The global quantum computing for enterprise market size is expected to reach USD 3,907.4 Million in 2027 at a CAGR of 47.3% during the forecast period. Increasing demand for quantum computing for drug design and discovery and in identification of novel chemical compounds is a key factor driving revenue growth of market over the forecast period. In addition, increasing need to accelerate artificial intelligence (AI) learning processes is another factor boosting revenue growth of market over the forecast period.
Quantum computing can effectively discover a wide range of possibilities through superposition and entanglement that can improve business value and this is expected to boost revenue growth of market over the forecast period. In pharmaceutical sector, improving front end processing with quantum computing can reduce capital expenditures and repurpose pre-approved drugs more efficiently for new applications. Computational chemists can accelerate the drug discovery process for treatment of a wide range of diseases and this is boosting adoption of quantum computing in drug design and discovery. Adoption of quantum computing in banking and financing sector to enhance data processing and transaction activities is expected to further fuel market growth over the forecast period. Quantum computing also plays a pivotal role in identifying an optimal and cost efficient way to mitigate financial risks and this is expected to further boost market growth over the forecast period.
Increasing investment by government to advance research and development in quantum computing technology is expected to further drive market growth going ahead. However, high cost of quantum computing solutions and concerns regarding public-key encryption are expected to impede market growth to a significant extent over the forecast period. In addition, operation challenges and stability errors of quantum computing are expected to further restrain market growth over the forecast period.
Some Key Highlights in the Report:
- Hardware segment is expected to register robust revenue CAGR of 47.5% during the forecast period. Growth of segment can be attributed to increasing use of qubits in quantum computing which requires optimized and standard hardware.
- Cloud-based quantum computing segment is expected to account for largest revenue share of market over the forecast period owing to increasing use of cloud-based quantum computing for drug design and discovery, risk management, financial trading, and supply chain optimization.
- Stimulation segment is expected to register significant revenue growth over the forecast period. This can be attributed to increasing usage of quantum computing simulation for production of electric batteries and in identification of novel drug and chemical compounds.
- Information technology segment is expected to register significant revenue CAGR over the forecast period owing to increasing application of post-quantum cryptography to boost long-term security of digital systems.
- North America market revenue is expected to expand significantly over the forecast period attributable to increasing investment by government to expand quantum computing research and development activities and robust presence of key market players such as Google LLC, Microsoft Corporation, and Intel Corporation in the region.
- Key companies operating in the market include Google LLC, Baidu, Inc., Rigetti & Co, Inc., International Business Machines Corporation, Microsoft Corporation, Intel Corporation, Alibaba Group Holding Limited, Accenture plc, AT&T Inc., and Atos SE.
- In 2019, International Business Machines Corporation (IBM) introduced a metric, called quantum volume, to assess and determine the power and effectiveness of a quantum computer based on hardware.
For the purpose of this report, Emergen Research has segmented the global quantum computing for enterprise market on the basis of component, deployment, application, end-use, and region:
Component Outlook (Revenue, USD Million; 2017–2027)
- Input/Output Subsystem
- Dilution Refrigerator
- Quantum Processing Unit
- Support & Maintenance
Deployment Outlook (Revenue, USD Million; 2017–2027)
- Cloud-based Quantum Computing
- Hybrid Quantum Computing
- On-premises Quantum Computing
Application Outlook (Revenue, USD Million; 2017–2027)
- Machine Learning
End-use Outlook (Revenue, USD Million; 2017–2027)
- Information Technology
- Life Science
- Oil& Gas
Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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