Quantum computing will mark the beginning of a new era in human scientific endeavors
Quantum computing harnesses the incredible laws of quantum mechanics to process information. Perhaps the commercialization of quantum computing can be dramatic and have far-reaching consequences as that of the invention of the wheel, agriculture and that of the internet. In traditional computing, bits are used to store or encode information as either a zero or one. On the other hand, in quantum computing, quantum bits or qubits are used to store information. In the quantum computing concept, there is no distinction between 0 and 1 and the information can be both 0 and 1 at the same time, mimicking the properties of sub atomic particles such as electrons. This happens due to the phenomena of superposition and entanglement. Due to the phenomenon of superposition observed in the sub atomic particles, they are able to occur in multiple states at the same time, so information stored in qubits can be both 0 and 1 at the same time. As far as entanglement is concerned, it is the phenomenon observed in sub atomic particles where they exhibit a strong correlation and can be linked in perfect harmony. Due to these phenomena of superposition and entanglement, a quantum computer is able to perform incredible number of calculations simultaneously. Owing to this property, quantum computing is much faster than classical computing.
Quantum computing has got a vast array of applications, most of which we cannot even comprehend today. Quantum computing is known to have applications in cryptography, in simulating complex systems, in the development of new materials and drugs, and many more. The development of quantum computing will also have far-reaching consequences in machine learning as well as in the development of artificial intelligence. Quantum computing will even have applications in cyber security, making the internet much more secure and in the defense sector as well.
Governments of various countries are investing significantly to accelerate quantum computing research operations
Quantum computing technology has potential to change dynamics in military affairs, commerce, and strategic balance of power. Governments of various countries are taking initiatives to expand exploratory research on quantum computing technologies for development and establishment of quantum computing solutions. Rising governmental investments to develop quantum computing solutions for commercial applications is expected to support growth of the global quantum computing market. In August 2016, The U.S. Department of Energy announced its plans to invest US$ 16 Mn, with the objective to aid in designing new materials for supercomputers. In September 2016, the Government of Canada announced its plans to invest US$ 76 Mn in The University of Waterloo's Institute for Quantum Computing — a Canada based research institute — for the development of quantum technology solutions. In September 2014, Networked Quantum Information Technologies — a quantum computing research hub — was formed under the UK National Quantum Technologies Programme (UKNQTP) by the U.K. Government.
Increasing investments for the commercialization of quantum computing
Theoretically, quantum computing aids in processing and transmission power, and will be capable of solving complex problems faster than modern classical binary supercomputers. Major technology giants across the world are investing more resources and increasing their research and development investments, with the objective to tap commercial opportunities of quantum computing in government and private sectors. Also, investment firms are focusing on making large-scale capital investments in companies developing potential commercial applications of quantum computing and companies extensively focused on research in the area of quantum computing.
Lack of researchers/developers with quantum technology skills
Lack of business understanding of quantum computers, shortage of developers with the desired skillsets, and lack of quantum science departments at the institutional level for exploring practical applications of quantum computers are some of the factors expected to act as restraints in the growth of the global quantum computing market.
Global Quantum Computing Market Attractiveness Analysis, By Component (2017–2025)
In terms of value, the hardware segment is projected to be the most attractive segment in the global quantum computing market during the forecast period. However, the software segment is expected to register high Y-o-Y growth rates throughout the period of study. In terms of value, the software segment is estimated to register a CAGR of 42.3% during the forecast period. In 2016, the hardware segment was the dominant segment and was valued at US$ 2,057 Mn and is expected to remain dominant throughout the forecast period in terms of value share.
The report ‘Quantum Computing Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)’ is a comprehensive compilation on the quantum computing market and contains exclusive information regarding the market analysis, growth and forecasts for the period 2017 to 2025. Quantum computing can be defined as a representation of a quantum turing machine. Quantum computation is the extension of classical computation and uses quantum mechanical phenomena such as individual atoms, molecules, or photons to process quantum information. Quantum computers store and process information as quantum bits/qubits, which is zero, one and superposition of zero and one. Qubits can exist in multiple states simultaneously, and has potential to compute a large number of calculations in parallel. Quantum computing may untangle the complexity of business applications across various industries including medicine and materials, artificial intelligence, supply chain and logistics, and financial services.
This report is an exclusive compilation on the quantum computing market and contains a host of valuable information regarding this upcoming and exciting market. The report starts with an executive summary of the quantum computing market, which lists the pertinent market numbers along with the CAGR for the forecast period 2017-2025. This report gives the definition and the necessary information regarding the concept of quantum computing and how it is different from classical binary computing. After this, the report lists the universities around the world that are home to quantum computing research groups. The next section of the report is a valuable compilation of the quantum computing architecture: publications by research groups and lists the various types of publications in this upcoming field. The next portion of the repot gives information about quantum computing mechanisms. The report then explains the various types of quantum computing systems. A section of the report lists the number and types of patents granted for the subject of quantum computing and also gives the names of the scientists to whom these patents have been assigned.
The next section of the report concentrates on providing a detailed explanation regarding the market dynamics affecting the quantum computing market. The report also provides a detailed explanation of the drivers, restraints and trends in the quantum computing market and lists the factors that are encouraging the growth of this market and the factors that are hampering the growth of this market. In the next portion of the report, an industry wise opportunity analysis is provided that explains the opportunities that quantum computing offers to various types of industries. Thereafter, the global quantum computing market value chain analysis is indicated. The next section of the report presents the global quantum computing market forecast for the period 2017-2025. After this, the global quantum computing market forecast by component is mentioned. This subsection of the report gives important market metrics such as the BPS analysis, year-on-year growth rates, absolute dollar opportunity and market attractiveness analysis of the quantum computing market. Market trends governing the global quantum computing market are also discussed subsequently.
An important section of the report focuses on the competitive landscape of the global quantum computing market. This part constitutes information on the key market players. This competition landscape gives a dashboard view of the top companies operating in the global quantum computing market along with their important information and broad strategy adopted to stay as leaders in the global quantum computing market. Each of the leading companies is also profiled individually and important information about the company such as company details, company description, product portfolio along with key developments concerning the company and strategic analysis is presented.
Why should you invest in this report?
If you are ready to enter the global quantum computing market, then this report is a comprehensive guide and will give you crystal clear insights into this vast and lucrative market. All the aspects of quantum computing are covered in this report and this market is broken down for the sake of analysis and forecast into hardware and software components and key information is provided regarding which sub segment will perform the best in the near future and during the forecast period of 2017-2025 to help you invest your money wisely. Besides, this report also gives valuable details about the kind of research that is taking place in this upcoming field, the list of patents granted in this field and the names of scientists and universities that are working on the subject of quantum computing. This important information will help you decipher this upcoming and resourceful market. Besides, through this report, you can gain a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, then this report will help you gauge the strategies that your competitors have adopted to stay as leaders in this market.
A tested and proven research methodology for accurate estimation of market performance
In this report, historical data, primary responses and public domain data has been thoroughly analyzed to infer the market size. Revenue of companies operating in the quantum computing market has been benchmarked to ascertain the market size for the base year. Macroeconomic indicators such as GDP and industry growth have been considered to determine the market size for the forecast period. The historical growth trend of end-use industries, market participants’ performance, as well as the present macro-economic outlook has been taken into consideration for estimating the overall market trend forecast. This data is then validated using the triangulation method and is extensively scrutinized using advanced tools to garner quantitative and qualitative insights into the global quantum computing market.