Quantum Computing Market 2023-2029: Market Overview, Growth Drivers, Key Players, and Regional Analysis

Market Overview:
Quantum Computing Market was estimated at USD 134.72 million in 2021 and is projected to reach USD 496.98 million by 2028, growing at a CAGR of 20.5%.

The study of computational technology that is based on the concepts of quantum theory is known as quantum computing. The behavior of matter and energy at the quantum level is described by quantum theory. (atoms and subatomic). To carry out a particular computation, quantum computing combines bits. And all of this is significantly more effective than its conventional alternatives. The performance of some applications has greatly improved thanks to the development of quantum computers, which shows a breakthrough in computing power. Quantum computing impacts several aspects of the IT environment, from power consumption to data generation to traditional computing integration. The rapid effects of quantum computing will be an important factor in determining who will win and who will lose in this technological change.

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Market Dynamics:
Driver:
In the banking and financial services sector, which concentrates on expediting trading activities, trading, and computing equipment, quantum computing is increasing relevance. Simulation is one of the most significant potential uses for quantum computing. Finding more effective and economical ways to manage financial risk is made possible by quantum computing. Traditional computers can significantly lengthen processing times and raise the cost of high-quality solutions in financial institutions, whereas quantum computers can carry out high-speed operations at reduced costs, generating income and cost savings. It creates fresh possibilities for creation. An increase in funding in the field of quantum computing.

Opportunities:
One of the fields with the most potential for integrating quantum computing is data analytics, which is one of the fastest-emerging industries. Large-scale problems are solved using quantum mechanics and quantum computing in a variety of businesses with a lot of data. Due to the datasets utilized, topology analysis outlines computations that geometry acts in a specific way and is simply not feasible with today's typical computers. This can be boiled down to a fairly straightforward computation in quantum computing. NASA is analyzing the massive amounts of data gathered about space and looking at better and safer ways to travel there using quantum computers.

Market Segmentation
Segmentation Analysis of Quantum Computing Market:
By Type, Service is the dominating segment in the Quantum Computing Market during the forecasted period. The growth of this service segment is due to the growing number of startups around the world investing in R & D activities related to quantum computing technology. Used in optimization, simulation, and machine learning applications, this technology provides optimal usage costs and highly efficient processes in a variety of end-user industries. Quantum Computing as a Service is the leading service-based application in the quantum computing market.
• Systems
• Services

By Deployment, Cloud-based deployment is dominating the segment in Quantum Computing Market. With the development of high-performance systems, the demand for cloud-based provision of quantum computing systems and services is expected to increase. This is expected to be an important source of revenue for service providers as users pay to access a noisy midscale quantum system (NISQ) that can solve real problems. The limited lifespan of rapidly advancing quantum computer systems also benefits cloud service providers. The flexibility of access provided to users is another factor driving the adoption of cloud-based delivery of quantum computing systems and services. Quantum computers are unlikely to be portable shortly. The cloud allows users to access a variety of devices and simulators from their laptops.
• On-Premises
• Cloud-Based

By Application, Machine Learning is expected to be dominating segment in Quantum Computing Market. Quantum machine learning involves integrating quantum algorithms into machine learning programs. Complex models make it very difficult to systematically sort a large number of variables. Therefore, users can choose quantum computing technology to solve this complexity accurately and quickly. For example, the Monte Carlo method uses sampling techniques to estimate numbers from large datasets. Quantum algorithms can be used to speed up solution execution, and algorithms can be used to speed up Monte Carlo implementations and reduce computational time.
• Optimization
• Simulation
• Machine Learning
• Others

By Industry Use, Healthcare and Pharmaceuticals are expected to be dominating segments in Quantum Computing Market. Governments in various countries are increasing their spending on health and medicine to address this issue. Companies in this industry are focused on adopting new technologies such as quantum computers. Quantum computing technology enables scientists to develop ultra-precision, ultra-personalized medical and diagnostic tools. In addition, quantum sensors can be used in magnetic resonance tomography (MRT) for ultra-precision measurements.
• Banking & Finance
• Space & Defense
• Healthcare & Pharmaceuticals
• Transportation & Logistics
• Others

Quantum Computing Market TOC:
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Regional Analysis of Quantum Computing Market:
The APAC region is the premier hub for multiple industries such as healthcare and pharmaceuticals, banking and finance, and chemicals. Countries such as China, Japan, and South Korea are major manufacturers of home appliances such as smartphones, laptops, and game consoles in APAC. These industries need to deal with the complexity of optimization, simulation, and machine learning applications. The large-scale development of emerging markets in the APAC region and the increased use of advanced technology in the manufacturing industry are contributing to the development of SMEs in the region. This is driving the demand for APAC's quantum computing services and systems.

The European region has seen accelerating growth in the research and development of the quantum computing sector. Partnerships with other quantum computing providers and regional expansion are part of the strategy chosen by key players to drive sales growth. Germany is recognized as a primary market and high demand for quantum computing may continue in the coming years.

North America is the hub of the development of quantum computing technology with companies like Google, IBM, Microsoft, and other blue ocean companies which are investing massive funding and technology to the growth of the technology.
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of SA)

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Players Covered in Quantum Computing Market are:
• International Business Machines (US)
• D-Wave Systems (Canada)
• Microsoft (US)
• Amazon (US)
• Rigetti Computing (US)
• Google (US) and other major players.

Key Industry Developments In Quantum Computing Market
In January 2020, IBM entered into a partnership with Mercedes-Benz's parent company, Daimler AG, to improve the battery capacity and charging speed of electric vehicles. These companies have used quantum computers to model the dipole moments of three lithium-containing molecules, paving the way for the development of next-generation lithium-sulfur (LiS) batteries that are stronger, last longer, and are cheaper than lithium.-Ion batteries.

In November 2019, IBM partnered with the Unitary Fund to provide grants and priority access to specific IBM Q systems. Similar to IBM's quantum computing mission, the Unitary Fund aims to create a quantum technology industry that benefits most people.

Table Of Content
Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2: Executive Summary

Chapter 3: Growth Opportunities By Segment
 3.1 By Type
 3.2 By Deployment
 3.3 By Application
 3.4 By End Use Industry

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  4.3.1 Drivers
  4.3.2 Restraints
  4.3.3 Opportunities
  4.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 5: Quantum Computing Market by Type
 5.1 Quantum Computing Market Overview Snapshot and Growth Engine
 5.2 Quantum Computing Market Overview
 5.3 Systems
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Systems: Geographic Segmentation
 5.4 Services
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Services: Geographic Segmentation

Chapter 6: Quantum Computing Market by Deployment
 6.1 Quantum Computing Market Overview Snapshot and Growth Engine
 6.2 Quantum Computing Market Overview
 6.3 On-Premises
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size (2016-2028F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 On-Premises: Geographic Segmentation
 6.4 Cloud-Based
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size (2016-2028F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Cloud-Based: Geographic Segmentation
Continue.

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