Press Releases

The global quantum computing market is anticipated to grow at a 30.5% CAGR during the forecast period 2023-2030. The increased government investments in quantum computing technologies, mounting strategic alliances, increased adoption of IoT, and integration of AI and ML technology is also predicted to increase demand for quantum computing technologies. Moreover, the increasing prevalence of SaaS business models and increased complexity in the process design of classical binary computing systems will drive the market demand for the quantum computing market. Quantum computing market demand is increasing in sectors such as BFSI, defense, and automotive, which is fueling market expansion. These factors could help the market expansion in the approaching years. Also, the key market players are aggressively looking for ways to expand quantum computing applications in sectors such as drug development and the fight against climate change. As a result, the quantum computing sector is receiving a big boost, allowing it to gain substantial traction and investments.

In February 2022, Rigetti Holdings, a leading company in hybrid quantum-classical computing, made a significant announcement. They unveiled their commercially available 80-qubit quantum system, Aspen-M. This advanced quantum system is supported by collaborations with various commercial and public sector partners, including Nasdaq, Deloitte, DARPA, and the US Department of Energy.

The COVID-19 pandemic has brought about a surge in the number of patients and the emergence of new viral strains. As a result, there has been an increased emphasis on remote work and digitalization. To combat the spread of the virus, the adoption of disruptive technologies such as quantum computing has gained prominence. The quantum computing industry is playing a crucial role in supporting the service sector and enabling innovative approaches in life sciences for vaccine development. This presents significant opportunities for industry players in the quantum computing market.

The availability of Rigetti's Aspen-M quantum system and its collaborations with renowned organizations indicate a commitment to leveraging quantum computing's potential in addressing critical challenges, including those posed by the pandemic. The adoption of quantum computing and its integration with other cutting-edge technologies will continue to drive advancements in various sectors, contributing to the development of novel solutions and opportunities for industry players in the quantum computing market.

Browse 73 market data Tables and 45 Figures spread through 275 Pages and in-depth TOC on " Quantum Computing Market by Technology (Trapped Ions Qubits, Superconducting Qubits, Quantum Annealing, and Others), by Component (Hardware, Software, and Service), by Deployment Model (Cloud and On-Premise), by Application (Optimization, Simulation, Machine Learning, Sampling, and Others), by End-User (BFSI, Aerospace & Defense, Automotive, Healthcare, Government, Energy & Power, IT & Telecommunication, Chemical, and Others), and Region - Global Forecast to 2030"

By end-user, the healthcare sector is anticipated to have a high CAGR in the Quantum Computing market during the forecast period 2023-2030.

The healthcare sector is projected to have a high CAGR during the forecast period 2023-2030 owing to the rising need to develop novel drug discovery, clinical trials, genome sequencing, and analytics. Quantum computing aids scientists in the development of ultra-personalized and ultra-precise diagnostic tools. The technology also aids the industry in speeding up and broadening the scope of life science and drug development research.

Global Quantum Computing Market Segmentation Analysis

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“Asia-Pacific is anticipated to be the fastest-growing region in the quantum computing market.”

Asia-Pacific is projected to witness faster growth during the forecast period 2023-2030 owing to increased market demand for quantum computing solutions for machine learning, simulation, and optimization along with increased adoption of new technologies from the industrial sector will foster the market growth of the quantum computing market. Moreover, the emergence of SMEs and technological development in sectors such as pharmaceuticals, chemicals, etc. will propel the market demand for quantum computing.

Some of the major players in the global quantum computing market include IBM, D-Wave Systems Inc., Microsoft, Amazon.com, Inc., Rigetti & Co, Inc., Google, Honeywell International Inc., Atos SE, Cambridge Quantum, and QC Ware.

Scope of the Report

Global Quantum Computing Market Coverage

Technology Insight and Forecast 2018-2030

• Trapped Ions Qubits
• Superconducting Qubits
• Quantum Annealing
• Others

Component Insight and Forecast 2018-2030

• Hardware
• Software
•  Services

Deployment Model Insight and Forecast 2018-2030

• Cloud
• On-Premise

Application Insight and Forecast 2018-2030

• Optimization
• Simulation
• Machine Learning
• Sampling
• Others

End-User Insight and Forecast 2018-2030

• BFSI
• Aerospace & Defense
• Automotive
• Healthcare
• Government
• Energy & Power
• IT & Telecommunication
• Chemical
• Others

Geographical Segmentation

Quantum Computing Market by Region

North America

• By Technology
• By Component
• By Deployment Model
• By Application
• By End-User
• By Country – U.S., Canada, and Mexico

Europe

• By Technology
• By Component
• By Deployment Model
• By Application
• By End-User
• By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

• By Technology
• By Component
• By Deployment Model
• By Application
• By End-User
• By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

• By Technology
• By Component
• By Deployment Model
• By Application
• By End-User
• By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries