The Enterprise Quantum Computing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Enterprise Quantum Computing Global Market Report 2024, The enterprise quantum computing market size has grown exponentially in recent years. It will grow from $2.98 billion in 2023 to $3.83 billion in 2024 at a compound annual growth rate (CAGR) of 28.8%. The growth in the historic period can be attributed to rise in investments in quantum computing technology, growth in the number of skilled professionals, development of a regulatory framework, increased international collaboration, increased climate challenges.
The enterprise quantum computing market size is expected to see exponential growth in the next few years. It will grow to $10.83 billion in 2028 at a compound annual growth rate (CAGR) of 29.7%. The growth in the forecast period can be attributed to rise in gaming, expansion of aerospace, demand in financial trading, demand for agricultural processes, increase in manufacturing processes. Major trends in the forecast period include subscription-based quantum computing, quantum AI integration, quantum-inspired optimization, artificial reality, blockchain integration.
The increasing use of cloud computing is expected to propel the growth of the enterprise quantum computing market going forward. Cloud computing refers to a framework for providing ubiquitous, practical, on-demand network access to a pool of configurable computing resources that can be quickly deployed and released with no involvement from administration or service providers. The use of enterprise quantum computing allows organizations to optimize investment plans better, strengthen encryption, discover products, and do a variety of other things. Due to such benefits, there is a rise in demand for cloud computing. For instance, in December 2021, according to a report shared by Eurostat, a Luxembourg-based statistical office of the European Union, 42% of the European Union's enterprises were using cloud computing, a 6-percentage point (pp) increase from 2020. Therefore, the increasing use of cloud computing will drive the growth of the enterprise quantum computing market.
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The enterprise quantum computing market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Deployment Mode: On-Premise, Cloud
3) By Technology: Quantum Annealing, Superconducting, Trapped Ion, Quantum Dot, Other Technologies
4) By Application: Machine Learning/Deep Learning/AI, Optimization, Simulation And Data Modelling, Cyber Security, Other Applications
5) By Industry Vertical: Healthcare And Life sciences, IT And Telecom, Manufacturing, BFSI, Energy And Utilities, Aerospace And Defense, Other Industries
Top Major Players
Huawei Technologies Co. Ltd.
Google LLC
Microsoft Corp.
Alibaba Group Holding Limited
Amazon Web Services Inc.
Major companies operating in the enterprise quantum computing market are focusing on strategic collaboration to expand the market for quantum computing in Japan and Asia-Pacific. Strategic collaboration is a formal or informal agreement between two or more parties to work together towards a common goal that benefits all parties involved. For instance, in October 2022, Mitsui & Co., Ltd., a Japan-based company devoted to digitalization, announced a collaboration with Quantinuum, a UK-based company formed by the merger of Honeywell Quantum Solutions and Cambridge Quantum. They will work together to build quantum applications and deliver value-added services to enterprises working in several quantum computing fields. Both firms will work together to give new value to their clients and generate new business value in a broad spectrum of industrial domains by integrating Quantinuum's innovative quantum computing knowledge and diversified quantum talents with Mitsui's large business platform and network.
The enterprise quantum computing market report table of contents includes:
1. Executive Summary
2. Enterprise Quantum Computing Market Characteristics
3. Enterprise Quantum Computing Market Trends And Strategies
4. Enterprise Quantum Computing Market - Macro Economic Scenario
5. Global Enterprise Quantum Computing Market Size and Growth
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32. Global Enterprise Quantum Computing Market Competitive Benchmarking
33. Global Enterprise Quantum Computing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Enterprise Quantum Computing Market
35. Enterprise Quantum Computing Market Future Outlook and Potential Analysis
36. Appendix
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