Global Market for Quantum Computing is Anticipated to grow at a Significant Pace i.e., USD 1,775 Million during the Forecast Period 2021-2027

Published Date: May, 2022

The global quantum computing market is anticipated to grow at a 30.5% CAGR during the forecast period 2021-2027. 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, Inc., a forerunner in hybrid quantum-classical computing, announced that its 80-qubit quantum system, Aspen-M, is now commercially available. Aspen-M will be supported by a variety of Rigetti collaborations with both commercial and public sector customers, including Nasdaq, Deloitte, DARPA, and the US Department of Energy.

With the unprecedented rise in COVID patients and the advent of novel viral strains, work-from-home and digitalization have become more popular. Quantum computing and other disruptive technologies is being highly adopted at the service level to curtail the spread of the coronavirus. Furthermore, the increased adoption of discovering novel methods in life science to develop vaccines will create significant opportunities for the 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 2027"

By end-user, the healthcare sector is anticipated to have a high CAGR in the Quantum Computing market during the forecast period 2021-2027.

The healthcare sector is projected to have a high CAGR during the forecast period 2021-2027 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

Segment

Categorization

Leading Category

Technology

Trapped Ions Qubits, Superconducting Qubits, Quantum Annealing, and Others

Superconducting Qubits (Largest)

 

Component

Hardware, Software, and Service

Service (Highest)

Deployment Model

Cloud and On-Premise

Cloud (Largest)

 

Application

Optimization, Simulation, Machine Learning, Sampling, and Others

Machine Learning (High CAGR)

 

End-User

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

BFSI (largest)

Healthcare

(High CAGR)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America

(Largest)

Asia-Pacific

 (Fastest)

Discover More About This Report, Download A Free Sample Copy of the Global Quantum Computing Market

“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 2021-2027 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

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Technology, Component, Deployment Model, Application, End-User, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

IBM, D-Wave Systems Inc., Microsoft, Amazon.com, Inc., Rigetti & Co, Inc., Google, Honeywell International Inc., Atos SE, Cambridge Quantum, and QC Ware

 

Global Quantum Computing Market Coverage

Technology Insight and Forecast 2015-2027

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

Component Insight and Forecast 2015-2027

  • Hardware
  • Software
  •  Services

Deployment Model Insight and Forecast 2015-2027

  • Cloud
  • On-Premise

Application Insight and Forecast 2015-2027

  • Optimization
  • Simulation
  • Machine Learning
  • Sampling
  • Others

End-User Insight and Forecast 2015-2027

  • 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