Quantum Computing Market – Overview
Quantum Computing is the area where quantum physics meets basic computing. And not where you use computing to define or understand quantum physics, but where you use quantum physics to do computing. Quantum Computing is an entirely different architecture than classical computing. It uses properties of the quantum world to represent information and do processing on this information. People have been theorizing about Quantum Computing since at least 1980. But it was in the 1990s that significant progress was made.
Quantum Computing is the area of study focused on developing computer technology based on the principles of quantum theory, which explains the nature and behavior of energy and matter on the quantum (atomic and subatomic) level. A Quantum computer follows the laws of quantum physics via which it can gain enormous power, have the ability to be in multiple states and perform tasks using all possible permutations simultaneously. A classical computer works on the principle of Boolean algebra operating with a 7-mode logic gate principle, whereas a quantum computer can work with a 2-mode logic gate. In a quantum computer, a number of elemental particles such as electrons or photons can be used, with either their charge or polarization acting as a representation of 0 and/or 1. Each of these particles is known as a quantum bit, or qubit, the nature and behavior of these particles form the basis of quantum computing.
According to a recent study report published by the Market Research Future, The global market of Quantum Computing market is expected to grow at USD ~2,464 million by 2022, at ~24% of CAGR between 2016 and 2022.
The study indicates that the major driving factor for the Quantum Computing market is the increasing implementation of machine learning by quantum computers in order to recognize objects by detecting recurring patterns. It has been observed that over the recent past several research institutes along with scientists are carrying out research programs to truly understand the practical capacity of quantum computers.
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Additionally, factors such as increasing demand for secure communication, role of quantum mechanics in optimizing problems and sampling, use of quantum computing in photonic integrated circuits, role of Quantum computing in machine learning and Artificial Intelligence, use of Quantum cryptography for secure mobile transactions and impact of Quantum Computing on Artificial Intelligence are providing impetus to the market growth of Quantum Computing market. On the other hand, high-cost associated with infrastructure and hardware used in quantum computing is the primary restraint factor for the growth of Quantum Computing market.
Quantum Computing Market – Key Players
Quantum Computing market appears to be highly competitive and fragmented due to the presence of a numerous large and small players operating in the market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. The study indicates large investments by multinational companies and startup emerging. The market demonstrates high growth prospect which is turn attracting several new entrants to the market which is apparently anticipated to intensify the market competition.
Profiled in MRFR Analysis some of the prominent players in the Quantum Computing market are – D-Wave Systems Inc. (Canada), International Business Machines Corporation (U.S.), Lockheed Martin Corporation (U.S.), Intel Corporation (U.S.), Anyon Systems Inc. (Canada), Cambridge Quantum Computing Limited (U.K.), QC Ware, Corp. (U.S.), Rigetti Computing (U.S.), QxBranch (U.S.) among others.
Quantum Computing Market – Segments
Quantum Computing Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Application: Comprises Optimization, Machine Learning and Simulation.
Segmentation By Vertical: Comprises BFSI, IT and Telecommunication, Healthcare, Transportation, Government, Aerospace & Defense, and others.
Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Quantum Computing Market – Synopsis
Quantum computing does have a drawback though. Quantum physics is not a precise science; it is all based on probabilities. So the solution given by a quantum computer to the pizza delivery guy will not be a definite shortest route only the most likely shortest route. However when dealing with complex problems most of the time it is adequate for us to have a fast and good answer, it’s not required to have the absolute certain perfect answer.
By employing quantum computers we will be able to calculate things like the weather or the outcome of government policies. I can imagine it will also be able to help solving engineering problems that have infinite number of possible solutions.
Quantum Computing Market – Regional Analysis
The regional analysis of Quantum Computing market is being studied for region such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America would dominate the Quantum Computing market owing to factors such as usage of quantum computers by government agencies and aerospace & defense for machine learning. The study indicates that Europe has the second biggest market share in the Quantum Computing market.
Asia Pacific Quantum Computing Market is expected to show a positive growth over the forecast period owing to factors such as wide adoption of quantum computers by BFSI sector. In Asia-Pacific countries like China, Japan and others are making use of quantum computers for optimization of tasks due to which the study reveals that these countries would show a sudden hike in Quantum Computing market by the forecast period.
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