Wilmington, Delaware, United States, June 27, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global quantum processing units (QPU) market is slated to register astronomical growth, registering a CAGR of 41.7% from 2023 to 2031. By the end of the aforementioned forecast period, the market is poised to reach a valuation of US$ 13.1 billion.
A quantum processing unit (QPU) is a real-world or simulated processor with a collection of linked qubits that can be used to manipulate quantum algorithms. It serves as the brain of a quantum computer or simulator.
QPU offers significant advantages while executing certain tasks such as simulating quantum systems and tackling complex optimization problems. However, large-scale qubits and superior QPUs are necessary to reap these advantages. Therefore, study and development of high-performance QPU is one of the crucial objectives of quantum computing.
Quantum computing, AI, and hybrid cloud technologies are used to detect tumors at an early stage and enhance the development of targeted drugs, thus leading to notable advancements in the field of pharmacology. These systems facilitate the swift identification of alterations and abnormalities by enabling clinicians to conveniently review CT scans over time.
In March 2023, IBM installed an on-site IBM-managed quantum computer at Cleveland Clinic in the United States. It was installed for healthcare research to help Cleveland Clinic accelerate biomedical discoveries. Hence, increase in usage of quantum computing and other advanced computing technologies is expected to spur the Quantum Processing Units (QPU) market growth in the near future.
To Remain Ahead of Your Competitors, Request for a Sample: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=85086
Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 614.9 Mn | |
| Estimated Value | US$ 13.1 Bn | |
| Growth Rate - CAGR | 41.7% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 189 Pages | |
| Market Segmentation | Offering, Technology, Application, Industry Vertical | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Accenture plc, Amazon Web Services, Inc., D-Wave Quantum Inc., Fujitsu Limited, Intel Corporation, International Business Machines Corporation, Microsoft Corporation, NVIDIA Corporation, QuantWare, Rigetti Computing, Inc., Toshiba Digital Solutions Corporation | |
Key Takeaways from the Market Study
- The global quantum processing unit market was valued at US$ 614.9 million in 2022
- As of 2023, a valuation of US$ 863.8 million has been expected for the market, experiencing a Y-o-Y growth of nearly 40.5%
- By offering, quantum processing unit hardware is expected to be most demanded, expected to rise at a 41.9% CAGR
- By technology, superconducting processes are expected to remain at the top, rising at a CAGR of 42.5%
- QPUs are likely to be most extensively used in the automotive & transportation industry
Prominent Drivers of the Quantum Processing Units (QPU) Market
- Quantum computing is a quickly developing technology that offers a practical solution to issues that even the most powerful supercomputers of the present day cannot solve. Researchers can find novel drugs and therapies faster with access to these new computational areas.
- Quantum computing, AI, and hybrid cloud technologies are applied in biomedical research with diverse objectives, including the exploration of genome sequencing discoveries and extensive databases of drug targets. These cutting-edge tools enable the identification of potential therapeutic interventions from existing medications
- Quantum computing possesses immense potential to address computational complexities in aircraft modeling, simulation, and related domains. It can help determine the optimal fuel quantity and speed required to operate commercial aircraft, thus potentially contributing to the industry's efforts to enhance sustainability and performance.
Buy this Premium Research Report | Immediate Delivery Available - https://www.transparencymarketresearch.com/checkout.php?rep_id=85086<ype=S
Quantum Processing Units (QPU) Market- Regional Profile
- North America is estimated to constitute a significant share from 2023 to 2031. The region accounted for a 41.2% share in 2022. The United States is a key market for quantum processing units. The rise in adoption of quantum computing in aerospace, healthcare, environmental monitoring, and financial sectors is fuelling the market dynamics in North America.
- The United States aerospace sector is growing rapidly and generated around US$ 391.0 billion in revenue, which represented 1.7% of total nominal GDP, in 2021. Furthermore, the aerospace and defense supply chain accounts for more than 57% of employment opportunities. Additionally, in 2021, NASA's investments in climate change research and technology contributed to a total economic output of over US$ 7.4 billion nationwide. Thus, an increase in the utilization of QPUs in various aviation and space applications is propelling market expansion in North America.
Competitive Landscape
Prominent quantum processing unit providers as profiled by Transparency Market Research include:
- Accenture plc
- Amazon Web Services, Inc.
- D-Wave Quantum Inc.
- Fujitsu Limited
- Intel Corporation
- International Business Machines Corporation
- Microsoft Corporation
- NVIDIA Corporation
- QuantWare
- Rigetti Computing, Inc.
- Toshiba Digital Solutions Corporation
- HCL Technologies
Key Market Developments
- In June 2023, Quantum Machines (QM), a provider of quantum control solutions, and QuantWare, a provider of superconducting quantum processors (QPUs), announced a partnership to offer pre-integrated control and QPU solutions to various companies and researchers. Through this partnership, QuantWare will use QM’s control system OPX+ for its lab infrastructure, while QM will employ QuantWare’s QPUs to build a quantum computer.
- In March 2023, HCL Technologies collaborated with Microsoft Corporation to offer cloud-based quantum computing services to businesses using Microsoft’s platform as a technology stack. Through this partnership, HCL Technologies’ Q-Labs will demonstrate proof-of-concept (PoC) business use cases to its customers.
Get Customization on this Report for Specific Research Solutions: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=85086
Key Segments Covered
Offering
- Hardware
- Quantum Chipsets
- Host Processors
- Others (QRAM, Electronic Wiring, etc.)
- Software
- Services
Technology
- Trapped Ions
- Superconducting Processors
- Photonic Processors
- Others (Neutral Atom Processors, Quantum Annealers, etc.)
Application
- Factory Automation
- Material Science
- Environment Monitoring
- Cybersecurity
- Others (Financial Modeling, Drug Development, etc.)
Industry Vertical
- Logistics
- Automotive & Transportation
- Industrial
- Chemicals
- Environment
- BFSI
- Others (Research and Academia, Healthcare, Oil & Gas, etc.)
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
