Quantum Computing Market 2028 By Size, Share, Trends, Growth, Forecast

Report Description

The Global quantum computing market is anticipated to grow during the forecast period. Rising number of collaborations, technological advancement, and increasing investments in quantum computing technology is expected to propel the global quantum computing market growth over the forecast period.

Quantum computing is an area of study focused on the development of computer-based technologies centred around the principles of quantum theory. It explains the behaviour and nature of energy and matter on quantum. The behaviour of energy and matter at the atomic and subatomic levels is explained by quantum theory. Quantum bits or qubits are the basic unit of information in quantum computing. Qubits use superposition to be in multiple states at one time. These qubits can exist simultaneously in two states (i.e., 1 and 0). Quantum computers may also be utilised to enhance information sharing safely or enhance radars' capacity to find missiles and aircraft.

Rising Number of Collaborations

The field of quantum computing is at the stage of development. Private funding is increasing rapidly. In 2021 investments in quantum-computing start-ups have surpassed USD 1.7 billion, more than double the amount raised in 2020 . Many businesses, like Google, IBM, and Intel, collaborate with universities throughout the world to carry out development and research activities pertaining to quantum computing technology. Therefore, it is anticipated that the market for quantum computing would grow over the coming few years as partnerships and collaborative tactics increase. For instance, IBM has announced a variety of partnerships with academic and business institutions to identify the real-world uses for this knowledge. Additionally, the University of Waterloo, Princeton University, and the Massachusetts Institute of Technology are collaborating on the development of quantum computer prototypes.

Technological Advancement

Information processing and storage have been revolutionised by quantum computing. It greatly enhances the effective algorithms. The fifth generation of computers is being developed due to the rapid evolution of the quantum computing environment. As regular computing continues to advance, so does research into quantum computing. It caused the classical computing industry to switch over to quantum simulation approaches. Quantum computers may overcome constraints that classical computers face, allowing them to solve complicated problems and exhibit superposition and entanglement features. The computing power of quantum computers is significantly increased by superimposing many qubits on top of one another. Moreover, the speed required by researchers to imitate all aspects of chemistry is currently provided by quantum computers, which makes them substantially more predicative and decreases the need for laboratory testing.

Rising investments in quantum computing technology

The dynamics of the strategic balance of power, military affairs, and trade can be altered by quantum computing technology. Numerous governments intend to increase exploratory research on novel technologies to construct and develop quantum computing systems. Sales of quantum computing components is anticipated to increase as governments invest more money in quantum computing solutions for a wide range of applications. For instance, the Netherlands unveiled their national strategy in 2019 to advance the field of quantum computing. The country will have a budget of around USD 113 million under this initiative called Quantum Delta NL, for both new investments, for new action lines and current activities.

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Market Segments

Global quantum computing Market is segmented by component, deployment, application, end-user, and by region. Based on component, the market is segmented into Hardware, Software and Service. Based on Deployment, the market is segmented into on-premises and cloud-based. Based on Application, the market is segmented into machine learning, optimization, biomedical simulations, financial services, electronic material discovery and others. Based on end user, the market is further segmented into healthcare, BFSI, automotive, researchers, energy & utilities, chemical, manufacturing and others.

Market Players

Major market players in the global quantum computing market are International Business Machines Corporation (IBM), D-Wave Systems Inc., Amazon.com, Inc., Rigetti Computing Inc., Google LLC, Intel Corporation, Toshiba Corporation, Honeywell International Inc., QC Ware Corporation, 1QB Information Technologies, Inc.

Recent Developments

In January 2022, Quantinuum Inc. partnered with JSR Corporation to research application of quantum computing in semiconductor research.
In January 2020, IBM partnered with Daimler AG to enhance the capacity and increase the charging speed of batteries of electric vehicles. These businesses modelled the dipole moment of molecules containing lithium using a quantum computer, paving the door for the creation of the next-generation lithium-sulfur batteries.
In January 2022, Germany-based polymer manufacturer Covestro announced a 5-year collaboration agreement with San Francisco-based quantum computing software developer QC Ware. These companies will work to the develop quantum computing algorithms that can improve Covestro’s manufacturing processes and materials.

Attribute	Details
Base Year	2022
Historic Data	2018 – 2022
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
Report coverage	Revenue forecast, company share, growth factors, and trends
Segments covered	· By Component · By Deployment · By Application · By End-User · By Region
Regional scope	North America, Asia Pacific, Europe, MEA, South America
Country scope	United States; Canada; Mexico; China; Indian; Japan; South Korea; Australia; Germany; United Kingdom; France; Netherlands; Sweden; Saudi Arabia; South Africa; UAE; Turkey; Israel; Brazil; Colombia; Argentina;
Key companies profiled	International Business Machines Corporation (IBM), D-Wave Systems Inc., Amazon.com, Inc., Rigetti Computing Inc., Google LLC, Intel Corporation, Toshiba Corporation, Honeywell International Inc., QC Ware Corporation, 1QB Information Technologies, Inc.
Customization scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, Global quantum computing market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Quantum computing market, by component:

Hardware
Software
Services

Quantum computing market, by deployment:

On-premises
Cloud-based

Quantum computing market, by application:

Machine Learning
Optimization
Biomedical Simulations
Financial Services
Electronic Material Discovery
Others

Quantum computing market, by end user:

Healthcare
BFSI
Automotive
Researchers
Energy & utilities
Chemical
Manufacturing
Others

Quantum computing market, by region:

North America

United States
Canada
Mexico

Asia-Pacific

China
Japan
India
South Korea
Australia
Rest of Asia-Pacific

Europe

Germany
United Kingdom
France
Netherlands
Sweden
Rest of Europe

MEA

Saudi Arabia
UAE
South Africa
Turkey
Israel
Rest of MEA

South America

Brazil
Argentina
Colombia
Rest of South America

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global quantum computing market.

Available Customizations:

Global quantum computing market with the given market data, Tech Sci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

· Detailed analysis and profiling of additional market players (up to five).

Global quantum computing market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Service Overview

1.1. Market Definition

1.2. Scope of the Study

2. Research Methodology

2.1. Baseline Methodology

2.2. Methodology Followed for Calculation of Market Size

2.3. Methodology Followed for Calculation of Market Shares

2.4. Methodology Followed for Forecasting

3. Executive Summary

4. Impact of COVID-19 on Global Quantum Computing Market

5. Voice of Customer

6. Global Quantum Computing Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Component (Hardware, Software, Services)

6.2.2. By Deployment (On-premises and Cloud-based)

6.2.3. By Application (Machine Learning-Natural Language Processing (ML-NLP), Optimization, Biomedical Simulations, Electronic Material Discovery and Others)

6.2.4. By End-User (Healthcare, BFSI, Automotive, Energy & Utilities, Chemical, Manufacturing and Others)

6.2.5. By Region

6.3. By Company (2022)

6.4. Market Map (By Component, By Deployment, By Application, By End-User, By Region)

7. North America Quantum Computing Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Component

7.2.2. By Deployment

7.2.3. By Application

7.2.4. By End-User

7.2.5. By Country

7.3. North America: Country Analysis

7.3.1. United States Quantum Computing Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Component

7.3.1.2.2. By Deployment

7.3.1.2.3. By Application

7.3.1.2.4. By End-User

7.3.2. Canada Quantum Computing Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Component

7.3.2.2.2. By Deployment

7.3.2.2.3. By Application

7.3.2.2.4. By End-User

7.3.3. Mexico Quantum Computing Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Component

7.3.3.2.2. By Deployment

7.3.3.2.3. By Application

7.3.3.2.4. By End-User

8. Europe Quantum Computing Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Component

8.2.2. By Deployment

8.2.3. By Application

8.2.4. By End-User

8.2.5. By Country

8.3. Europe: Country Analysis

8.3.1. Germany Quantum Computing Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Component

8.3.1.2.2. By Deployment

8.3.1.2.3. By Application

8.3.1.2.4. By End-User

8.3.2. United Kingdom Quantum Computing Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Component

8.3.2.2.2. By Deployment

8.3.2.2.3. By Application

8.3.2.2.4. By End-User

8.3.3. France Quantum Computing Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Component

8.3.3.2.2. By Deployment

8.3.3.2.3. By Application

8.3.3.2.4. By End-User

8.3.4. Netherlands Quantum Computing Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Component

8.3.4.2.2. By Deployment

8.3.4.2.3. By Application

8.3.4.2.4. By End-User

8.3.5. Sweden Quantum Computing Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Component

8.3.5.2.2. By Deployment

8.3.5.2.3. By Application

8.3.5.2.4. By End-User

9. Asia Pacific Quantum Computing Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Component

9.2.2. By Deployment

9.2.3. By Application

9.2.4. By End-User

9.2.5. By Country

9.3. Asia Pacific: Country Analysis

9.3.1. China Quantum Computing Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Component

9.3.1.2.2. By Deployment

9.3.1.2.3. By Application

9.3.1.2.4. By End-User

9.3.2. India Quantum Computing Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Component

9.3.2.2.2. By Deployment

9.3.2.2.3. By Application

9.3.2.2.4. By End-User

9.3.3. Japan Quantum Computing Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Component

9.3.3.2.2. By Deployment

9.3.3.2.3. By Application

9.3.3.2.4. By End-User

9.3.4. South Korea Quantum Computing Market Outlook

9.3.4.1. Market Size & Forecast

9.3.4.1.1. By Value

9.3.4.2. Market Share & Forecast

9.3.4.2.1. By Component

9.3.4.2.2. By Deployment

9.3.4.2.3. By Application

9.3.4.2.4. By End-User

9.3.5. Australia Quantum Computing Market Outlook

9.3.5.1. Market Size & Forecast

9.3.5.1.1. By Value

9.3.5.2. Market Share & Forecast

9.3.5.2.1. By Component

9.3.5.2.2. By Deployment

9.3.5.2.3. By Application

9.3.5.2.4. By End-User

10. Middle East & Africa Quantum Computing Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Component

10.2.2. By Deployment

10.2.3. By Application

10.2.4. By End-User

10.2.5. By Country

10.3. Middle East & Africa: Country Analysis

10.3.1. Saudi Arabia Quantum Computing Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Component

10.3.1.2.2. By Deployment

10.3.1.2.3. By Application

10.3.1.2.4. By End-User

10.3.2. UAE Quantum Computing Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Component

10.3.2.2.2. By Deployment

10.3.2.2.3. By Application

10.3.2.2.4. By End-User

10.3.3. South Africa Quantum Computing Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Component

10.3.3.2.2. By Deployment

10.3.3.2.3. By Application

10.3.3.2.4. By End-User

10.3.4. Turkey Quantum Computing Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Component

10.3.4.2.2. By Deployment

10.3.4.2.3. By Application

10.3.4.2.4. By End-User

10.3.5. Israel Quantum Computing Market Outlook

10.3.5.1. Market Size & Forecast

10.3.5.1.1. By Value

10.3.5.2. Market Share & Forecast

10.3.5.2.1. By Component

10.3.5.2.2. By Deployment

10.3.5.2.3. By Application

10.3.5.2.4. By End-User

11. South America Quantum Computing Market Outlook

11.1. Market Size & Forecast

11.1.1. By Value

11.2. Market Share & Forecast

11.2.1. By Component

11.2.2. By Deployment

11.2.3. By Application

11.2.4. By End-User

11.2.5. By Country

11.3. South America: Country Analysis

11.3.1. Brazil Quantum Computing Market Outlook

11.3.1.1. Market Size & Forecast

11.3.1.1.1. By Value

11.3.1.2. Market Share & Forecast

11.3.1.2.1. By Component

11.3.1.2.2. By Deployment

11.3.1.2.3. By Application

11.3.1.2.4. By End-User

11.3.2. Argentina Quantum Computing Market Outlook

11.3.2.1. Market Size & Forecast

11.3.2.1.1. By Value

11.3.2.2. Market Share & Forecast

11.3.2.2.1. By Component

11.3.2.2.2. By Deployment

11.3.2.2.3. By Application

11.3.2.2.4. By End-User

11.3.3. Colombia Quantum Computing Market Outlook

11.3.3.1. Market Size & Forecast

11.3.3.1.1. By Value

11.3.3.2. Market Share & Forecast

11.3.3.2.1. By Component

11.3.3.2.2. By Deployment

11.3.3.2.3. By Application

11.3.3.2.4. By End-User

12. Market Dynamics

12.1. Drivers

12.2. Challenges

13. Market Trends and Developments

14. Company Profiles

14.1. International Business Machines Corporation (IBM)

14.1.1. Company Overview

14.1.2. Product/Service Portfolio

14.1.3. Key Financials & Revenue (If Available)

14.1.4. Key Personals

14.1.5. Recent Developments/Updates

14.2. D-Wave Systems Inc.

14.2.1. Company Overview

14.2.2. Product/Service Portfolio

14.2.3. Key Financials & Revenue (If Available)

14.2.4. Key Personals

14.2.5. Recent Developments/Updates

14.3. Amazon.com, Inc.

14.3.1. Company Overview

14.3.2. Product/Service Portfolio

14.3.3. Key Financials & Revenue (If Available)

14.3.4. Key Personals

14.3.5. Recent Developments/Updates

14.4. Rigetti Computing Inc.

14.4.1. Company Overview

14.4.2. Product/Service Portfolio

14.4.3. Key Financials & Revenue (If Available)

14.4.4. Key Personals

14.4.5. Recent Developments/Updates

14.5. Google LLC

14.5.1. Company Overview

14.5.2. Product/Service Portfolio

14.5.3. Key Financials & Revenue (If Available)

14.5.4. Key Personals

14.5.5. Recent Developments/Updates

14.6. Intel Corporation

14.6.1. Company Overview

14.6.2. Product/Service Portfolio

14.6.3. Key Financials & Revenue (If Available)

14.6.4. Key Personals

14.6.5. Recent Developments/Updates

14.7. Toshiba Corporation

14.7.1. Company Overview

14.7.2. Product/Service Portfolio

14.7.3. Key Financials & Revenue (If Available)

14.7.4. Key Personals

14.7.5. Recent Developments/Updates

14.8. Honeywell International Inc.

14.8.1. Company Overview

14.8.2. Product/Service Portfolio

14.8.3. Key Financials & Revenue (If Available)

14.8.4. Key Personals

14.8.5. Recent Developments/Updates

14.9. QC Ware Corporation

14.9.1. Company Overview

14.9.2. Product/Service Portfolio

14.9.3. Key Financials & Revenue (If Available)

14.9.4. Key Personals

14.9.5. Recent Developments/Updates

14.10. 1QB Information Technologies, Inc.

14.10.1. Company Overview

14.10.2. Product/Service Portfolio

14.10.3. Key Financials & Revenue (If Available)

14.10.4. Key Personals

14.10.5. Recent Developments/Updates

15. Strategic Recommendations

16 About Us & Disclaimer

Figures and Tables

Frequently asked questions

Is quantum computing in demand?

Quantum computing market has been witnessing a demand mainly for scientific and research purposes. Moreover, growing demand for quantum computers for various applications such as artificial intelligence (AI), machine learning and data analytics, is expected to propel the market.

Who are leading companies in global quantum computing market?

International Business Machines Corporation (IBM), D-Wave Systems Inc., Amazon.com, Inc., Rigetti Computing Inc., Google LLC, Intel Corporation are the leading companies in global quantum computing market

Which country dominates the Asia Pacific region in the global quantum computing market?

China dominates the Asia Pacific as well as global quantum computing market because the government of China announced the funding of USD 15 billion for the development of quantum computing.

What is the biggest challenge with quantum computing market?

The absence of technical expertise, organizational interest in embracing the new procedure, resources for design and innovation, and a lack of quantum simulation in areas like financial services, healthcare, logistics, and data analytics are important challenges in the market for quantum computing.