Quantum Computing Market Size, Share and Trends

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MarketsandMarkets Presents
Quantum Computing Market by Offering, Deployment
(on-Premises and Cloud), Application
(Optimization, Simulation, Machine Learning),
Technology (Trapped Ions, Quantum Annealing,
Superconducting Qubits), End User and Region -
Global Forecast to 2028 The quantum computing
market size is valued at USD 866 Million in 2023
and is anticipated to be USD 4,375 Million by
2028 growing at a CAGR of 38.3 from 2023 to
2028. The key factors contributing to the growth
of the quantum computing market include the
rising adoption of quantum computing technology
in various industries and sectors, increasing
investments in quantum computing technology, and
a surge in the number of strategic partnerships
and collaborations for advancements in quantum
computing technology are among the factors
driving the growth of the quantum computing
market
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MarketsandMarkets Presents
Superconducting qubits is expected to hold the
largest share during the forecast
period Superconducting qubits have several
advantages over other qubits, including low power
consumption, high speed, and the ability to
operate at low temperatures. Moreover, due to the
high degree of control possible with this type of
qubit, they can be used for various applications,
such as quantum simulation, cryptography, and
quantum computing. In recent years, many
companies have made major advances in developing
superconducting qubits. For instance, in November
2022, IBM launched Osprey, its new 433-quantum
bit (qubit) quantum processing unit (QPU) and the
worlds largest superconducting quantum processor.
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MarketsandMarkets Presents
Banking Finance segment to hold largest share
of quantum computing market during forecast
period In the banking finance industry, quantum
computing is used for risk modelling applications
and trading strategies it is also used to detect
market instabilities and optimize trading
trajectories, portfolios, and asset pricing and
hedging. Download PDF Brochure _at_
https//www.marketsandmarkets.com/pdfdownloadNew.a
sp?id144888301 As the financial sector is
difficult to understand, the quantum computing
approach is expected to help users understand its
complexities. Moreover, it can help traders by
suggesting solutions to overcome financial
challenges. Banks and financial institutions,
such as hedge fundraisers, are the key adopters
of quantum computing systems and services as they
help them minimize risks and maximize gains from
dynamic portfolios of investments. Potential use
cases of quantum computing in the banking and
financial industry include portfolio analysis,
fraud detection, optimization, asset valuation,
cybersecurity system quantum-proofing, and
high-frequency trading.
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MarketsandMarkets Presents
Machine learning application is expected to grow
at the fastest rate during the forecast
period Quantum computing and machine learning
are two closely related fields of research.
Quantum computing has the potential to
revolutionize the way we process data, and
machine learning is a powerful tool for making
use of that data. By combining the two,
researchers are hoping to develop new algorithms
that can take advantage of the unique properties
of quantum computing to solve difficult problems
faster and more efficiently
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MarketsandMarkets Presents
North America is expected to hold the second
largest share of the quantum computing market
during forecast period North America accounted
for the second largest share of the quantum
computing market during the forecast period. The
growth of the market in this region can be
attributed to the presence of key quantum
computing system and service providers in North
America, as well as an increase in the adoption
of quantum computing applications in distinct
industries, such as space defense, chemical,
and banking finance.
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MarketsandMarkets Presents
The key players in this market are IBM (US),
D-Wave Quantum Inc. (Canada), Microsoft (US),
Amazon Web Services (US), Rigetti Computing (US),
Fujitsu (Japan), Hitachi (Japan), Toshiba
(Japan), Google (US), Intel (US), Quantinuum
(US), Huawei (China), NEC (Japan), Accenture
(Ireland), Nippon Telegraph and Telephone
(Japan), Bosch (Germany), Quantum Circuits (US),
IonQ (US), QC Ware (US), PsiQuantum (US), Alpine
Quantum Technologies GmbH (Tyrol), Xanadu
(Canada), ABDProf (Spain), Zapata Computing (US),
and Northrop Grumman (US). The players in this
market have adopted various strategies to expand
their global presence and increase their market
shares. Knnow more Information _at_
https//www.marketsandmarkets.com/Market-Reports/q
uantum-computing-market-144888301.html
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MarketsandMarkets Presents
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