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IN THE NEWSMay 2021: CINECA and D-Wave Systems Inc. declared a collaboration that aims to supply Italian universities, developers and researchers an access to practical quantum computing resources and technology through D-Wave’s Leap quantum cloud service.
April 2021: Hewlett Packard Enterprise had been awarded SGD 40 million to create a new supercomputer for the National Supercomputing Centre (NSCC) in Singapore to support the science and engineering computing needs for academic, business and research communities. This new computer can be 8 times quicker than NSCC’s existing HPC resources.
The global topological quantum computing market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2022-2030, which can be attributed to the increasing product launches associated with topological quantum computing, rising adoption of quantum computing in the BFSI sector and growing involvement of companies to expand their geographic presence. Moreover, rising emphasis of organizations on R&D activities to develop innovative techniques in the field of topological quantum computing is also expected to be a major factor to create significant opportunities for the market in the upcoming years. Furthermore, as topological quantum computation is precisely a new and different approach to quantum computing, it is capable of employing systems with a unique way of encoding and processing information in a fault-tolerant way, which is projected to significantly increase the demand for topological quantum computing systems in the near future.
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The market is segmented on the basis of offering into system and service, out of which, the service segment is anticipated to grab the largest market share, attributing to the increasing number of startups across the world which are investing in research and development activities related to topological quantum computing technology. Additionally, on the basis of deployment, the cloud-based segment is estimated to grab the largest market share over the forecast period owing to the increasing development of effective cloud systems, and rising demand for cloud-based deployment of quantum computing service. Along with this, the flexibility of access offered by cloud is expected to be another factor fueling the growing adoption of cloud-based deployment of topological quantum computing systems and service in the coming years.
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud service, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labour productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and service in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. The market in North America is predicted to grow at the highest CAGR over the forecast period ascribing to the growing number of strategic collaborations among companies for the advancement of topological quantum computing technology and the strong presence of major players in the region. Moreover, the market in APAC is estimated to acquire the largest market share during the forecast period, which can be credited to the growing usage of advanced technologies in the pharmaceutical, banking and finance, and manufacturing sectors. Apart from these, countries such as China, Japan, and South Korea are the leading manufacturers of consumer electronics in Asia and there is a high requirement to resolve issues associated with optimization, simulation, and machine learning applications across the industry, which in turn is anticipated to boost market growth in this region. For instance, in 2018, China produced around 300 million computers, approximately 2 billion smartphones and 200 million televisions.
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The global topological quantum computing market is further classified on the basis of region as follows:
Our in-depth analysis of the global topological quantum computing market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Increasing usage of smart devices and rising adoption of quantum computing in banking and finance industry are the key factors driving market growth.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2022-2030.
Rising concerns related to data privacy is the major challenge estimated to hamper the topological quantum computing market growth.
The market in Asia Pacific will provide ample growth opportunities owing to the growing use of advanced technologies in the manufacturing sector in the region.
The major players dominating the topological quantum computing market are Microsoft Corporation, IBM Corporation, Google LLC, SAP Group, D-Wave Systems Inc., among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by offering, deployment, application, and by region.
With respect to offering, the service segment is anticipated to hold the largest market share owing to the increasing number of startups across the globe that are investing in research and development activities associated with topological quantum computing technology.
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