Quantum Computing Market by Technology, Deployment, Offering, End-Use, Application

List of Tables

[186 Pages Report] The Quantum Computing Market size was estimated at USD 1.23 billion in 2023 and expected to reach USD 1.51 billion in 2024, at a CAGR 23.91% to reach USD 5.55 billion by 2030.

Quantum computing is an advanced area of computation that leverages the principles of quantum theory and quantum mechanics, which explains the behavior of energy and material on the quantum level. Unlike classical computers, which use bits as the basic unit of information, quantum computers use quantum bits or qubits. These qubits can simultaneously represent and store information in a quantum state, encompassing the dual '0' and '1' states through a superposition phenomenon. Additionally, qubits can be interconnected through quantum entanglement, which permits instantaneous correlation of states between qubits, regardless of physical distance. The increasing adoption of quantum mechanics and computing in the finance and banking sector and a rise in investments in quantum technology are expected to create lucrative market growth. Significant advancements in quantum hardware have been made, including developing more stable and reliable qubits, improving error correction techniques, and scaling up quantum processors that contributed to the market adoption. These advancements have led to the creation of more powerful and practical quantum computers, driving interest and investments in the technology. However, the limited availability of skilled professionals and the high cost associated with implementing and maintaining quantum computers may be significant challenges key companies face. International competition and collaboration in quantum research are anticipated to accelerate the growth of the quantum computing market in the forecasted period.

KEY MARKET STATISTICS
Base Year [2023]	USD 1.23 billion
Estimated Year [2024]	USD 1.51 billion
Forecast Year [2030]	USD 5.55 billion
CAGR (%)	23.91%

Technology: Integration of advanced technology in quantum computing to tackle complex algorithms while providing optimal solution

Quantum annealing is a quantum computing approach that focuses on solving optimization problems by leveraging the principles of quantum mechanics to find the lowest energy state of a complex system, corresponding to the optimal solution of the given situation. On the other hand, superconducting qubits are the significant technologies in quantum computing as they are based on circuits made from superconducting materials and are manipulated using microwave pulses. Topological and photonic qubits are two alternative approaches in quantum computing that are still in the early research stages. Trapped ions are another promising technology for quantum computing as they use individual ions (charged atoms) as qubits, which are trapped and manipulated using electromagnetic fields. In quantum computing, deployment technology refers to the infrastructure, techniques, and tools to implement and integrate quantum systems into practical applications.

End-Use: Adoption of quantum computing in varied industries offering accurate predictions and faster decision-making

Quantum computing holds transformative potential for various industries with its unparalleled computational power. In banking & finance, it enables complex financial modeling and risk analysis, optimizing trading strategies and fraud detection with unprecedented speed and accuracy. The chemicals industry benefits from accelerated material simulations and the discovery of new molecules, significantly shortening the time-to-market for novel products. In energy & power, quantum computing assists in developing more efficient energy systems and the potential for breakthroughs in fusion energy. The sector of healthcare & pharmaceuticals sees applications in drug discovery and protein folding, offering the opportunity to tackle diseases more effectively. While the space & defense sector leverages quantum computing for secure communication, surveillance, and solving complex optimization problems related to logistics and resource allocation.

Regional Insights

The Americas is at the forefront of quantum computing technology, with significant public and private investments. The United States government has allocated substantial funding for quantum research through initiatives that have seen the rise of startups and established corporations investing in quantum computing, reflecting a robust market demand for the quantum advantage in industries ranging from finance to pharmaceuticals. Consumers in this region have shown high interest in emerging technologies, indicating a promising market for quantum computing applications. At the same time, the European Union (EU) is actively endorsing quantum computing through research programs and initiatives aimed to facilitate the development of quantum technologies and stimulate consumer awareness. The EU's emphasis on privacy and security, coupled with investments in quantum research, underscores potential consumer demand for quantum cryptography and computing services within the region. Moreover, the Asia-Pacific region is rapidly emerging as a significant player in quantum computing, driven by substantial public and private investments. Governments across the region are launching initiatives and funding research programs to gain a competitive edge in this cutting-edge technology, recognizing its potential to revolutionize cybersecurity, finance, and pharmaceuticals. Key economies such as China, Japan, and South Korea are spearheading developments, with China making notable advancements in quantum communication and encryption. Corporate investments and partnerships fuel innovation, with tech giants and startups striving to build practical quantum computers and develop quantum applications.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Quantum Computing Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Quantum Computing Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Quantum Computing Market, highlighting leading vendors and their innovative profiles. These include 1QB Information Technologies Inc., Accenture PLC, Alibaba Group Holding Limited, Amazon Web Services, Inc., Anyon Systems, Inc., Arqit Limited, Atom Computing, Inc., Atos SE, Baidu, Inc., Cisco Systems, Inc., ColdQuanta, Inc., D-Wave Systems Inc., Fujitsu Limited, Google LLC by Alphabet Inc., Honeywell International Inc., Intel Corporation, International Business Machines Corporation, IonQ Inc., ISARA Corporation, Microsoft Corporation, Nvidia Corporation, PsiQuantum, Corp., QC Ware, Quantinuum Ltd., Quantum Circuits, Inc., Quantum Corporation, Quantum Simulation Technologies, Inc., Rigetti & Co, Inc., Riverlane Ltd, Salesforce, Inc., Silicon Quantum Computing, Strangeworks Inc., Toshiba Corporation, Xanadu Quantum Technologies Inc., and Zapata Computing, Inc..

Market Segmentation & Coverage

This research report categorizes the Quantum Computing Market to forecast the revenues and analyze trends in each of the following sub-markets:

Technology
- Quantum Annealing
- Superconducting Qubits
- Topological and Photonic
- Trapped Ions

Deployment
- Cloud-Based
- On Premise

Offering
- Consulting
- Quantum Computing as a Service (QCaaS)
- Services
- Systems

End-Use
- Banking & Finance
- Chemicals
- Energy & Power
- Healthcare & Pharmaceuticals
- Space & Defense

Application
- Machine Learning
- Optimization
- Quantum Chemistry
- Quantum Finance
- Simulation

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Quantum Computing Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Quantum Computing Market?

3. What are the technology trends and regulatory frameworks in the Quantum Computing Market?

4. What is the market share of the leading vendors in the Quantum Computing Market?

5. Which modes and strategic moves are suitable for entering the Quantum Computing Market?

Product Code: MRR-8A3707308FF5

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing Demand for Faster Data Operations, Secure Data Transfer, and Communications
  - 5.1.1.2. Early Adoption of Quantum Computing in Banking And Finance Industry
  - 5.1.1.3. Rise in Investments in Quantum Computing Technology
- 5.1.2. Restraints
  - 5.1.2.1. Dearth of Skilled Professional Coupled With Need For High Accuracy
- 5.1.3. Opportunities
  - 5.1.3.1. Market Instabilities Detected by Identifying Stock Market Risks and Optimize The Trading Trajectories, Portfolios, and Asset Pricing And Hedging
  - 5.1.3.2. Surge in Number of Strategic Partnerships and Collaborations to Carry out Advancements in Quantum Computing Technology
- 5.1.4. Challenges
  - 5.1.4.1. Highly Investment Intensive Process
5.2. Market Segmentation Analysis
- 5.2.1. Technology: Integration of advanced technology in quantum computing to tackle complex algorithms while providing optimal solution
- 5.2.2. End-Use: Adoption of quantum computing in varied industries offering accurate predictions and faster decision-making
5.3. Market Trend Analysis
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization

6. Quantum Computing Market, by Technology

6.1. Introduction
6.2. Quantum Annealing
6.3. Superconducting Qubits
6.4. Topological and Photonic
6.5. Trapped Ions

7. Quantum Computing Market, by Deployment

7.1. Introduction
7.2. Cloud-Based
7.3. On Premise

8. Quantum Computing Market, by Offering

8.1. Introduction
8.2. Consulting
8.3. Quantum Computing as a Service (QCaaS)
8.4. Services
8.5. Systems

9. Quantum Computing Market, by End-Use

9.1. Introduction
9.2. Banking & Finance
9.3. Chemicals
9.4. Energy & Power
9.5. Healthcare & Pharmaceuticals
9.6. Space & Defense

10. Quantum Computing Market, by Application

10.1. Introduction
10.2. Machine Learning
10.3. Optimization
10.4. Quantum Chemistry
10.5. Quantum Finance
10.6. Simulation

11. Americas Quantum Computing Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Quantum Computing Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Quantum Computing Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Rescale and IonQ Launch Partnership to Accelerate Innovation through Hybrid Quantum Computing
- 14.3.2. Quantinuum gets USD 300 Million from JPMorgan, Amgen, Mitsui, Honeywell
- 14.3.3. IBM Unveils Next-Gen 133-Qubit Heron Quantum Processor and its First Modular Quantum Computer

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio