The Quantum Computing Market to grow by USD 9,013.68 million from 2022 to 2027; The growth of AI and machine learning is a major trend in the market- Technavio.

NEW YORK, Aug. 14, 2023 /PRNewswire/ -- The quantum computing market is projected to progress at a CAGR of 18.84% between 2022 and 2027, the size of the market is forecast to increase by USD 9,013.68 million during the forecast period. The growing utilization of quantum cryptography, which is a technique for secure code-writing and solving has been a key driver for the growth of the quantum computing market. Quantum cryptography offers the highest-level security during the transmission of even the most sensitive data. The introduction of quantum computing has made it possible to process large amounts of encrypted data incredibly fast. Moreover, quantum computing can decode encrypted data to plaintext in seconds, whereas a conventional computer could take years to do so. This decoding process is achieved by increasing the number of bits and increasing the length of the key. But concerns that hackers could use quantum computers to decipher sensitive information have led many governments to invest in developing quantum computers with high-security features. Hence, the growing utilization of quantum cryptography is expected to drive market growth during the forecast period. For further information on Market growth and size -Request a sample report

Quantum Computing Market – Market Dynamics

Major Trends

The growth of AI and machine learning is a major trend in the market. AI deals with computers, machines, software, and computer-controlled robots. They are able to find solutions to complex problems by thinking intelligently. Similarly, machine learning is a form of AI that allows computers to learn on their own. Furthermore, computers can analyze, make decisions, grow, and learn when provided with new data. AI and machine learning are some of the biggest applications of quantum computing.

Additionally, AI operates at high speeds to compute data efficiently, which will require fast processors, and the development of quantum computer processor chips will be used in AI applications. Quantum computing is expected to grow steadily in the areas of AI and machine learning. This is mainly because AI problems are made difficult by optimization and sampling problems. This can be solved in minutes with a quantum computer. Thus, these factors are expected to drive market growth during the forecast period.

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Other Key Data Covered in Quantum computing market report- 

• Detailed information on factors including driver details. 
• Market segmentation by deployment (cloud and on-premises), end-user (aerospace and defense, government, IT and telecom, and others), and geography (North America, APAC, Europe, South America, and the Middle East and Africa).
• Precise estimation of the quantum computing market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Comprehensive analysis of factors that will challenge the growth of the crowdfunding market companies.
• A thorough analysis of the market's competitive landscape and detailed information about companies
• Growth of the industry across APAC, North America, Europe, Middle East and Africa, and South America
• CAGR of the market during the forecast period

Download Sample Report to get an overview of market size, comparing historic market values with future estimates, analysis of segmentation, current market dynamics, competitive intelligence with key developments and growth strategies of major players.

Quantum Computing Market - Company Analysis and Scope

Some of the major companies in the quantum computing market are 1QB Information Technologies Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Anyon Systems Inc., Atos SE, D-Wave Quantum Inc., Honeywell International Inc., ID Quantique SA, International Business Machines Corp., IonQ Inc., Microsoft Corp., QC Ware, QRA Corp., Quantica Computacao, Quantinuum Ltd., Quantum Circuits Inc., Qubitekk Inc., Rigetti and Co. LLC, and Intel Corp.

Company Offerings

• Alibaba Group Holding Ltd. - The company offers quantum computing services which take large manufacturing data sets on operational failures to be paired with algorithm data for identifying which part contributed to product failure.
• Alphabet Inc. - The company offers quantum computing trading robots built by artificial intelligence and machine learning technology to speculate contracts for differences for placing trades on different sets of commodities.
• D-Wave Quantum Inc. - The company offers quantum computing services in which users can solve large and complex problems against specific data sets during operational failure.

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• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Deployment

7 Market Segmentation by End-user

8 Customer Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

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