Global Quantum Computing Market 2017-2021
About Quantum Computing
Quantum computing is a technology that applies the laws of quantum mechanics to computational ability. It includes three states, namely 1, 0 as well as the superposition of 1 and 0. Superposition indicates that two states exist at the same time. These bits are known as quantum bits or qubits. The global quantum computing market consists of the hardware that is required to develop quantum computers and its peripherals.
Technavio’s analysts forecast the global quantum computing market to grow at a CAGR of 35.12% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global quantum computing market for 2017-2021. To calculate the market size, the report considers the revenue generated from sales of quantum computers only.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Quantum Computing Market 2017-2021
Technavio recognizes the following companies as the key players in the global quantum computing market: D-Wave Systems, Google, IBM, Intel, and Microsoft.
Other Prominent Vendors in the market are: 1QB Information Technologies, Anyon Systems, Cambridge Quantum Computing, ID Quantique, IonQ, QbitLogic, QC Ware, Quantum Circuits, Qubitekk, QxBranch, and Rigetti Computing.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growth of AI and machine learning. AI is a branch of science that 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. AI is applied to the projects that require a human's intellectual processes such as the ability to reason, derive conclusions from the past, and generalize certain learnings. Machine learning is a type of AI that allows computers to self-learn. When a computer is exposed to new data, it can analyze it, make decisions, grow, and learn from this data.”
According to the report, one of the major drivers for this market is increasing expenditure by stakeholders. There are different stakeholders in the market, namely governments and private enterprises, that have shown an increasing interest in quantum computing. Quantum computing will have potential applications in a variety of sectors such as aerospace and defense, civil aviation, cybersecurity, finance, healthcare, and logistics. The potential applications have compelled governments and companies to focus on developing quantum computers and related technologies. The investments by these stakeholders drive the global quantum computing market.
Further, the report states that one of the major factors hindering the growth of this market is quantum decoherence. Quantum decoherence is one of the major challenges that is faced by quantum computing firms. This is a process wherein a quantum state tends to become a classical computing bit. Any outside interference can lead to the destruction of the quantum state, which will make the bit transition into either a 0 or a 1 state. Outside interferences include heat, internal defects, and vibrations. This results in the loss of information that the qubits hold to the surroundings. Researchers are focusing on preserving superposition, which is the basis of quantum computing by delaying decoherence.
D-Wave Systems, Google, IBM, Intel, and Microsoft. Other Prominent Vendors in the market are: 1QB Information Technologies, Anyon Systems, Cambridge Quantum Computing, ID Quantique, IonQ, QbitLogic, QC Ware, Quantum Circuits, Qubitekk, QxBranch, and Rigetti Computing.