The global quantum computing market is poised for significant growth in the coming years, with a projected CAGR of 34% during the forecast period of 2018-2023. In 2018, the market experienced substantial growth, particularly in the BFSI sector, and this trend is expected to continue in 2019 and beyond. The public sector also presents a significant growth opportunity for the market. As the application opportunities for quantum computing expand, there is likely to be a higher demand for the technology in various industries.
Market segmentation in the global quantum processing market is based on application, vertical, product type, and regional demand. The applications of quantum computing include machine learning, optimization, simulation, and others. The verticals that adopt quantum computing technology are BFSI, aerospace and defense, energy and power, healthcare, transportation, information technology and telecommunication, and others. The product types in the market include software, hardware, and services.
The global quantum computing market is geographically divided into Europe, North America, Asia-Pacific, Middle East, LATAM, and Africa.
Major players in the global quantum processing market include IBM Corporation, D-Wave Systems Inc., QxBranch, Inc., QRA Corp, Google and QC Ware Corp, Atos SE, Intel Corporation, Cambridge Quantum Computing Ltd., Rigetti & Co, Inc., among others.