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A recent report published by Infinium Global Research on the enterprise quantum computing market provides an in-depth analysis of segments and sub-segments in the global as well as regional enterprise quantum computing market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional enterprise quantum computing market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global enterprise quantum computing market. According to the report, the global enterprise quantum computing market is projected to grow at a CAGR of 29% over the forecast period of 2021-2027.
The global enterprise quantum computing market was sized near USD 1765 million in 2021. The global enterprise quantum computing market is projected to grow with a CAGR of 29% during 2021-2027. The Quantum computer uses the technology based on quantum phenomenon and it is fundamentally different than conventional and supercomputers. Quantum computer uses quantum bits (qubits) to process the data which is different than the classical computers. Furthermore, quantum computing is known to perform complex calculation more proficiently than the classical computer which becomes a major factor fuelling the growth of the enterprise quantum computing market. There are various application of quantum computers such as aerospace & defense, BFSI, healthcare & life science, energy & utilities, manufacturing, IT & telecom, and other industries. For instance, Cambridge Quantum Computing which is the UK based quantum computing company has merged with Honeywell Quantum Solutions for creating the leading quantum computing company in the world.
Some of the prime factors which are propelling the growth of the enterprise quantum computing market are the rise in investments in quantum computing technology, the increase in demand for high performance computing, and the growth in demand from medical research and financial markets. In addition, there is a rise in need for secure computing platforms and an increase in the use of simulation and modeling in quantum computing, which are also project to boost the growth of the market over the forecast period. On the other hand, operational challenges and stability & error correction issues associated with quantum computing are the major factors which are hampering the growth of the enterprise quantum computing market. Nevertheless, there are exponential growth opportunities to the market due to emergence of on-premises quantum computers for businesses and technological advancements in quantum computing.
The North America is the dominating region of the global enterprise quantum computing market. The region has earned a largest share of the market due to rapidly increasing investments by companies as well as governments, particularly in the U.S. For instance, the U.S. Navy is paying for training in quantum computing and plans to develop algorithms for optimization problems such as data storage and energy-efficient data retrieval with underwater autonomous robots, and NASA is exploring application in communication, distributed navigation, and system diagnostics. Therefore, there is rising demand for quantum computing in the U.S. which is also driving market’s growth in the North American region. Furthermore, a significant growth of the enterprise quantum computing market is also expected in the Asia Pacific region over the forecast period. In countries like China and South Korea, there is a high development of quantum computing technology, which mainly driving the market’s growth in APAC region.
The report on the global enterprise quantum computing market covers segments such as component, deployment mode, technology, application, and end-use. On the basis of component, the sub-markets include software, hardware, and service. On the basis of deployment mode, the sub-markets include on-premise, and cloud. On the basis of technology, the sub-markets include quantum annealing, superconducting, trapped ion, quantum dot, and other. On the basis of application, the sub-markets include machine learning, deep learning, AI optimization, simulation and data modeling, cyber security, and others. On the basis of end-user, the sub-markets include healthcare and life sciences, IT and Telecom, manufacturing, BFSI, energy and utilities, aerospace and defense, and others.
The report provides profiles of the companies in the market such as International Business Management Corporation (IBM), Alibaba Group, D-Wave Systems Inc., Google LLC, Huawei Technologies Co., Ltd., ID Quantique, Intel Corporation, Microsoft Corporation, Rigetti & Co, Inc., and Toshiba Corporation.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of enterprise quantum computing market. Moreover, the study highlights current market trends and provides forecasts from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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