HOME Top Market Reports Quantum Computing Market by Revenue Source, Application (Simulation, Optimization, and Sampling), Industry (Defense, Banking & Finance, Energy & Power, Chemicals, and Healthcare & Pharmaceuticals), and Geography - Global Forecast to 2023

Quantum Computing Market by Revenue Source, Application (Simulation, Optimization, and Sampling), Industry (Defense, Banking & Finance, Energy & Power, Chemicals, and Healthcare & Pharmaceuticals), and Geography - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: August 2017
Report Code: SE 5490

 

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Driven by rising incidences of cybercrime and growing adoption of quantum computing technology in the defense, banking & finance, healthcare & pharmaceuticals, and chemicals, the quantum computing market is likely to witness a high growth in the coming years. The quantum computing market was valued at USD 88.4 Million in 2016 and is expected to grow at a CAGR of 29.04% between 2017 and 2023. The base year considered for the study is 2016, and the forecast period is between 2017 and 2023. The objective of the report is to provide a detailed analysis of the quantum computing market based on revenue source, application, industry, and region. The report provides detailed information regarding the major factors influencing the growth of the market.

The research methodology used to estimate and forecast the quantum computing market begins with obtaining data through secondary research such as journal and the newsletters and whitepapers of the leading players in this market. The bottom-up procedure has been employed to arrive at the overall size of the market from the revenue of key players. After arriving at the overall market size, the total market has been split into several segments and subsegments, which then has been verified through primary research by conducting extensive interviews with officials holding key positions in the industry such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primaries has been depicted in the following figure:

Quantum Computing Market

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

The players involved in the quantum computing market are D-Wave Systems Inc. (Canada), 1QB Information Technologies Inc. (Canada), IBM Corporation (US), QxBranch LLC (US), Research at Google - Google Inc. (US), MagiQ Technologies (US), Rigetti Computing (US), and Station Q- Microsoft Corporation (US).

Target audience of the report:

  • Quantum computing component manufacturers
  • Original device manufacturers (ODMs)
  • Original equipment manufacturers (OEMs) of quantum computers
  • Assembly, testing, and packaging vendors
  • Distributors and traders
  • Research organizations
  • Organizations, forums, alliances, and associations related to quantum computing

This study answers several questions for the stakeholders, primarily regarding the market segments to focus on in the next two to five years for prioritizing efforts and investments.

Scope of the report:

This research report categorizes the overall quantum computing market based on revenue source, application, industry, and geography.

Quantum Computing Market, by Revenue Source

  • Hardware
  • Software
  • Services

Quantum Computing Market, by Application

  • Simulation
  • Optimization
  • Sampling

Quantum Computing Market, by Industry

  • Defense
  • Healthcare & pharmaceuticals
  • Chemicals
  • Banking & finance
  • Energy & power

Quantum Computing Market, by Geography

  • North America
  • Europe
  • Asia Pacific (APAC)

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players on the basis of various blocks of the ecosystem

Industry Analysis

  • Further breakdown of the industry segment, by components and material  

Geographic Analysis

  • Further breakdown of the geography segment, by components and material

Table of Contents

1 Introduction (Page No. - 11)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Geographic Scope
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Market Stakeholders

2 Research Methodology (Page No. - 15)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
           2.2.3 Market Share Estimation
    2.3 Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 23)

4 Premium Insights (Page No. - 27)
    4.1 Global Quantum Computing Market
    4.2 Market, By Industry
    4.3 Market, By Industry & Application
    4.4 Region-Wise Analysis of Market
    4.5 Life Cycle Analysis of Market, By Industry

5 Market Overview (Page No. - 31)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Rising Incidences of Cybercrime
                    5.2.1.2 Early Adoption of Quantum Computing in the Defense and Automotive Industry
                    5.2.1.3 Increasing Investment By Government Entities in the Market
           5.2.2 Restraints
                    5.2.2.1 Presence of A Substitute Technology
                    5.2.2.2 Reluctance to Accept New Technology
           5.2.3 Opportunities
                    5.2.3.1 Use of Quantum Cryptography to Secure Mobile Transactions
                    5.2.3.2 Increase in Adoption of Quantum Computing in Drug Discovery
           5.2.4 Challenges
                    5.2.4.1 Need for Highly Skilled Employees
    5.3 Upcoming Revenue Pockets
           5.3.1 Introduction
           5.3.2 Machine Learning
           5.3.3 Pattern Recognition
           5.3.4 Business Analytics
           5.3.5 Manufacturing & Supply Chain Infrastructure
           5.3.6 Energy & Power – Clean Energy
    5.4 Key Technologies

6 Quantum Computing Market, By Revenue Source (Page No. - 38)
    6.1 Introduction
    6.2 Hardware
    6.3 Software
    6.4 Services

7 Quantum Computing Market, By Application (Page No. - 41)
    7.1 Introduction
    7.2 Simulation
    7.3 Optimization
    7.4 Sampling

8 Quantum Computing Market, By Industry (Page No. - 45)
    8.1 Introduction
    8.2 Defense
    8.3 Healthcare & Pharmaceuticals
    8.4 Chemicals
    8.5 Banking & Finance
    8.6 Energy & Power

9 Geographic Analysis (Page No. - 53)
    9.1 Introduction
    9.2 North America
           9.2.1 US
           9.2.2 Canada
           9.2.3 Mexico
    9.3 Europe
           9.3.1 UK
           9.3.2 Germany
           9.3.3 France
           9.3.4 Rest of Europe
    9.4 Asia Pacific
           9.4.1 China
           9.4.2 Japan
           9.4.3 South Korea

10 Competitive Landscape (Page No. - 70)
     10.1 Overview
     10.2 Market Ranking Analysis in Quantum Computing Market
     10.3 Competitive Situation and Trends
             10.3.1 Partnership & Collaborations
             10.3.2 Investments
     10.4 Competitive Leadership Mapping 2016
             10.4.1 Visionary Leaders
             10.4.2 Dynamic Differentiators
             10.4.3 Innovators
             10.4.4 Emerging Companies
     10.5 Competitive Benchmarking
             10.5.1 Business Strategy Excellence (12 Players)
             10.5.2 Strength of Product Portfolio (12 Players)

Top 12 Companies Analyzed for This Study are - D-Wave Systems Inc., International Business Machines Corporation, Anyon Systems Inc., Cambridge Quantum Computing Limited, QC Ware, Corp., Qxbranch, 1qb Information, Chnologies, Magiq Technologies, Research at Google - Google Inc., Stationq-Microsoft, Quantum Circuits, Inc., Rigetti Computing

11 Company Profiles (Page No. - 78)
(Business Overview, Products Offered, Business Strategy, Recent Developments, Key Relationships) *
     11.1 Introduction
     11.2 D-Wave Systems Inc.
     11.3 Qxbranch, LLC
     11.4 International Business Machines Corporation (IBM)
     11.5 Cambridge Quantum Computing Ltd
     11.6 1qb Information Technologies Inc.
     11.7 QC Ware Corp.
     11.8 Magiq Technologies Inc.
     11.9 Station Q - Microsoft Corporation
     11.10 Rigetti Computing
     11.11 Research at Google – Google Inc.

*Details on Business Overview, Products Offered, Business Strategy, Recent Developments, Key Relationships Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 101)
     12.1 Insights of Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Introducing RT: Real-Time Market Intelligence
     12.5 Available Customizations
     12.6 Related Reports
     12.7 Author Details


List of Tables (33 Tables)

Table 1 Market, By Revenue Source, 2015–2023 (USD Million)
Table 2 Market, By Application, 2015–2023 (USD Million)
Table 3 Market for Simulation, By Revenue Source, 2015–2023 (USD Million)
Table 4 Market for Optimization, By Revenue Source, 2015–2023 (USD Million)
Table 5 Quantum Computer Market for Sampling, By Revenue Source, 2015–2023 (USD Million)
Table 6 Market, By Industry, 2015–2023 (USD Million)
Table 7 Market for Defense, By Application, 2015–2023 (USD Million)
Table 8 Market for Healthcare & Pharmaceuticals, By Application, 2015–2023 (USD Million)
Table 9 Market for Chemicals, By Application, 2015–2023 (USD Million)
Table 10 Market for Banking & Finance, By Application, 2015–2023 (USD Million)
Table 11 Market for Energy & Power, By Application, 2015–2023 (USD Million)
Table 12 Quantum Computing Market, By Region, 2015–2023 (USD Million)
Table 13 Quantum Computing Patents
Table 14 Market in North America, By Country, 2015–2023 (USD Million)
Table 15 Market in North America, By Application, 2015–2023 (USD Million)
Table 16 Market in US, By Industry, 2015–2023 (USD Million)
Table 17 Market in Canada, By Industry, 2015–2023 (USD Million)
Table 18 Market in Mexico, By Industry, 2015–2023 (USD Million)
Table 19 Focus Area of Quantum Computing Technology in Coming Years
Table 20 Quantum Computing Market in Europe, By Country, 2015–2023 (USD Million)
Table 21 Market in Europe, By Application, 2015–2023 (USD Million)
Table 22 Market in UK, By Industry, 2015–2023 (USD Million)
Table 23 Market in Germany, By Industry, 2015–2023 (USD Million)
Table 24 Market in France, By Industry, 2015–2023 (USD Million)
Table 25 Market in Rest of Europe, By Industry, 2015–2023 (USD Million)
Table 26 Market in APAC, By Country, 2015–2023 (USD Million)
Table 27 Market in APAC, By Application, 2015–2023 (USD Million)
Table 28 Market in China, By Industry, 2015–2023 (USD Million)
Table 29 Market in Japan, By Industry, 2015–2023 (USD Million)
Table 30 Market in South Korea, By Industry, 2015–2023 (USD Million)
Table 31 Top 5 Players in the Quantum Computing Market, 2016
Table 32 Most Recent Partnerships & Collaborations in Market
Table 33 Most Recent Acquisitions, Expansions, and Agreements in Market


List of Figures (29 Figures)

Figure 1 Quantum Computing Market: Segmentation
Figure 2 Quantum Computing Market: Research Design
Figure 3 Research Flow of Market Size Estimation
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Assumptions of the Research Study
Figure 8 Sampling Application Would Hold Largest Share of  Market During Forecast Period
Figure 9 Revenue Realization From Software Would Lead Market During Forecast Period
Figure 10 Energy & Power Expected to Be Fastest Growing Industry in Market During Forecast Period
Figure 11 North America Holds the Highest Market Share in Market
Figure 12 Defense and Banking & Finance Would Lead to Increase in Demand for Quantum Computing During Forecast Period
Figure 13 Defense and Banking & Finance to Lead the Market During Forecast Period
Figure 14 Defense is Expected to Hold Largest Share of Market By 2023
Figure 15 Quantum Computing Market in APAC Expected to Grow at Highest CAGR Between 2017 and 2023
Figure 16 Defense and Banking & Finance Witnessed Growth in 2016 and are Likely to Report Similar Progress in Near Future
Figure 17 Upcoming Revenue Pockets of Market
Figure 18 Energy & Power Industry to Witness Highest CAGR in Market During Forecast Period
Figure 19 Military Budget Trend During 2006–2016
Figure 20 Quantum Computing Market: Geographic Snapshot
Figure 21 Snapshot of  Market in North America
Figure 22 Snapshot of Market in Europe
Figure 23 Estimated Yearly Budget for Quantum Computing in Europe, 2015
Figure 24 Snapshot of Quantum Computing Market in Asia Pacific
Figure 25 Companies Adopted Product Developments as the Key Growth Strategy Between January 2015 and March 2017
Figure 26 Quantum Computing Market: Evaluation Framework (2015-2017)
Figure 27 Battle for Market Share Partnerships & Collaborations Emerged as Key Startegies Between 2015 and 2017
Figure 28 Geographic Revenue Mix of the Top 5 Players in the Market
Figure 29 IBM: Company Snapshot

The quantum computing market is expected to be valued at USD 495.3 Million by 2023, at a CAGR of 29.04% between 2017 and 2023. The major factors driving the growth of this market include rising incidences of cybercrimes, early adoption of quantum computing in the defense and automotive industry, and increasing investment by government entities in the market. To secure mobile transactions, quantum key distribution systems are being adopted. Quantum keys are considered secure, as it cannot be easily hacked. Moreover, the University of Oxford (England), Nokia Corporation (Finland) and Bay Photonics Ltd. (UK) have developed a device, which is capable of sending quantum keys using polarized light, thereby making the payments more secure on a smartphone. This factor would have a positive impact on the quantum computing market during the forecast period.

This report segments the quantum computing market on the basis of revenue source, application, industry, and geography. The sampling application of quantum computing accounted for the largest share in 2016. This growth is mainly attributed to the growing demand for the sampling application in the banking & finance, defense, healthcare & pharmaceuticals, and chemicals industries.

North America accounted for the largest share of the overall quantum computing market in 2016. On the other hand, Asia Pacific (APAC) would be the fastest growing region for quantum computing during the forecast period. This growth can be attributed to the increasing demand for quantum technology to solve the most tedious and complex problems in the defense and banking & finance industry.

Quantum Computing Market

On the basis of industry, the quantum computing market is segmented into defense, healthcare & pharmaceuticals, chemicals, banking & finance, and energy & power. The quantum computing market for energy & power is expected to witness a significant growth during the forecast period. The significant growth of this industry can be attributed to the highly attractive outlook for nuclear and renewable sectors. Applications from energy & power industry such as energy exploration, seismic survey optimization, and reservoir optimization would drive the growth of the  market in the energy & power industry.

Quantum computing is a new and promising technology and to implement it, a pool of technically skilled employees is required. Hence, to find an employee with the required skill set is the biggest challenge for industry players. To overcome this challenge, governments and quantum computer manufacturers are planning to start training sessions related to this technology. For example, D Wave Systems Inc. (Canada) provides “Training Modules” to its customers to make them aware of the workings of quantum computers.

The key players in this market are D Wave Systems Inc. (Canada), 1QB Information Technologies Inc. (Canada), QC Ware Corp. (US), Google Inc. (US), and QxBranch LLC (US).

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

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