The global Quantum Computing market is expected to experience significant growth in the coming years. According to a market research report, the market size was valued at USD 494.02 million in 2021 and is projected to reach USD 1890.42 million by 2027, with a compound annual growth rate (CAGR) of 25.06% during the forecast period of 2023-2030.
Quantum computing is a form of computing that utilizes quantum-mechanical phenomena like superposition and entanglement. It relies on qubits, which can exist in multiple states simultaneously, unlike traditional binary digital computers that use bits. This technology has the potential to revolutionize various industries such as defense, banking and finance, energy and power, chemicals, healthcare and pharmaceuticals, among others.
The market is being driven by several dynamic players, including Intel Corporation, Quantum Circuits, Inc, IBM, Magiq Technologies Inc., Rigetti Computing, D-Wave Systems Inc., Google Inc., Toshiba Corporation, and many more. These players are actively contributing to the growth and development of the Quantum Computing market in the information and communications technology (ICT) sector.
The market report segments the industry based on types, which include simulation, optimization, and sampling. It also categorizes the market based on applications such as defense, banking and finance, energy and power, chemicals, healthcare and pharmaceuticals, and others.
The report takes into account the impact of major events like the COVID-19 pandemic and the Russia-Ukraine war on the Quantum Computing market. It analyzes their effects on the global supply chain relationship and raw material price system. The report provides a comprehensive assessment of these impacts in various chapters.
Overall, this comprehensive market analysis offers valuable insights into industry competition and key players, including both global and regional players. It explores the potential growth of the Quantum Computing market and provides a detailed examination of its various types and applications. By considering the impact of significant events, the report offers a holistic view of the market’s development.
Sources:
- Market Growth Reports: LATEST Report of Quantum Computing Market 2023-2030 | Segmentation by: Types, Applications, Players, Regions