Technology

Quantum Computing for Enterprise Market Size Forecasted to be Worth USD 3,907.4 Million in 2027

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.

Quantum Computing for Enterprise

Grab Your Free Sample PDF Copy Now

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)

  • Software
  • Hardware
    • Input/Output Subsystem
    • Dilution Refrigerator
    • Quantum Processing Unit
  • Service
    • Support & Maintenance
    • Consulting
    • Training
    • Others

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)

  • Simulation
  • Machine Learning
  • Optimization
  • Others

End-use Outlook (Revenue, USD Million; 2017–2027)

  • Aerospace
  • Agriculture
  • Automotive
  • Energy
  • Finance
  • Gaming
  • Healthcare
  • Information Technology
  • Investment
  • Life Science
  • Logistics
  • Manufacturing
  • Oil& Gas
  • Telecommunication
  • Transportation

Regional Outlook (Revenue, USD Million; 2017–2027)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • Israel
    • Turkey
    • Rest of MEA

To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/quantum-computing-for-enterprise-market

Biswas Debanjan

Debanjan Biswas is researcher in various sectors, including information technology, healthcare and automotive, with over a decade of experience in the industry.

Share
Published by
Biswas Debanjan

Recent Posts

The Basics of Crowdsourcing: How Does it Work? 

Crowdsourcing is a modern method of outsourcing tasks or projects to a large group of…

52 mins ago

5 Cost-Effective Ways to Cool Your Home with a Home Depot Fan

As the summer months approach, it becomes more and more important to find ways to…

54 mins ago

Why You Should Care About VeChain(VET): The Promising New Blockchain Network

A public blockchain called VeChainThor is intended for widespread use of blockchain technology by companies…

1 hour ago

North Dakota Electricians: Fulfill Your Continuing Education Obligations Online

Do you have a North Dakota electrician license and need to fulfill your continuing education…

1 hour ago

Top 10 Tit-tok Quizzes Guide 2023

A Top 10 quiz is a fun and educational format for testing general knowledge. Participants…

2 hours ago

Competitive Trading Conditions to Meet the Needs of All Traders – Fintradespace Review

It is essential to have the best competitive trading conditions and account packages available in…

2 hours ago