Key players Amazon, Microsoft, IBM, Intel and more fuel growth in a $3.2 billion industry

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Dublin, November 23, 2022 (GLOBE NEWSWIRE) — The “Global Quantum Computing Market: Analysis by Component, by Application, by Technology, by End User, by Region Size, and Trends with COVID-19 Impact and Forecast to 2027” report has been added to researchandmarkets.com offering.

In 2021, the global market for quantum computing was valued at US$442.32 million and is projected to grow to US$3,295.97 million by 2027. Quantum computing is an emerging technology that harnesses the laws of quantum mechanics to address problems which are too complex for traditional computers. The word “quantum” originates from the physical concept of Quantum Mechanics, which defines the physical properties of electrons and photons.

Quantum computers operate on the concept of “qubits”. A qubit, also known as a quantum bit, is a fundamental unit of quantum information that is physically implemented through a two-state device. Some of the main reasons why companies are switching to quantum computing are the increasing demand for high-performance computing, the growing popularity of quantum mechanics in cryptography, the increasing use of quantum computing in drug development , etc. The quantum computing market is expected to grow at a fast rate. CAGR of 39.88% during the forecast period of 2022-2027.

Market segmentation analysis:

  • By Component – ​​The report provides the bifurcation of the quantum computing market into three segments on the basis of component: hardware, software, and services.

  • By Application – In the report, the global quantum computing market is divided into three segments based on application: optimization, machine learning, and materials simulation.

  • By Technology – The report provides the quantum computing market segmentation based on technology: Quantum Annealed, Superconducting, Trapped Ions, Quantum Dots, and Others.

  • By End User: In the report, the global quantum computing market is divided into twelve segments based on end user: Finance & Investment, Transportation & Logistics, Aerospace, Agriculture, Automotive, Energy, Healthcare, Information Technology, Life Sciences Life, Manufacturing, Oil, Gas and Mining, and Others. The agricultural quantum computing market is expected to grow at the highest CAGR.

Dynamics of the Global Quantum Computing Market:

growth controllers

  • Growing investments in quantum technology

  • Rise of quantum computing start-ups

  • Growing number of partnerships and strategic collaborations

  • Growing Demand for High Performance Computing (HPC)

  • Growing use of quantum computing in drug development

  • Increased adoption of quantum computing in banking financial services

challenges

  • High cost of quantum computing solutions

  • Stability issues and bug fixes

  • Lack of talent in quantum computing

  • Concern about breaking public key encryption

market trends

  • Increased adoption of cloud-based quantum computing

  • Integration of Quantum Computing with IoT (Internet of Things)

  • Popularity of quantum mechanics in cryptography

  • Technological breakthrough in quantum computing

Key players. main players

  • Amazon.Com, Inc. (Amazon Web Services, Inc.)

  • Microsoft Corp. (Microsoft Azure)

  • Alphabet Inc. (Google cloud platform)

  • Alibaba Group (Alibaba Cloud)

  • IBM

  • intel corporation

  • Nvidia Corporation

  • Toshiba Corporation

  • Rigetti Computing

  • quantum computing inc.

  • D-Wave Systems Inc.

  • computer shoe

  • Xanadu Quantum Technologies Inc.

  • QC Ware Corp.

  • Ion Q

Key topics covered:

1. Executive Summary

2. Introduction

3. Analysis of the world market

4. Regional market analysis

5. Impact of COVID-19

6. Market dynamics

7. Competitive landscape

8. Company profiles

For more information on this report, visit https://www.researchandmarkets.com/r/3lxugs

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