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​Enterprise Quantum Computing Market Estimated to Reach value of USD 2-3 billion by 2023

North America Leads the Global Enterprise Quantum Computing Market.
The global enterprise quantum computing market is witnessing considerable growth. Increasing implementation of machine learning and quantum computers in order to recognize objects by detecting recurring patterns attributes to the growth of the market.

Press release from Market Research Future
August 8th 2019 | 187 readers

Photo by Tuesday Temptation on Unsplash
Photo by Tuesday Temptation on Unsplash
According to Market Research Future (MRFR), the global enterprise quantum computing market would reach approximately USD 2.5 BN by 2023. MRFR confirms that the market would grow at a whopping CAGR, around 34% throughout the forecast period (2018–2023).

Rising awareness about quantum computing is increasing the adoption of these solutions in sectors such as BFSI, defense, and automotive. Moreover, increasing the rate of cyber crimes and the stringency of government initiatives in developing quantum computing technology are some of the other major driving force behind the growth of the market. Several research institutes and scientists are carrying out research programs to understand the practical capacity of quantum computers truly.

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On the other hand, complexity in implementation is a major factor expected to impede the growth of the market in the coming years. Also, compatibility issues within low-temperature requirements and the use of quantum entanglement during network communication are posing challenges to market growth. Nevertheless, developments in artificial intelligence and big data analytics is expected to support market growth, offering various growth opportunities.

Key Players:

Players leading the Enterprise Quantum Computing Market include Intel Corporation, QRA Corp, D-Wave Systems Inc, Computing Ltd, Cambridge Quantum, QC Ware Corp., QxBranch, Inc., Rigetti & Co, Inc., IBM Corporation, Quantum Circuits, Inc., Google LLC, Microsoft Corporation, Atos SE, and Cisco Systems, among others.

Enterprise Quantum Computing Market   - Segments

The report is segmented into six key market dynamics to widen the scope of understanding,

By Component: Hardware, Software, and Services.

By Deployment: On-premise, On-cloud, and Hybrid.

By Technique: Simulation, Superconducting, and Quantum Annealing, among others.

By Application: Advanced Cryptography, Data Analytics, Pattern Recognition, Medical Research, Automation, and Optimization, among others.

By End-user: Aerospace & Defense, Automotive, IT &Telecommunication, BFSI, Medical, Chemical, Transportation, and Energy & Power, among others.

By Regions: Asia Pacific,North America, Europe, and the Rest-of-the-World.

Mapping the Global Market:

North America would retain its dominance over the global enterprise quantum computing market throughout the forecast period. The presence of technology leaders such as IBM Corporation, Google, and Intel is contributing to the growth of the market. Factors such as usages of quantum computers by government agencies and aerospace & defense for machine learning are increasing investments for research and development of quantum computing technology. The US, among other North American countries, currently holds the highest market share in the regional enterprise quantum computing market.

The enterprise quantum computing market holds the second biggest share in the global market. Substantial investments by companies as well as governments in the region, especially the UK, are expected to drive the market growth in Europe. Multiple initiatives by governments in various countries in this region are positively impacting the growth of the market. The presence of significant players such as Cambridge Quantum Computing Ltd has facilitated the development of quantum technology in the region.

The Asia Pacific enterprise quantum computing market is a promising market expected to show positive growth over the review period. Major developments on quantum computing technology are largely carried out in countries such as China and South Korea. Owing to factors such as the wide adoption of quantum computers by the BFSI sector in APAC countries like China, Japan, and others, the regional market has seen a sudden hike. Countries witnessing the use of quantum computers for optimization of tasks would show huge growth in enterprise quantum computing market by the forecast period.

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