Market Industry Reports (MIR) has published a new report titled “Quantum Computing Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global quantum computing marketing estimated to account for ~ US$ 3.98 billion in 2019. It is anticipated to grow at a CAGRof ~25% from 2019 to 2030.
The global quantum computing market is driven primarily by factors such as benefits of quantum cyber-security as compared to traditional cyber-security solutions, rising investmentsing quantum computing technology by various government agencies,increasing strategic partnerships & acquisitions, and patent registrations.
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Some of the prominent players in the Quantum Computing Market include:
IBM, Intel Corporation, Google, Microsoft Corporation, D-Wave Systems Inc., IonQ, Inc., 1QB Information Technologies Inc., Xanadu, ID Quantique, Rigetti& Co
Quantum computing operates using qubits or quantum bits for faster computing & solving mathematical problems with complex calculations, whereas traditional systems only use two bits 0s & 1s to solve problems. Increasing threats of cyber-attacks across different industry verticals, has triggered the need for quantum technology to deal with these threats more effectively. Moreover, quantum computing is dependent on complex algorithms such as Shor’s algorithm, which in turn makes it difficult for cyber attackers to target any system. For instance, in 2017, Temporal Defense Systems Inc., a cybersecurity firm introduced the D-Wave 2000Q quantum machine for solving complex cybersecurity issuesaffecting government and commercial enterprises. Therefore, superposition & entanglement effects of quantum computing assistsin solving complex problems quickly and are much more efficientthan traditional computing for issues related to cybersecurity.
Countries across the globe have been extensively investing in quantum computing for adapting to cyber threats from various sources. For instance, Canada invested over US$ 1 billion in the past decade, whereas, the German government announced to invest over US$ 700million in IBM’s quantum computing research for industry and application-oriented quantum computational strategies. Similarly, strategic partnerships & acquisitions have also played a crucial role in fueling the growth of the market. For instance, tech giant IBM,announced partnerships with companies such as Delta Airlines to use the quantum computing technology for transforming experiences of customers and employees and simultaneously address several challenges associated with day to daytravel. Similarly, Intel announced collaboration with Netherlands based quantum computing organization, QuTech, for development of viable quantum computing systems.
The Quantum Computing Market is segmented on the basis of Product, Modality, Cancer Type, End-Users and region.
By Component (Hardware, Software, and Services), Deployment Mode (On-Premises and Cloud), Application (Optimization, Simulation, and Sampling), End-Use Industry (Banking, Financial Services, and Insurance (BFSI)), Healthcare & Pharmaceuticals, Defense, Automotive, Chemical, Utilities, and Others)
As a standard protocol at MIR, all research assignments go through the following rigorous processes.
- Secondary Research
- Primary Research
- Market Size Estimation & Forecasting
- Data Validation & Triangulation
- Report Generation
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Table of Contents
- Market Definition
- Market Classification
- Geographic Scope
- Years Considered for the Study: Historical Years – 2017 & 2018; Base Year – 2019; Forecasted Years – 2020 to 2030
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Data Validation and Triangulation
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESSMENT
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