Quantum Computing Market to Grow Exponentially; Increasing – GlobeNewswire

Pune, India, March 04, 2022 (GLOBE NEWSWIRE) -- The global Quantum Computing Market size was USD 392.5 million in 2020. The market is expected to grow from USD 486.1 million in 2021 to USD 3,180.9 million in 2028, exhibiting a CAGR of 30.8% during the forecast period. Increasing product applications and incorporating artificial intelligence (AI) and machine learning (ML). Fortune Business Insights presents this information in its report titled Quantum Computing Market, 2021-2028.

Request to Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/quantum-computing-market-104855

Quantum computing is an advanced computer technology based on quantum theory and quantum mechanics. It deploys 0 and 1 bits but utilizes every state between 0 and 1, thereby providing excellent speeds. Its increasing applications in algorithms, cryptography, quantum parallelism, quantum simulation, and machine learning are expected to boost its sales. Furthermore, incorporating AI and ML technologies is expected to boost demand. These factors may propel the market growth during the upcoming years.

COVID-19 Impact

Rising Dependence Upon Digital Computing Solutions to Fuel Market Development

This market is expected to be positively impacted during the COVID-19 pandemic because of the rising dependence upon digital computing solutions. The alarming spike in COVID patients and the emergence of new virus variants may lead to the adoption of work-from-home and digitization. Rapid digitization and the adoption of advanced software may boost the adoption of the product. Furthermore, the rising adoption of e-commerce is expected to support industrial progress during the pandemic.

Players Profiled in the Quantum Computing Market Report

Click here to get the short-term and long-term impact of COVID-19 on this market.

Please visit: https://www.fortunebusinessinsights.com/quantum-computing-market-104855

Segmentation

By component, the market is segmented into services, software, and hardware. By deployment, it is bifurcated into cloud-based and on-premise. Based on application, it is classified into electronic material discovery, financial services, biomedical simulations, optimization, machine learning, and others. As per end-users, it is categorized into manufacturing, chemical, energy and utilities, researchers, automotive, banking, financial services, and insurance (BFSI), healthcare, and others. Regionally, it is grouped into North America, South America, Europe, Middle East & Africa, and Asia Pacific.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints

Rising Government Investments and Strategic Alliances to Drive Industry Growth

Governments make extensive investments in quantum computing technologies to boost its adoption. For example, the German Federal Ministry of Education and Research provided USD 50.3 million to fund the Ion Trap Computer development in December 2021. This factor may boost the adoption of the computing solution. Furthermore, increasing strategic alliances may fuel the development of better-quality computing solutions. Moreover, rapid digitization and reliance on the Internet of Things (IoT) may boost its sales. These factors may drive the quantum computing market growth.

Ask for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/quantum-computing-market-104855

Regional Insights

Early Adoption of Advanced Technologies to Fuel Market Growth in North America

North America is projected to dominate the quantum computing market share because of the early adoption of advanced technologies. The market in North America stood at USD 171.4 million in 2020 and is expected to gain a huge portion of the global market share. Further, the presence of a competitive market and adoption of latest technologies by end-users may augment market growth.

In Europe, the emergence of several startups, regulatory environments, and the rising adoption of cloud technologies is expected to boost sales. Furthermore, the expansion of businesses by key players is expected to boost market development.

In Asia Pacific, the rising demand for quantum computing solutions for machine learning, optimization, and simulation is expected to foster market development. Also, extensive adoption of novel technologies from the industrial sector is expected to surge industry development.

Competitive Landscape

Companies Launch Novel Products to Boost Brand Image

Prominent companies operating in the market launch novel products to boost their brand image. For example, Zurich Instruments announced its novel Superconducting Qubit Controller in November 2021. It integrates the qubit control and readouts to achieve 6 qubits in a device. SHFSG Signal Generator produces microwave pulses, and SHFQA Quantum Analyzer is fused together in a single box. It may enable companies to entice consumers and boost their brand image globally. Furthermore, adopting partnerships, mergers, research and development, expansions, and acquisition strategies may enable companies to achieve a remarkable market position.

Quick Buy Quantum Computing Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/104855

Industry Development

Table of Content

TOC Continued..

Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/quantum-computing-market-104855

Have a Look at Related Research Insights:

Smart Cities Market Size, Share And Global Trend By Functional Area (Smart Education, Smart Energy, Smart Infrastructure, Smart Healthcare, Smart Building, Others), And Geography Forecast Till 2022-2029

Risk Analytics Market Size, Share and Covid-19 Impact Analysis, By Component (Software, Services), By Risk Type Application (Financial Risk, Operational Risk, Compliance Risk, Strategic Risks), By Deployment (Cloud, On-Premise), By Enterprise Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises) By Industry (Banking, Financial Services and Insurance (BFSI), IT and Telecommunications, Healthcare) and Regional Forecast, 2020-2027

Night Vision Devices Market Size, Share & COVID-19 Impact Analysis, By Device Type (Binoculars and Monocular, Cameras, Glasses, Goggles, and Scopes), By Application (Border surveillance, Engineering, Fire and Rescue, Law Enforcement, Maritime & Coastal surveillance, Medical, Security, and Others (Natural Resource Agency Applications, etc.), and Regional Forecast, 2020-2027

Out of Home Advertising Market Size, Share and Global Trend By Product (DigitaL, Billboards, Transit, Street Furniture), By Industry Vertical (Telecom, Transport, BFSI, and others) and Geography Forecast till 2022-2029

Intelligent Network Market Size, Share and Global Trend By Application (Information Cognition, Traffic Prediction and Classification, Resource Management, Network Adoption, Performance Prediction, Configuration Extrapolation), By End-User (Telecom Service Providers, Cloud Service Providers, Managed Network Service Providers, Others), and Geography Forecast till 2022-2029

About Us:

Fortune Business Insights delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Fortune Business Insights Pvt. Ltd. 9th Floor,

Icon Tower, Baner - Mahalunge Road,

Baner, Pune-411045, Maharashtra, India.

Phone:

US:+1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com

LinkedIn: https://www.linkedin.com/company/fortune-business-insights

Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd

Twitter: https://twitter.com/FBInsightPvtLtd

Read the rest here:
Quantum Computing Market to Grow Exponentially; Increasing - GlobeNewswire