Growing demand for high performance computing in various industries, rising investments in quantum computing technology by market players, and demand for quantum computing from medical research and financial markets are expected to drive the growth of the global enterprise quantum computing market
PORTLAND, Oregon, Feb. 5, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Enterprise Quantum Computing Market by Component (Hardware, Software, and Services), Deployment (Cloud, and On-premise), Technology (Quantum Annealing, Superconducting, Trapped Ion, Quantum Dot, and Others), Application (Machine Learning/Deep Learning/AI, Optimization, Simulation & Data Modelling, Cyber Security, and Others), and Industry Vertical (Healthcare & Life Sciences, IT & Telecom, Manufacturing, BFSI, Energy & Utilities, Aerospace & Defense, and Others): Global Opportunity Analysis and Industry Forecast, 2018–2025. The report provides an in-depth analysis of the key winning strategies, drivers & opportunities, market share, key segments, and competitive landscape. According to the report, the global enterprise quantum computing market garnered $650 million in 2017 and is expected to reach $5,853 million by 2025, registering a CAGR of 31.7% from 2018 to 2025.
The growing demand for high performance computing technology in various industries such as aerospace & defense, BFSI, healthcare & life science, energy & utilities, and others due to its excellent processing power and infinite storage, growing spending and investment in the development and research by industry giants, and the rise in demand for quantum computing from medical research and financial sectors drive the market growth. However, operational challenges and stability & error correction issues associated with quantum computing restrain the growth of the market. Conversely, rise in need for secure computing platforms, increase in use of simulation and modeling in quantum computing, emergence of on-premises quantum computers for businesses, and technological advancements in quantum computing are expected to provide opportunities for the growth of the market.
Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/5143
Hardware segment to lead in terms of revenue, services to grow the fastest through 2025
Among components, the hardware segment accounted for more than half of the total market share in 2017 and would continue its dominance through 2025. This is due to the increased need for creating the basic building blocks for quantum computers such as qubits and quantum gates. Moreover, the growing investment by investors into startups working on quantum computing hardware further contributes to the growth of this segment. However, the services segment would register the fastest CAGR of 36.8% from 2018 to 2025. This is because enterprises are expected to experience the requirement for consulting, training, maintenance, and support services during the usage of quantum computers. Furthermore, the demand for deployment, integration, and upgradation services will also drive the growth of segment. The software segment would grow at a steady pace during the study period.
On-premise to dominate, cloud to grow the fastest by 2025
Among deployments, the on-premise segment grabbed more than three-fourths of the market share in 2017 and is likely to remain dominant in terms of revenue through the study period. This is attributed to the increased technological developments and rising investment by several government entities and organizations for developing on-premise quantum computers. However, the cloud deployment segment would grow at the fastest CAGR of 34.1% from 2018 to 2025. This is because cloud-based deployment model does not involve capital cost and has low maintenance. Moreover, users can develop, test, and run their programs on the quantum devices without needing any physical quantum computer.
Superconducting segment to be dominant, quantum dot to exhibit the fastest growth
Among technologies, the superconducting segment accounted for the largest market share, contributing nearly one-third of the total market share and will remain the lead revenue contributor through 2025. This is because many industry giants are opting for this technology due to its capability of zero resistance under maintenance of certain temperature. However, the quantum dot segment is likely to achieve the fastest growth of 35.7% from 2018 to 2025. The growing need for finding alternative ways of quantum computing by numerous quantum computing companies contributes to the growth of this segment. The research also discusses quantum annealing, trapped Ion, and others.
For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/5143
Optimization segment to remain dominant, cyber security to grow the fastest by 2025
The optimization segment held the largest market share in 2017, contributing to nearly one-third of the overall market share. It would also remain dominant through 2025. The factors driving the segment is the growing need to optimize the problems associated with financial analysis, traffic optimization, airline scheduling, and other related sectors. Nonetheless, the cyber security segment would grow at the fastest CAGR of 35.8% through the study period. This is due to the growing need for developing new technologies such as quantum-safe crypto solutions which can secure systems from hackers. The report also analyzes applications such as machine learning/deep learning/AI, simulation and data modeling, and others.
Energy and utilities to grow the fastest, aerospace and defense to lead in terms of revenue
The energy and utilities segment would achieve the fastest CAGR of 37.3% during the forecast period, owing to the increasing need to develop next-generation energy technologies. However, the aerospace & defense was the largest segment in 2017, capturing more than one-fourth of the market share. It would also dominate the market through 2025. This is due to the surge in investment in the space and need for increasing research in quantum computing development by aviation and defense industries. The other industries analyzed in the research are healthcare, IT and telecom, manufacturing, BFSI, and others.
North America to remain dominant, Asia-Pacific to grow the fastest
The market in North America contributed to more than two-fifths of the total market share in 2017 and is anticipated to continue its dominance during the forecast period. This is due to the increased funding by the U.S. government to accelerate research and development in quantum computing in the region. However, Asia-Pacific would grow at the fastest CAGR of 35.9% from 2018 to 2025, owing to vast research in enterprise quantum computing in Asian countries. For instance, China is building National Laboratory for Quantum Information Sciences in Hefei worth US$10 billion, which is anticipated to open by 2020. The other regions analyzed for the market study include Europe and LAMEA (Latin America, Middle East, and Africa).
Torchbearers of the industry
The key market players analyzed in the report include Alibaba Group, D-Wave Systems Inc., Google, Huawei Technologies Co., Ltd., International Business Management Corporation (IBM), ID Quantique, Intel Corporation, Microsoft, Rigetti & Co, Inc., and Toshiba Research Europe Ltd. These companies have implemented various strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to gain a stronghold in the industry.
Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree
Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
SOURCE Allied Market Research