Quantum Computing Market size to grow by USD 9,013.68 million from 2022 to 2027, North America to contribute 38% to the market growth - Technavio

NEW YORK, June 20, 2023 /PRNewswire/ -- The quantum computing market size is expected to grow by USD 9,013.68 million from 2022 to 2027, progressing at a CAGR of 18.84% as per the latest Technavio market research report. North America is estimated to account for 38% of the market's overall growth. A major factor influencing the market growth is the presence of a substantial number of US-based customers. For instance, a main vendor of quantum computers, D-Wave, which is headquartered in Canada, has sold quantum computing machines to major US-based clients such as Lockheed Martin, Google, NASA, and Temporal Defense Systems. Furthermore, such firms have collaborations with D-Wave to upgrade to the latest machine once it has been developed. Additionally, these clients have high economies of scale and, therefore, have the finances and resources to adopt these technologies at a much faster pace compared to other regions. Hence, such factors influence the growth of the regional market during the forecast period. For more insights on the market share of various regions- Download sample report in MINUTES

Quantum Computing Market: Increasing Expenditure by Stakeholders to drive growth

The growing utilization of quantum cryptography, which is a technique for secure code-writing and solving is a major driver for the market growth. Quantum cryptography offers the highest level of security for transmitting even the most critical data. With the advent of quantum computers, vast amounts of encrypted data can be processed at incredibly high speeds.

Moreover, quantum computing can decrypt encrypted data into plain text in a matter of seconds, while classical computers might take years to do so. The decryption process is achieved by increasing the length of keys with more bits. This provides heightened security but there is a concern that hackers may also use quantum computers to decrypt sensitive information, which has prompted many governments to invest millions of dollars in developing quantum computers with top-notch security features. Hence, such factors drive the market growth during the forecast period.

Quantum Computing Market: Growth Of AI And Machine Learning 

The growth of AI and machine learning is an emerging trend shaping market growth. AI is a branch of science, which generally deals with computers, machines, software, and computer-operated robots to think intelligently to find solutions for complex problems in a manner that is like how a human brain thinks. Also, machine learning is a type of AI that allows computers to self-learn.

Additionally, AI and machine learning will be some of the biggest applications of quantum computers, where AI requires fast processors to work, and the development of quantum computing processor chips will be used in AI applications. This is because these processors work at high speeds to compute data efficiently. Hence, such trends fuel the market growth during the forecast period.

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Some of the key Quantum Computing Market Players:

The quantum computing market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. 

Some of the key market players are1QB Information Technologies Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Anyon Systems Inc., Atos SE, D-Wave Quantum Inc., Honeywell International Inc., ID Quantique SA, International Business Machines Corp., IonQ Inc., Microsoft Corp., QC Ware, QRA Corp., Quantica Computacao, Quantinuum Ltd., Quantum Circuits Inc., Qubitekk Inc., Rigetti and Co. LLC, and Intel Corp.

Quantum Computing Market: Segmentation Analysis

This report extensively covers market segmentation by deployment (cloud and on-premise), end-user (aerospace and defense, government, IT and telecom, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa). 

• The market share growth of the cloud segment will be significant for overall market growth during the forecast period. Quantum computing on the cloud is a platform wherein firms can access quantum computing systems through a cloud network. Thus, they can reduce the need for hardware and software. Low cost of entry is a major driver for this segment. As buyers do not need to invest in the hardware, it makes it highly attractive for companies. Moreover, enterprises integrate quantum computing capabilities by using quantum computing-as-a-service through the cloud to employ data analytics that allows the firm to make business decisions. Hence, such factors influence the segment growth during the forecast period.

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The quantum dots market size is estimated to grow at a CAGR of 16.34% between 2022 and 2027. The size of the market is forecast to increase by USD 5,842.61 million. This report extensively covers market segmentation by material (cadmium-based and cadmium-free), product (displays and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The increased demand for optimized devices is notably driving market growth.

The edge computing market is estimated to grow at a CAGR of 24.74% between 2022 and 2027. The size of the market is forecasted to increase by USD 9,928.42 million. This report extensively covers market segmentation by end-user (industrial manufacturing, telecom, mobility, government, and others), component (hardware, software, services, and edge-managed platforms), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The rising demand for decentralized computing to reduce latency in decision-making is notably driving market growth.

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global quantum computing market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global quantum computing market 2017 - 2021 ($ million)

• 4.2 Deployment Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Deployment Segment 2017 - 2021 ($ million)

• 4.3 End user Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – End user Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Deployment

• 6.1 Market segments 
• Exhibit 30: Chart on Deployment - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Deployment - Market share 2022-2027 (%)

• 6.2 Comparison by Deployment 
• Exhibit 32: Chart on Comparison by Deployment
• Exhibit 33: Data Table on Comparison by Deployment

• 6.3 Cloud - Market size and forecast 2022-2027
• Exhibit 34: Chart on Cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Cloud - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Cloud - Year-over-year growth 2022-2027 (%)

• 6.4 On-premise - Market size and forecast 2022-2027
• Exhibit 38: Chart on On-premise - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on On-premise - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on On-premise - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on On-premise - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Deployment 
• Exhibit 42: Market opportunity by Deployment ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments 
• Exhibit 43: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 44: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 45: Chart on Comparison by End-user
• Exhibit 46: Data Table on Comparison by End-user

• 7.3 Aerospace and defense - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Aerospace and defense - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Aerospace and defense - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Aerospace and defense - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Aerospace and defense - Year-over-year growth 2022-2027 (%)

• 7.4 Government - Market size and forecast 2022-2027
• Exhibit 51: Chart on Government - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Government - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Government - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Government - Year-over-year growth 2022-2027 (%)

• 7.5 IT and telecom - Market size and forecast 2022-2027
• Exhibit 55: Chart on IT and telecom - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on IT and telecom - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on IT and telecom - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on IT and telecom - Year-over-year growth 2022-2027 (%)

• 7.6 Others - Market size and forecast 2022-2027
• Exhibit 59: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by End-user 
• Exhibit 63: Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

• 9.1 Market drivers 

• 9.2 Market challenges 

• 9.3 Impact of drivers and challenges 
• Exhibit 65: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends 

10 Vendor Landscape

• 10.1 Overview 

• 10.2 Vendor landscape 
• Exhibit 66: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption 
• Exhibit 67: Overview on factors of disruption

• 10.4 Industry risks 
• Exhibit 68: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered 
• Exhibit 69: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 70: Matrix on vendor position and classification

• 11.3 Alibaba Group Holding Ltd. 
• Exhibit 71: Alibaba Group Holding Ltd. - Overview
• Exhibit 72: Alibaba Group Holding Ltd. - Business segments
• Exhibit 73: Alibaba Group Holding Ltd. - Key offerings
• Exhibit 74: Alibaba Group Holding Ltd. - Segment focus

• 11.4 Alphabet Inc. 
• Exhibit 75: Alphabet Inc. - Overview
• Exhibit 76: Alphabet Inc. - Business segments
• Exhibit 77: Alphabet Inc. - Key news
• Exhibit 78: Alphabet Inc. - Key offerings
• Exhibit 79: Alphabet Inc. - Segment focus

• 11.5 Amazon.com Inc. 
• Exhibit 80: Amazon.com Inc. - Overview
• Exhibit 81: Amazon.com Inc. - Business segments
• Exhibit 82: Amazon.com Inc. - Key news
• Exhibit 83: Amazon.com Inc. - Key offerings
• Exhibit 84: Amazon.com Inc. - Segment focus

• 11.6 Atos SE 
• Exhibit 85: Atos SE - Overview
• Exhibit 86: Atos SE - Business segments
• Exhibit 87: Atos SE - Key news
• Exhibit 88: Atos SE - Key offerings
• Exhibit 89: Atos SE - Segment focus

• 11.7 D-Wave Quantum Inc. 
• Exhibit 90: D-Wave Quantum Inc. - Overview
• Exhibit 91: D-Wave Quantum Inc. - Product / Service
• Exhibit 92: D-Wave Quantum Inc. - Key news
• Exhibit 93: D-Wave Quantum Inc. - Key offerings

• 11.8 Honeywell International Inc. 
• Exhibit 94: Honeywell International Inc. - Overview
• Exhibit 95: Honeywell International Inc. - Business segments
• Exhibit 96: Honeywell International Inc. - Key news
• Exhibit 97: Honeywell International Inc. - Key offerings
• Exhibit 98: Honeywell International Inc. - Segment focus

• 11.9 ID Quantique SA 
• Exhibit 99: ID Quantique SA - Overview
• Exhibit 100: ID Quantique SA - Product / Service
• Exhibit 101: ID Quantique SA - Key offerings

• 11.10 Intel Corp. 
• Exhibit 102: Intel Corp. - Overview
• Exhibit 103: Intel Corp. - Business segments
• Exhibit 104: Intel Corp. - Key news
• Exhibit 105: Intel Corp. - Key offerings
• Exhibit 106: Intel Corp. - Segment focus

• 11.11 International Business Machines Corp.
• Exhibit 107: International Business Machines Corp. - Overview
• Exhibit 108: International Business Machines Corp. - Business segments
• Exhibit 109: International Business Machines Corp. - Key news
• Exhibit 110: International Business Machines Corp. - Key offerings
• Exhibit 111: International Business Machines Corp. - Segment focus

• 11.12 IonQ Inc. 
• Exhibit 112: IonQ Inc. - Overview
• Exhibit 113: IonQ Inc. - Product / Service
• Exhibit 114: IonQ Inc. - Key offerings

• 11.13 Microsoft Corp. 
• Exhibit 115: Microsoft Corp. - Overview
• Exhibit 116: Microsoft Corp. - Business segments
• Exhibit 117: Microsoft Corp. - Key news
• Exhibit 118: Microsoft Corp. - Key offerings
• Exhibit 119: Microsoft Corp. - Segment focus

• 11.14 QRA Corp. 
• Exhibit 120: QRA Corp. - Overview
• Exhibit 121: QRA Corp. - Product / Service
• Exhibit 122: QRA Corp. - Key offerings

• 11.15 Quantinuum Ltd. 
• Exhibit 123: Quantinuum Ltd. - Overview
• Exhibit 124: Quantinuum Ltd. - Product / Service
• Exhibit 125: Quantinuum Ltd. - Key offerings

• 11.16 Qubitekk Inc. 
• Exhibit 126: Qubitekk Inc. - Overview
• Exhibit 127: Qubitekk Inc. - Product / Service
• Exhibit 128: Qubitekk Inc. - Key news
• Exhibit 129: Qubitekk Inc. - Key offerings

• 11.17 Rigetti and Co. LLC 
• Exhibit 130: Rigetti and Co. LLC - Overview
• Exhibit 131: Rigetti and Co. LLC - Product / Service
• Exhibit 132: Rigetti and Co. LLC - Key news
• Exhibit 133: Rigetti and Co. LLC - Key offerings

12 Appendix

• 12.1 Scope of the report 

• 12.2 Inclusions and exclusions checklist
• Exhibit 134: Inclusions checklist
• Exhibit 135: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 136: Currency conversion rates for US$

• 12.4 Research methodology 
• Exhibit 137: Research methodology
• Exhibit 138: Validation techniques employed for market sizing
• Exhibit 139: Information sources

• 12.5 List of abbreviations 
• Exhibit 140: List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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