The Quantum Computing market is expected to grow from USD 472 million in 2021 to USD 1,765 million by 2026, at a CAGR of 30.2%. The early adoption of quantum computing in the banking and finance sector is expected to fuel the growth of the market globally. Other key factors contributing to the growth of the quantum computing market include rising investments by governments of different countries to carry out research and development activities related to quantum computing technology. Several companies are focusing on the adoption of QCaaS post-COVID-19. This, in turn, is expected to contribute to the growth of the quantum computing market. However, stability and error correction issues is expected to restrain the growth of the market.
In 2019, the Quantum Computing market was dominated by International Business Machines (US), D-Wave Systems (Canada), Microsoft (US), Amazon (US), and Rigetti Computing (US). The major strategies adopted by the top 5 players in the Quantum Computing market included product launches/developments, partnerships and collaborations which helped them to innovate on their product offerings, cope up with the COVID-19 outbreak and broaden their customer base.
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Top 2 players in the Quantum Computing Market are:
International Business Machines (US)
IBM provides information technology products, along with computer solutions and services across the world. It has various divisions, namely, IBM Global Services, IBM Smartcamp, and IBM Research. Under its IBM Research division, the company has started the Quantum Experience, a set up wherein researchers carry out research on the IBM quantum computers through the cloud.
D- Wave Systems (Canada)
D- Wave Systems is one of the global leaders manufacturing and providing quantum computing systems and software. It is the world’s first commercial supplier of quantum computers. The company has its presence in various locations such as the US, Europe, and Asia. The company offers a full stack of systems, software, developer tools, and services to enable enterprises, governments, laboratories, and academic institutions to access the power of quantum computing.
Related Reports:
Quantum Computing Market with COVID-19 impact by Offering (Systems and Services), Deployment (On Premises and Cloud Based), Application, Technology, End-use Industry and Region - Global Forecast to 2026
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