Global Enterprise Quantum Computing Market Report 2022: Sector to Reach $6.4 Billion by 2028 at a 24.4% CAGR
DUBLIN, Jan. 25, 2023 /PRNewswire/ -- The "Global Enterprise Quantum Computing Market Size, Share & Industry Trends Analysis Report By Deployment Mode, By Technology, By Application, By Component (Hardware, Software and Services), By Vertical, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Enterprise Quantum Computing Market size is expected to reach $6.4 billion by 2028, rising at a market growth of 24.4% CAGR during the forecast period.
Market Growth Factors
Investment in Quantum Technologies is on the Rise
In order to use quantum computers to perform various optimization and simulation tactics, several government agencies involved in the global space and military industries are spending more and more on the development of quantum computing technology. Governments from many different nations are funding their research institutions with substantial sums of money in order to further the development of quantum computing. Nations are making large investments in the study and development of quantum computing technologies.
Increasing Use as Artificial Intelligence Advances
In order to enhance their strategic, insight-driven, and operational capabilities, businesses use AI-powered solutions. Artificial intelligence (AI) may increase productivity and allow automated data processing by automating complex and repetitive activities. IT teams may utilize AI to handle and monitor important tasks. The businesses offering cloud solutions and services are consistently focusing on R&D operations, product improvements, and cutting-edge product launches thanks to the integration of Big Data, AI, and ML.
Based on the deployment mode, the enterprise quantum computing market is classified into on-premise and cloud. In 2021, the cloud segment garnered the substantial revenue share in the market. As more durable systems are created, there will certainly be a rise in demand for cloud-based computing solutions and services. Along with increasingly comprehensive solutions from the leading industry players, the clud is also offering a number of other ways to build quantum computers. The flexibility of access offered to consumers is another aspect that contributes to the popularity of cloud-based services and systems.
Based on technology, the enterprise quantum computing is segmented into quantum annealing, superconducting, trapped ions, quantum dots, and others. The superconducting segment had the most revenue share in 2021. This market is growing because superconducting qubit-based quantum computers operate more quickly than equivalent machines using other technologies. In the next years, it is anticipated that IT giants like IBM, Google, and Intel would introduce their superconducting qubit-based quantum computing services.
Based on application, the enterprise quantum computing market is classified into machine learning/deep learning/AI, optimization, simulation & data modeling, cyber security, and others. In 2021, the market for corporate quantum computing experienced a significant increase in the revenue share of the machine learning/deep learning/AI sector. Users may learn about the estimate of quantum system characteristics, quantum error-correcting codes, and the creation of unique quantum algorithms thanks to machine learning, artificial intelligence, and deep learning. Quantum algorithms are included in machine learning software as part of quantum machine learning.
Based on component, the enterprise quantum computing market is classified into hardware, software, and services. In terms of revenue, the hardware segment had the largest revenue share in 2021. As hardware represents a substantial bottleneck in the ecosystem, growth in this sector is expected. There are several hardware platforms developed for quantum computing. All commercially viable quantum computers are based on superconducting circuits and trapped ions, which are majorly sophisticated. Spin qubits, neutral atoms, and photonic networks are other intriguing platforms.
Based on vertical, the enterprise quantum computing market is classified into manufacturing, BFSI, energy & utilities, aerospace & defense, healthcare & life sciences, IT and telecom, and others. The enterprise quantum computing market had a significant revenue share in 2021 in the telecom and IT categories. Many firms are now making significant efforts to transition to IT infrastructures that are quantum-safe. The term "cryptoagility" is often used to describe a system architecture that is adaptable enough to quickly accept new cryptographic techniques with no negative influence on the system"s functioning.
Key Market Players
List of Companies Profiled in the Report:
Key Topics Covered:
Chapter 1. Market Scope & Methodology
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