Global Market for Quantum Computing
Dublin, July 05, 2022 (GLOBE NEWSWIRE) -- The "Quantum Computing - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Quantum Computing Market to Reach $411.4 Million by 2026
The global market for Quantum Computing estimated at US$112.6 Million in the year 2020, is projected to reach US$411.4 Million by 2026, growing at a CAGR of 24.2% over the analysis period.
Quantum computing presents a dynamic paradigm for solving complex optimization issues due to its ability to process information in a different manner than classical computers. The market is primarily steered by increasing government and private funding on research programs intended to leverage quantum computing for information processing and other applications.
Factors such as increasing incidents of cybercrime coupled with growing adoption of emerging technologies such as machine learning, smart manufacturing, cloud computing and molecular structure research are anticipated to set a perfect stage for growth of the quantum computing market.
While increasing application in sectors like defense, healthcare, chemicals and banking are favoring the market, availability of fault-tolerance systems and efforts to leverage quantum computing for realistic programs are expected to fuel the market growth.
The U.S. Market is Estimated at $62.4 Million in 2021, While China is Forecast to Reach $54.6 Million by 2026
The Quantum Computing market in the U.S. is estimated at US$62.4 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$54.6 Million by the year 2026 trailing a CAGR of 27.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18% and 22.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 22.4% CAGR. The US is the dominant market, due to increasing focus of government agencies and the defense and aerospace sectors on quantum computing to leverage machine learning.
By End-Use, Space & Defense Segment to Reach $146.4 Million by 2026
Quantum technologies remain key research focus within the space & defense sector owing to their disruptive role in a diverse spectrum of areas and applications. The incorporation of quantum computing technologies is anticipated to considerably benefit the space and defense establishments.
The concept is expected to enable exciting military applications and support national programs. In the global Space & Defense (End-Use) segment, USA, Canada, Japan, China and Europe will drive the 22.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$37.5 Million in the year 2020 will reach a projected size of US$162.2 Million by the close of the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Space & Defense: Largest End-Use Sector
Current Slowdown in Defense Spending Impacts Market
Expected Military Budget Cuts Emerges as a Setback for Quantum Computing in Defense Applications: UK & Japan Defense Budgets: A Pre & Post COVID-19 Comparison (In US$ Billion)
Transportation Sector: Fastest Growing Sector
Sluggish Trend in Automotive & Aviation Sectors Hampers Current Prospects
Expected Revenue Losses in Global Aviation (In US$ Billion) for April, July & December 2020
Global Fleet of Commercial Aircraft in 2036 by Region (in Units)
Automobile Production % YoY Change Across Select Countries: 2020 Vs 2019
Reduction in Automotive Demand in 2020 (In Million Vehicles)
World Automobile Production in Million Units: 2008-2022
Quantum Computers Exude Potential to Help Healthcare & Lifesciences Communities
World Healthcare Expenditure (In US$ Billion) for the Years 2017, 2019, 2021 & 2023
Quantum Computing Set to Transform Finance & Banking Landscape with Remarkable Processing Power
Quantum Computing Presents New Paradigm to Optimize Energy Infrastructure
Global Primary Energy Consumption (Billion Toe): Growth Trajectory for the Period 1990-2040
Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
Quantum Computing Holds Significant Ramifications for Chemical Industry
Quantum Computing to Hold Fundamental Role in Delivery of Quality IoT Services
Global Number of IoT Connected Devices (In Billion) for the Years 2016, 2018, 2020, 2022 & 2025
Global IoT Spending: Percentage Breakdown by Industry Vertical for the Years 2018 and 2022
Quantum Cryptography Elevates the Overall Momentum in Quantum Computing
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
REST OF WORLD
1QB Information Technologies Inc
Atom Computing Inc
Cambridge Quantum Computing Ltd
D-Wave Systems Inc
Fraunhofer Institute for Applied Solid State Physics IAF
Hewlett Packard Enterprise (HP)
Honeywell International, Inc
International Business Machines Corporation (IBM)
Magiq Technologies Inc
Nippon Telegraph And Telephone Corporation (NTT)
Northrop Grumman Corporation
QC Ware Corp
River Lane Research
Zapata Computing, Inc
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