Quantum Computing Market Size, Share, and Analysis, By Component (Hardware, Software, and Services), By Deployment (On-Premise and Cloud), By Application (Optimization, Machine Learning, Financial Services, and Others), By End User (Healthcare, BFSI, Automotive, Energy & Utilities, Chemical & Manufacturing, and Others), By Region (North America, Europe, Asia-Pacific, And Rest of the World, And Regional Forecast 2024-2034
Quantum Computing Market Size, Share, and Analysis, By Component (Hardware, Software, and Services), By Deployment (On-Premise and Cloud), By Application (Optimization, Machine Learning, Financial Services, and Others), By End User (Healthcare, BFSI, Automotive, Energy & Utilities, Chemical & Manufacturing, and Others), By Region (North America, Europe, Asia-Pacific, And Rest of the World, And Regional Forecast 2024-2034
PRODUCT OVERVIEW
Quantum Computing Market is anticipated t%li%grow at a CAGR of 33.7% in the forecast period (2024-2034), with the market size valued at USD 0.94 billion in 2023 and projected t%li%reach USD 23.32 billion by 2034.
Quantum computing is a ground-breaking technology that uses the principles of quantum mechanics t%li%execute various computation operations. Quantum computers use quantum bits, or qubits, as the fundamental unit of information, as opposed t%li%classical computers, which use bits. Qubits can exist in numerous states at the same time, which is called superposition, and they can even become entangled due t%li%which their states are interconnected regardless of distance. These unique properties empower quantum computers t%li%solve complex problems at exponentially faster rates than classical computers. In addition, quantum computing shows promising potential in tackling computationally difficult challenges across various domains, such as cryptography, drug discovery, and materials science. However, quantum computing als%li%presents significant hurdles related t%li%stability and error correction, which researchers are actively addressing.
MARKET HIGHLIGHTS
Quantum computing market is anticipated t%li%reach USD 23.32 billion, growing at a CAGR of 33.7% during the forecast period, attributed t%li%the growing investments from governmental bodies and private enterprises. The expansion of the quantum computing market is driven by the promising potential of this technology t%li%alter several industries ranging from healthcare t%li%finance. Moreover, innovations in quantum hardware and software, along with a growing demand t%li%solve complex problems, are serving as major catalysts for the growth of the market. Furthermore, collaborations among major technology companies and academic institutions are actively promoting innovation and accelerating commercialization efforts in the industry. Therefore, as quantum computing continuously evolves and overcomes technical challenges, it will provide extraordinary computational power, leading t%li%disruptive technological breakthroughs and multibillion-dollar valuations during the forecasted period.
Quantum Computing Market Segments:
Growth Drivers
Recent Breakthroughs in Research Has Contributed t%li%the Growth of the Market
Applications of Quantum Computing Across Industries are Driving Expansion
Restraint
Technical challenges present an important obstacle t%li%the adoption of quantum computing
Key Players
PRODUCT OVERVIEW
Quantum Computing Market is anticipated t%li%grow at a CAGR of 33.7% in the forecast period (2024-2034), with the market size valued at USD 0.94 billion in 2023 and projected t%li%reach USD 23.32 billion by 2034.
Quantum computing is a ground-breaking technology that uses the principles of quantum mechanics t%li%execute various computation operations. Quantum computers use quantum bits, or qubits, as the fundamental unit of information, as opposed t%li%classical computers, which use bits. Qubits can exist in numerous states at the same time, which is called superposition, and they can even become entangled due t%li%which their states are interconnected regardless of distance. These unique properties empower quantum computers t%li%solve complex problems at exponentially faster rates than classical computers. In addition, quantum computing shows promising potential in tackling computationally difficult challenges across various domains, such as cryptography, drug discovery, and materials science. However, quantum computing als%li%presents significant hurdles related t%li%stability and error correction, which researchers are actively addressing.
MARKET HIGHLIGHTS
Quantum computing market is anticipated t%li%reach USD 23.32 billion, growing at a CAGR of 33.7% during the forecast period, attributed t%li%the growing investments from governmental bodies and private enterprises. The expansion of the quantum computing market is driven by the promising potential of this technology t%li%alter several industries ranging from healthcare t%li%finance. Moreover, innovations in quantum hardware and software, along with a growing demand t%li%solve complex problems, are serving as major catalysts for the growth of the market. Furthermore, collaborations among major technology companies and academic institutions are actively promoting innovation and accelerating commercialization efforts in the industry. Therefore, as quantum computing continuously evolves and overcomes technical challenges, it will provide extraordinary computational power, leading t%li%disruptive technological breakthroughs and multibillion-dollar valuations during the forecasted period.
Quantum Computing Market Segments:
- By Component
- Hardware
- Software
- Services
- By Deployment
- On-Premise
- Cloud
- By Application
- Optimization
- Machine Learning
- Financial Services
- Others
- By End User
- Healthcare
- BFSI
- Automotive
- Energy and Utilities
- Chemical and Manufacturing
- Others
Growth Drivers
Recent Breakthroughs in Research Has Contributed t%li%the Growth of the Market
Applications of Quantum Computing Across Industries are Driving Expansion
Restraint
Technical challenges present an important obstacle t%li%the adoption of quantum computing
Key Players
- IBM
- Microsoft
- Rigetti Computing
- IonQ
- D-Wave Systems
- Alibaba Quantum Lab
- Honeywell Quantum Solutions
- QuTech
- Quantum Brilliance
- Orca Computing
- Pasqal
- Xanadu
- Raytheon
- Intel
- Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected t%li%witness the fastest growth as well as t%li%dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect t%li%recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight int%li%the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years t%li%come
- 3-month post-sales analyst support.
1.EXECUTIVE SUMMARY
1.1. Regional Market Share
1.2.Business Trends
1.3. Quantum Computing Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1.Market Definition
3.2.Quantum Computing Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.QUANTUM COMPUTING MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2.COVID-19 overview of world economy
4.3.Industry Ecosystem Channel Analysis
4.4.Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7. MARKET DYNAMICS
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.RISK ANALYSIS
9. MARKET ANALYSIS
9.1.Porter's Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.QUANTUM COMPUTING MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. QUANTUM COMPUTING MARKET SIZE & FORECAST 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1.By Component
11.3.1.1. Hardware
11.3.1.1.1.By Value (USD Million) 2024-2034F
11.3.1.1.2. Market Share (%) 2024-2034F
11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Software
11.3.1.2.1. By Value (USD Million) 2024-2034F
11.3.1.2.2.Market Share (%) 2024-2034F
11.3.1.2.3.Y-o-Y Growth (%) 2024-2034
11.3.1.3.Services
11.3.1.3.1. By Value (USD Million) 2024-2034F
11.3.1.3.2.Market Share (%) 2024-2034F
11.3.1.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.2. By Deployment
11.3.2.1.On-Premise
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Cloud
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.By Application
11.3.3.1.Optimization
11.3.3.1.1. By Value (USD Million) 2024-2034F
11.3.3.1.2.Market Share (%) 2024-2034F
11.3.3.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.2. Machine Learning
11.3.3.2.1.By Value (USD Million) 2024-2034F
11.3.3.2.2. Market Share (%) 2024-2034F
11.3.3.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.3. Financial Services
11.3.3.3.1.By Value (USD Million) 2024-2034F
11.3.3.3.2. Market Share (%) 2024-2034F
11.3.3.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.4. Others
11.3.3.4.1.By Value (USD Million) 2024-2034F
11.3.3.4.2. Market Share (%) 2024-2034F
11.3.3.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.By End User
11.3.4.1.Healthcare
11.3.4.1.1. By Value (USD Million) 2024-2034F
11.3.4.1.2.Market Share (%) 2024-2034F
11.3.4.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.4.2. BFSI
11.3.4.2.1.By Value (USD Million) 2024-2034F
11.3.4.2.2. Market Share (%) 2024-2034F
11.3.4.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.3. Automotive
11.3.4.3.1.By Value (USD Million) 2024-2034F
11.3.4.3.2. Market Share (%) 2024-2034F
11.3.4.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.4.Energy and Utilities
11.3.4.4.1.By Value (USD Million) 2024-2034F
11.3.4.4.2. Market Share (%) 2024-2034F
11.3.4.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.5. Chemical and Manufacturing
11.3.4.5.1.By Value (USD Million) 2024-2034F
11.3.4.5.2. Market Share (%) 2024-2034F
11.3.4.5.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.6. Others
11.3.4.6.1.By Value (USD Million) 2024-2034F
11.3.4.6.2. Market Share (%) 2024-2034F
11.3.4.6.3. Y-o-Y Growth (%) 2024-2034F
12.NORTH AMERICA QUANTUM COMPUTING MARKET SIZE & FORECAST 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1.By Component
12.3.2. By Deployment
12.3.3. By Application
12.3.4. By End User
12.4. Country
12.4.1. United States
12.4.2. Canada
13.EUROPE QUANTUM COMPUTING MARKET SIZE & FORECAST 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Component
13.3.2. By Deployment
13.3.3. By Application
13.3.4. By End User
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.ASIA-PACIFIC QUANTUM COMPUTING MARKET SIZE & FORECAST 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Component
14.3.2. By Deployment
14.3.3. By Application
14.3.4. By End User
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.MIDDLE EAST AND AFRICA QUANTUM COMPUTING MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Component
15.3.2. By Deployment
15.3.3. By Application
15.3.4. By End User
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. LATIN AMERICA QUANTUM COMPUTING MARKET SIZE & FORECAST 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1.By Component
16.3.2. By Deployment
16.3.3. By Application
16.3.4. By End User
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1.IBM
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2.Google
18.3.Microsoft
18.4.Rigetti Computing
18.5.IonQ
18.6.D-Wave Systems
18.7.Alibaba Quantum Lab
18.8.Honeywell Quantum Solutions
18.9.QuTech
18.10.Quantum Brilliance
18.11. Orca Computing
18.12.Pasqal
18.13.Xanadu
18.14.Raytheon
18.15.Intel
18.16.Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
1.1. Regional Market Share
1.2.Business Trends
1.3. Quantum Computing Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1.Market Definition
3.2.Quantum Computing Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.QUANTUM COMPUTING MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2.COVID-19 overview of world economy
4.3.Industry Ecosystem Channel Analysis
4.4.Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7. MARKET DYNAMICS
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.RISK ANALYSIS
9. MARKET ANALYSIS
9.1.Porter's Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.QUANTUM COMPUTING MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. QUANTUM COMPUTING MARKET SIZE & FORECAST 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1.By Component
11.3.1.1. Hardware
11.3.1.1.1.By Value (USD Million) 2024-2034F
11.3.1.1.2. Market Share (%) 2024-2034F
11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Software
11.3.1.2.1. By Value (USD Million) 2024-2034F
11.3.1.2.2.Market Share (%) 2024-2034F
11.3.1.2.3.Y-o-Y Growth (%) 2024-2034
11.3.1.3.Services
11.3.1.3.1. By Value (USD Million) 2024-2034F
11.3.1.3.2.Market Share (%) 2024-2034F
11.3.1.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.2. By Deployment
11.3.2.1.On-Premise
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Cloud
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.By Application
11.3.3.1.Optimization
11.3.3.1.1. By Value (USD Million) 2024-2034F
11.3.3.1.2.Market Share (%) 2024-2034F
11.3.3.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.2. Machine Learning
11.3.3.2.1.By Value (USD Million) 2024-2034F
11.3.3.2.2. Market Share (%) 2024-2034F
11.3.3.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.3. Financial Services
11.3.3.3.1.By Value (USD Million) 2024-2034F
11.3.3.3.2. Market Share (%) 2024-2034F
11.3.3.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.4. Others
11.3.3.4.1.By Value (USD Million) 2024-2034F
11.3.3.4.2. Market Share (%) 2024-2034F
11.3.3.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.By End User
11.3.4.1.Healthcare
11.3.4.1.1. By Value (USD Million) 2024-2034F
11.3.4.1.2.Market Share (%) 2024-2034F
11.3.4.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.4.2. BFSI
11.3.4.2.1.By Value (USD Million) 2024-2034F
11.3.4.2.2. Market Share (%) 2024-2034F
11.3.4.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.3. Automotive
11.3.4.3.1.By Value (USD Million) 2024-2034F
11.3.4.3.2. Market Share (%) 2024-2034F
11.3.4.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.4.Energy and Utilities
11.3.4.4.1.By Value (USD Million) 2024-2034F
11.3.4.4.2. Market Share (%) 2024-2034F
11.3.4.4.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.5. Chemical and Manufacturing
11.3.4.5.1.By Value (USD Million) 2024-2034F
11.3.4.5.2. Market Share (%) 2024-2034F
11.3.4.5.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.6. Others
11.3.4.6.1.By Value (USD Million) 2024-2034F
11.3.4.6.2. Market Share (%) 2024-2034F
11.3.4.6.3. Y-o-Y Growth (%) 2024-2034F
12.NORTH AMERICA QUANTUM COMPUTING MARKET SIZE & FORECAST 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1.By Component
12.3.2. By Deployment
12.3.3. By Application
12.3.4. By End User
12.4. Country
12.4.1. United States
12.4.2. Canada
13.EUROPE QUANTUM COMPUTING MARKET SIZE & FORECAST 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Component
13.3.2. By Deployment
13.3.3. By Application
13.3.4. By End User
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.ASIA-PACIFIC QUANTUM COMPUTING MARKET SIZE & FORECAST 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Component
14.3.2. By Deployment
14.3.3. By Application
14.3.4. By End User
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.MIDDLE EAST AND AFRICA QUANTUM COMPUTING MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Component
15.3.2. By Deployment
15.3.3. By Application
15.3.4. By End User
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. LATIN AMERICA QUANTUM COMPUTING MARKET SIZE & FORECAST 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1.By Component
16.3.2. By Deployment
16.3.3. By Application
16.3.4. By End User
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1.IBM
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2.Google
18.3.Microsoft
18.4.Rigetti Computing
18.5.IonQ
18.6.D-Wave Systems
18.7.Alibaba Quantum Lab
18.8.Honeywell Quantum Solutions
18.9.QuTech
18.10.Quantum Brilliance
18.11. Orca Computing
18.12.Pasqal
18.13.Xanadu
18.14.Raytheon
18.15.Intel
18.16.Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
