Global $1.6 Billion Quantum Computing Technologies and Markets to 2026 – PRNewswire

DUBLIN, Feb. 10, 2022 /PRNewswire/ -- The "Quantum Computing: Technologies and Global Markets to 2026" report has been added to ResearchAndMarkets.com's offering.

The global quantum computing technologies market should reach $1.6 billion by 2026 from $390.7 million in 2021 at a compound annual growth rate (CAGR) of 33.2% for the forecast period of 2021 to 2026.

Report Scope

This report provides an overview of the global market for quantum computing and analyzes market trends. Using 2020 as the base year, the report provides estimated market data for the forecast period 2021 through 2026. Revenue forecasts for this period are segmented based on offering, deployment, technology, application, end-user industry and region.

Quantum computing is the gateway to the future. It can revolutionize computation by making certain types of classically stubborn problems solvable. Currently, no quantum computer is mature enough to perform calculations that traditional computers cannot, but great progress has been made in the last few years. Several large and small start-ups are using non-error-corrected quantum computers made up of dozens of qubits, some of which are even publicly accessible via the cloud. Quantum computing helps scientists accelerate their discoveries in related areas, such as machine learning and artificial intelligence.

Early adoption of quantum computers in the banking and financial industries, increased investment in quantum computing technology, and the rise of numerous strategic partnerships and collaborations are the main drivers behind the market growth.

The trend towards strategic approaches such as partnerships and collaborations is expected to continue. As quantum computer vendors move to quantum development, the consumer industries will seek to adopt current and new quantum technologies to gain a competitive advantage. The technological hurdles in the implementation of the quantum systems, as well as the lack of quantum skills, can limit the market growth. However, increasing adoption of quantum technology in healthcare, increasing demand for computing power, and the introduction of cloud-based quantum computing services are expected to open up new market opportunities during the forecast period.

Between 2021 and 2026, many companies with optimization problems may adopt a hybrid approach where some of the problems are handled by classical computing and the rest by quantum computers. The demand for quantum computers is expected to grow from multiple end-user industries, from finance to pharmaceuticals, automobiles to aerospace. Many industries, such as banks, are now using cloud-based quantum services.

There is no doubt that quantum computers will be expensive machines to develop and will be operated by a small number of key players. Companies like Google and IBM plan to double the performance of quantum computers each year. In addition, a small but important cohort of promising start-ups is steadily increasing the number of qubits a computer can process. This creates an immersive opportunity for the global quantum computing market growth in the coming years.

This report has divided the global quantum computing market based on offering, technology, deployment, application, end-user industry, and region. Based on offering, the market is segmented into systems and services. The services memory segment held the largest market share, and it is expected to register the highest CAGR during the forecast period. The services segment includes quantum computing as a service (QCaaS) and consulting services.

The report also focuses on the major trends and challenges that affect the market and the competitive landscape. It explains the current market trends and provides detailed profiles of the major players and the strategies they adopt to enhance their market presence. The report estimates the size of the global quantum computing market in 2020 and provides projections of the expected market size through 2026.

Competitive Landscape

Company profiles of the key industry players include

Patent Analysis

For more information about this report visit https://www.researchandmarkets.com/r/o1td8j

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Global $1.6 Billion Quantum Computing Technologies and Markets to 2026 - PRNewswire