The Quantum AI Market is Predict to reach USD 2.1 Billion by 2031, at a CAGR of 35.1%

Quantum AI Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Quantum AI Market size is expected to reach $2.1 billion by 2031, rising at a market growth of 35.1% CAGR during the forecast period.
Supportive government measures have a ripple effect across the quantum technology landscape. As governments provide the necessary financial and regulatory backing, more companies are encouraged to invest in quantum AI, increasing research activity, innovation, and market growth. For instance, the Canadian government’s investments in quantum technologies have led to a vibrant quantum AI sector in Canada, with companies like D-Wave and Xanadu leading the way in quantum computing and AI integration. This has positioned Canada as a global hub for quantum AI innovation, attracting talent and investment worldwide.

The on-premises segment is registering a CAGR of 34.7 % during the forecast period. Cloud-based Quantum AI solutions are gaining traction due to their flexibility, scalability, and accessibility. They enable organizations to capitalize on quantum computing capabilities without making considerable initial investments in hardware and infrastructure.

The Machine learning & Optimization segment led the Global Quantum AI Market by Application in 2023; thereby, achieving a market value of $919.8 million by 2031. The segment's dominant position can be attributed to the growing demand for sophisticated AI algorithms that are capable of efficiently solving optimization problems and managing complex data sets, in contrast to classical computing.

The hardware segment is growing at a CAGR of 34.5 % during the forecast period. This segment's dominance is driven by the significant investment required to develop and manufacture quantum computers and related infrastructure. Quantum computing hardware, including qubits, quantum processors, cryogenic systems, and control electronics, forms the foundation of Quantum AI systems.

Full Report: https://www.kbvresearch.com/quantum-ai-market/

The North America region dominated the Global Quantum AI Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $873.2 million by 2031. The Europe region is anticipated to grow at a CAGR of 34.6% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 36% during (2024 - 2031).

List of Key Companies Profiled

• Amazon Web Services, Inc. (Amazon.com, Inc.)
• Microsoft Corporation
• Google LLC
• IBM Corporation
• Fujitsu Limited
• Intel Corporation
• Toshiba Corporation
• Rigetti Computing, Inc.
• D-Wave Systems Inc.
• Hitachi Digital Services, LLC (Hitachi Ltd.)

Quantum AI Market Report Segmentation

By Deployment Mode

• On-premises
• Cloud based

By Application

• Machine learning & Optimization
• Simulation and Modeling
• Cryptography & Security

By Component

• Hardware
• Software
• Services

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America Quantum AI Market Size & Forecast | 2031

• September-2024
• 120 Pages

LAMEA Quantum AI Market Size & Growth Analysis to 2031

• September-2024
• 129 Pages

Europe Quantum AI Market Size & Analysis Report to 2031

• September-2024
• 128 Pages

Asia Pacific Quantum AI Market Size, Share Report 2031

• September-2024
• 129 Pages