Key Players Amazon, Microsoft, IBM, Intel & More Drive Growth in $3.2 Billion Industry

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Dublin, Nov. 23, 2022 (GLOBE NEWSWIRE) — “Global Quantum Computing Market: Analysis by Component, by Application, by Technology, by End-User, by Region Size and Trends with Impact of COVID-19 and Forecast to 2027 ” message is attached ResearchAndMarkets.com the offer.

In 2021, the global quantum computing market was valued at US$ 442.32 million and is expected to grow to US$ 3,295.97 million by 2027. Quantum computing is a new technology that uses the laws of quantum mechanics to solve problems that are too difficult for traditional computers. The word “quanta” comes from the physics concept of quantum mechanics, which defines the physical properties of electrons and photons.

Quantum computers work on the concept of “qubits”. A qubit, also known as a quantum bit, is a basic unit of quantum information that is physically implemented using a two-state device. Some of the main reasons why companies are switching to quantum computing are the growing demand for high-performance computing, the growing popularity of quantum mechanics in cryptography, the growing use of quantum computing in drug development, etc. The quantum computing market is expected to grow at a CAGR of approximately 39.88% during the forecast period 2022-2027.

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Market Segmentation Analysis:

  • By Component: The report divides the quantum computing market into three segments on the basis of component: hardware, software, and services.

  • By Application: The report divides the global quantum computing market into three segments based on application: optimization, machine learning, and materials simulation.

  • By Technology: The report provides segmentation of the quantum computing market on the basis of technology: quantum quenching, superconducting, trapped ions, quantum dot, and others.

  • By End User: The report divides the global quantum computing market into twelve segments based on end user: Finance & Investment, Transportation & Logistics, Aviation, Agriculture, Automotive, Energy, Healthcare, Information Technology, Life Sciences, Manufacturing, Oil, Gas & Mining and others. The agricultural quantum computing market is expected to grow at the highest CAGR.

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Global Quantum Computing Market Dynamics:

Drivers of growth

  • Growing investment in quantum technology

  • The rise of quantum computing startups

  • Growth of strategic partnerships and collaborations

  • Growing Demand for High Performance Computing (HPC)

  • The growing use of quantum computing in drug development

  • Growing adoption of quantum computing in banking financial services

Challenges

  • High cost of quantum computing solutions

  • Stability and bug fixing issues

  • Lack of talent for quantum computing

  • Concerns about breaking public key encryption

Market trends

  • Growing adoption of cloud-based quantum computing

  • Integrating Quantum Computing with IoT (Internet of Things)

  • The popularity of quantum mechanics in cryptography

  • Technological advances in quantum computing

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The main players

  • Amazon.Com, Inc. (Amazon Web Services, Inc.)

  • Microsoft Corp. (Microsoft Azure)

  • Alphabet Inc. (Google Cloud Platform)

  • Alibaba Group (Alibaba Cloud)

  • IBM

  • Intel Corporation

  • Nvidia Corporation

  • Toshiba Corporation

  • Righetti computing

  • Quantum Computing Inc.

  • D-Wave Systems Inc.

  • Zapata computing

  • Xanadu Quantum Technologies Inc.

  • QC Ware Corp.

  • Jon Q

Main topics covered:

1. Summary

2. Introduction

3. Global market analysis

4. Regional market analysis

5. Impact of Covid-19

6. Market dynamics

7. Competitive landscape

8. Company profiles

For more information on this report, visit https://www.researchandmarkets.com/r/3lxugs

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

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