High-Level Performance Needs Driving the Growth of Global Market for Quantum Computing
Optimization and management of information, harvested within an organization or from different parts of the world entails, entails the employment of efficient computing processes to handle ever-expanding data workloads. To achieve this, enterprises or government-backed organizations are adopting quantum computing, and processing data in qubits. Through quantum computing, companies can search files across large databases instantaneously, assessing data quicker than conventional computing.
Persistence Market Research’s new study on global market for quantum computing emphasizes the monumental impact of rising need for high-level computing on the market’s growth. In 2017, the global quantum computing market is anticipated to be valued at US$ 2.7 Bn. Governments of developed and developing countries are investing in quantum computing to accelerate their research operations, while commercialization of quantum computing is also gaining traction. On the grounds of such drivers, more than US$ 23 Bn revenues are anticipated to be reaped through adoption of quantum computing across the globe by the end of 2025. During this decadal forecast period, the global market for quantum computing is expected to expand exponentially at a stellar CAGR of 30.9%.
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The study on global quantum computing market has analyzed the market on the basis of components – hardware and software. With development of cloud-enabled quantum computing platform, new software are expected to transform the market’s expansion even further. The demand for effective quantum computing hardware is also expected to witness lucrative boost, although manufacturers will be put to test while developing hardware with flexible computing abilities.
While sales of quantum computing hardware are presently dominating the market with more than 90%, their global revenue share is expected to drop to 84% by the end of 2025
The significant decline in quantum computing hardware will be balanced by surging adoption of quantum computing software, revenues from which are anticipated to reflect fastest CAGR of 42.3%
According to the study, the competitive landscape of global quantum computing market is divided into two tiers of computing vendors. With more than 90% share, tier 1 quantum computing vendors are companies developing hardware, while the remaining 10% of the market is governed by developers of quantum computing software applications. The top five players in the global quantum computing market are profiled below:
Google Inc. (Alphabet Inc.),
D-Wave Systems Inc., and
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Companies such as 1QB Information Technologies Inc., QC Ware Corp., and QbitLogic are observed to be leading developers of quantum computing software applications. Other key players in the global quantum computing market include Rigetti Computing., Anyon Systems Inc., Cambridge Quantum Computing Ltd., IDQ, IonQ Inc., Quantum Circuits, Inc., Alibaba Quantum Computing Laboratory, Nokia Bell Labs, Hewlett Packard, Booz Allen Hamilton Inc., Toshiba Research Europe Ltd., USC Lockheed Martin Quantum Computation Center, , QuantumCTek Co., Ltd, SeeQC, SPARROW
QUANTUM A/S, QxBranch, and Qubitekk, Tokyo Quantum Computing.
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