Quantum Computing Market by Technology, Deployment, Offering, End-Use, Application

List of Tables

The Quantum Computing Market was valued at USD 1.23 billion in 2023, expected to reach USD 1.51 billion in 2024, and is projected to grow at a CAGR of 23.91%, to USD 5.55 billion by 2030.

Quantum computing represents a groundbreaking shift in computational capabilities, utilizing quantum bits (qubits) to perform operations at speeds unattainable by classical computers. Defined by its ability to solve complex problems through superposition and entanglement, its scope covers diverse fields including cryptography, material science, and optimization problems in logistics. The necessity for quantum computing arises from the increasing complexity of big data analytics, advancements in AI, and cybersecurity demands that challenge existing computational frameworks. Its applications span sectors like pharmaceuticals, where it expedites drug discovery, to finance for enhanced risk analysis. End-use industries are diversifying, with notable interest from technology firms, government agencies, and research institutions. Market growth is influenced by heightened R&D activity, increasing investments from tech giants like IBM, Google, and startups, alongside evolving consumer demands for faster, more efficient solutions. Latest opportunities lie in developing quantum software, algorithms, and hybrid systems combining classical and quantum methods. To leverage these, companies should form strategic partnerships, invest in talent acquisition, and focus on patent developments to secure competitive advantages. However, the market faces significant limitations, such as high operational costs, technical challenges in qubit stability and error correction, and regulatory uncertainties that could impede rapid adoption. Further, the complex nature of quantum systems requires specialized knowledge, which limits workforce availability and raises significant entry barriers. Innovations in qubit technology, error minimization, and quantum cryptography present promising research avenues. Moreover, areas like quantum cloud computing services are ripe for exploration and can drive business growth by democratizing access to quantum capabilities. The nature of the quantum computing market is dynamic and poised for transformative impact, demanding agile strategies from businesses to keep pace with its rapid evolution and capture emerging opportunities effectively.

KEY MARKET STATISTICS
Base Year [2023]	USD 1.23 billion
Estimated Year [2024]	USD 1.51 billion
Forecast Year [2030]	USD 5.55 billion
CAGR (%)	23.91%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Quantum Computing Market

The Quantum Computing Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Growing Demand for Faster Data Operations, Secure Data Transfer, and Communications
- Early Adoption of Quantum Computing in Banking And Finance Industry
- Rise in Investments in Quantum Computing Technology
Market Restraints
- Dearth of Skilled Professional Coupled With Need For High Accuracy
Market Opportunities
- Market Instabilities Detected by Identifying Stock Market Risks and Optimize The Trading Trajectories, Portfolios, and Asset Pricing And Hedging
- Surge in Number of Strategic Partnerships and Collaborations to Carry out Advancements in Quantum Computing Technology
Market Challenges
- Highly Investment Intensive Process

Porter's Five Forces: A Strategic Tool for Navigating the Quantum Computing Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Quantum Computing Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Quantum Computing Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Quantum Computing Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Quantum Computing Market

A detailed market share analysis in the Quantum Computing Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Quantum Computing Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Quantum Computing Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Key Company Profiles

The report delves into recent significant developments in the Quantum Computing Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Alibaba Group Holding Limited, Fujitsu Limited, Zapata Computing, Inc., Quantum Corporation, Atom Computing, Inc., 1QB Information Technologies Inc., D-Wave Systems Inc., Silicon Quantum Computing, Intel Corporation, Xanadu Quantum Technologies Inc., Microsoft Corporation, Salesforce, Inc., Quantum Circuits, Inc., Google LLC by Alphabet Inc., QC Ware, Quantum Simulation Technologies, Inc., Nvidia Corporation, Honeywell International Inc., Baidu, Inc., Arqit Limited, PsiQuantum, Corp., Anyon Systems, Inc., Riverlane Ltd, Rigetti & Co, Inc., ColdQuanta, Inc., ISARA Corporation, Atos SE, Cisco Systems, Inc., International Business Machines Corporation, Toshiba Corporation, Quantinuum Ltd., IonQ Inc., Amazon Web Services, Inc., and Strangeworks Inc..

Market Segmentation & Coverage

This research report categorizes the Quantum Computing Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Technology, market is studied across Quantum Annealing, Superconducting Qubits, Topological and Photonic, and Trapped Ions.
Based on Deployment, market is studied across Cloud-Based and On Premise.
Based on Offering, market is studied across Consulting, Quantum Computing as a Service (QCaaS), Services, and Systems.
Based on End-Use, market is studied across Banking & Finance, Chemicals, Energy & Power, Healthcare & Pharmaceuticals, and Space & Defense.
Based on Application, market is studied across Machine Learning, Optimization, Quantum Chemistry, Quantum Finance, and Simulation.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-8A3707308FF5

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing Demand for Faster Data Operations, Secure Data Transfer, and Communications
  - 5.1.1.2. Early Adoption of Quantum Computing in Banking And Finance Industry
  - 5.1.1.3. Rise in Investments in Quantum Computing Technology
- 5.1.2. Restraints
  - 5.1.2.1. Dearth of Skilled Professional Coupled With Need For High Accuracy
- 5.1.3. Opportunities
  - 5.1.3.1. Market Instabilities Detected by Identifying Stock Market Risks and Optimize The Trading Trajectories, Portfolios, and Asset Pricing And Hedging
  - 5.1.3.2. Surge in Number of Strategic Partnerships and Collaborations to Carry out Advancements in Quantum Computing Technology
- 5.1.4. Challenges
  - 5.1.4.1. Highly Investment Intensive Process
5.2. Market Segmentation Analysis
- 5.2.1. Technology: Integration of advanced technology in quantum computing to tackle complex algorithms while providing optimal solution
- 5.2.2. End-Use: Adoption of quantum computing in varied industries offering accurate predictions and faster decision-making
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental
5.5. Client Customization

6. Quantum Computing Market, by Technology

6.1. Introduction
6.2. Quantum Annealing
6.3. Superconducting Qubits
6.4. Topological and Photonic
6.5. Trapped Ions

7. Quantum Computing Market, by Deployment

7.1. Introduction
7.2. Cloud-Based
7.3. On Premise

8. Quantum Computing Market, by Offering

8.1. Introduction
8.2. Consulting
8.3. Quantum Computing as a Service (QCaaS)
8.4. Services
8.5. Systems

9. Quantum Computing Market, by End-Use

9.1. Introduction
9.2. Banking & Finance
9.3. Chemicals
9.4. Energy & Power
9.5. Healthcare & Pharmaceuticals
9.6. Space & Defense

10. Quantum Computing Market, by Application

10.1. Introduction
10.2. Machine Learning
10.3. Optimization
10.4. Quantum Chemistry
10.5. Quantum Finance
10.6. Simulation

11. Americas Quantum Computing Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Quantum Computing Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Quantum Computing Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Rescale and IonQ Launch Partnership to Accelerate Innovation through Hybrid Quantum Computing
- 14.3.2. Quantinuum gets USD 300 Million from JPMorgan, Amgen, Mitsui, Honeywell
- 14.3.3. IBM Unveils Next-Gen 133-Qubit Heron Quantum Processor and its First Modular Quantum Computer

Companies Mentioned

1. Accenture PLC
2. Alibaba Group Holding Limited
3. Fujitsu Limited
4. Zapata Computing, Inc.
5. Quantum Corporation
6. Atom Computing, Inc.
7. 1QB Information Technologies Inc.
8. D-Wave Systems Inc.
9. Silicon Quantum Computing
10. Intel Corporation
11. Xanadu Quantum Technologies Inc.
12. Microsoft Corporation
13. Salesforce, Inc.
14. Quantum Circuits, Inc.
15. Google LLC by Alphabet Inc.
16. QC Ware
17. Quantum Simulation Technologies, Inc.
18. Nvidia Corporation
19. Honeywell International Inc.
20. Baidu, Inc.
21. Arqit Limited
22. PsiQuantum, Corp.
23. Anyon Systems, Inc.
24. Riverlane Ltd
25. Rigetti & Co, Inc.
26. ColdQuanta, Inc.
27. ISARA Corporation
28. Atos SE
29. Cisco Systems, Inc.
30. International Business Machines Corporation
31. Toshiba Corporation
32. Quantinuum Ltd.
33. IonQ Inc.
34. Amazon Web Services, Inc.
35. Strangeworks Inc.