Global Enterprise Quantum Computing Market by Component, Software, Analysis and Industry Forecast, 2018 - 2025
September 24, 2019 by Jason Lee
The principles of quantum phenomena and integration of quantum particles into the quantum devices are the major components that allows quantum computing to function. Unlike classical computers, quantum computing system uses quantum chips, which is made of several quantum bits (qubits) to process the data. Also, the higher the number of qubits used in a single quantum chip, the easier it gets to solve complex problems. Therefore, many major industries focus on R&D of quantum chip with less or no error and greater stability. Moreover, some companies are focused on using technologies such as quantum annealing, ion trapping, superconducting, topological photonic, and others for its development.
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Furthermore, it is being adopted across various industrial sectors, owing to the wide applications which drive the market growth. The quantum computing technology has numerous benefits, which allows its users to build the strategies in different ways. Although being in development phase, some of the industry players have already developed the quantum computers for commercial purposes and they also plan to deploy quantum computing solutions through cloud platforms. The global enterprise quantum computing market was valued at $650 million in 2017 and is projected to reach $5,853 million by 2025, growing at a CAGR of 31.7% from 2018 to 2025.
Early adoption of quantum computing within the defense and automotive sectors is one of the major factors that drives the growth of the market. In addition, surge in investment by government entities within the market and rise in use of simulation and modeling are one of the major factors that boost the growth of the enterprise quantum computing market. However, technological challenges such as, quantum computing stability and error correction hamper the growth of the market. Furthermore, emergence of on-premises quantum computing for businesses are expected to provide opportunities for the growth of the market.
The global enterprise quantum computing market is segmented into component, deployment, technology, application, industry vertical, and region. Based on component, the market is classified into hardware, software, and services. As per deployment, the market is bifurcated into on-premise, and cloud. In terms of technology, the market is divided into quantum annealing, superconducting, trapped ion, quantum dot, and others. Based on application, the market is categorized into machine learning/deep learning/AI, optimization, simulation & data modelling, cyber security, and others. Based on industry verticals, the market is categorized into, healthcare & life sciences, IT and telecom, manufacturing, BFSI, energy & utilities, aerospace & defense, and others. Based on region, market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global enterprise quantum computing market is dominated by key players such as Alibaba Group, D-Wave Systems Inc., Google, Huawei Technologies Co., Ltd., International Business Management Corporation (IBM), ID Quantique, Intel Corporation, Microsoft, Rigetti & Co, Inc., and Toshiba Research Europe Ltd.
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Key Benefits for Enterprise Quantum Computing Market:
The study provides an in-depth analysis of the global enterprise quantum computing market along with current trends & future estimations to elucidate the imminent investment pockets.
Information about the key drivers, restraints, and opportunities and their impact analyses on the market is provided.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global enterprise quantum computing market from 2018 to 2025 is provided to determine the market potential.
Enterprise Quantum Computing Key Market Segments:
Quantum Annealing (Adiabatic)
Machine Learning/Deep learning/AI
By Industry Verticals
Healthcare & Life Sciences
Key Market Players Profiled in the Report
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