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3 Key Insights on US$ 2,000 Mn Opportunity in the Global Quantum Computing Market: Ken Research

The need for quantum computing is primarily driven by rising data center workloads, increasing preference for software-as-a-service (SaaS) business models, and increasingly complicated processor designs for traditional binary computing systems, the Global Quantum Computing Market is forecasted to reach nearly US$ 2,000 Mn by 2028 says Ken Research Study.

Quantum computing is a branch of computer science that uses quantum theory ideas. It is a cutting-edge technology that is quickly taking off that uses quantum mechanics to solve more challenging issues than classical computers can handle. In terms of speed, bits, and data, quantum computing has been employed for computation. While traditional computing only uses two bits—0 and 1—the system makes use of all possible states between 0 and 1, producing better results and processing data more quickly. The system’s primary application is to compare various solutions and choose the best one for a challenging issue.

Ken Research shares 3 key insights on this high-demand market from its latest research study.

  1. Governments are increasing their Investments in Quantum Computing Technology to Support Growth.

To encourage businesses and end users to take use of the capability of these technologies, governments around the world are investing heavily in quantum technology. Additionally, they pledge significant money to improve domestic quantum technologies.

For instance, China has made significant investments in various computing technology R&D. It has announced funding of over US$ 15 billion, which is expected to be more than all other countries combined. The governments of Australia, the United States, and the industrialized countries in the European Union are all pursuing computing-related initiatives.

According to Ken Research estimates, the Global Quantum Computing Market – valued at around US$ 200 Mn in 2017 and estimated to reach nearly US$ 500 Mn by 2022 – is expected to grow to around US$ 2000 Mn opportunity by 2028.

Global Quantum Computing Market

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  1. An Increase in Strategic Alliances will Drive Market Expansion

The industry leaders are boosting their investments in quantum technologies while also looking for appropriate alliances and partnerships to advance computing, create useful applications, and build a future quantum workforce. By using this approach, businesses can integrate the greatest aspects of their concerns and capabilities with those of other well-known partners and technologies. This will enable businesses to produce superior solutions quickly and at scale.

To improve their quantum capabilities, several, including Riverlane, Google LLC, and Pasqal, are working with quantum professionals all across the world. For example, Riverlane and Rigetti Computing teamed together in June 2022 to work on syndrome extraction using superconducting quantum computers. Similar to this, Pasqal and Qu&Co agreed to merge into a single business in January 2022 that will operate under the Pasqal name and have its headquarters in Paris.

Global Quantum Computing Industry

  1. Lack of skilled professionals is hampering the market growth

Quantum computing is an innovative and promising technology. A group of experts with the necessary technical knowledge is needed for the deployment of this technology. As a result, the sector players face a substantial issue in hiring professionals with the necessary skill set. To address the problem of a shortage of qualified specialists, governments from many nations and quantum computer manufacturers plan to launch training programs. For instance, D-Wave Systems Inc. offers training materials to its clients so they are aware of how quantum computers work.

However, the price of such modules poses a significant obstacle for companies looking to teach their staff. Furthermore, these components are complicated, it takes time and effort to understand them. Therefore, quantum computer producers must lower their profit margins by making additional investments in various post-sales operations.

Worldwide Quantum Computing Market

Key Topics Covered in the Report: –

Snapshot of the Global Quantum Computing Market

Industry Value Chain and Ecosystem Analysis

Market size and Segmentation of the Global Quantum Computing Market

Historic Growth of the Overall Global Quantum Computing Market and Segments

Competition Scenario of the Market and Key Developments of Competitors

Porter’s 5 Forces Analysis of the Global Quantum Computing Industry

Overview, Type Offerings, and Strengths & Weaknesses of Key Competitors

COVID-19 Impact on the Overall Global Quantum Computing Market

Future Market Forecast and Growth Rates of the Total Global Quantum Computing Market and by Segments

Market Size of End-user Segments with Historical CAGR and Future Forecasts

Analysis of Global Quantum Computing in Major Regions

Major Type/Supply and Consumption/Demand Hubs within Each Region

Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments

Overview of Notable Emerging Competitor Companies within Each Major Region

Major Players Mentioned in the Report

Intel Corporation

Atos SE

IBM Corporation

Quantum Circuits, Inc.

Microsoft Corporation

Google

Accenture

Toshiba Corporation

Hitachi Ltd

Huawei

Notable Emerging Companies Mentioned in the Report

Zapata Computing, Inc.

Strangeworks, Inc.

Magiq Technologies Inc.

Qxbranch, LLC

Honeywell Inc.

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

Quantum Computing Companies

Quantum Computing Association

Cloud Server Manufacturers

Networking Equipment Manufacturers

Research & Development Institutes for Quantum Computing

Quantum Computing Systems Manufacturers

Technology Research Associations

Quantum Computing Solution Suppliers

Quantum Computing Component Providers

Investment Banks Targeting Quantum Computing Market

PE and VC Firms Targeting Quantum Computing Industry

Government Ministries and Departments of Information Technology

Government Ministries and Departments of Communications Industry

Potential Entrants into Quantum Computing Industry

For more insights on the market intelligence, refer to the link below: –

Global Quantum Computing Market Analysis

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