February 17, 2021
According to the research report titled ‘Global Quantum Computing Market Analysis, 2020’, available with Market Study Report LLC, global quantum computing market is reckoned to witness a y-o-y growth rate of 39% between 2020 and 2025.
Widespread adoption of advanced technologies such as machine learning and artificial intelligence, growing demand from cryptocurrency applications, and surging investments by healthcare institutions are key factors driving the growth of global quantum computing market.
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By offerings, global quantum computing market is split into services, software, and hardware. The deployment segmentation consists of hybrid, cloud, and on-premise. In terms of technology, the market is classified into quantum dots, trapped ion, superconducting, quantum annealing, and others.
The application scope of global quantum computing market consists of model optimization, numerical simulation, and machine learning. The report cites that the machine learning segment currently holds the highest market share in terms of revenue. However, the numerical simulation and model optimization segment is predicted to expand significantly in the ensuing years, primarily due to growing demand for advanced solutions.
Citing the end-user landscape, the market is categorized into government, academia, and private companies. The report states that although government and academia segments account for the largest market share, the private companies segment is expected to record 40% CAGR during 2020-2025. Escalating investments by private corporations towards development of nano-sensing technologies is favoring the overall market scenario.
Meanwhile, by sector, the industry is bifurcated into medical devices & imaging, life sciences & pharma, chemicals & materials, energy & power, automotive & mobility, logistics & transportation, agriculture, IT & communications, finance & investment, agriculture, aerospace & defense, and others.
Accenture plc, Fujitsu Ltd., Cambridge Quantum Computing Ltd., QC Ware Corp., Hewlett Packard Enterprise Co., Intel Corp., Google LLC, Lockheed Martin Corp., IBM Corp., and D-Wave Systems Inc. are the prominent companies operating in global quantum computing market.