Global Quantum Machine Learning Market Report 2024: Market Size, CAGR, Lucrative Segments And Top Regions

Quantum machine learning refers to the intersection of quantum computing and machine learning. It involves using quantum algorithms and quantum computing techniques to enhance machine learning algorithms and solve complex computational problems more efficiently than classical computers. Quantum machine learning aims to leverage the principles of quantum mechanics to process and analyze large datasets and improve the performance of machine learning models.

Sizing and Forecast
The quantum machine learning market size has grown exponentially in recent years. It will grow from $0.84 billion in 2023 to $1.12 billion in 2024 at a compound annual growth rate (CAGR) of 33.5%. The growth in the historic period can be attributed to increased investments in quantum machine learning technologies, adoption of quantum machine learning technologies, partnerships and collaborations, and investment and funding.

The quantum machine learning market size is expected to see exponential growth in the next few years. It will grow to $3.58 billion in 2028 at a compound annual growth rate (CAGR) of 33.6%. The growth in the forecast period can be attributed to rising need for advanced computing power, growing demand for software-as-a-service (SaaS) business models, advancements in quantum computing hardware and software, potential application in the banking and finance services sector and rapid growth of expanding economies. Major trends in the forecast period include advancement of quantum AI technologies, technological advancements, enhanced quantum algorithms, cloud-based quantum computing, and quantum machine learning frameworks.

Order your report now for swift delivery, visit the link:
https://www.thebusinessresearchcompany.com/report/quantum-machine-learning-global-market-report

Segmentation & Regional Insights
The quantum machine learning market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Depolyment: On-Premise, Cloud-Based
3) By End-User: Healthcare, Banking, Financial Services And Insurance (BFSI), Automotive, Researchers, Energy And Utilities, Chemical, Manufacturing, Other End-Users

North America was the largest region in the quantum machine learning market in 2023. The regions covered in the quantum machine learning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Intrigued to explore the contents? Secure your hands-on a free sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16168&type=smp

Major Driver Impacting Market Growth
The increased data generation is expected to propel the growth of the quantum machine learning market going forward. Data generation refers to creating synthetic data that mimics real-world data. The proliferation of connected devices fuels increased data generation, the growth of digital platforms and services, and the expansion of IoT (Internet of Things) technologies in various industries. Quantum machine learning algorithms can analyze data more efficiently than classical algorithms, allowing for faster processing of large datasets and extracting valuable insights. For instance, in March 2024, Edge Delta, a US-based software company, revealed that users had generated 64.2 Zettabytes (ZB) of data in 2020. They projected this number to reach 147 ZB by the end of 2024, indicating a substantial increase. Furthermore, by 2032, this volume is forecasted to skyrocket to 300 times higher than the data collected in 2027. Therefore, the increased data generation is driving the growth of the quantum machine learning market.

Key Industry Players
Major companies operating in the quantum machine learning market are  Google LLC, Microsoft Corporation, Alibaba Cloud, Amazon Web Services, Intel Corporation, Accenture plc, International Business Machines Corporation, Honeywell International Inc., Fujitsu, Atos SE, PsiQuantum Corp., Quantinuum Ltd., Xanadu, Quantum Machines, 1QB Information Technologies Inc., Multiverse Computing, Q-CTRL, Rigetti & Co LLC, IonQ Inc., QC Ware, Alice & Bob, D-Wave Quantum Inc., Zapata Computing Inc., Equal1 Laboratories Ireland Limited, ProteinQure Inc.

The quantum machine learning market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

Explore the trending research reports from TBRC:
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model