Global Quantum Computing Market Opportunities and Forecast 2023-2030
- DLR1884
- 05 May, 2020
- Aerospace & Defense
- Pages: 120
- Global
Global Quantum Computing Market, By Application (Optimization, Material Simulation, Machine Learning,), By End Use (Space and Defence, Automotive, Healthcare, Banking and finance, Chemical) opportunities and forecast 2023-2030
Covid-19 Impact on Quantum Computing Market:
As the COVID-19 pandemic continuing its effect around the world, many defense and aerospace companies are facing its impact during this time around the world. For instance, commercial aviation companies in the U.S., France, Germany, and Canada are facing disruption in the production process and reduced demand as workforces staying at home, passengers stop traveling, and delay in delivery of new aircraft. Analysts expecting a drop from 3,000 to 4,000 aircraft during the pandemic period. On the defense side, contractors operating in the sector are in a better position, hence the impact of the pandemic is likely low in the short to mid-term. However, low demand due to budget constraints affecting the production as in aircraft manufacturing.
Market Overview
The need for the robust computing that has potential to overcome difficulties involved in determining drugs to the target specific cancers and also, evaluating portfolio risk prominently pays to market growth. The demand for the optimization and the material simulation applications on the quantum computers is expected to upsurge rapidly in coming years. The demand to resolve complex problems with the simultaneous operations, and the simulate molecules and the materials to gain accurate output is serving these applications to find the opportunities in various end-user industries such as chemicals, automotive, healthcare, and energy and power. The wide R&D and the growth strategies adopted by companies and research labs operational in ecosystem are expected to foster growth of quantum computing market in coming years.
Segment Overview
Among end-user industries considered, the space and defence is largest contributor to overall quantum computing market, it is anticipated to account for maximum share of market in 2019. The need for protected communications and the data transfer, with demand in faster data processes, is anticipated to boost demand for the quantum computing consulting solutions in the industry. The market for automotive industry is anticipated to grow at highest CAGR from 2019 to 2026.
Regional Overview
Among the three major regions, quantum computing solution market in APAC is likely to grow at highest CAGR throughout the forecast period. APAC is leading hub for the several industries, such as banking, healthcare, automotive, and chemicals. The region is largest automobile producer in world. Countries such as Japan, China, and South Korea are among the leading manufacturers of the consumer electronics devices, comprising laptops, smartphones, and gaming consoles, in the region. There is need to solve numerous complications related to the application such as material simulation, optimization, and the machine learning across the industries. The large-scale expansion exhibited by emerging economies in the APAC with the use of various advanced technologies adopted in manufacturing sector is further contributing to development of the large and medium enterprises, this is also boosting the growth.
Key Players
Market Segmentation
By Application
Covid-19 Impact on Quantum Computing Market:
As the COVID-19 pandemic continuing its effect around the world, many defense and aerospace companies are facing its impact during this time around the world. For instance, commercial aviation companies in the U.S., France, Germany, and Canada are facing disruption in the production process and reduced demand as workforces staying at home, passengers stop traveling, and delay in delivery of new aircraft. Analysts expecting a drop from 3,000 to 4,000 aircraft during the pandemic period. On the defense side, contractors operating in the sector are in a better position, hence the impact of the pandemic is likely low in the short to mid-term. However, low demand due to budget constraints affecting the production as in aircraft manufacturing.
Market Overview
The need for the robust computing that has potential to overcome difficulties involved in determining drugs to the target specific cancers and also, evaluating portfolio risk prominently pays to market growth. The demand for the optimization and the material simulation applications on the quantum computers is expected to upsurge rapidly in coming years. The demand to resolve complex problems with the simultaneous operations, and the simulate molecules and the materials to gain accurate output is serving these applications to find the opportunities in various end-user industries such as chemicals, automotive, healthcare, and energy and power. The wide R&D and the growth strategies adopted by companies and research labs operational in ecosystem are expected to foster growth of quantum computing market in coming years.
Segment Overview
Among end-user industries considered, the space and defence is largest contributor to overall quantum computing market, it is anticipated to account for maximum share of market in 2019. The need for protected communications and the data transfer, with demand in faster data processes, is anticipated to boost demand for the quantum computing consulting solutions in the industry. The market for automotive industry is anticipated to grow at highest CAGR from 2019 to 2026.
Regional Overview
Among the three major regions, quantum computing solution market in APAC is likely to grow at highest CAGR throughout the forecast period. APAC is leading hub for the several industries, such as banking, healthcare, automotive, and chemicals. The region is largest automobile producer in world. Countries such as Japan, China, and South Korea are among the leading manufacturers of the consumer electronics devices, comprising laptops, smartphones, and gaming consoles, in the region. There is need to solve numerous complications related to the application such as material simulation, optimization, and the machine learning across the industries. The large-scale expansion exhibited by emerging economies in the APAC with the use of various advanced technologies adopted in manufacturing sector is further contributing to development of the large and medium enterprises, this is also boosting the growth.
Key Players
- D-Wave Systems Inc.
- QX Branch
- International Business Machines Corporation
- Cambridge Quantum Computing Limited
- 1QB Information Technologies
- QC Ware, Corp.
- StationQ - Microsoft
- Rigetti Computing
- Google Inc.
- River Lane Research
Market Segmentation
By Application
- Optimization
- Material Simulation
- Machine Learning
- Energy & Power
- Space and Defence
- Healthcare
- Banking and Finance
- Automotive
- Chemicals
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- Rest of LAMEA
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