9. GLOBAL QUANTUM COMPUTING IN CLIMATE CHANGE AND WEATHER FORECASTING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2030 ($ MILLION)
10. GLOBAL QUANTUM COMPUTING IN CRYPTOGRAPHY MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2030 ($ MILLION)
11. GLOBAL QUANTUM COMPUTING IN DRUG DISCOVERY MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2030 ($ MILLION)
12. GLOBAL QUANTUM COMPUTING IN MATERIALS SCIENCE MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2030 ($ MILLION)
13. GLOBAL QUANTUM COMPUTING IN FINANCIAL MODELING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2030 ($ MILLION)
14. GLOBAL QUANTUM COMPUTING IN OTHER APPLICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2030 ($ MILLION)
15. GLOBAL QUANTUM COMPUTING MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2030 ($ MILLION)
16. NORTH AMERICAN QUANTUM COMPUTING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2030 ($ MILLION)
17. NORTH AMERICAN QUANTUM COMPUTING MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2023-2030 ($ MILLION)
18. NORTH AMERICAN QUANTUM COMPUTING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2030 ($ MILLION)
19. EUROPEAN QUANTUM COMPUTING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2030 ($ MILLION)
20. EUROPEAN QUANTUM COMPUTING MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2023-2030 ($ MILLION)
21. EUROPEAN QUANTUM COMPUTING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2030 ($ MILLION)
22. ASIA-PACIFIC QUANTUM COMPUTING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2030 ($ MILLION)
23. ASIA-PACIFIC QUANTUM COMPUTING MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2023-2030 ($ MILLION)
24. ASIA-PACIFIC QUANTUM COMPUTING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2030 ($ MILLION)
25. REST OF THE WORLD QUANTUM COMPUTING MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2030 ($ MILLION)
26. REST OF THE WORLD QUANTUM COMPUTING MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2023-2030 ($ MILLION)
27. REST OF THE WORLD QUANTUM COMPUTING MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2023-2030 ($ MILLION)
1. GLOBAL QUANTUM COMPUTING MARKET SHARE BY TECHNOLOGY, 2023 VS 2030 (%)
2. GLOBAL SUPERCONDUCTING QUBITS COMPUTING MARKET SHARE BY REGION, 2023 VS 2030 (%)
3. GLOBAL TRAPPED ION QUBITS COMPUTING MARKET SHARE BY REGION, 2023 VS 2030 (%)
4. GLOBAL PHOTONIC QUBITS COMPUTING MARKET SHARE BY REGION, 2023 VS 2030 (%)
5. GLOBAL OTHER COMPUTING MARKET SHARE BY REGION, 2023 VS 2030 (%)
6. GLOBAL QUANTUM COMPUTING MARKET SHARE BY APPLICATION, 2023 VS 2030 ($ MILLION)
7. GLOBAL QUANTUM COMPUTING IN ARTIFICIAL INTELLIGENCE MARKET SHARE BY REGION, 2023 VS 2030 (%)
8. GLOBAL QUANTUM COMPUTING IN CYBERSECURITY MARKET SHARE BY REGION, 2023 VS 2030 (%)
9. GLOBAL QUANTUM COMPUTING IN CLIMATE CHANGE AND WEATHER FORECASTING MARKET SHARE BY REGION, 2023 VS 2030 (%)
10. GLOBAL QUANTUM COMPUTING IN CRYPTOGRAPHY MARKET SHARE BY REGION, 2023 VS 2030 (%)
11. GLOBAL QUANTUM COMPUTING IN DRUG DISCOVERY MARKET SHARE BY REGION, 2023 VS 2030 (%)
12. GLOBAL QUANTUM COMPUTING IN MATERIALS SCIENCE MARKET SHARE BY REGION, 2023 VS 2030 (%)
13. GLOBAL QUANTUM COMPUTING IN FINANCIAL MODELING MARKET SHARE BY REGION, 2023 VS 2030 (%)
14. GLOBAL QUANTUM COMPUTING IN OTHER APPLICATION MARKET SHARE BY REGION, 2023 VS 2030 (%)
15. GLOBAL QUANTUM COMPUTING MARKET SHARE BY REGION, 2023 VS 2030 (%)
16. US QUANTUM COMPUTING MARKET SIZE, 2023-2030 ($ MILLION)
17. CANADA QUANTUM COMPUTING MARKET SIZE, 2023-2030 ($ MILLION)
18. UK QUANTUM COMPUTING MARKET SIZE, 2023-2030 ($ MILLION)
19. FRANCE QUANTUM COMPUTING MARKET SIZE, 2023-2030 ($ MILLION)
20. GERMANY QUANTUM COMPUTING MARKET SIZE, 2023-2030 ($ MILLION)
21. ITALY QUANTUM COMPUTING MARKET SIZE, 2023-2030 ($ MILLION)
22. SPAIN QUANTUM COMPUTING MARKET SIZE, 2023-2030 ($ MILLION)
23. REST OF EUROPE QUANTUM COMPUTING MARKET SIZE, 2023-2030 ($ MILLION)
24. INDIA QUANTUM COMPUTING MARKET SIZE, 2023-2030 ($ MILLION)
25. CHINA QUANTUM COMPUTING MARKET SIZE, 2023-2030 ($ MILLION)
26. JAPAN QUANTUM COMPUTING MARKET SIZE, 2023-2030 ($ MILLION)
27. SOUTH KOREA QUANTUM COMPUTING MARKET SIZE, 2023-2030 ($ MILLION)
28. REST OF ASIA-PACIFIC QUANTUM COMPUTING MARKET SIZE, 2023-2030 ($ MILLION)
29. LATIN AMERICA QUANTUM COMPUTING MARKET SIZE, 2023-2030 ($ MILLION)
30. MIDDLE EAST AND AFRICA QUANTUM COMPUTING MARKET SIZE, 2023-2030 ($ MILLION)
