The Global Enterprise Quantum Computing Market size is expected to reach $6.4 billion by 2028, rising at a market growth of 24.4% CAGR during the forecast period.
A fast-developing technology called quantum computing uses the principles of quantum physics to address issues that are too complicated for conventional computers. The operations of quantum computing may make use of quantum mechanical phenomena, including superposition, entanglement, and interference. Quantum computers are gadgets that carry out quantum calculations. Larger realizations of quantum computers are thought to be capable of solving some computational problems, like integer factorization (which underlies RSA encryption), much more quickly than classical computers, even though current quantum computers are also too small to outperform regular (classical) computers for practical applications.
A branch of quantum information science is the study of quantum computing. It is based on the fundamental principles that control the subatomic realm, where basic particles may exist in several states and locations at once. A quantum computing model uses the technology to examine the behavior of matter and energy at the quantum level.
The logic gate of the quantum computer has two operating modes: XOR and QO1 (the ability to change 0 into a superposition of 0 and 1). Numerous elementary particles, such as electrons or photons, may be employed in a quantum computer. Every particle has a charge or polarization that serves as a representation of the numbers 0 and/or 1. A quantum bit, or qubit, is the name given to each particle. Quantum computing and quantum supremacy are both based on the characteristics and actions of these particles. The concepts of superposition and entanglement are the two components of quantum physics that are most important.
In recent years, the market for corporate quantum computing has expanded. This is because modern agricultural techniques are increasingly being used all over the world, which fuelled market expansion throughout the pandemic. However, the market saw a modest fall in software sales in the first months of 2020 and 2021 as a result of the COVID-19 pandemic. This was ascribed to the majority of nations putting their citizens on lockdown and closing down cities to stop the spread of the virus.
In order to use quantum computers to perform various optimization and simulation tactics, several government agencies involved in the global space and military industries are spending more and more on the development of quantum computing technology. Governments from many different nations are funding their research institutions with substantial sums of money in order to further the development of quantum computing. Nations are making large investments in the study and development of quantum computing technologies.
In order to enhance their strategic, insight-driven, and operational capabilities, businesses use AI-powered solutions. Artificial intelligence (AI) may increase productivity and allow automated data processing by automating complex and repetitive activities. IT teams may utilize AI to handle and monitor important tasks. The businesses offering cloud solutions and services are consistently focusing on R&D operations, product improvements, and cutting-edge product launches thanks to the integration of Big Data, AI, and ML.
Quantum computers now employ physical qubits, which are prone to mistakes. It is challenging to commercialize quantum computers. Due to their fragility and ease of disruption by changes in the temperature, noise, and frequency of their surroundings, qubits cannot yet be kept in their quantum mechanical state for an extended amount of time. Additionally, a number of blockchain-based solutions use the ECDSA, a digital signature method that is not yet quantum-safe.
Based on the deployment mode, the enterprise quantum computing market is classified into on-premise and cloud. In 2021, the cloud segment garnered the substantial revenue share in the market. As more durable systems are created, there will certainly be a rise in demand for cloud-based computing solutions and services. Along with increasingly comprehensive solutions from the leading industry players, the cloud is also offering a number of other ways to build quantum computers. The flexibility of access offered to consumers is another aspect that contributes to the popularity of cloud-based services and systems.
Based on technology, the enterprise quantum computing is segmented into quantum annealing, superconducting, trapped ions, quantum dots, and others. The superconducting segment had the most revenue share in 2021. This market is growing because superconducting qubit-based quantum computers operate more quickly than equivalent machines using other technologies. In the next years, it is anticipated that IT giants like IBM, Google, and Intel would introduce their superconducting qubit-based quantum computing services.
Based on application, the enterprise quantum computing market is classified into machine learning/deep learning/AI, optimization, simulation & data modeling, cyber security, and others. In 2021, the market for corporate quantum computing experienced a significant increase in the revenue share of the machine learning/deep learning/AI sector. Users may learn about the estimate of quantum system characteristics, quantum error-correcting codes, and the creation of unique quantum algorithms thanks to machine learning, artificial intelligence, and deep learning. Quantum algorithms are included in machine learning software as part of quantum machine learning.
Based on component, the enterprise quantum computing market is classified into hardware, software, and services. In terms of revenue, the hardware segment had the largest revenue share in 2021. As hardware represents a substantial bottleneck in the ecosystem, growth in this sector is expected. There are several hardware platforms developed for quantum computing. All commercially viable quantum computers are based on superconducting circuits and trapped ions, which are majorly sophisticated. Spin qubits, neutral atoms, and photonic networks are other intriguing platforms.
Based on vertical, the enterprise quantum computing market is classified into manufacturing, BFSI, energy & utilities, aerospace & defense, healthcare & life sciences, IT and telecom, and others. The enterprise quantum computing market had a significant revenue share in 2021 in the telecom and IT categories. Many firms are now making significant efforts to transition to IT infrastructures that are quantum-safe. The term "cryptoagility" is often used to describe a system architecture that is adaptable enough to quickly accept new cryptographic techniques with no negative influence on the system's functioning.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 1.2 Billion |
| Market size forecast in 2028 | USD 6.4 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 24.4% from 2022 to 2028 |
| Number of Pages | 362 |
| Number of Tables | 603 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Deployment Mode, Technology, Application, Component, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
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| Restraints |
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Based on geography, the enterprise quantum computing market is classified into North America, Europe, Asia Pacific, and LAMEA. In terms of revenue share, the enterprise quantum computing market in 2021 was dominated by the North American region. The primary driver of the segment's growth is the rapid adoption of technology in the area. The United States is expected to continue to be one of the most valued markets. The United States has a high adoption rate for quantum computing technology as a result of the presence of many users and important companies headquartered here.
Free Valuable Insights: Global Enterprise Quantum Computing Market size to reach USD 6.4 Billion by 2028
The major strategies followed by the market participants are Product launches. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation and Google LLC are the forerunners in the Enterprise Quantum Computing Market. Companies such as IBM Corporation, Alibaba Group Holding Limited, and Huawei Technologies Co., Ltd. are some of the key innovators in Enterprise Quantum Computing Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Alibaba Group Holding Limited, D-Wave Systems Inc., Google Llc, Huawei Technologies Co. Ltd., Id Quantique, Intel Corporation, IBM Corporation, Microsoft Corporation, Rigetti & Co, Inc., and Toshiba Corporation
By Deployment Mode
By Technology
By Application
By Component
By Vertical
By Geography
The global Enterprise Quantum Computing Market size is expected to reach $6.4 billion by 2028.
Investment in Quantum Technologies is on the Rise are driving the market in coming years, however, Problems with stability and mistake correction restraints the growth of the market.
Alibaba Group Holding Limited, D-Wave Systems Inc., Google Llc, Huawei Technologies Co. Ltd., Id Quantique, Intel Corporation, IBM Corporation, Microsoft Corporation, Rigetti & Co, Inc., and Toshiba Corporation
The Cyber security market acquired maximum revenue share the Global Enterprise Quantum Computing Market by Application in 2021; thereby, achieving a market value of $2.0 billion by 2028.
The On-premises market is leading the Global Enterprise Quantum Computing Market by Deployment Mode in 2021; thereby, achieving a market value of $3.5 billion by 2028.
The North America market dominated the Global Enterprise Quantum Computing Market by Region in 2021; thereby, achieving a market value of $2.4 billion by 2028.
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