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
A fast-developing technology called quantum computing uses the principles of quantum physics to address issues that are too complicated for conventional computers. The operations of quantum computing may make use of quantum mechanical phenomena, including superposition, entanglement, and interference.
New York, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Enterprise Quantum Computing Market Size, Share & Industry Trends Analysis Report By Deployment Mode, By Technology, By Application, By Component, By Vertical, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06412035/?utm_source=GNW
Quantum computers are gadgets that carry out quantum calculations. Larger realizations of quantum computers are thought to be capable of solving some computational problems, like integer factorization (which underlies RSA encryption), much more quickly than classical computers, even though current quantum computers are also too small to outperform regular (classical) computers for practical applications.
A branch of quantum information science is the study of quantum computing. It is based on the fundamental principles that control the subatomic realm, where basic particles may exist in several states and locations at once. A quantum computing model uses the technology to examine the behavior of matter and energy at the quantum level.
The logic gate of the quantum computer has two operating modes: XOR and QO1 (the ability to change 0 into a superposition of 0 and 1). Numerous elementary particles, such as electrons or photons, may be employed in a quantum computer. Every particle has a charge or polarization that serves as a representation of the numbers 0 and/or 1. A quantum bit, or qubit, is the name given to each particle. Quantum computing and quantum supremacy are both based on the characteristics and actions of these particles. The concepts of superposition and entanglement are the two components of quantum physics that are most important.
COVID-19 Impact Analysis
In recent years, the market for corporate quantum computing has expanded. This is because modern agricultural techniques are increasingly being used all over the world, which fueled market expansion throughout the pandemic. However, the market saw a modest fall in software sales in the first months of 2020 and 2021 as a result of the COVID-19 pandemic. This was ascribed to the majority of nations putting their citizens on lockdown and closing down cities to stop the spread of the virus.
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.
Market Restraining Factors
Problems with stability and mistake correction
Quantum computers now employ physical qubits, which are prone to mistakes. It is challenging to commercialize quantum computers. Due to their fragility and ease of disruption by changes in the temperature, noise, and frequency of their surroundings, qubits cannot yet be kept in their quantum mechanical state for an extended amount of time. Additionally, a number of blockchain-based solutions use the ECDSA, a digital signature method that is not yet quantum-safe.
Deployment Mode Outlook
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 cloud 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.
Based on geography, the enterprise quantum computing market is classified into North America, Europe, Asia Pacific, and LAMEA. In terms of revenue share, the enterprise quantum computing market in 2021 was dominated by the North American region. The primary driver of the segment’s growth is the rapid adoption of technology in the area. The United States is expected to continue to be one of the most valued markets. The United States has a high adoption rate for quantum computing technology as a result of the presence of many users and important companies headquartered here.
The major strategies followed by the market participants are Product launches. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation and Google LLC are the forerunners in the Enterprise Quantum Computing Market. Companies such as IBM Corporation, Alibaba Group Holding Limited, and Huawei Technologies Co., Ltd. are some of the key innovators in Enterprise Quantum Computing Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Alibaba Group Holding Limited, D-Wave Systems Inc., Google Llc, Huawei Technologies Co. Ltd., Id Quantique, Intel Corporation, IBM Corporation, Microsoft Corporation, Rigetti & Co, Inc., and Toshiba Corporation
Recent Strategies Deployed in Enterprise Quantum Computing Market
Product Launches and Expansions:
Nov-2022: IBM released the latest 433 qubits, advanced quantum hardware, and software. This product addresses the biggest problems at the current time, aligning with its clients and partners globally.
Sep-2022: Rigetti Computing, Inc. released Rigetti QCS™, in Public Preview on Microsoft’s Azure Quantum platform. This product has access to the company’s processor via Microsoft’s public cloud, the company allows end users to enhance their quantum computing proceed to solve their various problems.
Jun-2022: Rigetti Computing, Inc. unveiled a 32-qubit Aspen-series quantum computer, the first UK-based quantum computer. Through this launch, the company aims to boost the commercialization of quantum computing across the United Kingdom.
Dec-2021: D-Wave Systems Inc. released the Quantum QuickStart™, the latest quantum acceleration bundle, consisting of quantum programming training plus cloud access. This product is created to quickly train and allow developers to simply use quantum hybrid resources and quantum computing to create quantum applications. Moreover, this launch offers developers a complete training experience and a month of live, unlimited quantum cloud access.
Dec-2021: Rigetti launched the next-generation “Aspen-M” 80-qubit quantum computer into private beta, the first commercial multi-chip quantum processor. With this launch company’s UK partners and the end user would be near to unlocking the capacity of quantum computing to meet their most pressing problems and develop UK’s large quantum ecosystem.
May-2021: ID Quantique (IDQ) launched the Cerberus XG, the 4th generation of Quantum Key Distribution. This product launch is aimed to deliver a large level of trust to enterprises and governments for future-proof data protection in smaller and optimized form factor, once and for all.
Partnerships, Collaborations and Agreements:
Jul-2022: D-Wave Systems Inc. collaborated with Mastercard, the second-largest payment-processing corporation. With this collaboration, companies to enhance the boost and adoption of quantum computing solutions. The collaboration would utilize D-Wave’s quantum hybrid solvers and annealing quantum computers through the Leap quantum cloud service to offer live access to quantum applications safely and securely powered by Mastercard’s network.
Jul-2022: ID Quantique partnered with CryptoNext Security SAS, a company involved in Post-Quantum Cryptography. Through this partnership, the company provides an efficient and continuing Quantum-Safe Communication Solution for mobile phone users.
May-2022: IBM announced a collaboration with Amazon Web Services, Inc., a subsidiary of Amazon that provides on-demand cloud computing platforms. Through this collaboration, the company would deliver a wide range of its software portfolio as Software-as-a-Service (SaaS) on AWS. Additionally, with this collaboration the company is offering enterprises the capacity to select the hybrid cloud model which operates for its requirements and workloads, freeing them up to instead focus on solving their most pressing business challenges.
Feb-2022: Rigetti collaborates with Nasdaq, an American stock exchange. With this agreement, the company would pursue the growth of quantum applications to enable solving high-impact computational issues in the financial enterprise.
Jan-2022: Microsoft collaborated with Rigetti Computing, an integrated systems company, and KPMG, a global network of professional firms. Under this collaboration, the companies broaden the abilities of its Azure Quantum cloud services for enterprises seeking quantum computing solutions.
Jun-2020: ID Quantique (IDQ) collaborated with SK Telecom, a South Korean wireless telecommunications operator. Under this partnership, SK telecom would focus on quantum technologies through Quantum Key Distribution and Quantum Random Number Generation, to future-proof their network security and deliver advanced solutions to their customers.
Feb-2020: ID Quantique come into a partnership with Fortinet, a global leader in wide and automated cybersecurity solutions. Through this partnership, the company would offer a committed commercial grade combined with the new generation of Quantum Key Distribution (QKD) system.
Acquisitions and Mergers:
Jul-2021: IBM acquired Bluetab Solutions Group, S.L. an enterprise software and technical services company. Under this acquisition, the company would broaden its suite of data and hybrid cloud consulting services. Additionally, Bluetab would become an important part of IBM’s data services consulting practice to further develop its AI and hybrid cloud strategy.
Apr-2021: IBM acquires Turbonomic, an Application Resource Management (ARM) and Network Performance Management (NPM) software, provider. Through this acquisition, the company would offer the enterprise full-stack application observability and management to make sure performance and decrease costs by utilizing AI to use resources consisting of servers, networks, databases, and containers.
Scope of the Study
Market Segments covered in the Report:
By Deployment Mode
• Quantum Annealing
• Trapped ion
• Quantum dot
• Cyber security
• Machine Learning/Deep Learning/AI
• Simulation & Data Modelling
• Telecom & IT
• Aerospace & Defense
• Energy & Utilities
• Healthcare & Life Sciences
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Alibaba Group Holding Limited
• D-Wave Systems Inc.
• Google Llc
• Huawei Technologies Co. Ltd.
• Id Quantique
• Intel Corporation
• IBM Corporation
• Microsoft Corporation
• Rigetti & Co, Inc.
• Toshiba Corporation
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