The global quantum computing market was valued at USD 81.6 million in 2018 and is expected to reach USD 381.6 million in 2026, growing at a CAGR of 21.26% from 2019 to 2026.
Quantum computing is basically a computation method that uses quantum-mechanical phenomena such as superposition and entanglement. Quantum Computing is performed by using two approaches in analog and digital. By using these approaches a quantum computer can be physically implemented by using quantum bits or qubits. Quantum computing is offered in two ways: Systems and Consulting Solutions.
Quantum Computing Market Segmentation |
|
| By Offering | 1. Consulting Solutions |
| 2. Systems | |
| By Function | 1. Optimization |
| 2. Machine Learning | |
| 3. Material Simulation | |
| By End-use Industry | 1. Aerospace and Defense |
| 2. Automotive | |
| 3. Healthcare | |
| 4. Others | |
| By Region | 1. North America (US and Canada) |
| 2. Europe (UK, Germany, France and Rest of Europe) | |
| 3. Asia Pacific (China, Japan, India and Rest of Asia Pacific) | |
| 4. Latin America (Brazil, Mexico, and Rest of Latin America) | |
| 5. Middle East & Africa (GCC and Rest of Middle East & Africa) | |
The growth of the quantum computing market is primarily driven by the rapid advancement in technological development and utilization of advanced electronic systems in computing. Moreover, the growing emphasis on reducing cybercrime is fuelling the need for employing quantum computing. Recent years have witnessed a spur of investments in this field which has resulted in the growth of this market. However, the lack of skilled professionals is one of the restraining factors which may hamper the growth of the global quantum computing market.
The quantum computing system offering is poised to dominate the market throughout the forecast period
Based on offering, the quantum computing market has been segmented into consulting solutions and systems. The systems segment accounted for approximately 57% of the share in the global quantum computing market in 2018.
While consulting solutions offering segment accounted highest CAGR of around 27.46% in the global quantum computing market during the forecast period owing to the capability of providing customized solutions. This advantage is anticipated to propel the demand and sales for consulting solutions across the developed and developing countries in the global market in the near future.
Based on function, the machine learning segment is expected to grow at a CAGR of around 28% during the forecast period
Based on function, the market has been segmented into optimization, machine learning, and material simulation. The optimization function segment accounts for the largest share in the market and expected to grow at a CAGR of around 22.56% during the forecast period.
While the machine learning function segment expected to hold the CAGR of approximately 28% during the forecast period. The increase in research & development activities to incorporate better machine connectivity in various industries is anticipated to increase the market share in terms of value. However, the requirement of high capital investment is anticipated to hamper the growth of this segment.
Based on end-use industry, the aerospace & defense segment is expected to dominate during 2019 to 2026
Based on the end-use industry, the market has been segmented into Aerospace and Defense, Automotive, Healthcare, and others. The aerospace & defense segment accounts of the largest share in the market and held for more than 32% of the total market in 2018. The major factors that are driving the growth of this segment are the growing number of new players and start-ups which offer cost-efficient solutions.
Key players are investing a substantial amount of resources in order to develop modern computing solutions to cater to customized requirements.
Regionally, Europe to dominate the Quantum Computing market throughout the forecast period
Europe region accounted for nearly 27.67% share of the global quantum computing market in 2018 and is expected to dominate the market throughout the forecast period. The rapid growth in the industrialization and liberalization of foreign direct investment in the aerospace and defense sector is the major driving factor for the region in the global market.
Asia Pacific region is expected to hold the highest CAGR in the global market during the forecast period. Manufacturers are investing in the Asia Pacific region countries to meet the growing demand for end-use industries.
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Chapter 1 Executive Summary
1.1 Market Summary
1.1.1 Global Quantum Computing Market, 2016-2026, (USD Million)
1.1 Market Snapshot: Global Quantum Computing Market
1.2 Market Dynamics
1.3 Global Quantum Computing Market, by Segment, 2018
1.3.1 Global Quantum Computing Market, by Offering, 2018, (USD Million)
1.3.2 Global Quantum Computing Market, by Function, 2018, (USD Million)
1.3.3 Global Quantum Computing Market, by End-Use Industry, 2018, (USD Million)
1.3.4 Global Quantum Computing Market, by Region, 2018 (USD Million)
1.4 Premium Insights
1.4.1 Quantum Computing Market In Developed Vs. Developing Economies, 2018 vs 2023
1.4.2 Global Quantum Computing Market: Regional Life Cycle Analysis
Chapter 2 Market Dynamics
2.1 Market Overview
2.2 Market Drivers
2.2.1 Emphasis on Reducing Cybercrime
2.2.2 Demand from Aerospace & Defense Sector
2.3 Market Restraints
2.3.1 Availability of Substitute Technologies
2.3.2 Lack of Skilled Professionals
2.4 Market Opportunities
2.4.1 Application of Quantum Computing in Mobile Transaction Field
2.4.2 Healthcare Industry Employing Quantum Computing in Drug Discovery
2.5 Industry Value Chain Analysis
2.6 Pricing Analysis
2.7 Porter’s Five Forces Analysis
Chapter 3 Global Quantum Computing Market, by Offering
3.1 Market Overview, by Offering
3.1.1 Global Quantum Computing Market, by Offering, 2016-2026 (USD Million)
3.1.2 Incremental Opportunity, by Offering, 2018
3.2 Consulting Solutions
3.2.1 Global Quantum Computing Market, by Consulting Solutions, 2016-2026, (USD Million)
3.3 Systems
3.3.1 Global Quantum Computing Market, by Systems, 2016-2026, (USD Million)
Chapter 4 Global Quantum Computing Market, by Function
4.1 Market Overview, by Function
4.1.1 Global Quantum Computing Market, by Function, 2016-2026 (USD Million)
4.1.2 Incremental Opportunity, by Function, 2018
4.2 Optimization
4.2.1 Global Quantum Computing Market, by Optimization, 2016-2026, (USD Million)
4.3 Machine Learning
4.3.1 Global Quantum Computing Market, by Machine Learning, 2016-2026, (USD Million)
4.4 Material Simulation
4.4.1 Global Quantum Computing Market, by Material Simulation, 2016-2026, (USD Million)
Chapter 5 Global Quantum Computing Market, by End-Use Industry
5.1 Market Overview, by End-Use Industry
5.1.1 Global Quantum Computing Market, by End-Use Industry, 2016-2026 (USD Million)
5.1.2 Incremental Opportunity, by End-Use Industry, 2018
5.2 Aerospace and Defense
5.2.1 Global Quantum Computing Market, by Aerospace and Defense, 2016-2026, (USD Million)
5.3 Automotive
5.3.1 Global Quantum Computing Market, by Automotive, 2016-2026, (USD Million)
5.4 Healthcare
5.4.1 Global Quantum Computing Market, by Healthcare, 2016-2026, (USD Million)
5.5 Others
5.5.1 Global Quantum Computing Market, by Others, 2016-2026, (USD Million)
Chapter 6 Global Quantum Computing Market, by Region
6.1 Market Overview, by Region
6.1.1 Global Quantum Computing Market, by Region, 2016-2026, (USD Million)
6.2 Attractive Investment Opportunity, by Region, 2018
6.3 North America Quantum Computing Market
6.3.1 North America Quantum Computing Market, by Country, 2016-2026 (USD Million)
6.3.2 United States Quantum Computing Market, 2016-2026 (USD Million)
6.3.3 Canada Quantum Computing Market, 2016-2026 (USD Million)
6.4 Europe Quantum Computing Market
6.4.1 Europe Quantum Computing Market, by Country, 2016-2026 (USD Million)
6.4.2 United Kingdom Quantum Computing Market, 2016-2026 (USD Million)
6.4.3 Germany Quantum Computing Market, 2016-2026 (USD Million)
6.4.4 France Quantum Computing Market, 2016-2026 (USD Million)
6.4.5 Rest of Europe Quantum Computing Market, 2016-2026 (USD Million)
6.5 Asia Pacific Quantum Computing Market
6.5.1 Asia Pacific Quantum Computing Market, by Country, 2016-2026 (USD Million)
6.5.2 China Quantum Computing Market, 2016-2026 (USD Million)
6.5.3 Japan Quantum Computing Market, 2016-2026 (USD Million)
6.5.4 India Quantum Computing Market, 2016-2026 (USD Million)
6.5.5 Rest of Asia Pacific Quantum Computing Market, 2016-2026 (USD Million)
6.6 Latin America Quantum Computing Market
6.6.1 Latin America Quantum Computing Market, by Country, 2016-2026 (USD Million)
6.6.2 Brazil Quantum Computing Market, 2016-2026 (USD Million)
6.6.3 Mexico Quantum Computing Market, 2016-2026 (USD Million)
6.6.4 Rest of Latin America Quantum Computing Market, 2016-2026 (USD Million)
6.7 Middle East & Africa Quantum Computing Market
6.7.1 Middle East & Africa Quantum Computing Market, by Country, 2016-2026 (USD Million)
6.7.2 GCC Quantum Computing Market, 2016-2026 (USD Million)
6.7.3 Rest of Middle East & Africa Quantum Computing Market, 2016-2026 (USD Million)
Chapter 7 Competitive Intelligence
7.1 Top 5 Players Comparison
7.2 Market Positioning of Key Players, 2018
7.3 Market Players Mapping
7.3.1 By Offering
7.3.2 By Function
7.3.3 By End-Use Industry
7.3.4 By Region
7.4 Strategies Adopted by Key Market Players
7.5 Recent Developments in the Market
7.5.1 Mergers & Acquisitions, Partnership, New Product Developments
Chapter 8 Company Profiles
8.1 D-Wave Systems Inc.
8.1.1 D-Wave Systems Inc. Overview
8.1.2 D-Wave Systems Inc. Products Portfolio
8.1.3 D-Wave Systems Inc. Financial Overview
8.1.4 D-Wave Systems Inc. News/Recent Developments
8.2 QX Branch (US)
8.2.1 QX Branch (US) Overview
8.2.2 QX Branch (US) Products Portfolio
8.2.3 QX Branch (US) Financial Overview
8.2.4 QX Branch (US) News/Recent Developments
8.3 International Business Machines Corporation
8.3.1 International Business Machines Corporation Overview
8.3.2 International Business Machines Corporation Products Portfolio
8.3.3 International Business Machines Corporation Financial Overview
8.3.4 International Business Machines Corporation News/Recent Developments
8.4 Cambridge Quantum Computing Limited
8.4.1 Cambridge Quantum Computing Limited Overview
8.4.2 Cambridge Quantum Computing Limited Products Portfolio
8.4.3 Cambridge Quantum Computing Limited Financial Overview
8.4.4 Cambridge Quantum Computing Limited News/Recent Developments
8.5 1QB Information Technologies
8.5.1 1QB Information Technologies Overview
8.5.2 1QB Information Technologies Products Portfolio
8.5.3 1QB Information Technologies Financial Overview
8.5.4 1QB Information Technologies News/Recent Developments
8.6 QC Ware, Corp.
8.6.1 QC Ware, Corp. Overview
8.6.2 QC Ware, Corp. Products Portfolio
8.6.3 QC Ware, Corp. Financial Overview
8.6.4 QC Ware, Corp. News/Recent Developments
8.7 StationQ- Microsoft
8.7.1 StationQ- Microsoft Overview
8.7.2 StationQ- Microsoft Products Portfolio
8.7.3 StationQ- Microsoft Financial Overview
8.7.4 StationQ- Microsoft News/Recent Developments
8.8 Rigetti Computing
8.8.1 Rigetti Computing Overview
8.8.2 Rigetti Computing Products Portfolio
8.8.3 Rigetti Computing Financial Overview
8.8.4 Rigetti Computing News/Recent Developments
8.9 Google Inc.
8.9.1 Google Inc. Overview
8.9.2 Google Inc. Products Portfolio
8.9.3 Google Inc. Financial Overview
8.9.4 Google Inc. News/Recent Developments
8.10 River Lane Research
8.10.1 River Lane Research Overview
8.10.2 River Lane Research Products Portfolio
8.10.3 River Lane Research Financial Overview
8.10.4 River Lane Research News/Recent Developments
Chapter 9 Preface
9.1 Data Triangulation
9.2 Research Methodology
9.2.1 Phase I – Secondary Research
9.2.2 Phase II – Primary Research
9.2.3 Phase III – Expert Panel Review
9.2.4 Approach Adopted
9.2.4.1 Top-Down Approach
9.2.4.2 Bottom-Up Approach
9.2.5 Supply- Demand side
9.2.6 Breakup of the Primary Profiles
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