The Quantum Computing Market is projected to reach USD 6.96 billion by 2033, up from USD 0.61 billion in 2023, reflecting a compound annual growth rate (CAGR) of 31.36% over this period. Quantum computing is a specialized field that utilizes principles of quantum mechanics to perform computational tasks. Unlike classical computing, which uses bits to represent either 0 or 1, quantum computing employs quantum bits, or qubits, that can exist in multiple states simultaneously and can be entangled with other qubits. This enables quantum computers to execute certain computations much faster than classical computers, especially for problems involving complex calculations or extensive exploration of multiple possibilities at once. Quantum computing has the potential to revolutionize various fields, including cryptography, optimization, simulation, and machine learning, by offering novel algorithms and computational power that surpass the capabilities of classical computing systems.
The latest research report by Evolve Business Intelligence explores the various factors influencing the global market. It includes an analysis of the current market size, forecasts for key segments and regions, and the driving forces behind market growth. The report examines the potential impacts of key trends on business strategies and provides a SWOT analysis of critical sectors for each major competitor and customer group. This valuable data highlights the conglomerates likely to impact the industry, crucial for any company planning to invest strategically over the next five years. These insights complement our initial quantitative study, aiding in new investments and strategic planning to mitigate threats in existing sectors.
Segments covered
By Offering (On-Premises, Cloud-Based)
By Technology (Trapped Ions, Quantum Annealing, Superconducting Qubits, Others)
By Application (Optimization, Simulation, Machine Learning, Others)
By End User (Banking & Finance, Space and Defense, Healthcare and Pharmaceuticals, Chemicals, Energy and Power, Transportation and Logistics, Academic, Government)
Key players
IBM
Google LLC
Microsoft Corporation
D-Wave Systems Inc
Rigetti Computing
IonQ Inc
Honeywell International Inc
Q-CTRL
Quantum Circuits Inc
Zapata Computing Inc
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