What Factors Propelled The Growth Of The Enterprise Quantum Computing Market In The Past?
The enterprise quantum computing market has seen considerable growth due to a variety of factors.
• In recent times, there has been tremendous growth in the size of the enterprise quantum computing market. The market, currently worth $3.76 billion in 2024, is predicted to surge to $4.79 billion in 2025, registering a compound annual growth rate (CAGR) of 27.6%.
The growth during the historic period can be traced back to factors like increased investments in quantum computing technology, the rise in the number of experts in the field, establishement of a regulatory framework, heightened international cooperation, and escalating climate issues.
What is the Forecasted Market Size and CAGR for the Enterprise Quantum Computing Market?
The enterprise quantum computing market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the enterprise quantum computing market is predicted to experience remarkable growth in the upcoming years. By 2029, it is estimated to reach $14.38 billion, with a Compound Annual Growth Rate (CAGR) of 31.6%.
The growth during this prediction period can be linked to the surge in gaming, aerospace development, the rising demand in financial trading, agricultural processes, and an increase in manufacturing processes. Noteworthy trends expected during this period include subscription-based quantum computing, integration of quantum AI, quantum-inspired optimization, artificial reality, and the integration of blockchain.
What Factors Are Driving Growth In The Enterprise Quantum Computing Market?
The surge in cloud computing application is anticipated to fuel the expansion of the quantum computing market in the enterprise sector. Cloud computing is a framework that offers versatile, practical, on-demand network availability to an adaptable pool of computing resources that are swiftly deployable and releasable without the need for administration or service provider interaction. The adoption of enterprise quantum computing enables companies to enhance investment strategies, boost encryption, innovate products, and perform other diverse functions. For instance, Zippia, an American company offering online recruitment solutions, reported that 94% of American businesses used cloud computing and this technology constituted 67% of American business infrastructure in 2022. Consequently, the rising application of cloud computing will stimulate the quantum computing market growth in the enterprise segment.
What Are The Principal Market Segments In The Global Enterprise Quantum Computing Healthcare Industry?
The enterprise quantum computing market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Deployment Mode: On-Premise, Cloud
3) By Technology: Quantum Annealing, Superconducting, Trapped Ion, Quantum Dot, Other Technologies
4) By Application: Machine Learning/Deep Learning/AI, Optimization, Simulation And Data Modelling, Cyber Security, Other Applications
5) By Industry Vertical: Healthcare And Life sciences, IT And Telecom, Manufacturing, BFSI, Energy And Utilities, Aerospace And Defense, Other Industries
Subsegments:
1) By Hardware: Quantum Processors, Quantum Chips, Quantum Sensors, Quantum Communication Devices, Cryogenic Systems
2) By Software: Quantum Programming Languages, Quantum Development Kits, Quantum Algorithms And Libraries, Quantum Simulation Software, Quantum Security Software
3) By Services: Consulting Services, Integration Services, Support And Maintenance Services, Training And Education Services, Cloud-based Quantum Computing Services
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Which Emerging Market Trends Are Altering The Enterprise Quantum Computing
Major players in the enterprise quantum computing industry are concentrating their efforts on launching quantum computing platforms for commercial applications. These platforms are designed to be easy to use and readily accessible, enabling organizations to create and apply quantum algorithms without the need for a deep understanding of quantum mechanics. For example, OQC (Oxford Quantum Circuits), a quantum computing firm based in the UK, rolled out OQC Toshiko in November 2023, marking the debut of the world's first enterprise-grade quantum platform. OQC Toshiko is specially designed to offer high-performing quantum computing features suited for business applications. The platform, equipped with advanced quantum processors and a user-friendly interface, makes it simple for organizations to craft and apply quantum algorithms. With its sturdy design, OQC Toshiko allows industries to address intricate problems in multiple sectors like finance, pharmaceuticals, and logistics. Furthermore, it accommodates hybrid quantum-classical computing, ensuring smooth incorporation with current IT systems.
Who Are the Key Players in the Enterprise Quantum Computing Market?
Major companies operating in the enterprise quantum computing market include:
• Huawei Technologies Co. Ltd.
• Google LLC
• Microsoft Corp.
• Alibaba Group Holding Limited
• Amazon Web Services Inc.
• Lockheed Martin Corp.
• IBM Corporation
• Deloitte Touche Tohmatsu Limited
• KPMG International Cooperative
• NXP Semiconductors NV.
• Booz Allen Hamilton Corp.
• Reply S.p.A
• Honeywell Quantum Solutions
• Quantum Technology
• PsiQuantum Inc.
• D-Wave Systems Inc.
• 1QBit Information Technologies Inc.
• Terra Quantum AG
• Zapata Computing Inc.
• Rigetti Computing Inc.
• IonQ Inc.
• Classiq Technologies Inc.
• Phasecraft Ltd.
• Cambridge Quantum Computing
• Xanadu Quantum Technologies Inc.
• Aegiq Inc.
• QuantrolOx Ltd.
• QMWare Inc.
• Archer Materials Limited
What are the Regional Insights into the Enterprise Quantum Computing Market?
North America was the largest region in the enterprise quantum computing market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise quantum computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
