MARKET INTRODUCTION
Quantum computing is the application of quantum phenomena such as entanglement and superposition to solve problems. It aids in the development of new discoveries in a variety of fields, including smart materials, healthcare, energy, and others. In end uses such as healthcare & pharmaceuticals, chemicals, defense, banking & finance, energy & power, and others, it finds applications in optimization, modelling, sampling, and other areas. Quantum computers and quantum physics are used to process information at the atomic and subatomic levels. Computing technology advancements open the path for better and more powerful quantum computers. The growing demand for Software as a Service (SaaS) business models, greater datacenter workloads, and rising complexity in processor design are the key drivers driving the quantum computing market.
MARKET SCOPE
The "Global Quantum Computing Market Analysis to 2028" is a specialized and in-depth study of the quantum computing Market with a special focus on the global market trend analysis. The report aims to provide an overview of quantum computing market with detailed market segmentation by product type, offering, application, technology, end-use industry. The global quantum computing market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading quantum computing market player and offers key trends and opportunities in the quantum computing market.
MARKET SEGMENTATION
Based on product type the market is segmented as, system and services.
Based on offering the market is segmented as, on premise, cloud based.
Based on application the market is segmented as, simulation, optimization, machine learning, others.
On the basis of technology the market is segmented as, trapped ions, superconducting qubits, quantum annealing, others.
Based on end-use industry the market is segmented as, space and defense, banking and finance, healthcare and pharmaceuticals, energy and power, government, others.
MARKET DYNAMICS
Drivers:
The growing demand for Software as a Service (SaaS) business models, greater datacenter workloads, and rising complexity in processor design are the key drivers driving the quantum computing market.
Growing application of quantum computing in various verticals.
The growing use of quantum computing in the health sciences, particularly in the fields of computer-aided drug design and silico modelling.
Surge in number of collaborations and strategic partnerships to carry out advancements in quantum computing technology
Restraints:
The quantum computing market's growth is restrained by high cost of the system and availability of substitutes along with various stability and correction issues.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global quantum computing market based on various segments. It also provides market size and forecast estimates from year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The quantum computing market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting quantum computing Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the quantum computing market in these regions.
IMPACT OF COVID-19 ON QUANTUM COMPUTING MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The reports cover key developments in the quantum computing market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from quantum computing market are anticipated to lucrative growth opportunities in the future with the rising demand for quantum computing market. Below mentioned is the list of few companies engaged in the quantum computing market.
The report also includes the profiles of key quantum computing market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Cambridge Quantum Computing Ltd
- D-Wave Systems
- Google
- Huawei Technologies Co. Ltd.
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- QCWare
- Rigetti Computing
- Honeywell International
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
