Quantum Computing Market 2021 - Latest Trends, Future Development Outlook and Demand Analysis to 2028

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Quantum Computing Market to 2028 - Growth Trends
and Emerging Opportunities Analysis

• Recent quantum computing market trends are
  impelled by an upsurge in product adoption across
  the BFSI sector and increase in government-led
  RD activities across a range of applications.
  The BFSI industry is an early adopter of quantum
  computing and helps banks in forecasting and
  identification of the future market, prediction
  of price, and identification of uncertainties and
  risks in financial models. The technology
  enables more accurate and fast decision-making
  capabilities including shaping an optimal
  investment portfolio mix.
• Driven by these aspects, quantum computing market
  size is anticipated to record USD 5 billion by
  2028, cites the latest research conducted by
  Global Market Insights, Inc. This rise is
  accredited to surging service demand in light of
  the increasing number of startups. The services
  are prominently utilized in optimization,
  simulation, and machine learning application,
  further leading to efficient operations and cost
  utilization across various industries.

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• Steps taken by leading market participants
• Leading market players include Honeywell,
  Accenture plc, IBM, Amazon Web Services, Inc.,
  Huawei, Google, and others. These companies are
  focusing on product development initiatives,
  mergers, acquisitions, and collaborations for
  boosting their position in the market.
• To consider another instance, in May 2021, Google
  announced plans to build an error-corrected and
  quantum computer by the end of 2030. For
  developing this technology, the tech giant has
  released a new Quantum AI campus in Santa Barbara
  containing hardware research labs, a quantum data
  center, and quantum processor chip fabrication
  facilities.

• Increasing demand for simulation and on-premise
  deployment
• The industry is witnessing soaring demand for
  simulation to manage financial risks. Simulation
  helps institutions in the acceleration of
  operations at optimized costs, in turn leading to
  new opportunities for cost savings and revenue
  generation. Owing to these factors, the
  simulation segment is anticipated to register an
  industry share of more than 20 in the year 2022.
  
• Meanwhile, the market has recorded surging
  concerns with regard to data security. These
  concerns are typical among medical researchers
  dealing with highly confidential data or
  developing a computational algorithm for the
  purpose of drug development.

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• Regional Analysis

• Europe quantum computing market A look at the
  regional growth drivers
• Over the years, Europe has witnessed the launch
  of numerous quantum initiatives by the European
  Union. A number of regional enterprises are
  focusing on system launches for offering strong
  research capabilities.
• Quoting an instance, in April 2021, IBM
  introduced its Quantum System One in Europe for
  research organizations and companies for the
  development and testing of applied quantum
  algorithms. In light of these factors, Europe
  quantum computing market share is expected to
  exceed USD 1.5 million through 2028.
• In a nutshell, increasing digitalization and
  surging technological investments across multiple
  businesses will augment the demand for different
  types of quantum computing through the estimated
  period.

• Competitive Analysis

• Some of the key players operating in the industry
  are 1QB Information Technologies, Inc., Accenture
  plc, Amazon Web Services, Inc., Cambridge Quantum
  Computing, D-Wave Systems, Fujitsu, Google,
  Honeywell, Huawei, IBM, Microsoft, QC Ware,
  Quantica Computacao, Quantum Circuits, Rigetti,
  Riverlane, VeriQloud, XANADU, and Zapata
  Computing.

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