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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 [Report Updated: 09082017

12:55 EDT 18 Aug 2017 | BioPortfolio Report Blog

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 longdistance 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 DWave Systems Inc. Canada to test missioncritical 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 DWave Systems Inc. Canada, 1QB Information Technologies, Inc. Canada, International Business Machines Corporation US, and QxBranch LLC US. The increased research and development RD 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 RD 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 breakup 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: CLevel 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 DWave 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 segmentsrevenue 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, indepth DIVE analysis, and revenue of the key players.

Original Article: 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 [Report Updated: 09082017

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