New York, USA, Dec. 22, 2020 (GLOBE NEWSWIRE) — A latest report published by Research Dive on the global quantum computing market sheds light on the current outlook and future growth of the market. As per the report, the global quantum computing market is expected to garner $667.3 million by growing at a CAGR of 30.0% from 2020 to 2027. This report is drafted by market experts by evaluating all the important aspects of the market. It is a perfect source of information and statistics for new entrants, market players, shareholders, stakeholders, investors, etc.
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The report includes:
• A summary of the market with its definition, advantages, and application areas.
• Detailed insights on market position, dynamics, statistics, growth rate, revenues, market shares, and future predictions.
• Key market segments, boomers, restraints, and investment opportunities.
• Present situation of the global as well as regional market from the viewpoint of companies, countries, and end industries.
• Information on leading companies, current market trends and developments, Porter Five Analysis, and top winning business strategies.
Factors Impacting the Market Growth:
As per the report, the growing cyber-attacks across the world is hugely contributing to the growth of the global quantum computing market. Moreover, the rising implementation of quantum computing technologies in agriculture for helping farmers to improve the efficiency and yield of crops is likely to unlock rewarding opportunities for the market growth. However, absence of highly experienced employees, having knowledge regarding quantum computing is likely to hinder the market growth.
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COVID-19 Impact Analysis:
The sudden outbreak of COVID-19 pandemic has made a significant impact on the global quantum computing market. During this crisis period, quantum computing technology can be used for medical research and other activities related to COVID-19 pandemic. Moreover, the technology can be beneficial for developing advanced drugs at an accelerated speed and for analyzing different types of interactions between biomolecules and fight infectious like viruses. In addition, businesses are greatly investing in the development of quantum computers for drug discovery amidst the crisis period. All these factors are expected to unlock novel investment opportunities for the market growth in the upcoming years.
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The report segments the quantum computing market into offerings type, end user, and application.
By offerings type, the report further categorizes the market into:
• Consulting solutions
Among these, the systems segment is expected to dominate the market by garnering a revenue of $313.3 million by 2027. This is mainly due to growing use of quantum computing in AI, radar making, machine learning technologies, and many others.
Based on application, the report further classifies the market into:
• Machine Learning
• Material Simulation
Among these, the machine learning segment is expected to observe accelerated growth and garner $236.9 million by 2027. This is mainly due to significant role of quantum computing in enhancing runtime, capacity, and learning efficiency. Moreover, quantum machine learning has the potential to speed-up various machine learning processes such as optimization, linear algebra, deep learning, and Kernel evaluation, which is likely to boost the market growth during the forecast period.
The report explains the lookout of the global quantum computing market across several regions, including:
• Asia Pacific
• North America
Among these, the Asia-Pacific region is estimated to lead the market growth by growing at a striking growth rate of 31.60% during the forecast period. This is mainly because of the growing adoption of quantum computing technologies in numerous sectors including chemicals, healthcare, utilities & pharmaceuticals, and others in this region.
Market Players and Business Strategies:
The report offers a list of global key players in the quantum computing market and discloses some of their strategies and developments. The key players listed in the report are:
• QC Ware, Corp.
• Cambridge Quantum Computing Limited
• D-Wave Systems Inc.,
• International Business Machines Corporation
• Rigetti Computing
• 1QB Information Technologies
• River Lane Research
• StationQ – Microsoft
• Google Inc.
These players are massively contributing to the growth of the market by performing activities such as mergers and acquisitions, novel developments, geographical expansions, and many more.
Our market experts have made use of several tools, methodologies, and research methods to get in-depth insights of the global quantum computing sector. Moreover, we strive to deliver a customized report to fulfill special requirements of our clients, on demand. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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