The Global Quantum Computing Technologies Market Report is a compilation of comprehensive research studies of various aspects of the Quantum Computing Technologies Market. With accurate data and highly authentic information, a brilliant attempt is made to paint a true, transparent picture of the current and future situations of the global Quantum Computing Technologies market. Market participants can use this powerful tool when creating effective business plans or making major changes to their strategies. The report discusses the growth of the global as well as regional markets. It also throws light on high-growth segments of the global Quantum Computing Technologies market and how they will evolve in the years to come.
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In terms of revenue, global quantum computing technologies market is anticipated to grow at a CAGR of 15.89% over the forecast period.. Alibaba Cloud, Alphabet Inc. (Google LLC), D-Wave Systems Inc., Fixstars Corporation, Honeywell International Inc., IBM Corporation, Intel Corporation, Microsoft, Q-CTRL Inc. and TOSHIBA CORPORATION amongst others.
Industries across the globe are investing a large sum to develop alternative solutions for conventional computing technologies to address the need for higher speed, reliability and efficiency. This requirement for advanced computing coupled with the rise in investments is driving the demand for quantum computing technologies.
The conventional computer are based on the classic physics laws which limits their capabilities to perform certain complex functions, process large datasets and provide instantaneous results. The activities such as materials science research, new drug development and others demand advanced computational capabilities. This has led to the increasing investments towards development of alternative solutions across various industry verticals. Quantum computing technologies have the potential to achieve new breakthroughs in science to save lives, diagnose illnesses sooner, discover materials and devise financial strategies. Quantum computers exploits the quantum mechanical phenomena to manipulate information. One atomic particle can store many pieces of information, allowing the quantum computers to perform multiple complex calculations simultaneously. They pack the potential to solve problems that are out of reach of conventional machines. These advantages of quantum computing have attracted investments from companies across the globe. With IBM Corporation, Alphabet Inc. (Google LLC) and Intel Corporation at the forefront of growing investments in quantum computing, the other small players in this market received a total of USD$ 450 million of funding in 2017 and 2018. These growing investments and development of newer quantum solutions are driving the growth of global quantum computing technologies market.
The quantum computer technologies also facilitates remote and autonomous operation. For instance, the quantum computer of University of Maryland named EURIQA (Error-corrected Universal Reconfigurable Ion trap Quantum Archetype) was modified in 2019 to perform experiments remotely and autonomously. Also, several types of quantum computer are available through cloud services hosted by Amazon and Microsoft which is anticipated to create a new business model called ‘quantum computing as a service’. The Amazon Braket service announced in December 2019 gives beginners in quantum computing a hands-on experience with qubits and quantum circuits. Users can build and test circuits in a simulated environment and later run them on actual quantum computers with Amazon Braket. Major quantum computing technology providers such as Companies including IBM Corporation, Alphabet Inc. (Google LLC), Honeywell International Inc. and others have also announced their plans to open commercial access to their quantum computers. Thus, the newly emerging business model under which power of quantum computing technologies is made remotely available for users is anticipated to drive the global quantum computing technologies market in future years.
Quantum computing technologies are still in their early stages of development. This makes them extremely difficult to engineer which makes them prone to errors and loss of quantum coherence. However as the researchers are making efforts to progress quantum computing technologies, its maturity is expected to increase diminishing the irrelevant hype and driving the demand in future years.
The recent outbreak of COVID-19 pandemic is anticipated to have positive impact on the quantum computing technologies market. Computation is a vital aspect to study the behavioural characteristics of coronavirus. Thus, the companies providing quantum computing technologies have joined hands with researchers across the globe to fight against the on-going crisis and find a vaccine on the coronavirus infection. D-Wave Systems provided researchers and government agencies with access to its quantum computer through cloud in April 2020. This service is aimed to assist vaccines and therapies development, epidemiology management, supply distribution, hospital logistics, and diagnostics. The outcomes of these applications are anticipated to bring out the benefits of quantum computing to study viruses and pose lucrative growth opportunities in quantum computing technologies market in future.
Global Quantum Computing Technologies Market:
- Artificial Intelligence and Machine Learning
- Computational Chemistry
- Logistics Optimization
- Financial Modeling
- Drug Design and Development
- Weather Forecasting
By End Users
By Organization Size
- Small and Medium Sized Enterprises
- Large Enterprises
By Industry Verticals
- IT and Telecommunications
- Banking, Financial Services and Insurance (BFSI)
- Military and Defense
- Oil and Gas
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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