Quantum Technologies Market Size
[170+ Pages Research Report] to surpass USD 4.56 billion by 2032 from USD 0.78 billion in 2021 at a CAGR of 17.3% in the coming years, i.e., 2022-32.
Quantum Technology is a class of technology that relies on the principles of quantum mechanics involving quantum superposition, quantum entanglement, and quantum tunneling. Quantum Computing, Quantum Sensing, Quantum Simulation, and Quantum Communication are major emerging quantum technologies. Quantum technology enables more powerful computing, more secure communications, more accurate healthcare imaging through quantum sensing, and more reliable navigation and timing systems. Quantum technologies are widely used in Banking, Financial Services and Insurance (BFSI), healthcare, Oil and Gas, Aerospace, Logistics and Distribution, Energy, Chemical and Material Science, and Defense among other sectors.
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Market Highlights
Quantum Technologies market is expected to project a notable CAGR of 17.3% in 2032.
Rising collaborations and partnerships by private companies, increasing government investments, and advancements in the technology will fuel the growth of Quantum Technologies market.
Figure - Market Analysis of Quantum Technologies Market
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Quantum Technologies Market: Segments
Quantum Sensing segment holds the largest share in the market
Quantum Technologies market is classified on the basis of technology into Quantum Computing, Quantum Sensing, and Quantum Communication. The Quantum Sensing segment is dominating the market with the largest share. Quantum sensing is used in various industries and applications, involving quantum physics and materials science. Furthermore, Quantum Computing is expected to grow at a significant rate during the forecast period.
Cloud-based segment grow with the highest CAGR during the forecast period 2022-32
Quantum Technologies market is classified on the basis of deployment into On-premise and Cloud-based. Cloud-based segment is dominating the market with the largest share and is also expected to grow with the highest CAGR during the forecast period. Cloud-based quantum computing permits researchers and companies to test their quantum algorithms.
Figure - Market Analysis of Quantum Technologies Market
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Market Dynamics
Drivers
Strategic Partnerships & Collaboration and Technological Advancements
Companies across the world are engaging with universities, collaborating with organizations, and partnering with other companies to develop quantum technologies. Furthermore, 6G technology will offer substantive improvements in the sensing, location determination, and imaging areas. The advent of convenient and mobile quantum processors which require less sophisticated environment along with the technological advancements in Quantum Technologies will bolster the market growth.
Increasing Investments by Government Authorities
Government authorities engaged in military and space sectors are investing heavily on the development of quantum technologies. Many governments all over the world are investing in research organizations to promote the development of computing technologies. Quantum computers are being used to perform wide range of optimization segments and simulation tactics.
Restraint
Shortage of Skilled Professionals
The shortage of skilled professionals along with high costs and complexity related to the development of quantum technologies are impeding the growth of the market.
Recent Developments
- In 2021, Qatalyst was launched by QCI. It is a SaaS quantum computing platform which allows access to resources via cloud.
Quantum Technologies Market: Key Players
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Alphabet Inc.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- Aosense, Inc.
- Amazon
- D-Wave Systems Inc.
- Honeywell International Inc.
- International Business Machines Corporation
- Intel Corporation
- Ix-Blue
- LI-COR, Inc.
- Microsoft Corporation
- Rigetti Holdings, Inc.
- Toshiba Corporation
- Baidu, Inc.
- Hewlett Packard Enterprise
- Other Prominent Players
Quantum Technologies Market: Regions
Quantum Technologies market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America is dominating the market with the largest share and is projected to grow at a significant rate during the forecast period. The growth is attributed to the huge presence of major technology companies, increasing investments in research and development, growing number of quantum research centers, and rising engagement of start-ups in quantum computing.
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Impact of Covid-19 on Quantum Technologies Market
Covid-19 had severely affected economic activities across the world. Many countries had to impose lockdowns and strict social distancing norms in order to control the spread of Coronavirus. The pandemic has disrupted operations of many industries. However Covid-19 has created new growth opportunities for the Quantum Technologies market. The demand for quantum computing ETF and stocks have increased in many countries. Quantum Technologies will play a vital role in healthcare sector to solve bigger problems.
Quantum Technologies Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Quantum Technologies Market report also contains analysis on:
Quantum Technologies Market Segments:
- By Technology
- Quantum Computing
- Quantum Sensing
- Quantum Communication
- By Deployment
- On-premise
- Cloud-based
- By Product
- Hardware
- Software
- Services
- By End-Users
- Healthcare
- Banking, Financial Services and Insurance (BFSI)
- Energy
- Oil and Gas
- Chemical & Material science
- Logistics and Distribution
- Aerospace
- Defense
- Others
- Quantum Technologies Market Dynamics
- Quantum Technologies Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraint
Quantum Technologies Market Report Scope and Segmentation
|
REPORT ATTRIBUTE |
DETAILS |
|
Market size value in 2021 |
USD 0.78 billion |
|
Revenue forecast in 2032 |
USD 4.56 billion |
|
Growth Rate |
CAGR of 17.3% from 2022 to 2032 |
|
Base year for estimation |
2021 |
|
Quantitative units |
Revenue in USD million and CAGR from 2022 to 2032 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Technology, Deployment, Product, End-Users, and Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
|
Key companies profiled |
Alphabet Inc., Aosense, Inc., Amazon, D-Wave Systems Inc., Honeywell International Inc., International Business Machines Corporation, Intel Corporation, Ix-Blue, LI-COR, Inc., Microsoft Corporation, Rigetti Holdings, Inc., Toshiba Corporation, Baidu, Inc., Hewlett Packard Enterprise, and Other Prominent Players |
Frequently Asked Questions (FAQ):
Quantum Technologies market to surpass USD 4.56 billion by 2032 from USD 0.78 billion in 2021 at a CAGR of 17.3% in the coming years, i.e., 2022-32.
Alphabet Inc., Aosense, Inc., Amazon, D-Wave Systems Inc., Honeywell International Inc., International Business Machines Corporation, Intel Corporation, Ix-Blue, LI-COR, Inc., Microsoft Corporation, Rigetti Holdings, Inc., Toshiba Corporation, Baidu, Inc., Hewlett Packard Enterprise
Quantum Sensing segment holds the largest share in the market is anticipated to hold the Quantum Technologies Market.
DRIVERS Strategic Partnerships & Collaboration and Technological Advancements.
Quantum Technology is a class of technology that relies on the principles of quantum mechanics involving quantum superposition, quantum entanglement, and quantum tunneling. Quantum Computing, Quantum Sensing, Quantum Simulation, and Quantum Communication are major emerging quantum technologies.
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