Quantum Computing And Technologies Market Outlook 2024-2033: Trends and Projections

 

Market Size – The quantum computing and technologies market size has grown exponentially in recent years. It will grow from $0.82 billion in 2023 to $1.10 billion in 2024 at a compound annual growth rate (CAGR) of 33.6%. The growth in the historic period can be attributed to the rise of cloud-based quantum computing platforms, growth in quantum machine learning, growth in the number of startups, increased adoption of quantum-inspired algorithms, and growth in government funding.

The quantum computing and technologies market size is expected to see exponential growth in the next few years. It will grow to $3.51 billion in 2028 at a compound annual growth rate (CAGR) of 33.8%. The growth in the forecast period can be attributed to increasing investment in quantum computing startups, growing demand for cryptographic security, increased demand for handling and analyzing data, rising incidences of cybercrime, and growing internet penetration. Major trends in the forecast period include growing demand for high-performance computing solutions, a growing need for simulating complex systems, a growing number of startups and companies, and rising demand for quantum sensors.

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Scope Of Quantum Computing And Technologies MarketThe Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Quantum Computing And Technologies Market Overview

Market Drivers –The increased volume of unstructured data is expected to propel the growth of the quantum computing and technologies market going forward. Unstructured data refers to information that does not have a pre-defined data model or needs to be organized pre-determined, making it difficult to process and analyze using conventional databases and tools. The widespread adoption of digital technologies and the digitization of processes across various industries have led to a significant increase in the daily volume of digital content. This includes unstructured text documents, emails, social media posts, images, videos, audio files, and sensor data. Quantum computing and technologies are used to analyze, interpret, and understand natural language, images, and patterns, enabling machines to mimic human decision-making processes in unstructured data. For instance, in October 2021, according to Straive, a Singapore-based content technology solutions copmany, the volume of unstructured data increases by 55 to 65 % per year. Furthermore, unstructured data are anticipated to account for about 80% of the data that companies will process every day by 2025. Therefore, an increase in the volume of unstructured data is driving the growth of the quantum computing and technologies market.

Market Trends – Major companies operating in the quantum computing and technologies market are increasing their focus on innovative solutions such as quantum optics and nanophononics technology to meet the growing demand for advanced quantum computing capabilities and address the limitations of existing quantum technologies. Quantum optics and nanophononics deal with the fundamental interactions between light and matter at the nanoscale, providing crucial insights for developing quantum computers and related technologies. For instance, in February 2024, Quantum Computing Inc., a US-based technology company, launched the Dirac-3 entropy quantum computer (EQC), a quantum computing platform. The EQC combines quantum optics and nanophononics technologies to modify an issue encoded into its photonic architecture. The EQC modifies how the variables interact through optical feedback loops before settling into a ground state or optimum solution. The Dirac-3 EQC uses quantum digits (qdits), which are quantum bits (qubits) having 200 discrete modes each, rather than the qubits used in standard quantum computing devices.

The quantum computing and technologies market covered in this report is segmented –

1) By Component: Hardware, Software, Services
2) By Type Of Technology: Blockchain, Adiabatic, Measurement-based, Superconducting, Topological
3) By Deployment: Cloud-Based, On-Premises
4) By Applications: Cryptography, Internet Of Things (IoT), Big Data, Artificial Intelligence, Machine Learning, Teleportation, Simulation And Data Optimization
5) By Verticals: Banking, Financial Services, And Insurance (BFSI), Healthcare And Lifesciences, Information Technology And Telecommunications, Manufacturing, Government, Aerospace And Defense, Other Verticals

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Regional Insights – North America was the largest region in the quantum computing and technologies market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the quantum computing and technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies – Major companies operating in the quantum computing and technologies market are Volkswagen AG, Google LLC, Microsoft Corporation, Mitsubishi Corporation, Huawei Technologies Co. Ltd., Amazon Web Services Inc., Raytheon Technologies Corporation, Intel Corporation, The Hewlett-Packard Company, International Business Machines Corporation , Nokia Corporation, Toshiba Corporation, NEC Corporation, SK Telecom Co. Ltd., Rigetti Computing Inc., Pasqal, Riverlane Ltd., IonQ Inc., D-Wave Systems Inc., Quantum Circuits Inc., Alpine Quantum Technologies GmbH, Multiverse Computing, ANT GmbH, Zapata Computing Inc

Table of Contents 1. Executive Summary2. Quantum Computing And Technologies Market Report Structure3. Quantum Computing And Technologies Market Trends And Strategies4. Quantum Computing And Technologies Market – Macro Economic Scenario5. Quantum Computing And Technologies Market Size And Growth…..27. Quantum Computing And Technologies Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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