Quantum Computing Market Key Major Challenges, Drivers, Growth Opportunities Analysis to 2026

Kenneth Research has published a detailed report on Quantum Computing Market which has been categorized by market size, growth indicators and 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 2019-2026.

The report covers the forecast and analysis of the Quantum Computing Market on a global and regional level. The study provides historical data from 2015 to 2019 along with a forecast from 2019-2026 based on revenue (USD Million). In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Quantum Computing Market over the period 2019-2026.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

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“The report provides a unique tool for evaluating the Market, highlighting opportunities, and supporting strategic and tactical decision-making. This report recognizes that in this rapidly-evolving and competitive environment, up-to-date marketing information is essential to monitor performance and make critical decisions for growth and profitability. It provides information on trends and developments, and focuses on markets capacities and on the changing structure of the Quantum Computing.

The quantum annealing category held the largest share under the technology segment in 2019. This is attributed to successful overcoming of physical challenges to develop this technology and further incorporated in bigger systems. The BFSI category held the largest share in the quantum computing market in 2019. This is owing to the fact that the industry is growing positively across the globe, and large banks are focusing on investing in this potential technology that can enable them to streamline their business processes, along with unbeatable levels of security

Automotive to lead quantum computing market for consulting solutions during forecast period
Among the end-user industries considered, space and defense is the largest contributor to the overall quantum computing market, and it is expected to account for a maximum share of the market in 2019. The need for secure communications and data transfer, with the demand in faster data operations, is expected to boost the demand for quantum computing consulting solutions in this industry. The market for the automotive industry is expected to grow at the highest CAGR

Quantum computing can best be defined as the use of the attributes and principles of quantum mechanics to perform calculations and solve problems. The global market for quantum computing is being driven largely by the desire to increase the capability of modeling and simulating complex data, improve the efficiency or optimization of systems or processes, and solve problems with more precision. A quantum system can process and analyze all data simultaneously and then return the best solution, along with thousands of close alternatives – all within microseconds, according to a new report from Tractica.

2018 was a growth year for the market, as businesses from the BFSI sector showed tremendous interest in quantum computing and the trend is likely to continue in 2019 and beyond. Moreover, the public sector presents significant growth opportunity for the market. In the forthcoming years, the application opportunities for quantum computing is expected to expand further, which may lead to a higher commercial interest in the technology.

Market Segmentation
The report focuses on the following end-user sectors and applications for quantum computing:
By Based on offering
*Consulting solutions
*Systems

By End-user sectors
*Government.
*Academic.
*Healthcare.
*Military.
*Geology/energy.
*Information technology.
*Transport/logistics.
*Finance/economics.
*Meteorology.
*Chemicals.

By Applications
*Basic research.
*Quantum simulation.
*Optimization problems.
*Sampling.

By Regional Ananlysis
North America
*U.S.
*Canada

Europe
*Germany
*UK
*France
*Italy
*Spain
*Belgium
*Russia
*Netherlands
*Rest of Europe

Asia-Pacific
*China
*India
*Japan
*Korea
*Singapore
*Malaysia
*Indonesia
*Thailand
*Philippines
*Rest of Asia-Pacific

Latin America
*Brazil
*Mexico
*Argentina
*Rest of LATAM

Middle East & Africa
*UAE
*Saudi Arabia
*South Africa
*Rest of MEA

The quantum computing market is highly competitive with high strategic stakes and product differentiation. Some of the key market players include International Business Machines (IBM) Corporation, Telstra Corporation Limited, IonQ Inc., Silicon Quantum Computing, Huawei Investment & Holding Co. Ltd., Alphabet Inc., Rigetti & Co Inc., Microsoft Corporation, D-Wave Systems Inc., Zapata Computing Inc., and Intel Corporation.

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Competitive Analysis:
The Quantum Computing Market report examines competitive scenario by analyzing key players in the market. The company profiling of leading market players is included in this report with Porter’s five forces analysis and Value Chain analysis. Further, the strategies exercised by the companies for expansion of business through mergers, acquisitions, and other business development measures are discussed in the report. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market.

About Kenneth Research:

Kenneth Research is a reselling agency which focuses on multi-client market research database. The primary goal of the agency is to help industry professionals including various individuals and organizations gain an extra edge of competitiveness and help them identify the market trends and scope. The quality reports provided by the agency aims to make decision making easier for industry professionals and take firm decisions which helps them to form strategies after complete assessment of the market. Some of the industries under focus include healthcare & pharmaceuticals, ICT & Telecom, automotive and transportation, energy and power, chemicals, FMCG, food and beverages, aerospace and defense and others. Kenneth Research also focuses on strategic business consultancy services and offers a single platform for the best industry market research reports.

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Eli is a freelance writer and possess double graduation degree in physics and chemistry. She is an intense writer covering everything for Science and Tech to Business, Entertainment, Sports and Lifestyle.

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