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According to MRFR analysis, the global Quantum Computing Market is expected to register a CAGR of ~ 31.3% from 2021 to 2030 and hold a value of over ~USD 4,851.8 million by 2030.
Quantum computing is evolving as an area of interest for quantum information science research. The technology has already started appealing to R&D investments to achieve quantum supremacy. In 2019, Google officially announced that it realized quantum supremacy. It capacities great potential in diverse areas, including financial modeling, medical research, traffic optimization, weather forecasting, artificial intelligence (AI), and more. It can be a ground-breaking technology in tackling weather change and enabling companies to recover their cybersecurity strategies. The COVID-19 outburst significantly impacted the expansion of computing services worldwide. Since the global closure, according to McKinsey, the epidemic phase represented that the funding for quantum technology-focused startups doubled from USD 700 million in 2020 to USD 1.4 billion in 2021. In the second semi of 2021, the share of funds in quantum computing from private and venture capital entities showcased a significant increase. This increase accounted for over 70% of investments, demonstrating growing confidence across companies that the technology will offer positive outcomes.
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Quantum Computing Market Report Scope:
|Revenue Forecast in 2030:||USD 4,851.8 Million|
|Growth Rate:||CAGR of 31.3% from 2022 to 2030|
|Forecast Period:||2022 -2030|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
North America has seen noteworthy growth in the market due to a highly competitive landscape and the early acceptance of advanced technologies. The cloud adoption readiness rate of countries across the regions and end-users’ readiness to develop advanced services have impacted the market growth across North America.
Europe is anticipated to have significant growth as the region has growing start-ups operating on the technology.
Main businesses in Asia Pacific comprise banking and finance, healthcare, and substances. The manufacturers in the region of electronics, such as mobile phones, laptops, and gaming consoles, are in China, South Korea, and Japan. Across these businesses, there is a need to tackle issues in simulation, machine knowledge, and optimization applications. The region’s medium-sized and large enterprises are making from the fast expansion of Asia Pacific’s rising economies and increased use of new technologies in the industrial sector.
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Some of the key Quantum Computing market players are Intel Corporation, Atos SE, Cambridge Quantum Computing Ltd., IBM Corporation, Rigetti & Co Inc., and D-Wave Systems Inc.
The global Quantum Computing Market has been segmented into Component and deployment
Based on components, The global Quantum Computing Market has been segmented into hardware, software, and services. Hardware is projected to grow significantly as hardware is a significant bottleneck in the ecosystem. Multiple quantum-computing hardware platforms are presently in development. The most advanced are superconducting circuits and trapped ions, on which all commercially available quantum computers are based.
Based on deployment, The global Quantum Computing Market has been segmented into cloud and on-premise. The cloud segment is anticipated to lead the market during the estimated period. The need for cloud-based computing solutions and services is likely to upsurge as more robust systems are developed
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