Quantum Computing Market by Revenue Source, Application (Simulation, Optimization, and Sampling), Industry (Defense, Banking & Finance, Energy & Power, Chemicals, and Healthcare & Pharmaceuticals), and Geography - Global Forecast to 2023

  • ID: 4372627
  • Report
  • Region: Global
  • 111 Pages
  • Markets and Markets
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The Quantum Computing Market was Valued at USD 88.4 Million in 2016 and is Expected to Grow at a CAGR of 29.04% to Reach USD 495.3 Million by 2023

FEATURED COMPANIES

  • Accenture
  • Evolutionq Inc
  • Google Inc.
  • Intel Corporation
  • Qc Ware Corp.
  • Qxbranch, Llc
  • MORE

“Quantum computing market expected to grow at a significant rate between 2017 and 2023”
The quantum computing market is expected to grow at a CAGR of 29.04% between 2017 and 2023 and is expected to be valued at USD 495.3 million by 2023. The key factors driving the growth of the quantum computing market are the rising incidences of cybercrime, early adoption of quantum computing technology in the automotive and defense industry, and increasing investments by government entities in the quantum computing market. However, the major restraining factors for the growth of this market are presence of substitute technology and reluctance to accept new technology.

“Defense industry accounted for the largest share of the quantum computing market in 2016”
Quantum computing technology could play a significant role in defense and security; hence, the US Army, Navy, and Air Force are working together to establish a secure long-distance quantum communication network. Moreover, Lockheed Martin Corporation (US), an American global aerospace, defense, and security company, has invested in quantum computing technology and purchased a quantum computer developed by D-Wave Systems Inc. (Canada) to test mission-critical software. Quantum computers have the ability to perform multiple operations simultaneously, which results in a faster resolution. Hence, governments are supporting the use of quantum computing technology in the defense industry.

“North America accounted for the largest share of the quantum computing market in 2016”
North America is accounted for the largest share of the quantum computing market in 2016. This region is a key market as it is the home ground for some of the largest corporations such as D-Wave Systems Inc. (Canada), 1QB Information Technologies, Inc. (Canada), International Business Machines Corporation (US), and QxBranch LLC (US). The increased research and development (R&D) activities in the field of quantum computing are conducted in this region as well as the heavy investments by government agencies and technology giants such as International Business Machines Corporation (US), Microsoft Corporation (US), Google Inc. (US), Intel Corporation (US) are some factors driving the growth of this market in North America. The R&D at industry levels is broadening the application areas of the quantum computing in different industries such as energy & power, defense, and chemicals, especially in the US.

The break-up of the profiles of primary participants for the report has been given below:

  • By Company Type: Tier 1 – 20%, Tier 2 – 55%, and Tier 3 – 25%
  • By Designation: C-Level Executives – 50%, Directors – 25%, and Others – 25%
  • By Region: North America – 60%, Europe – 30%, and APAC – 10%

The key players operating in the quantum computing market are D-Wave Systems Inc. (Canada), IBM Corporation (US), Cambridge Quantum Computing Limited (US), 1QB Information Technologies Inc. (Canada), QC Ware Corp. (US), MagiQ Technologies (US), Research at Google (US), and Station Q- Microsoft Corporation (US).

Research Coverage:
The research report on the quantum computing market covers the market segmented on the basis of the following segments—revenue source, application, industry, and geography. The market has been segmented based on revenue sources into hardware, software, and services. Based on application, the quantum computing market has been classified into simulation, optimization, and sampling. The market has been segmented based on industry into defense, healthcare & pharmaceuticals, chemicals, banking & finance, and energy & power. The report covers the market based on three major regions: North America, Europe, and Asia Pacific (APAC).

Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market based on revenue source, application, industry, and geography have been conducted to give an overall view of the quantum computing market.
The major drivers, restraints, opportunities, and challenges for the quantum computing market have been detailed in this report.
The report includes a detailed competitive landscape, in-depth DIVE analysis, and revenue of the key players.

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FEATURED COMPANIES

  • Accenture
  • Evolutionq Inc
  • Google Inc.
  • Intel Corporation
  • Qc Ware Corp.
  • Qxbranch, Llc
  • MORE

1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Geographic Scope
1.3.3 Years Considered For The Study
1.4 Currency
1.5 Market Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown Of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.2.3 Market Ranking Estimation
2.3 Data Triangulation
2.4 Research Assumptions
2.5 Research Limitations

3 Executive Summary

4 Premium Insights
4.1 Global Quantum Computing Market
4.2 Quantum Computing Market, By End-User Industry
4.3 Quantum Computing Market, By Component & Application
4.4 Region-Wise Analysis Of Quantum Computing Market
4.5 Life Cycle Analysis Of Quantum Computing Market, By Industry, 2016
 
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Incidences Of Cybercrime
5.2.1.2 Early Adoption Of Quantum Computing In The Defense And Automotive Industry
5.2.1.3 Increasing Investment By Government Entities
5.2.2 Restraints
5.2.2.1 Presence Of Substitute Technologies
5.2.3 Opportunities
5.2.3.1 Use Of Quantum Cryptography To Secure Mobile Transactions
5.2.3.2 Increase In Adoption Of Quantum Computing In Drug Discovery
5.2.4 Challenges
5.2.4.1 Lack Of Highly Skilled Employees
5.2.4.2 Reluctance To Accept New Technology
5.2.4.3 Requirement Of High Cooling Conditions
5.3 Upcoming Revenue Pockets
5.3.1 Introduction
5.3.2 Machine Learning
5.3.3 Pattern Recognition
5.3.4 Business Analytics
5.3.5 Manufacturing & Logistic Infrastructure
5.3.6 Energy & Power – Clean Energy
5.4 Key Technologies

6 Quantum Computing Market, By Component
6.1 Introduction
6.2 Hardware
6.3 Software
6.4 Services

7 Quantum Computing Market, By Application
7.1 Introduction
7.2 Simulation
7.3 Optimization
7.4 Sampling
 
8 Quantum Computing Market, By End-User Industry
8.1 Introduction
8.2 Defense
8.3 Healthcare & Pharmaceutical
8.4 Chemical
8.5 Banking & Finance
8.6 Energy & Power

9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 Us
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Uk
9.3.2 Germany
9.3.3 France
9.3.4 Rest Of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 Japan
9.4.3 South Korea

10 Competitive Landscape
10.1 Overview
10.2 Market Ranking Analysis In Quantum Computing Market
10.3 Competitive Situation And Trends
10.3.1 Partnership & Collaborations
10.3.2 10 Most Recent New Product Development /Agreement And Acquisitions In Quantum Computing Market
10.3.3 Investments In Quantum Computing Market
10.4 Competitive Leadership Mapping 2016
10.4.1 Visionary Leaders
10.4.2 Dynamic Differentiators
10.4.3 Innovators
10.4.4 Emerging Companies
10.5 Competitive Benchmarking
10.5.1 Business Strategy Excellence (12 Players)
10.5.2 Strength Of Product Portfolio (12 Players)
Top 12 Companies Analyzed For This Study Are - D-Wave Systems Inc., International Business Machines Corporation, Anyon Systems Inc., Cambridge Quantum Computing Limited, Qc Ware, Corp., Qxbranch, 1Qb Information, Chnologies, Magiq Technologies, Research At Google - Google Inc., Stationq-Microsoft, Quantum Circuits, Inc., Rigetti Computing

11 Company Profiles
11.1 Introduction
(Business Overview, Products Offered, Business Strategy, Recent Developments, Key Relationships) *
11.2 D-Wave Systems Inc.
11.3 Qxbranch, Llc
11.4 International Business Machines Corporation (Ibm)
11.5 Cambridge Quantum Computing Ltd
11.6 1Qb Information Technologies Inc.
11.7 Qc Ware Corp.
11.8 Magiq Technologies Inc.
11.9 Station Q - Microsoft Corporation
11.10 Rigetti Computing
11.11 Research At Google – Google Inc.
*Details On Business Overview, Products Offered, Business Strategy, Recent Developments, Key Relationships Might Not Be Captured In Case Of Unlisted Companies.
11.12 Other Companies
11.12.1 Hewlett Packard Enterprise (Hp)
11.12.2 Nippon Telegraph And Telephone Corporation (Ntt)
11.12.3 Hitachi Ltd
11.12.4 Intel Corporation
11.12.5 Northrop Grumman Corporation
11.12.6 Toshiba Corporation
11.12.7 Accenture
11.12.8 Fujitsu
11.12.9 Quantum Circuits, Inc
11.12.10 Evolutionq Inc
11.13 University Landscape

12 Appendix
12.1 Insights Of Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
12.4 Introducing Rt: Real-Time Market Intelligence
12.5 Available Customizations
12.6 Related Reports
12.7 Author Details

List Of Tables

Table 1 Cybercrime Incidents Worldwide In 2016, By Industry
Table 2 Quantum Computing Market, By Component, 2015–2023 (Usd Million)
Table 3 Quantum Computing Market, By Application, 2015–2023 (Usd Million)
Table 4 Quantum Computing Market For Simulation, By Component, 2015–2023 (Usd Million)
Table 5 Quantum Computing Market For Optimization, By Component, 2015–2023 (Usd Million)
Table 6 Quantum Computer Market For Sampling, By Component, 2015–2023 (Usd Million)
Table 7 Quantum Computing Market, By End-User Industry, 2015–2023 (Usd Million)
Table 8 Quantum Computing Market For Defense, By Application, 2015–2023 (Usd Million)
Table 9 Quantum Computing Market For Healthcare & Pharmaceutical, By Application, 2015–2023 (Usd Million)
Table 10 Quantum Computing Market For Chemical, By Application, 2015–2023 (Usd Million)
Table 11 Quantum Computing Market For Banking & Finance, By Application, 2015–2023 (Usd Million)
Table 12 Quantum Computing Market For Energy & Power, By Application, 2015–2023 (Usd Million)
Table 13 Quantum Computing Market, By Region, 2015–2023 (Usd Million)
Table 14 Quantum Computing Patents
Table 15 Quantum Computing Market In North America, By Country, 2015–2023 (Usd Million)
Table 16 Quantum Computing Market In North America, By Application, 2015–2023 (Usd Million)
Table 17 Quantum Computing Market In Us, By Industry, 2015–2023 (Usd Million)
Table 18 Quantum Computing Market In Canada, By Industry, 2015–2023 (Usd Million)
Table 19 Quantum Computing Market In Mexico, By Industry, 2015–2023 (Usd Million)
Table 20 Focus Area Of Quantum Computing Technology In Coming Years
Table 21 Quantum Computing Market In Europe, By Country, 2015–2023 (Usd Million)
Table 22 Quantum Computing Market In Europe, By Application, 2015–2023 (Usd Million)
Table 23 Quantum Computing Market In Uk, By Industry, 2015–2023 (Usd Million)
Table 24 Quantum Computing Market In Germany, By Industry, 2015–2023 (Usd Million)
Table 25 Quantum Computing Market In France, By Industry, 2015–2023 (Usd Million)
Table 26 Quantum Computing Market In Rest Of Europe, By Industry, 2015–2023 (Usd Thousand)
Table 27 Quantum Computing Market In Apac, By Country, 2015–2023 (Usd Million)
Table 28 Quantum Computing Market In Apac, By Application, 2015–2023 (Usd Million)
Table 29 Quantum Computing Market In China, By Industry, 2015–2023 (Usd Million)
Table 30 Quantum Computing Market In Japan, By Industry, 2015–2023 (Usd Million)
Table 31 Quantum Computing Market In South Korea, By Industry, 2015–2023 (Usd Million)
Table 32 Top 5 Players In The Quantum Computing Market, 2016
Table 33 Most Recent Partnerships & Collaborations In Quantum Computing Market
Table 34 10 Most Recent New Product Developmnet, Agreement And Acquisitions In Quantum Computing Market
Table 35 Most Recent Acquisitions, Expansions, And Agreements In Quantum Computing Market

List Of Figures

Figure 1 Quantum Computing Market: Segmentation
Figure 2 Quantum Computing Market: Research Design
Figure 3 Research Flow Of Market Size Estimation
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Assumptions Of The Research Study
Figure 8 Sampling Application Would Hold Largest Share Of Quantum Computing Market During Forecast Period
Figure 9 Revenue Realization From Software Would Lead Quantum Computing Market During Forecast Period
Figure 10 Energy & Power Expected To Be Fastest Growing Industry In Quantum Computing Market During Forecast Period
Figure 11 North America Holds The Highest Market Share In Quantum Computing Market
Figure 12 Defense And Banking & Finance Would Lead To Increase In Demand For Quantum Computing During Forecast Period
Figure 13 Defense And Banking & Finance To Lead The Quantum Computing Market During Forecast Period
Figure 14 Sampling Is Expected To Hold Largest Share Of Quantum Computing Market By 2023
Figure 15 Quantum Computing Market In Apac Expected To Grow At Highest Cagr Between 2017 And 2023
Figure 16 Defense And Banking & Finance Have Enetred Into Growth Phase  In 2016 And Are Likely To Report Similar Progress In Near Future
Figure 17 Upcoming Revenue Pockets Of Quantum Computing Market
Figure 18 Military Budget Trend During 2006–2016
Figure 19 Healthcare Spending By Key Countries, 2015
Figure 20 Quantum Computing Market: Geographic Snapshot (2017-2023)
Figure 21 Snapshot Of Quantum Computing Market In North America
Figure 22 Snapshot Of Quantum Computing Market In Europe
Figure 23 Estimated Yearly Budget For Quantum Computing In Europe, 2015
Figure 24 Snapshot Of Quantum Computing Market In Asia Pacific
Figure 25 Companies Adopted Product Developments As The Key Growth Strategy Between May 2013 And June 2017
Figure 26 Quantum Computing Market: Evaluation Framework (2015-2017)
Figure 27 Battle For Market Share
Figure 28 Quantum Computing Market (Global): Competitive Leadership Mapping, 2016
Figure 29 Geographic Revenue Mix Of The Top 5 Players In The Quantum Computing Market
Figure 30 Quantum Computing Patent Analysis For Top Companies (2010–2017)
Figure 31 Ibm: Company Snapshot
Figure 32 Quantum Computing Patent Analysis For Top Universities (2010-2017)

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FEATURED COMPANIES

  • Accenture
  • Evolutionq Inc
  • Google Inc.
  • Intel Corporation
  • Qc Ware Corp.
  • Qxbranch, Llc
  • MORE

The quantum computing market is expected to be valued at USD 495.3 Million by 2023, at a CAGR of 29.04% between 2017 and 2023. The major factors driving the growth of this market include rising incidences of cybercrimes, early adoption of quantum computing in the defense and automotive industry, and increasing investment by government entities in the market. To secure mobile transactions, quantum key distribution systems are being adopted.

Quantum keys are considered secure, as it cannot be easily hacked. Moreover, the University of Oxford (England), Nokia Corporation (Finland) and Bay Photonics Ltd. (UK) have developed a device, which is capable of sending quantum keys using polarized light, thereby making the payments more secure on a smartphone. This factor would have a positive impact on the quantum computing market during the forecast period.

This report segments the quantum computing market on the basis of revenue source, application, industry, and geography. The sampling application of quantum computing accounted for the largest share in 2016. This growth is mainly attributed to the growing demand for the sampling application in the banking & finance, defense, healthcare & pharmaceuticals, and chemicals industries.

North America accounted for the largest share of the overall quantum computing market in 2016. On the other hand, Asia Pacific (APAC) would be the fastest growing region for quantum computing during the forecast period. This growth can be attributed to the increasing demand for quantum technology to solve the most tedious and complex problems in the defense and banking & finance industry.

On the basis of industry, the quantum computing market is segmented into defense, healthcare & pharmaceuticals, chemicals, banking & finance, and energy & power. The quantum computing market for energy & power is expected to witness a significant growth during the forecast period. The significant growth of this industry can be attributed to the highly attractive outlook for nuclear and renewable sectors. Applications from energy & power industry such as energy exploration, seismic survey optimization, and reservoir optimization would drive the growth of the  market in the energy & power industry.

Quantum computing is a new and promising technology and to implement it, a pool of technically skilled employees is required. Hence, to find an employee with the required skill set is the biggest challenge for industry players. To overcome this challenge, governments and quantum computer manufacturers are planning to start training sessions related to this technology. For example, D Wave Systems Inc. (Canada) provides “Training Modules” to its customers to make them aware of the workings of quantum computers.

The key players in this market are D Wave Systems Inc. (Canada), 1QB Information Technologies Inc. (Canada), QC Ware Corp. (US), Google Inc. (US), and QxBranch LLC (US).

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  • D-Wave Systems Inc.
  • Qxbranch, Llc
  • International Business Machines Corporation (Ibm)
  • Cambridge Quantum Computing Ltd
  • 1Qb Information Technologies Inc.
  • Qc Ware Corp.
  • Magiq Technologies Inc.
  • Station Q - Microsoft Corporation
  • Rigetti Computing
  • Google Inc.
  • Hewlett Packard Enterprise (Hp)
  • Nippon Telegraph And Telephone Corporation (Ntt)
  • Hitachi Ltd
  • Intel Corporation
  • Northrop Grumman Corporation
  • Toshiba Corporation
  • Accenture
  • Fujitsu
  • Quantum Circuits, Inc
  • Evolutionq Inc
  • University Landscape
Note: Product cover images may vary from those shown
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