Quantum Computing Market Size, Growth, Trends | Report 2023-2032
The global quantum computing market was surpassed at USD 10.16 billion in 2022 and is expected to hit around USD 234.92 billion by 2032, growing at a CAGR of 36.9% from 2023 to 2032.
Key Pointers
Report Scope of the Quantum Computing Market
| Report Coverage | Details |
| Market Size in 2022 | USD 10.16 billion |
| Revenue Forecast by 2032 | USD 234.92 billion |
| Growth rate from 2023 to 2032 | CAGR of 36.9% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Covered | IBM Corporation, D-Wave Systems Inc., Cambridge Quantum Computing Ltd., Intel Corporation, Rigetti & Co, Inc., Google LLC, Quantica Computacao, Zapata Computing, XANADU, Accenture Plc. |
Quantum computing is the use of quantum-mechanics-based computing systems and technologies that are centered around the principles of quantum theory, which explains the behavior of energy and nature along with all of the matter that comprises it going as far as the quantum state. Quantum computing uses various bits in combination to perform different types of computational tasks with each program running at an efficiency that is much higher than any other classical computers present in the modern day and age.
The development of quantum computers used for quantum computing has been a leap forward in computer technology and computing abilities with every industry having some benefits associated with the use of the advanced technology. The idea that runs quantum computing is the ability of its bits to stay in several states at a given time, just like the prepositions of quantum theory. It can work in multiple combinations of 1 and 0 while also functioning in a state where 1 and 0 exist simultaneously. Quantum computing was first introduced in 1981 but in the last decade, it has managed to gain a massive following amongst dedicated research groups.
The global quantum computing market is projected to grow owing to the increasing interest of world giants in developing superior-grade quantum computers which are currently in the development phase. The most recent quantum computers have certain drawbacks which the technology companies along with a partnership with research groups and developers are working to improve or resolve. Since the use of quantum computing is not restricted to only a certain industry or segment, the world economy can benefit from the technology on a scale that remains incomprehensible to many. Study centers like the Massachusetts Institute of Technology (MIT), Los Alamos National Laboratory, and Oxford have dedicated resources working toward development in the field of quantum computing.
The European Organization for Nuclear Research, known as CERN has access to around 20 quantum computers developed by one of the leading providers of modern-age systems International Business Machines (IBM). The global market is also witnessing a surge in investments from government agencies and sectors. For instance, India is expected to invest USD 1 billion by 2026 in quantum computing with the development of a 50 qubits quantum computer.
The main factor that could limit global market growth is the lack of infrastructure required to store a quantum computer. They cannot be stored like regular computers and require a special unit with certain features for the computers to remain stable. The most essential feature of the unit is its temperature which has to be extremely cold. For instance, the interiors of the quantum computer developed by D-Wave Systems are around -460 degrees Fahrenheit.
Quantum Computing Market Segmentations:
| By Application | By End Use | By Offering Type |
|
Machine Learning Optimization Biomedical Simulations Financial Services Electronic Material Discovery Other (Traffic Optimization, Weather Forecasting, and others.) |
Healthcare and Pharmaceuticals Chemicals Defence BFSI Energy and Power Others |
Consulting Solutions Systems |
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Application Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Quantum Computing Market
5.1. COVID-19 Landscape: Quantum Computing Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Quantum Computing Market, By Application
8.1. Quantum Computing Market, by Application, 2023-2032
8.1.1 Machine Learning
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Optimization
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Biomedical Simulations
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Financial Services
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Electronic Material Discovery
8.1.5.1. Market Revenue and Forecast (2020-2032)
8.1.6. Other (Traffic Optimization, Weather Forecasting, and others.)
8.1.6.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Quantum Computing Market, By End Use
9.1. Quantum Computing Market, by End Use, 2023-2032
9.1.1. Healthcare and Pharmaceuticals
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Chemicals
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Defence
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. BFSI
9.1.4.1. Market Revenue and Forecast (2020-2032)
9.1.5. Energy and Power
9.1.5.1. Market Revenue and Forecast (2020-2032)
9.1.6. Others
9.1.6.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Quantum Computing Market, By Offering Type
10.1. Quantum Computing Market, by Offering Type, 2023-2032
10.1.1. Consulting Solutions
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Systems
10.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Quantum Computing Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Application (2020-2032)
11.1.2. Market Revenue and Forecast, by End Use (2020-2032)
11.1.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Application (2020-2032)
11.1.4.2. Market Revenue and Forecast, by End Use (2020-2032)
11.1.4.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Application (2020-2032)
11.1.5.2. Market Revenue and Forecast, by End Use (2020-2032)
11.1.5.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Application (2020-2032)
11.2.2. Market Revenue and Forecast, by End Use (2020-2032)
11.2.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Application (2020-2032)
11.2.4.2. Market Revenue and Forecast, by End Use (2020-2032)
11.2.4.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Application (2020-2032)
11.2.5.2. Market Revenue and Forecast, by End Use (2020-2032)
11.2.5.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Application (2020-2032)
11.2.6.2. Market Revenue and Forecast, by End Use (2020-2032)
11.2.6.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Application (2020-2032)
11.2.7.2. Market Revenue and Forecast, by End Use (2020-2032)
11.2.7.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Application (2020-2032)
11.3.2. Market Revenue and Forecast, by End Use (2020-2032)
11.3.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Application (2020-2032)
11.3.4.2. Market Revenue and Forecast, by End Use (2020-2032)
11.3.4.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Application (2020-2032)
11.3.5.2. Market Revenue and Forecast, by End Use (2020-2032)
11.3.5.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Application (2020-2032)
11.3.6.2. Market Revenue and Forecast, by End Use (2020-2032)
11.3.6.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Application (2020-2032)
11.3.7.2. Market Revenue and Forecast, by End Use (2020-2032)
11.3.7.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Application (2020-2032)
11.4.2. Market Revenue and Forecast, by End Use (2020-2032)
11.4.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Application (2020-2032)
11.4.4.2. Market Revenue and Forecast, by End Use (2020-2032)
11.4.4.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Application (2020-2032)
11.4.5.2. Market Revenue and Forecast, by End Use (2020-2032)
11.4.5.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Application (2020-2032)
11.4.6.2. Market Revenue and Forecast, by End Use (2020-2032)
11.4.6.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Application (2020-2032)
11.4.7.2. Market Revenue and Forecast, by End Use (2020-2032)
11.4.7.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Application (2020-2032)
11.5.2. Market Revenue and Forecast, by End Use (2020-2032)
11.5.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Application (2020-2032)
11.5.4.2. Market Revenue and Forecast, by End Use (2020-2032)
11.5.4.3. Market Revenue and Forecast, by Offering Type (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Application (2020-2032)
11.5.5.2. Market Revenue and Forecast, by End Use (2020-2032)
11.5.5.3. Market Revenue and Forecast, by Offering Type (2020-2032)
Chapter 12. Company Profiles
12.1. IBM Corporation
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. D-Wave Systems Inc.
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Cambridge Quantum Computing Ltd.
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Intel Corporation
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Rigetti & Co, Inc.
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Google LLC
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Quantica Computacao
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Zapata Computing
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. XANADU
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Accenture Plc.
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers