Quantum Computing Market Share

  • Report ID: 4910
  • Published Date: May 02, 2023
  • Report Format: PDF, PPT

Quantum Computing Market Share

North American Market Forecast

North America quantum computing market share is projected to be the largest by 2035, at around 38%. The market share domination can be attributed majorly to the increasing demand for faster computing capabilities that can help organizations and industries solve complex problems. Quantum computing can solve certain tasks much faster than traditional computing methods and is being increasingly adopted by organizations across North America.

Additionally, the launch of advanced computers by major quantum computing companies such as IBM and Microsoft, as well as government initiatives like the National Quantum Initiative in the US, are projected to fuel regional market growth.

APAC Market Statistics

By the end of 2035, Asia Pacific market will register ~27% revenue share, as the region has seen a rise in investments in quantum computing projects and research, as well as partnerships between government and private organizations. As a result, there has been a rise in the number of quantum computing startups.

Furthermore, the region has access to a large and growing pool of tech talent, which is driving the development of the industry. As more people become educated in the field of quantum computing, they are creating an ever-increasing pool of potential talent that can be used to develop quantum computing applications and products.

Europe Market Forecast

Europe quantum computing market is anticipated to grow substantially through 2035, led by the development of advanced quantum devices such as qubits and entanglement, as well as the increasing number of collaborations between industry and academia. The presence of numerous startups and venture capitalists in the region will further propel the market revenue.

Moreover, government initiatives such as Quantum Technologies Flagship of the European Commission also supports the industry expansion. The Quantum Technologies Flagship is a multi-year research and innovation project that aims at positioning Europe at the forefront of the second quantum revolution through long-term research and innovation.

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Quantum Computing Market Share
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Author Credits:  Abhishek Verma

  • Report ID: 4910
  • Published Date: May 02, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing investments in the development of quantum computing systems, the growing number of applications of quantum computing, and the need for efficient data processing are the major factors driving the market growth.

The market size of quantum computing is anticipated to attain a CAGR of ~33.20% over the forecast period, i.e., 2023-2035.

Challenges associated with the development of quantum algorithms, as well as the lack of quantum computing standards are estimated to be the growth hindering factors for the market expansion.

The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are Rigetti Computing, Inc., T-Systems International GmbH, Huawei Technologies Co. Ltd., IBM Corporation, D-Wave Systems Inc., Telstra Corporation Limited, Zapata Computing Inc., Microsoft Corporation, IonQ Inc., Silicon Quantum Computing, and others.

The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by deployment model, technology, offering, application, end-user, and by region.

The cloud segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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