Farmington, Feb. 19, 2023 (GLOBE NEWSWIRE) -- The Global Quantum Computing Market Size was exhibited at USD 10.13 Billion in 2022 and is expected to surpass around USD 125 Billion by 2030, poised to grow at a projected CAGR of 36.89% during the forecast period 2023 to 2030. Quantum computing is the part of computer science that uses quantum theory's ideas. It is a new, advanced technology that is growing quickly. It uses the rules of quantum mechanics to help classical computers solve problems that are harder for them to solve. Based on ideas from quantum physics, quantum computers have been used to do math. In terms of speed, bits, and data, it is different from traditional computing. Classical computing only uses two bits, 0 and 1, but this system uses all of the states between 0 and 1, which makes it better and faster. The system is mostly used to compare different solutions to a complicated problem and find the best one.
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Quantum Computing Market Recent Developments:
- September 2022 – Quix Quantum signs a contract with the German Aerospace Center to deliver 64- and 8-qubit universal quantum computers. These systems are based on photonics integrating conventional technology in processors with feedforward, source and detector.
- September 2022 – Alpine Quantum Technologies GmbH presents Beech, a fully digital, rack-compatible laser stabilization module for up to four different wavelengths.
- June 2022 - ORCA Computing is working with the UK Ministry of Defense (MoD) to improve future data processing capabilities. The company will use ORCA's PT-1 model, which is the first model that is based on a local computer and can operate at room temperature.
- March 2022 - Quix Quantum launches a photon processor developed in the company's factory. Almost double the performance of current generation processors. The processor has a record number of modes (20) and the highest operating specifications.
Quantum Computing Market Dynamics:
Space and defence agencies around the world are investing more and more in the development of quantum computing technologies so that quantum computers can be used to implement different optimization and simulation strategies. Governments all over the world are putting a lot of money into helping their research institutions develop technologies for quantum computing. China is putting a lot of money into research and development for quantum computing technologies. Quantum computing is being worked on by the governments of the United States, Australia, and some countries in the European Union. For example, in August 2017, the Commonwealth Bank (CBA), Telstra, the federal government, the New South Wales government, and the University of New South Wales (UNSW) invested $83 million to start the first quantum computing company in Australia. In the coming years, these projects are expected to increase the use of quantum computing technology and make it useful in more situations.
Regional Outlook:
The North American market has grown a lot because it is very competitive and people there have been quick to adopt new technologies. The number of countries in the region that are ready to use the cloud and the number of end users who are ready to build advanced services are both good signs for the growth of the North American market as a whole.
Europe is expected to grow a lot because more and more new businesses in the area are using the technology. Also, digital government regulations and initiatives, as well as the growing use of cloud-based technologies in the region, are expected to drive market growth and technological advances. In Europe, people will use the cloud 5% more in 2021 than they did in 2020. Because of these things, the region is likely to have healthy market growth in the years to come.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 36.89% from 2023 to 2030 |
| Market Size in 2022 | USD 10.13 Billion |
| Revenue Forecast by 2030 | USD 125 Billion |
| By Type | Hardware, Software, Services, Other |
| By Applications | Defense, Healthcare & pharmaceuticals, Chemicals, Banking & finance, Energy & power, Other |
| By Companies | D-Wave Systems, Google, IBM, Intel, Microsoft, 1QB Information Technologies, Anyon Systems, Cambridge Quantum Computing, ID Quantique, IonQ, QbitLogic, QC Ware, Quantum Circuits, Qubitekk, QxBranch, Rigetti Computing, and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Quantum Computing Market Key Segments Covered:
Top Market Players:
D-Wave Systems, Google, IBM, Intel, Microsoft, 1QB Information Technologies, Anyon Systems, Cambridge Quantum Computing, ID Quantique, IonQ, QbitLogic, QC Ware, Quantum Circuits, Qubitekk, QxBranch, Rigetti Computing, and Others.
By Types:
- Hardware
- Software
- Services
- Other
By Applications:
- Defense
- Healthcare & pharmaceuticals
- Chemicals
- Banking & finance
- Energy & power
- Other
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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