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Quantum Computing Market Size

Report ID: GMI5143
Published Date: Apr 2023
Report Format: PDF

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Quantum Computing Market Size

Quantum Computing Market size was valued at USD 974.1 million in 2022 and is projected to record more than 10% CAGR from 2023 to 2032.

Quantum Computing Market

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Rapid technological innovations in quantum computing will shape the quantum computing market growth. The COVID-19 pandemic has pushed the demand for quantum computing because of the rising digitalization across several industries. Leading businesses across a range of sectors have adopted contemporary technology to simplify operations and increase productivity. The businesses have developed a culture of remote and home-based employment.

Quantum Computing Market Report Attributes
Report Attribute	Details
Base Year:	2022
Quantum Computing Market Size in 2022:	USD 974.1 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	10%
2032 Value Projection:	USD 65 Billion
Historical Data for:	2018 to 2022
No. of Pages:	200
Tables, Charts & Figures:	328
Segments covered:	Component, Deployment Model, End-user, Application
Growth Drivers:	Rising investments in quantum computing technology Demand for high performance computing Demand from medical research and financial markets Increasing number of strategic alliances for research and development Rising need to solve complex problems.
Pitfalls & Challenges:	Operational challenges Lack of highly skilled professionals

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A lack of proper knowledge regarding quantum computing may negatively impact quantum computing market expansion. Quantum computer engineering is still in the nascent stage. Numerous technical obstacles are needed to overcome in order to implement quantum computing technology in real-time applications. Due to their extraordinary sensitivity to external interactions, quantum computers have the potential to cause the state function to collapse.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of quantum computing reached USD 974.1 million in 2022 and is set to witness over 10% CAGR from 2023 to 2032.

The on-premises segment is expected to cross USD 1 billion by 2032, supported by the reduced requirement for remote access caused by centralized management.

North America market size to reach USD 5 billion by 2032, due to its early embrace of cutting-edge technologies.

Accenture, Cambridge Quantum Computing, AWS, Fujitsu, Google, Huawei, 1QBIT, IBM, Microsoft, Rigetti Computing, Riverlane, D-Wave Systems, Honeywell, and QC Ware are some of the leading players in the market.