Quantum Computing Market

Quantum Computing Market Size, Share, Statistics and Industry Growth Analysis Report by Offering, Deployment (on-Premises and Cloud), Application (Optimization, Simulation, Machine Learning), Technology (Trapped Ions, Quantum Annealing, Superconducting Qubits), End User and Region- Global Growth Driver and Industry Forecast to 2028

Report Code: SE 5490 Mar, 2023, by marketsandmarkets.com

Updated on : March 19, 2024

The global quantum computing market size in terms of revenue was estimated to be USD 866 Million in 2023 and is poised to reach USD 4,375 Million by 2028, growing at a CAGR of 38.3% from 2023 to 2028. The new research study consists of an industry trend analysis of the market.

Factors such as the rising adoption of quantum computing technology in various industries and sectors, and increasing investments in quantum computing technology are driving the growth of the quantum computing industry during the forecast period.

Quantum Computing Market

Quantum Computing Market Statistics and Forecast to 2028

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Quantum Computing Market Dynamics

Driver : Rising adoption of quantum computing technology in various industries and sectors

Quantum computing is gaining traction in the banking and finance services industry, which is focusing on increasing the speed of trade activities, transactions, and data processing manifolds. One of the significant potential applications of quantum computing is simulation. Quantum computing growth helps identify an improved and efficient way to manage financial risks. The processing time and the costs of high-quality solutions can increase exponentially if classical computers are used in financial institutions. In contrast, quantum computers can carry out speedy operations at optimized costs, resulting in cost savings and new opportunities for revenue generation.

The potential benefits of quantum computing share for financial services include providing relevant and required cybersecurity solutions to safeguard consumers’ financial data using next-generation cryptography. Moreover, detecting fraudulent activities by recognizing consumers’ behavior patterns is fast using quantum computing technology that leads to proactive fraud risk management. Additionally, the optimization of portfolio management of assets with interdependencies and predictive analytics in customer behavior can be achieved by combining quantum computing with artificial intelligence (AI). A combination of quantum computing and blockchain technology is expected to lead to the development of the most hack-proof technology in this era of IoT. This combination is also expected to significantly increase the transaction speed and reduce processing costs in the banking and finance industry, thereby reducing infrastructural downtime.

In April 2022, HSBC (UK) and IBM (US) formed a three-year partnership to look into the potential of quantum computing share in the banking industry. HSBC will examine how quantum computing might be used to discover and stop fraud, optimize pricing and portfolios, and progress its net zero goals. In March 2022, CaixaBank (Spain) and D-Wave Quantum Inc. (Canada) announced the commercial results for two significant financial quantum hybrid computing applications for investment portfolio optimization and investment hedging calculation. VidaCaixa, the life insurance and pensions company of CaixaBank, created a quantum computing application for investment portfolio allocation, selection, and hedging by utilizing D-Leap Wave’s quantum cloud service and quantum hybrid solvers, which combine the strengths of classical and quantum computing. Quantum computing has helped CaixaBank, among other business benefits, cut the time to solution for investment portfolio hedging and portfolio optimization by up to 90%.

Quantum computing can significantly enhance the capabilities of space and defense systems. Quantum computing can be used in space to simulate and improve the movements of complicated systems like satellite constellations and interplanetary spacecraft. Quantum computing can be applied to the military industry for complex system simulation, secure communication, and cryptography. Numerous nations and organizations, including NASA and the Department of Defense, have invested in research and development in this field, demonstrating an interest in the potential applications of quantum computing in the military and space programs. For instance, NASA’s Quantum Artificial Intelligence Laboratory (QuAIL) is a collaboration between NASA, Google, and the Universities Space Research Association (USRA) to develop quantum algorithms and software for space missions and scientific research.

Restraint: Stability and error correction issues

Presently, quantum computers use physical qubits, which are error prone. It is estimated that 1,000 physical qubits are required to make a single logical qubit error-free, a goal yet to be realized. Till 2020, devices with up to 5,000 physical qubits have been developed. However, a commercially useful quantum computer is expected to be a 200-logical qubit machine with 200,000 physical qubits. Commercializing quantum computers is a complex task. To date, it is impossible to maintain the quantum mechanical state of qubits for a long time as they are delicate and can be easily disrupted by changes in environmental temperature, noise, and frequency. Moreover, several blockchain-based technologies rely on the elliptic curve digital signature algorithm (ECDSA), which is currently not quantum-safe.

Opportunity : Growing adoption of quantum computing technology in drug discovery

The research and development activities related to biopharmaceuticals, from drug discovery to production, are expensive, lengthy, and risky. A new drug typically takes 10–15 years to progress from its discovery stage to its launching, and the capitalized costs related to it exceed USD 2.0 billion. The success rate of the development of new drugs is less than 10% from their entry into the clinical development stage to their launch. As such, biopharmaceutical companies count on a few blockbuster drugs to realize the payback of more than USD 180.0 billion that the industry spends each year on research and development activities related to new drugs.

Quantum computers provide powerful tools for studying complex systems such as human physiology and the impact of drugs on biological systems and living organisms. These computers are expected to be used in a number of applications in pharmaceutical research and development activities, especially during the early phases of drug discovery and development. Computational tools are the key components for drug discovery and development. In many instances, they have significantly shortened the time companies consume on drug optimization. Researchers rely on high-performance computing of powerful supercomputers or massively parallel processing systems for carrying out in silico modeling of molecular structures, mapping the interactions between a drug and its target, and developing a simulation of the metabolism, distribution, and interaction of a drug in a human body.

The biopharmaceutical industry uses quantum mechanics for energy calculations and structural optimization, especially during molecular docking and quantitative structure-activity relationship analyses. Quantum mechanics-enabled synthetic chemistry gives researchers the tools to preclude potentially inactive compounds and support the synthesis of highly challenging compounds. Quantum-based virtual screening and optimization leverage molecular simulations. Hybrid quantum-classical approaches that can predict molecule structure are expected to be available in the market within the next five years. They are expected to allow highly effective structure-based drug designs of small molecules.

Challenge: Physical challenges related to using quantum computers

Qubits require low-temperature conditions to run algorithms. They heat up easily during calculations; therefore, a cooling mechanism is required to quickly bring down the temperature of qubits for running several quantum algorithms back to back. Standard fans fail to provide the cooling required by quantum computers. In short, quantum computers require a cool environment for their stable operations. For instance, the quantum computer offered by D-Wave Quantum Inc. requires it to be kept at a temperature of 0.02 K, which is about −460°F. Researchers are making efforts to overcome this challenge.

Moreover, quantum computers are difficult to engineer, develop, and program. As a result, they are crippled by errors in the form of noise, faults, and quantum coherence loss, which is crucial for their operations. This loss of coherence (called decoherence), caused by vibrations, temperature fluctuations, electromagnetic waves, and other interactions with the outside environment, ultimately disrupts the required quantum properties of quantum computers. This pervasiveness of decoherence and other errors result in incorrect responses from existing quantum computers to various programs.

Services segment to account for larger share of quantum computing market during forecast period

The growth of this segment can be attributed to the increasing number of startups investing in research and development related to quantum computing technology. Quantum computing systems and services are used in optimization, simulation, and machine learning applications, leading to optimum utilization costs and highly efficient operations of end-use industries.

Cloud segment to register higher CAGR during forecast period

The cloud segment is projected to account for a larger share of the quantum computing market share than the on-premises segment from 2023 to 2028. As potent systems are being developed, the cloud approach is expected to become a significant revenue source for quantum computing service providers, with users paying for access to noisy intermediate-scale quantum (NISQ) systems that can solve real-world problems. The limited lifespan of rapidly advancing quantum computing systems also favors cloud service providers. The flexibility offered by quantum computing systems to users is another factor favoring the adoption of cloud quantum computing systems and services. For the foreseeable future, quantum computers are expected not to be portable. A cloud can give users access to different devices and simulators from their laptops.

Optimization segment to hold the largest share of quantum computing Industry during the forecast period

Quantum computing optimization is the process of using quantum computing to improve the performance of optimization algorithms. This involves using quantum algorithms to solve optimization problems more quickly and efficiently than traditional methods. Quantum computing can be used in various fields, including finance, logistics, artificial intelligence, and operations research. In addition, quantum computing can be used to solve difficult optimization problems that are too difficult to solve using traditional methods. By leveraging the power and speed of quantum computing, organizations can optimize their operations, improve their decision-making, and reduce costs

North America is expected to hold the second largest share of the quantum computing market during forecast period

North America accounted for the second largest share of the quantum computing market growth during the forecast period. The growth of the industry in this region can be attributed to the presence of key quantum computing system and service providers in North America, as well as an increase in the adoption of quantum computing applications in distinct industries, such as space & defense, chemical, and banking & finance.

Asia Pacific to hold the largest share of the quantum computing market during the forecast period

The significant growth of the Asia Pacific quantum computing market share can be attributed to the increasing demand for quantum computing systems and services from emerging economies such as China and South Korea for use in different applications in the space & defense, healthcare & pharmaceutical, and energy & power industries in the coming years.

Quantum Computing Market by Region

Quantum Computing Market Statistics by Region

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Top Quantum Computing Companies - Key Market Players:

The quantum computing Companies is dominated by a few globally established players such IBM (US), D-Wave Quantum Inc. (Canada), Microsoft (US), Amazon Web Services (US), Rigetti Computing (US), Fujitsu (Japan), Hitachi (Japan), Toshiba (Japan), Google (US), Intel (US), Quantinuum (US), Huawei (China), NEC (Japan), Accenture (Ireland), Nippon Telegraph and Telephone (Japan), Bosch (Germany), Quantum Circuits (US), IonQ (US), QC Ware (US), PsiQuantum (US), Alpine Quantum Technologies GmbH (Tyrol), Xanadu (Canada), ABDProf (Spain), Zapata Computing (US), and Northrop Grumman (US).

Quantum Computing Market Report Scope :

Report Metric

Details

Estimated Market Size USD 4,375 Million
Projected Market Size USD 866 Million
Growth Rate 8.0% CAGR

Market size available for years

2019–2028

Base year considered

2022

Forecast period

2023–2028

Forecast units

Value (USD Million/Billion)

Segments covered

  • By Offering,
  • By Deployment,
  • By  Technology,
  • By Application,
  • By End User, and
  • By Region

Region covered

  • North America,
  • Europe, 
  • Asia Pacific, and
  • Rest of World

Companies covered

The key players in the quantum computing market are IBM (US), D-Wave Quantum Inc. (Canada), Microsoft (US), Amazon Web Services (US), Rigetti Computing (US), Fujitsu (Japan), Hitachi (Japan), Toshiba (Japan), Google (US), Intel (US), Quantinuum (US), Huawei (China), NEC (Japan), Accenture (Ireland), Nippon Telegraph and Telephone (Japan), Bosch (Germany), Quantum Circuits (US), IonQ (US), QC Ware (US), PsiQuantum (US), Alpine Quantum Technologies GmbH (Tyrol), Xanadu (Canada), ABDProf (Spain), Zapata Computing (US), and Northrop Grumman (US).

Key Market Driver Rising adoption of quantum computing technology in various industries and sectors
Key Market Opportunity Growing adoption of quantum computing technology in drug discovery
Largest Growing Region Asia Pacific
Largest Market Share Segment Services

Quantum Computing Market Highlights

The study categorizes the quantum computing market based on offering, deployment, technology, application, end user, and region

Segment

Subsegment

By Offering

  • Systems
  • Services

By Deployment

  • On-premises
  • Cloud

By Technology

  • Trapped Ions
  • Quantum Annealing
  • Superconducting Qubits
  • Others

By Application

  • Optimization
  • Simulation
  • Machine Learning
  • Others

By End User

  • Space & Defense
  • Transportation & Logistics
  • Healthcare & Pharmaceuticals
  • Chemicals, Banking & Finance
  • Energy & Power
  • Academia
  • Government

By Region

  • North America
    • US
    • Canada and Mexico
  • Europe
    • Germany
    • UK
    • France
    • Netherland
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Rest of the World (RoW)
    • Middle East and Africa (MEA)
    • South America

Recent Developments in Quantum Computing Industry :

  • In November 2022, Microsoft (US) launched the Azure Quantum Resource Estimator, a tool that will assist quantum algorithm developers in designing and optimizing algorithms that will run on future quantum computers.
  • In September 2022, Intel (US) launched Intel Quantum SDK enables developers to develop new quantum algorithms for executing qubits in simulation and on real quantum hardware in the future.
  • In May 2022, Quantinuum (US) launched InQuanto which is a quantum computational chemistry software platform that makes it easy for computational chemists to experiment with many quantum algorithms on today’s quantum computers.
  • In July 2022, Mastercard (US) and D-Wave Quantum Inc. collaborated to develop quantum-hybrid solutions
  • In May 2021, Toshiba (Japan) collaborated with Dharma Capital (US) to test the use of quasi-quantum technologies in financial trading

Frequently Asked Questions (FAQ):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 28)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 INCLUSIONS AND EXCLUSIONS 
    1.4 STUDY SCOPE 
           1.4.1 MARKETS COVERED
                    FIGURE 1 QUANTUM COMPUTING MARKET: SEGMENTATION
           1.4.2 REGIONAL SCOPE
           1.4.3 YEARS CONSIDERED
    1.5 CURRENCY CONSIDERED 
    1.6 LIMITATIONS 
    1.7 STAKEHOLDERS 
    1.8 SUMMARY OF CHANGES 
           1.8.1 RECESSION IMPACT
 
2 RESEARCH METHODOLOGY (Page No. - 33)
    2.1 RESEARCH DATA 
           FIGURE 2 QUANTUM COMPUTING MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY AND PRIMARY RESEARCH
           2.1.2 SECONDARY DATA
                    2.1.2.1 Major secondary sources
                    2.1.2.2 Key data from secondary sources
           2.1.3 PRIMARY DATA
                    2.1.3.1 Primary interviews with experts
                    2.1.3.2 Key data from primary sources
                    2.1.3.3 Breakdown of primaries
                    2.1.3.4 Key industry insights
    2.2 MARKET SIZE ESTIMATION 
           FIGURE 3 RESEARCH FLOW FOR MARKET SIZE ESTIMATION
           FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: REVENUES OF COMPANIES
           2.2.1 BOTTOM-UP APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 
           FIGURE 7 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS 
    2.5 APPROACH TO ANALYZE IMPACT OF RECESSION 
    2.6 RESEARCH LIMITATIONS 
    2.7 RISK ASSESSMENT 
 
3 EXECUTIVE SUMMARY (Page No. - 44)
    3.1 QUANTUM COMPUTING MARKET: RECESSION IMPACT 
           FIGURE 8 GDP GROWTH PROJECTIONS FOR MAJOR ECONOMIES, 2021–2023
           FIGURE 9 RECESSION IMPACT ON QUANTUM COMPUTING MARKET, 2019–2028 (USD MILLION)
           FIGURE 10 SERVICES SEGMENT TO ACCOUNT FOR LARGER SHARE OF MARKET DURING FORECAST PERIOD
           FIGURE 11 CLOUD SEGMENT TO LEAD  MARKET DURING FORECAST PERIOD
           FIGURE 12 SUPERCONDUCTING QUBIT SEGMENT TO HOLD LARGEST SHARE OF MARKET DURING FORECAST PERIOD
           FIGURE 13 MACHINE LEARNING SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
           FIGURE 14 BANKING & FINANCE SEGMENT TO HOLD LARGEST SHARE OF MARKET IN 2023
           FIGURE 15 ASIA PACIFIC MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
 
4 PREMIUM INSIGHTS (Page No. - 51)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN QUANTUM COMPUTING MARKET 
           FIGURE 16 RISING INVESTMENTS IN DEVELOPMENT AND DEPLOYMENT OF QUANTUM COMPUTING TECHNOLOGY
    4.2 QUANTUM COMPUTING MARKET , BY OFFERING 
           FIGURE 17 SERVICES SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
    4.3 MARKET, BY SERVICES 
           FIGURE 18 QCAAS SUB-SEGMENT TO ACCOUNT FOR LARGER SHARE OF MARKET FOR SERVICES SEGMENT DURING FORECAST PERIOD
    4.4 ASIA PACIFIC  MARKET, BY APPLICATION AND COUNTRY 
           FIGURE 19 OPTIMIZATION SEGMENT AND CHINA TO HOLD LARGEST SHARES OF ASIA PACIFIC MARKET IN 2023
    4.5 MARKET, BY TECHNOLOGY 
           FIGURE 20 SUPERCONDUCTING QUBIT SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
    4.6 QUANTUM COMPUTING MARKET, BY END USER 
           FIGURE 21 BANKING & FINANCE SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD
    4.7  MARKET, BY COUNTRY 
           FIGURE 22 SOUTH KOREA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 55)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 23 QUANTUM COMPUTING MARKET : DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    FIGURE 24 QUANTUM COMPUTING MARKET : DRIVERS AND THEIR IMPACT
                    5.2.1.1 Rising adoption of quantum computing technology in various industries and sectors
                    5.2.1.2 Increasing investments in quantum computing technology
                               FIGURE 25 INVESTMENTS IN QUANTUM COMPUTING SOFTWARE, 2010–2021
                    5.2.1.3 Surge in number of strategic partnerships and collaborations for advancements in quantum computing technology
                               TABLE 1 MAJOR INVESTMENT DEALS IN QUANTUM COMPUTING MARKET
           5.2.2 RESTRAINTS
                    FIGURE 26 QUANTUM COMPUTING MARKET : RESTRAINTS AND THEIR IMPACT
                    5.2.2.1 Stability and error correction issues
           5.2.3 OPPORTUNITIES
                    FIGURE 27 QUANTUM COMPUTING MARKET : OPPORTUNITIES AND THEIR IMPACT
                    5.2.3.1 Technological advancements in quantum computing technology
                               FIGURE 28 NUMBER OF QUBITS ACHIEVED BY ORGANIZATIONS, 1998–2020
                               TABLE 2 COMPARISON OF QUANTUM COMPUTERS WITH CLASSICAL COMPUTERS IN TERMS OF SPEED
                    5.2.3.2 Growing adoption of quantum computing technology in drug discovery
           5.2.4 CHALLENGES
                    FIGURE 29 MARKET CHALLENGES AND THEIR IMPACT
                    5.2.4.1 Shortage of highly skilled professionals
                    5.2.4.2 Physical challenges related to using quantum computers
    5.3 VALUE CHAIN ANALYSIS 
           FIGURE 30 QUANTUM COMPUTING MARKET: VALUE CHAIN ANALYSIS
           5.3.1 RESEARCH, DESIGN, AND DEVELOPMENT
           5.3.2 MANUFACTURERS
           5.3.3 QUANTUM COMPUTING AS A SERVICE (QCAAS) PROVIDERS
           5.3.4 MARKETING AND SALES EXECUTIVES
           5.3.5 END-USER INDUSTRIES
    5.4 ECOSYSTEM ANALYSIS 
           TABLE 3  MARKET: ECOSYSTEM ANALYSIS
           FIGURE 31 MARKET: ECOSYSTEM ANALYSIS
    5.5 PORTER’S FIVE FORCES ANALYSIS 
           FIGURE 32 QUANTUM COMPUTING MARKET : PORTER’S FIVE FORCES ANALYSIS
    5.6 PRICING ANALYSIS 
           FIGURE 33 AVERAGE SELLING PRICE ANALYSIS, 2019–2028
           FIGURE 34 AVERAGE SELLING PRICE OF QUANTUM COMPUTING AS A SERVICE OFFERED BY THREE KEY PLAYERS
           TABLE 4 AVERAGE SELLING PRICE OF QUANTUM COMPUTING SYSTEMS
    5.7 CASE STUDY ANALYSIS 
           TABLE 5 BBVA PARTNERED WITH ACCENTURE AND D-WAVE SYSTEM TO EXPLORE USE OF QUANTUM COMPUTING TECHNOLOGY IN FINANCIAL SERVICES
           TABLE 6 NIPPON STEEL COLLABORATED WITH HONEYWELL QUANTUM SOLUTIONS AND CAMBRIDGE QUANTUM COMPUTING TO IMPROVE SCHEDULING AT MANUFACTURING PLANTS
           TABLE 7 BBVA AND ZAPATA PARTNERED TO SPEED UP EXISTING QUANTUM ALGORITHMS FOR MONTE CARLO SIMULATIONS
    5.8 TRADE ANALYSIS 
           TABLE 8 IMPORT DATA FOR AUTOMATIC DATA-PROCESSING MACHINES, BY COUNTRY, 2017–2021 (USD MILLION)
           TABLE 9 EXPORT DATA FOR AUTOMATIC DATA-PROCESSING MACHINES, BY COUNTRY, 2017–2021 (USD MILLION)
    5.9 REGULATIONS 
           5.9.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 10 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 11 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 12 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 13 ROW: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.9.2 REGULATORY STANDARDS
                    5.9.2.1 P1913 – Software-defined quantum communication
                    5.9.2.2 P7130 – Standard for quantum technologies definitions
                    5.9.2.3 P7131 – Standard for quantum computing performance metrics and benchmarking
    5.10 TECHNOLOGY ANALYSIS 
           5.10.1 QUANTUM COMMUNICATION TECHNOLOGY
           5.10.2 QUANTUM COMPUTING ACADEMIA
           5.10.3 CYBERSECURITY TRANSFORMATION
           5.10.4 HYBRID QUANTUM COMPUTING
    5.11 PATENT ANALYSIS 
           TABLE 14 PATENT REGISTRATIONS, 2019–2022
           FIGURE 35 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICANTS IN LAST 10 YEARS, 2013–2022
           FIGURE 36 NUMBER OF PATENTS GRANTED OVER LAST 10 YEARS, 2013–2022
           TABLE 15 TOP 20 PATENT OWNERS IN LAST 10 YEARS, 2013–2022
    5.12 KEY CONFERENCES AND EVENTS, 2023–2024 
           TABLE 16 QUANTUM COMPUTING MARKET : KEY CONFERENCES AND EVENTS, 2023–2024
    5.13 REVENUE SHIFT AND NEW REVENUE POCKETS FOR CUSTOMERS’ BUSINESSES 
           FIGURE 37 REVENUE SHIFT IN QUANTUM COMPUTING MARKET
    5.14 KEY STAKEHOLDERS AND BUYING PROCESS 
           5.14.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 38 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS
                    TABLE 17 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS (%)
           5.14.2 BUYING CRITERIA
                    FIGURE 39 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS
                    TABLE 18 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS
 
6 QUANTUM COMPUTING MARKET, BY OFFERING (Page No. - 84)
    6.1 INTRODUCTION 
           FIGURE 40 SERVICES SEGMENT TO ACCOUNT FOR LARGER SHARE OF QUANTUM COMPUTING MARKET DURING FORECAST PERIOD
           TABLE 19 MARKET, BY OFFERING, 2019–2022 (USD MILLION)
           TABLE 20 MARKET, BY OFFERING, 2023–2028 (USD MILLION)
    6.2 SYSTEMS 
           6.2.1 CONSTANT DEVELOPMENT OF QUANTUM COMPUTING SYSTEMS
                    FIGURE 41 TYPES OF QUANTUM COMPUTERS
                    TABLE 21 SYSTEMS:  MARKET, BY OFFERING, 2019–2022 (UNITS)
                    TABLE 22 SYSTEMS:  MARKET, BY OFFERING, 2023–2028 (UNITS)
    6.3 SERVICES 
           6.3.1 HIGH USE OF QUANTUM COMPUTERS TO OFFER VARIOUS SERVICES
                    TABLE 23 SERVICES: MARKET, BY TYPE, 2019–2022 (USD MILLION)
                    TABLE 24 SERVICES: MARKET, BY TYPE, 2023–2028 (USD MILLION)
                    FIGURE 42 QCAAS SUB-SEGMENT TO REGISTER HIGHER CAGR IN QUANTUM COMPUTING MARKET FOR SERVICES SEGMENT DURING FORECAST PERIOD
           6.3.2 QUANTUM COMPUTING AS A SERVICE (QCAAS)
                    6.3.2.1 Rise in number of companies offering Quantum Computing as a Service (QCaaS) with increasing demand for cloud-based systems and services
                    TABLE 25 QUANTUM COMPUTING AS A SERVICE: MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
                    TABLE 26 QUANTUM COMPUTING AS A SERVICE:  MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)
           6.3.3 CONSULTING SERVICES
                    6.3.3.1 Growing awareness regarding potential of quantum computing
                               TABLE 27 CONSULTING SERVICES: MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
                               TABLE 28 CONSULTING SERVICES:  MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)
 
7 QUANTUM COMPUTING MARKET, BY DEPLOYMENT (Page No. - 91)
    7.1 INTRODUCTION 
           FIGURE 43 CLOUD SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
           TABLE 29 MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
           TABLE 30 MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
    7.2 ON-PREMISES 
           7.2.1 RISING DEPLOYMENT OF ON-PREMISES QUANTUM COMPUTERS BY ORGANIZATIONS TO ENSURE DATA SECURITY
                    TABLE 31 ON-PREMISES: MARKET, BY END USER, 2019–2022 (USD MILLION)
                    TABLE 32 ON-PREMISES: MARKET, BY END USER, 2023–2028 (USD MILLION)
    7.3 CLOUD 
           7.3.1 INCREASING PREFERENCE FOR CLOUD QUANTUM COMPUTING TO PERFORM RESEARCH AND DEVELOPMENT USING DIFFERENT APPROACHES
                    TABLE 33 CLOUD:  MARKET, BY END USER, 2019–2022 (USD MILLION)
                    TABLE 34 CLOUD: MARKET, BY END USER, 2023–2028 (USD MILLION)
 
8 QUANTUM COMPUTING MARKET, BY APPLICATION (Page No. - 97)
    8.1 INTRODUCTION 
           FIGURE 44 OPTIMIZATION SEGMENT TO HOLD LARGEST SHARE OF QUANTUM COMPUTING MARKET DURING FORECAST PERIOD
           TABLE 35 MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
           TABLE 36 MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
    8.2 OPTIMIZATION 
           8.2.1 GROWING USE OF QUANTUM ALGORITHMS TO SOLVE OPTIMIZATION PROBLEMS
                    TABLE 37 OPTIMIZATION: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 38 OPTIMIZATION: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    FIGURE 45 ASIA PACIFIC TO REGISTER HIGHEST CAGR IN MARKET FOR OPTIMIZATION SEGMENT DURING FORECAST PERIOD
    8.3 MACHINE LEARNING 
           8.3.1 RISING USE OF MACHINE LEARNING IN VARIOUS INDUSTRIES AND SECTORS
                    TABLE 39 MACHINE LEARNING: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 40 MACHINE LEARNING: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    FIGURE 46 NORTH AMERICA TO HOLD LARGEST SHARE OF QUANTUM COMPUTING MARKET FOR MACHINE LEARNING SEGMENT DURING FORECAST PERIOD
    8.4 SIMULATION 
           8.4.1 INCREASING ADOPTION OF QUANTUM COMPUTING SIMULATION TO STUDY AND DEVELOP QUANTUM ALGORITHMS AND TEST PERFORMANCE OF QUANTUM HARDWARE
                    TABLE 41 SIMULATION: MARKET, BY REGION, 2019–2022 (USD MILLION)
                    TABLE 42 SIMULATION: MARKET, BY REGION, 2023–2028 (USD MILLION)
                    FIGURE 47 ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE OF MARKET FOR SIMULATION SEGMENT DURING FORECAST PERIOD
    8.5 OTHERS 
           TABLE 43 OTHERS: MARKET, BY REGION, 2019–2022 (USD MILLION)
           TABLE 44 OTHERS: MARKET, BY REGION, 2023–2028 (USD MILLION)
 
9 QUANTUM COMPUTING MARKET, BY TECHNOLOGY (Page No. - 106)
    9.1 INTRODUCTION 
           FIGURE 48 TRAPPED ION SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 45 MARKET, BY TECHNOLOGY, 2019–2022 (USD MILLION)
           TABLE 46 MARKET, BY TECHNOLOGY, 2023–2028 (USD MILLION)
    9.2 SUPERCONDUCTING QUBIT 
           9.2.1 PRESENCE OF SUPERCONDUCTING QUBITS IN SERIES OF QUANTIZED ENERGY STATES
                    TABLE 47 SUPERCONDUCTING QUBIT: MARKET, BY SERVICE, 2019–2022 (USD MILLION)
                    TABLE 48 SUPERCONDUCTING QUBIT: MARKET, BY SERVICE, 2023–2028 (USD MILLION)
                    FIGURE 49 QCAAS SUB-SEGMENT TO HOLD LARGER SHARE OF QUANTUM COMPUTING MARKET FOR SUPERCONDUCTING QUBIT SEGMENT DURING FORECAST PERIOD
    9.3 TRAPPED ION 
           9.3.1 GROWING USE OF TRAPPED ION TECHNOLOGY IN QUANTUM COMPUTERS
                    TABLE 49 TRAPPED ION: MARKET, BY SERVICE, 2019–2022 (USD MILLION)
                    TABLE 50 TRAPPED ION: MARKET, BY SERVICE, 2023–2028 (USD MILLION)
                    FIGURE 50 QCAAS SUB-SEGMENT TO REGISTER HIGHER CAGR IN MARKET FOR TRAPPED ION SEGMENT DURING FORECAST PERIOD
    9.4 QUANTUM ANNEALING 
           9.4.1 RISING USE OF QUANTUM ANNEALING TECHNOLOGY TO SOLVE OPTIMIZATION PROBLEMS IN ENTERPRISES
                    TABLE 51 QUANTUM ANNEALING: MARKET, BY SERVICE, 2019–2022 (USD MILLION)
                    TABLE 52 QUANTUM ANNEALING: MARKET, BY SERVICE, 2023–2028 (USD MILLION)
                    FIGURE 51 QCAAS SUB-SEGMENT TO REGISTER HIGHER CAGR IN QUANTUM COMPUTING MARKET FOR QUANTUM ANNEALING SEGMENT DURING FORECAST PERIOD
    9.5 OTHERS 
           TABLE 53 OTHERS: MARKET, BY SERVICE, 2019–2022 (USD MILLION)
           TABLE 54 OTHERS: MARKET, BY SERVICE, 2023–2028 (USD MILLION)
 
10 QUANTUM COMPUTING MARKET, BY END USER (Page No. - 114)
     10.1 INTRODUCTION 
             FIGURE 52 BANKING & FINANCE SEGMENT TO HOLD LARGEST SHARE OF QUANTUM COMPUTING MARKET DURING FORECAST PERIOD
             TABLE 55 MARKET, BY END USER, 2019–2022 (USD MILLION)
             TABLE 56 MARKET, BY END USER, 2023–2028 (USD MILLION)
     10.2 SPACE & DEFENSE 
             10.2.1 RISING USE OF QUANTUM COMPUTING TO PERFORM MULTIPLE OPERATIONS SIMULTANEOUSLY
                        TABLE 57 SPACE & DEFENSE: MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 58 SPACE & DEFENSE: MARKET, BY REGION, 2023–2028 (USD MILLION)
                        TABLE 59 SPACE & DEFENSE: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                        TABLE 60 SPACE & DEFENSE: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                        FIGURE 53 ASIA PACIFIC TO REGISTER HIGHEST CAGR IN QUANTUM COMPUTING MARKET FOR SPACE & DEFENSE SEGMENT DURING FORECAST PERIOD
     10.3 BANKING & FINANCE 
             10.3.1 RISING USE OF QUANTUM COMPUTING FOR RISK MODELLING
                        TABLE 61 BANKING & FINANCE: MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 62 BANKING & FINANCE: MARKET, BY REGION, 2023–2028 (USD MILLION)
                        TABLE 63 BANKING & FINANCE: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                        TABLE 64 BANKING & FINANCE:  MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
                        FIGURE 54 ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE OF QUANTUM COMPUTING MARKET FOR BANKING & FINANCE SEGMENT DURING FORECAST PERIOD
     10.4 HEALTHCARE & PHARMACEUTICAL 
             10.4.1 GROWING DEMAND FOR ROBUST AND AGILE COMPUTING TECHNOLOGY FOR DRUG SIMULATION IN EFFICIENT AND TIMELY MANNER
                        TABLE 65 HEALTHCARE & PHARMACEUTICAL: MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 66 HEALTHCARE & PHARMACEUTICAL: MARKET, BY REGION, 2023–2028 (USD MILLION)
                        TABLE 67 HEALTHCARE & PHARMACEUTICAL: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                        TABLE 68 HEALTHCARE & PHARMACEUTICAL: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
     10.5 ENERGY & POWER 
             10.5.1 INCREASED REQUIREMENT TO DEVELOP NEW ENERGY SOURCES AND OPTIMIZE ENERGY DELIVERY PROCESS
                        TABLE 69 ENERGY & POWER: MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 70 ENERGY & POWER: MARKET, BY REGION, 2023–2028 (USD MILLION)
                        TABLE 71 ENERGY & POWER: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                        TABLE 72 ENERGY & POWER:  MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
     10.6 CHEMICAL 
             10.6.1 GROWING ADOPTION OF QUANTUM COMPUTING TO OPTIMIZE LARGE-SCALE PROCESSES USED IN PHARMACEUTICAL AND CHEMICAL MANUFACTURING
                        TABLE 73 CHEMICAL: MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 74 CHEMICAL: MARKET, BY REGION, 2023–2028 (USD MILLION)
                        TABLE 75 CHEMICAL: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                        TABLE 76 CHEMICAL: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
     10.7 TRANSPORTATION & LOGISTICS 
             10.7.1 RISING USE OF QUANTUM-BASED APPROACHES TO OPTIMIZE TRAFFIC FLOW
                        TABLE 77 TRANSPORTATION & LOGISTICS: MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 78 TRANSPORTATION & LOGISTICS: MARKET, BY REGION, 2023–2028 (USD MILLION)
                        TABLE 79 TRANSPORTATION & LOGISTICS: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                        TABLE 80 TRANSPORTATION & LOGISTICS: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
     10.8 GOVERNMENT 
             10.8.1 INCREASED USE OF QUANTUM COMPUTING TO SOLVE PRACTICAL PROBLEMS OF CLIMATE CHANGE AND TRAFFIC MANAGEMENT
                        TABLE 81 GOVERNMENT: MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 82 GOVERNMENT: MARKET, BY REGION, 2023–2028 (USD MILLION)
                        TABLE 83 GOVERNMENT: MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                        TABLE 84 GOVERNMENT: MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
     10.9 ACADEMIA 
             10.9.1 RISING INTEGRATED FUNDAMENTAL QUANTUM INFORMATION SCIENCE RESEARCH ACTIVITIES
                        TABLE 85 ACADEMIA: MARKET, BY REGION, 2019–2022 (USD MILLION)
                        TABLE 86 MARKET, BY REGION, 2023–2028 (USD MILLION)
                        TABLE 87 MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
                        TABLE 88 ACADEMIA: QUANTUM COMPUTING MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
 
11 QUANTUM COMPUTING MARKET, BY REGION (Page No. - 132)
     11.1 INTRODUCTION 
             FIGURE 55 SOUTH KOREAN QUANTUM COMPUTING MARKET TO REGISTER HIGHEST CAGR FROM 2023 TO 2028
             TABLE 89  MARKET, BY REGION, 2019–2022 (USD MILLION)
             TABLE 90  MARKET, BY REGION, 2023–2028 (USD MILLION)
     11.2 NORTH AMERICA 
             FIGURE 56 NORTH AMERICA: SNAPSHOT OF MARKET
             TABLE 91 NORTH AMERICA: QUANTUM COMPUTING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
             TABLE 92 NORTH AMERICA:  MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             TABLE 93 NORTH AMERICA: MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
             TABLE 94 NORTH AMERICA:  MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             TABLE 95 NORTH AMERICA: MARKET, BY END USER, 2019–2022 (USD MILLION)
             TABLE 96 NORTH AMERICA: MARKET, BY END USER, 2023–2028 (USD MILLION)
             11.2.1 US
                        11.2.1.1 High adoption of new and advanced technologies
             11.2.2 CANADA AND MEXICO
                        11.2.2.1 Increased government-led investments in development of new technologies
     11.3 EUROPE 
             FIGURE 57 EUROPE: SNAPSHOT OF QUANTUM COMPUTING MARKET
             TABLE 97 EUROPE: QUANTUM COMPUTING MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
             TABLE 98 EUROPE: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             TABLE 99 EUROPE: MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
             TABLE 100 EUROPE: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             TABLE 101 EUROPE: MARKET, BY END USER, 2019–2022 (USD MILLION)
             TABLE 102 EUROPE: MARKET, BY END USER, 2023–2028 (USD MILLION)
             11.3.1 UK
                        11.3.1.1 Developments in industries to increase adoption of quantum computing technology
             11.3.2 GERMANY
                        11.3.2.1 Government-led initiatives to increase awareness regarding importance of quantum computing technology
             11.3.3 FRANCE
                        11.3.3.1 Rising demand for advanced technologies to ensure secure communication in various industries and sectors
             11.3.4 NETHERLANDS
                        11.3.4.1 Rising initiatives to develop quantum computing technology
             11.3.5 REST OF EUROPE
     11.4 ASIA PACIFIC 
             FIGURE 58 ASIA PACIFIC: SNAPSHOT OF QUANTUM COMPUTING MARKET
             TABLE 103 ASIA PACIFIC:  MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
             TABLE 104 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             TABLE 105 ASIA PACIFIC: MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
             TABLE 106 ASIA PACIFIC: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             TABLE 107 ASIA PACIFIC: MARKET, BY END USER, 2019–2022 (USD MILLION)
             TABLE 108 ASIA PACIFIC: MARKET, BY END USER, 2023–2028 (USD MILLION)
             11.4.1 CHINA
                        11.4.1.1 Increased government-led support and initiatives to develop quantum computers
             11.4.2 JAPAN
                        11.4.2.1 Increased focus on deployment of emerging technologies
             11.4.3 SOUTH KOREA
                        11.4.3.1 Growing adoption of quantum computing technology by key consumer electronics manufacturers
             11.4.4 REST OF ASIA PACIFIC
     11.5 ROW 
             TABLE 109 ROW: MARKET, BY REGION, 2019–2022 (USD MILLION)
             TABLE 110 ROW: MARKET, BY REGION, 2023–2028 (USD MILLION)
             TABLE 111 ROW: MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
             TABLE 112 ROW: MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             TABLE 113 ROW: MARKET, BY END USER, 2019–2022 (USD MILLION)
             TABLE 114 ROW: MARKET, BY END USER, 2023–2028 (USD MILLION)
             11.5.1 SOUTH AMERICA
                        11.5.1.1 Establishment of Brazil Quantum as first quantum community in Brazil to solve problems regarding quantum computing
             11.5.2 MIDDLE EAST & AFRICA
                        11.5.2.1 Rising initiatives to increase awareness regarding quantum computing
 
12 COMPETITIVE LANDSCAPE (Page No. - 154)
     12.1 INTRODUCTION 
     12.2 KEY STRATEGIES ADOPTED BY MAJOR COMPANIES 
             TABLE 115 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN QUANTUM COMPUTING MARKET
     12.3 REVENUE ANALYSIS 
             FIGURE 59 REVENUE ANALYSIS OF KEY PLAYERS IN MARKET, 2017–2021
     12.4 MARKET SHARE ANALYSIS, 2022 
             FIGURE 60 SHARE OF KEY PLAYERS IN QUANTUM COMPUTING MARKET, 2022
             TABLE 116  MARKET: DEGREE OF COMPETITION
     12.5 RANKING ANALYSIS OF KEY MARKET PLAYERS 
             FIGURE 61 QUANTUM COMPUTING MARKET RANKING, 2022
     12.6 COMPANY EVALUATION QUADRANT, 2022 
             12.6.1 STARS
             12.6.2 EMERGING LEADERS
             12.6.3 PERVASIVE PLAYERS
             12.6.4 PARTICIPANTS
                        FIGURE 62  MARKET: COMPANY EVALUATION QUADRANT, 2022
     12.7 COMPETITIVE BENCHMARKING 
             12.7.1 COMPANY FOOTPRINT: OFFERING
             12.7.2 COMPANY FOOTPRINT: REGION
             12.7.3 OVERALL COMPANY FOOTPRINT
     12.8 STARTUP/SME EVALUATION QUADRANT, 2022 
             12.8.1 PROGRESSIVE COMPANIES
             12.8.2 RESPONSIVE COMPANIES
             12.8.3 DYNAMIC COMPANIES
             12.8.4 STARTING BLOCKS
                        FIGURE 63 Q MARKET: STARTUP/SME EVALUATION QUADRANT, 2022
                        TABLE 117 MARKET: LIST OF KEY STARTUPS/SMES
                        TABLE 118  MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
     12.9 COMPETITIVE SITUATIONS AND TRENDS 
             TABLE 119 MARKET: PRODUCT LAUNCHES, 2019–2022
             TABLE 120 MARKET: DEALS, 2019–2022
             TABLE 121 MARKET: OTHERS, 2019–2022
 
13 COMPANY PROFILES (Page No. - 179)
     13.1 KEY PLAYERS 
(Business Overview, Products Offered, Recent Developments, and MnM View)*  
             13.1.1 IBM
                        TABLE 122 IBM: COMPANY OVERVIEW
                        FIGURE 64 IBM: COMPANY SNAPSHOT
                        TABLE 123 IBM: PRODUCT LAUNCHES
                        TABLE 124 IBM: DEALS
             13.1.2 D-WAVE QUANTUM INC.
                        TABLE 125 D-WAVE QUANTUM INC.: COMPANY OVERVIEW
                        TABLE 126 D-WAVE QUANTUM INC.: PRODUCT LAUNCHES
                        TABLE 127 D-WAVE QUANTUM INC.: DEALS
             13.1.3 MICROSOFT
                        TABLE 128 MICROSOFT CORPORATION: COMPANY OVERVIEW
                        FIGURE 65 MICROSOFT: COMPANY SNAPSHOT
                        TABLE 129 MICROSOFT: PRODUCT LAUNCHES
                        TABLE 130 MICROSOFT: DEALS
             13.1.4 AMAZON WEB SERVICES (AWS)
                        TABLE 131 AMAZON WEB SERVICES: COMPANY OVERVIEW
                        FIGURE 66 AMAZON WEB SERVICES: COMPANY SNAPSHOT
                        TABLE 132 AMAZON WEB SERVICES: PRODUCT LAUNCHES
                        TABLE 133 AMAZON WEB SERVICES: DEALS
                        TABLE 134 AMAZON WEB SERVICES: OTHERS
             13.1.5 RIGETTI COMPUTING
                        TABLE 135 RIGETTI COMPUTING: COMPANY OVERVIEW
                        TABLE 136 RIGETTI COMPUTING: PRODUCT LAUNCHES
                        TABLE 137 RIGETTI COMPUTING: DEALS
                        TABLE 138 RIGETTI COMPUTING: OTHERS
             13.1.6 GOOGLE
                        TABLE 139 GOOGLE: COMPANY OVERVIEW
                        FIGURE 67 GOOGLE: COMPANY SNAPSHOT
                        TABLE 140 GOOGLE: PRODUCT LAUNCHES
                        TABLE 141 GOOGLE: DEALS
             13.1.7 INTEL
                        TABLE 142 INTEL: COMPANY OVERVIEW
                        FIGURE 68 INTEL: COMPANY SNAPSHOT
                        TABLE 143 INTEL: PRODUCT LAUNCHES
                        TABLE 144 INTEL: DEALS
             13.1.8 TOSHIBA
                        TABLE 145 TOSHIBA: COMPANY OVERVIEW
                        FIGURE 69 TOSHIBA: COMPANY SNAPSHOT
                        TABLE 146 TOSHIBA: DEALS
             13.1.9 QUANTINUUM
                        TABLE 147 QUANTINUUM: COMPANY OVERVIEW
                        TABLE 148 QUANTINUUM: PRODUCT LAUNCHES
                        TABLE 149 QUANTINUUM: DEALS
             13.1.10 QC WARE
                        TABLE 150 QC WARE: COMPANY OVERVIEW
                        TABLE 151 QC WARE: PRODUCT LAUNCHES
                        TABLE 152 QC WARE: DEALS
* Business Overview, Products Offered, Recent Developments, and MnM View might not be captured in case of unlisted companies.  
     13.2 OTHER COMPANIES 
             13.2.1 1QB INFORMATION TECHNOLOGIES
             13.2.2 HUAWEI
             13.2.3 BOSCH
             13.2.4 NEC
             13.2.5 ALPINE QUANTUM TECHNOLOGIES GMBH (AQT)
             13.2.6 NIPPON TELEGRAPH AND TELEPHONE CORPORATION (NTT)
             13.2.7 HITACHI
             13.2.8 NORTHROP GRUMMAN
             13.2.9 ACCENTURE
             13.2.10 FUJITSU
             13.2.11 QUANTICA COMPUTACAO
             13.2.12 ZAPATA COMPUTING
             13.2.13 XANADU
             13.2.14 IONQ
             13.2.15 RIVERLANE
             13.2.16 QUANTUM CIRCUITS
             13.2.17 EVOLUTIONQ
             13.2.18 ABDPROF
             13.2.19 ANYON SYSTEMS
             13.2.20 PSIQUANTUM
 
14 APPENDIX (Page No. - 233)
     14.1 DISCUSSION GUIDE 
     14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     14.3 CUSTOMIZATION OPTIONS 
     14.4 RELATED REPORTS 
     14.5 AUTHOR DETAILS 
 

The study involved four major activities in estimating the size of the quantum computing market. Exhaustive secondary research has been done to collect information on the market, peer market, and parent market. Validation of these findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the global market size. After that, market breakdown and data triangulation have been used to estimate the market sizes of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources were referred to for identifying and collecting information important for this study. The secondary sources include corporate filings (such as annual reports, investor presentations, and financial statements), trade shows, professional associations, white papers, process and communication-related journals, websites, and certified publications. They also include articles from recognized authors, gold- and silver-standard websites, directories, and databases. The secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, and key developments from both market- and technology-oriented perspectives. The secondary data was collected and analyzed to arrive at the overall market size, which was further validated through primary research.

Primary Research

In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from the major companies and organizations operating in the quantum computing market.

After the complete market engineering (which includes calculations for market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at in this process. Primary research was conducted to identify segmentation types, industry trends, key players, competitive landscape, and key market dynamics, such as drivers, restraints, opportunities, and challenges, along with the key strategies adopted by the players operating in the quantum computing market.

Extensive primary research was conducted after acquiring knowledge about the quantum computing market through secondary research. Several primary interviews were conducted with market experts from the demand and supply sides across four major regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). RoW comprises the Middle East and Africa. Approximately 20% and 80% of the primary interviews have been conducted with parties from the demand and supply sides, respectively. This primary data was collected through questionnaires, emails, and telephonic interviews.

Quantum Computing Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the total size of the quantum computing market. These methods have also been extensively used to estimate the sizes of various market subsegments. The research methodology used to estimate the market sizes includes the following:

  • Identifying various applications that use or are expected to use the quantum computing market.
  • Analyzing historical and current data pertaining to the size of the quantum computing market for each application
  • Analyzing the average selling prices of quantum computing based on different technologies
  • Studying various paid and unpaid sources, such as annual reports, press releases, white papers, and databases
  • Identifying leading providers of quantum computing, studying their portfolios, and understanding features of their products and their underlying technologies, as well as the types of quantum computing products offered
  • Tracking ongoing and identifying upcoming developments in the market through investments, research and development activities, product launches, expansions, and partnerships, and forecasting the market size based on these developments and other critical parameters
  • Carrying out multiple discussions with key opinion leaders to understand the technologies used in quantum computing, and products wherein they are deployed, and analyze the break-up of the scope of work carried out by key manufacturers of quantum computing providers
  • Verifying and crosschecking estimates at every level through discussions with key opinion leaders, such as CXOs, directors, and operations managers, and finally with domain experts at MarketsandMarkets

Market Size Estimation Methodology-Bottom-Up Approach

Quantum Computing Market Size, and Bottom-Up Approach

Data Triangulation

After arriving at the overall market size-using the market size estimation processes explained above-the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides.

The main objectives of this study are as follows:

  • To define, describe, segment, and forecast the quantum computing market, in terms of value, based on offering, deployment, technology, application, end user, and region.
  • To forecast the size of the market and its segments with respect to four main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW), along with their key countries
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
  • To provide detailed information regarding the key factors influencing market growth, such as drivers, restraints, opportunities, and challenges
  • To provide a detailed analysis of the quantum computing value chain
  • To analyze the opportunities in the market for stakeholders and provide a detailed competitive landscape of the market leaders
  • To strategically profile the key players and comprehensively analyze their market ranking and core competencies2
  • To analyze key growth strategies such as expansions, contracts, joint ventures, acquisitions, product launches and developments, and research and development activities undertaken by players operating in the quantum computing market.

Available Customizations:

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  • Further breakdown of the market in different regions to the country-level
  • Detailed analysis and profiling of additional market players (up to 5)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
SE 5490
Published ON
Mar, 2023
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