Quantum Computing & Technologies Market is Expected to Grow with a CAGR of 32.5 % over the Forecast Period. Increased demand for handling & analyzing the data for making business decisions more effective and rising incidences of cybercrime are some of the major factors driving the growth of the Global Quantum Computing & Technologies Market.
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Scope of the Report:
Quantum computing & technologies consists of subatomic particles such as electrons, photons that exist in more than one state at any time. Unlike traditional computers, the quantum computer comprises series of bits with additional quantum analog qubits. Qubits are physically distinguishable two states quantum mechanical systems like electron and photon in the two dimensions which are responsible for the entanglement and super positioning movement. With the help of qubit, it becomes easy to identify, interpret and analyze the data stored in the warehouse system. Quantum computers can be operated at freezing temperatures near absolute zero which is most suitable to execute its functioning. Quantum computation is the scientific method of finding the most perfect and accurate solutions for problems that cannot be solved by traditional computers. Quantum computational technique is capable of solving polynomials, factorization, and exponential problems with the help of machine learning, Big Data, Internet of Things, Cloud Computing and artificial intelligence which consist of recurrent neural networks to optimize and extricate the dynamic data.
Quantum computing & technologies market report is segmented on the basis of type of technology, applications, component, end-user industry and by region & country level. Based upon technology, market is segmented into Blockchain, Adiabatic, Measurement-Based, superconducting and topological. Based upon applications, market is segmented into Cryptography, IoT/Big data/Artificial intelligence, teleportation, Simulation & data optimization and others. Based upon component, the market is classified as hardware, software & systems and services. Based upon end-user industry, the quantum computing & technology market is segmented into aerospace and defense, healthcare, manufacturing, it & telecommunications, energy and others.
The regions covered in this Global Quantum Computing & Technologies market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Global Quantum Computing & Technologies market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Quantum Computing & Technologies Market Report–
Some major key players for Quantum Computing & Technologies market are IBM Google, Microsoft, Alibaba, D-Wave Systems Inc., Nokia, Intel, Airbus, HP, Toshiba, Mitsubishi, SK Telecom, NEC, Raytheon, Lockheed Martin, Rigetti, Biogen, Volkswagen, Amgen, ID Quantique and others.
A Preview of Bristlecone, Google’s New Quantum Processor.
March 5th, 2018; Google has invented the new technique which will solve real-world problems with the help of an artificial intelligence superconducting system and by qubit technology to provide a test bed for research into system error rates. It introduced a device named Bristlecone which would then be a compelling proof-of-principle for building larger-scale quantum computers. To operate this device with minimum error they have used full-stack technology software and electronic control system for processing and solving the complex problems.
Increased Demand for Handling & Analyzing the Data for Making Business Decisions More Effective and Rising Incidences of Cybercrime are Some of the Major Factors Driving the Growth of the Global Quantum Computing & Technologies Market.
Growth of quantum computing & technologies is primarily driven by big data handling, problem-solving technique to optimize the data which are used in various industries including automotive healthcare energy & power. According to a research, everyday internet generates 2.5 billion gigabytes of YouTube shorts, viral news stories, click-bait articles, and blogs. Worldwide 3.58 billion internet users gather together to send 500 million tweets, publish 2 million articles, and send 281.1 billion emails every day. So, there is huge data and Quantum computing technology allows the user to simulate, detect, analyze, and diagnose the scattered data into well-structured data sets. According to the survey of IT, leaders from the top 400 organization quantum computing technology finds 71% view the emergence of quantum computers as a threat to cyber security. One of the biggest restraints of this technology is its high cost and it requires absolute zero temperature to operate so it’s difficult to maintain that temperature at low cost. Another big challenge faced by this technology is the lack of knowledge and awareness about encryption algorithms and codes used while performing some tasks in quantum computers.
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In spite of that, incresaing technological advancements with high-performance quantum computing technology used in various industries such as aerospace & defense, BFSI, healthcare & life science, energy & utilities, and others fosters the growth of the market. Its excellent problem-solving power, growing spending and investment in the development and research by industry giants, has also increase the demand for quantum computing from medical research and financial sectors are expected to create great opportunity for the investors.
North America is Expected to Dominate the Global Quantum Computing & Technologies Market.
North America is emerged as a leading region in the global quantum computing & technologies market followed by Europe and Asia pacific. In the fiscal year, 2019 the U.S. government has provided $1.2 billion to fund the activities promoting quantum information science for an initial five-year period followed by U.S. the European Union has also launched a $1.1 billion investment in providing the top quantum computing strategic plan. One of the biggest competitors of the U.S. is China there is a race going on for using the most advanced technology of quantum computing. China is planning to build the world’s biggest quantum research facility for quantum computers and other revolutionary technology. The National Laboratory for Quantum Information Science of China will be located on a 37-hectare site next to a small lake in Hefei, Anhui province, China.
Key Benefits for Global Quantum Computing & Technologies Market Report–
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
Quantum Computing & Technologies Market Segmentation:–
By Type of Technology:
IoT/Big data/Artificial intelligence/ML
Simulation & Data Optimization
Software & Systems
By End-User Industry:
Aerospace and Defense
IT & Telecommunications
Energy and Power
By Regional & Country Analysis:
Middle East and Africa
Rest of Middle East and Africa
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