Jul 30, 2021 (AmericaNewsHour) -- In a recent published report, Kenneth Research has updated the market report for Quantum Computing Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Quantum Computing Market products.
Kenneth Research has published a detailed report on Quantum Computing Market, which has been categorized by market size as well as growth indicators, and further encompasses detailed market analysis on macro trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The report also includes the challenges that are affecting the growth of the industry and offers strategic evaluation that is required to boost the growth of the market over the period of 2021-2025.
Global Quantum Computing Market
By Application (Optimization, Sampling, Simulation), Component (Software, Hardware, Services), Vertical (Banking & finance, Energy & power, Defense, Healthcare & pharmaceuticals, Chemicals), and Regional Market Size, Status and Forecast to 2025
The Global Quantum Computing Market was valued at USD 89.35 million in 2016 and is projected to reach USD 948.82 million by 2025, growing at a CAGR of 30.02% from 2017 to 2025.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Quantum computing is the area of study focused on developing computer technology based on the principles of quantum theory, which explains the nature and behavior of energy and matter on the quantum level. Quantum computing can be used in various fields such as machine learning, computational chemistry, financial portfolio optimization, logistics and scheduling, cyber security, code breaking, weather forecasting, artificial intelligence , molecular modeling providing many benefits in these sector.
1. Market Drivers
1.1 Increasing use of quantum cryptography to secure mobile transactions
1.2 Increasing incidences of cybercrime
1.3 Increasing adoption of quantum computing in the defense and automotive industry
1.4 High investments by government in the market
1.5 Rise in adoption of quantum computing in drug discovery
2. Market Restraints
2.1 Lack of technical expertise
2.2 Availability of alternative technology
2.3 Poor acceptance for new technology
The Global Quantum Computing Market is segmented on the application, component, vertical, and region.
2. By Component:
3. By Vertical:
3.1 Banking & finance
3.2 Energy & power
3.4 Healthcare & pharmaceuticals
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. QC Ware Corp.
2. D-Wave Systems Inc.
3. Cambridge Quantum Computing Ltd
4. IBM Corporation
5. Magiq Technologies Inc.
6. Qxbranch, LLC
7. Research at Google - Google Inc.
8. Rigetti Computing
9. Station Q - Microsoft Corporation
10. 1qb Information Technologies Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Quantum Computing Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.