Quantum Computing Market 2021 Objectives of the Study, Research Methodology and Assumptions, Value Chain Analysis and Forecast by 2028


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Shibuya Data Count

Jan 17, 2022, 00:12 EST


Shibuya-ku, Tokyo, Japan, Japan, Jan 17, 2022, 00:12 /Comserve / -- The global quantum computing market is estimated to generate a revenue of $667.3 million by 2027, increasing from $88.2 million in 2019, at a healthy CAGR of 30.0%.

Impact Analysis of COVID-19 on the Quantum Computing Market

The outbreak of the COVID-19 pandemic has created a positive impact on the global market for quantum computing services. The quantum computing platform has the potential to define biomolecule interaction, which can tackle infectious agents such as viruses and it is the best way to model the problems on quantum computing. Researchers believe that this method could be more economical and faster than the current methods used for drug discovery. For instance, in November 2020, Japan's Kyocera Corp., Sigma-i Co., and Denso Corp., made a strategic alliance with D-Wave Systems Inc. This collaboration is predicted to boost the development of breakthroughs in many sectors, such as healthcare, for discovering a new drug for the novel Coronavirus. These elements are creating a positive impact on the global quantum computing market, during the forecast period.

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Notable players are implementing various strategies for the development of quantum computing to discover possible COVID-19 treatments. For instance, as per a newsletter published in May 2020, a group of researchers at Penn State College of Engineering is working on quantum machine learning to discover possible treatments for COVID-19. Considering these factors, the global quantum computing market may have significant market opportunities in the upcoming years.

Quantum Computing Market Analysis:

The exponential growth of the quantum computing market is mainly attributed to extensively increasing cyber-attacks. In recent years, cybersecurity has seen enormous growth worldwide and quantum computing is one of the advanced platforms that offers security to applications and software systems and keeps them protected from cyber-attacks like phishing attacks, ransomware, and others. In addition to this, certain organizations across the globe are following effective strategies to stay protected from the cyber vulnerabilities by using quantum computing platform. For instance, in November 2020, Communique Laboratory Inc., notable player in quantum-safe cryptographic system has teamed up with PwC, one of the topmost professional services ventures, to implement post-quantum cryptography technology and related services to its customers, for excellent cybersecurity. All these factors are expected to foster the growth of the global quantum computing market, throughout the forecast period.

However, lack of highly skilled employees is expected to restrain the demand for quantum computing services, which will eventually decrease the growth of the global market, during the projected period.

The quantum computing industry is increasing at a fast pace owing to the enormously growing adoption of quantum computing technologies in agriculture. Quantum computing platform has massive potential to help farmers along with global food producers to make precise long-term large-scale production plans and offer details to enhance efficiency and yield. Moreover, global quantum computing companies are offering more enhanced and efficient software and service platforms such as free softwares to attract more customers. This increased adoption towards the quantum computing services may create massive opportunities, in the coming years.
Based on the offerings type, the global quantum computing market is mainly classified into consulting solutions and systems. The consulting solutions type will have rapid market growth and it is expected to register a revenue of $354.0 million by 2027, increasing from $37.1 million in 2019. On the other hand, the systems sub-segment type will have a massive share in the global market and is estimated to generate a revenue of $313.3 million, during the forecast years.

On the basis of application, the global quantum computing market is categorized into optimization, machine learning and material simulation. The machine learning sub-segment of the global quantum computing market shall have a significant and fastest share and it is expected to cross $ 236.9 million by 2027, with a rise from $29.7 million in 2019 during the forecast period.

Depending on end-user, the global market is classified into space and defence, automotive, healthcare, banking and finance, chemicals and energy and power. The banking and finance sub-segment for quantum computing market will have rapid growth and it is predicted to generate a revenue of $159.2 million by 2027, during the forecast period.

The Asia-Pacific quantum computing market was valued at $18.1 million in 2019 and is expected to generate a revenue of $150.3 million by 2027. Europe quantum computing market share is expected to surge at a growth rate of 30.7% by generating revenue of $221.2 million by 2027.

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Some of the key players involved quantum computing market include D-Wave Systems Inc., Anyon, International Business Machines Corporation, Cambridge Quantum Computing Limited, 1QB Information Technologies, QC Ware, Corp., StationQ – Microsoft, Rigetti Computing, Google Inc. and River Lane Research.

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.


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