Exploring Quantum Computing Market Opportunity, Latest Trends, Demand, and Development By 2030| MarkNtel
MarkNtel Advisors recently published a detailed industry analysis of the Quantum Computing Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Quantum Computing Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The Quantum Computing Market size is valued at USD value 1.1 billion in 2023 and is projected to reach USD 5.2 Billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 38.98% during the forecast period, i.e., 2024-30.
What are the major Driver the Quantum Computing industry?
Rising Investments in Quantum Technology - Government initiatives and private sectors are both continuously investing in the development of quantum technologies. the Chinese government, the government of the USA, and Australia, along with countries from the European Union, are supporting the ventures of quantum technological developments through funding, along with prominent company players in the USA competitively investing in its advancement.
For Instance, In February 2024, the U.K. government declared speculation of USD 48.4 million for quantum computers and USD 29 million for novel semiconductors. This investment will help the government of the United Kingdom to build the U.K. into a science, and innovation superpower, and to construct a quantum-enabled economy by 2033.
Consecutively, it leads to an expanding application and commercialization of quantum computers. In addition, the industry developments are also reflected in the proliferation of quantum technology in various sectors, including banking and retail. Thus, these investments are primarily fueling the further market growth of the Quantum Computing Market.
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What segments define the Quantum Computing market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
· By Offerings
o Hardware
o Software
o Services
· By Deployment
o On Premises
o Cloud
o Hybrid
According to report, On the basis of Deployment, the Cloud-based deployment is anticipated to result in a significant value source during the forecast period.
· By Technology
o Quantum Annealing
o Superconducting
o Trapped Ion
o Quantum Dots
o Others
· By Application
o Machine Learning
o Numerical Simulation
o Model Optimization
According to report, On the basis of the Applications, the machine learning segment will hold the maximum market share of the Quantum Computing market, during the forecast period.
· By End User
o Private Companies
o Academia
o Government
· By Sector
o Aerospace & Defense
o Agriculture
o Finance & Investment
o IT & Communications
o Agriculture
o Logistics & Transportation
o Automove & Mobility
o Energy & Power
o Chemicals & Materials
o Life Sciences & Pharma
o Medical Devices & Imaging
o Others
Explore the Complete Quantum Computing Market Analysis Report – https://www.marknteladvisors.com/research-library/global-quantum-computing-market.html
Geographical Analysis: Quantum Computing Market
o North America
o South America
o Europe
o Asia-Pacific
o Rest of the World
Quantum Computing Market Share & Competitive Landscape:
The Quantum Computing Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry's leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the Quantum Computing Market are:
- D Wave System Inc.
- IBM Corporation
- Lockheed Martin
- Google Research
- Intel Corporation
- Hewlett Packard Enterprise
- QC Ware Corporation
- Cambridge Quantum Computing Ltd.
- Fujitsu Ltd.
- Accenture
Quantum Computing Industry Recent Development:
- In February 2024, D-Wave, launched their latest prototype, the Advantage2, bragging over 1.200 qubits, via their leap quantum cloud service. It enables the current leap subscribers to access the latest hardware quickly, while newcomers can register for the leap & enjoy up to one minute of free usage of the Advantage2 prototype, along with other quantum processing units, and solvers available on the platform.
- In December 2023, IBM, declared a collaboration with Keio University, the University of Tokyo, Yonsei University, Seoul National University, and the University of Chicago to enhance quantum education across Korea, Japan, and the U.S. Through this collaboration, IBM aims to offer educational programs, alongside inputs from each participating university, with the goal to train up to 40,000 students over the next 10 years. This effort seeks to offer students the required skills for the emerging quantum workforce, and foster the development of a burgeoning quantum computing ecosystem.
- In October 2023, Fujitsu Ltd., partnered with RIKEN & developed AI drug discovery technology. This launch of AI drug discovery technology unites the computing power of the newly developed 64 qubits superconducting quantum computer to deliver a new platform to research institutions and businesses.
Questions Addressed in this Study
1. What factors are driving the Quantum Computing Market growth?
2. How is the Quantum Computing Market expected to grow over the next five years?
3. What are the key insights into the current trends in the Quantum Computing Market?
4. What is the current size of the Quantum Computing Market, and how is it projected to change in the future?
6.What is the future outlook for the Quantum Computing Market in terms of technological advancements and market expansion?
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Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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