Overview and Scope
Topological quantum computing (TQC) is a theoretical framework for quantum computing that relies on the principles of topology, a branch of mathematics concerned with the properties of geometric objects that remain unchanged under continuous deformations. It is employed to construct a quantum computer with reduced decoherence, which refers to the vulnerability of quantum systems to errors resulting from imperfect execution of quantum gates or interactions with the surrounding environment.
Sizing and Forecast
The topological quantum computing market size has grown exponentially in recent years. It will grow from $2.07 billion in 2023 to $2.56 billion in 2024 at a compound annual growth rate (CAGR) of 24.1%. The growth in the historic period can be attributed to the demand for enhanced simulation and modeling, the growing complexity of automotive systems, the rising focus on cybersecurity, collaborative research initiatives, and regulatory pressure and emissions reduction.
The topological quantum computing market size is expected to see exponential growth in the next few years. It will grow to $6.14 billion in 2028 at a compound annual growth rate (CAGR) of 24.4%. The growth in the forecast period can be attributed to the connected car ecosystem, advanced materials development, cybersecurity enhancement, supply chain optimization, regulatory compliance and sustainability, and industry collaboration and partnerships. Major trends in the forecast period include advancements in error correction, increased commercialization of topological quantum computing technologies, expansion of topological quantum computing research and development activities, and growth in educational programs and initiatives focused on topological quantum computing.
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Segmentation & Regional Insights
The topological quantum computing market covered in this report is segmented –
1) By Offering: System, Service
2) By Deployment: On-Premises, Cloud
3) By Application: Optimization, Simulation, Machine Learning
Asia-Pacific was the largest region in the topological quantum computing market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the topological quantum computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing banking sector is expected to propel the growth of the topological quantum computing market going forward. The banking sector refers to the industry comprising financial institutions that provide various financial services, primarily focusing on accepting deposits from customers and providing loans and credit. The banking sector is rising due to increasing global economic activity, technological advancements, and evolving consumer needs, driving demand for financial services and products. Topological quantum computing in the banking sector revolutionizes encryption methods, enhancing transaction security and sensitive data handling. For instance, in January 2024, according to the Federal Reserve Bank of St. Louis, a US-based federal bank, the total revenue for commercial banking in the United States increased to $566,887 million in 2022, compared to $518,111 million in 2020 and $512,146 million in 2021. Therefore, the growing banking sector is driving the growth of the topological quantum computing market.
Key Industry Players
Major companies operating in the topological quantum computing market are Google LLC, Microsoft Corporation, The International Business Machine Corporation, Honeywell International Inc, Fujitsu Limited, PsiQuantum, Xanadu Quantum Technologies, Terra Quantum, Quantum Circuits Inc., Zapata Computing Inc., Q-CTRL, Rigetti Computing Inc, IonQ Inc., ISARA Corporation, QC Ware Forge, D-Wave Systems Inc., Quantinuum Ltd, Alpine Quantum Technologies, Anyon Systems, QpiAI Tech, Multiverse Computing
The topological quantum computing market report table of contents includes:
1. Executive Summary
2. Topological Quantum Computing Market Characteristics
3. Topological Quantum Computing Market Trends And Strategies
4. Topological Quantum Computing Market – Macro Economic Scenario
5. Global Topological Quantum Computing Market Size and Growth
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32. Global Topological Quantum Computing Market Competitive Benchmarking
33. Global Topological Quantum Computing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Topological Quantum Computing Market
35. Topological Quantum Computing Market Future Outlook and Potential Analysis
36. Appendix
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