Global Quantum Computing Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Quantum Computing Market Overview:

The Quantum Computing Market was valued at $24 million in 2020 & is projected to reach $34 million by 2030. It is expected to grow at a 5% CAGR between 2021 and 2030.

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Quantum Computing Market Report offers in-depth insights, revenue details, and other vital information regarding the global quantum computing market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027.

The Quantum Computing Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, future strategies, acquisitions & mergers, and market footprint.

The global quantum computing market report has been segmented based on component, application, end-use industry, and region.

Quantum computing is a type of computing that focuses on developing computer technology using quantum physics to process information at the atomic and subatomic levels.

Quantum computing operates with nanoscale components at temperatures colder than interplanetary space.

Quantum computers are expected to facilitate discoveries in various sectors such as energy, healthcare, smart materials, environmental systems, etc.

Quantum Computing Market Dynamics:

The increasing adoption of quantum technology in the healthcare and defense sectors is a major factor driving the growth of the global quantum computing market.

Moreover, strategic collaborations between major players to provide advanced quantum-based artificial intelligence services and solutions are other factors expected to fuel the global market growth during the forecast period significantly.

For instance, in 2017, Fujitsu Corporation collaborated with 1QB Information Technologies Inc. to develop quantum-inspired technology that can be deployed in artificial intelligence to provide applications and solutions for various industry problems.

The availability of substitute technology is a major factor hampering the growth of the global quantum computing market.

Increasing investment in research and development activities to develop low-cost and efficient quantum computing technology is a major factor expected to create lucrative opportunities for major players in the global market during the forecast period.

Quantum Computing Market Segment Analysis:

Based on the end-use industry, the global market is segmented into defense, healthcare & pharmaceuticals, chemicals, banking & finance, and energy & power. The defense segment accounts for a considerable share of revenue in the global market.

Quantum Computing Market Regional Analysis:

The North American market accounts for the highest share in terms of revenue in the global quantum computing market. It is expected to maintain its dominance in the global market during the forecast period.

The presence of major players and increasing investments in research and development of quantum computers are major factors driving the growth of the North American quantum computing market.

The Europe quantum computing market is expected to register significant revenue growth and is projected to register a CAGR of X.X% over the forecast period.

The Asia Pacific quantum computing market is expected to register the highest CAGR in terms of revenue in the global market during the forecast period.

The increasing adoption of quantum technology from banking and defense sectors in countries in the region is a major factor expected to drive the growth of the Asia Pacific quantum computing market during the forecast period.

Quantum Computing Market Segmentation:

Segmentation on the basis of component:

• Hardware
• Software
• Services

Segmentation on the basis of application:

• Simulation
• Optimization
• Sampling

 Segmentation on the basis of end-use industry:

• Defense
• Healthcare & pharmaceuticals
• Chemicals
• Banking & finance
• Energy & power

Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa