What Is The Overview Of The Global Quantum Artificial Intelligence (AI) Market?
Quantum artificial intelligence (AI) is the integration of quantum computing and artificial intelligence (AI), leveraging the principles of quantum mechanics to enhance AI capabilities. Quantum computers process information at the quantum level, enabling them to handle complex computations exponentially faster than classical computers. These applications aim to tackle challenges that are currently infeasible for classical AI systems, offering unprecedented advancements across various industries.
Quantum Artificial Intelligence (AI) Global Market Report 2024 provides data on the global quantum artificial intelligence (ai) market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Quantum Artificial Intelligence (AI) market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Forecasted Market Size And Growth Rates For Global Quantum Artificial Intelligence (AI)?
The quantum AI market has experienced rapid growth in recent years, expanding from $0.21 billion in 2023 to $0.29 billion in 2024, with a compound annual growth rate (CAGR) of 38.7%. This growth is driven by the global adoption of quantum-safe security measures, collaborative efforts between quantum computing and AI research communities, exploration of quantum machine learning algorithms, government initiatives and funding, and increasing demand for advanced computing solutions. Looking ahead, the market is projected to grow significantly, reaching $1.07 billion by 2028 at a CAGR of 38.8%. This future expansion is attributed to the rising need for quantum-safe AI security, integration of quantum computing into cloud services, advancements in quantum hardware and qubit stability, increased use of quantum cloud services and quantum as a service (QaaS), and ongoing advancements in quantum hardware components. Major trends expected in the forecast period include advancements in quantum computing technology, progress in quantum AI technologies, collaborative initiatives, cloud-based deployments, and the development of quantum neural networks.
What Factors Are Driving Growth In The Quantum Artificial Intelligence (AI) Market?
The increasing number of data breaches is projected to drive the growth of the quantum AI market. Data breaches involve unauthorized access, theft, or misuse of sensitive, protected, or confidential data. The rise of the Internet of Things (IoT) and connected devices across various industries has expanded the number of potential entry points for cyber attacks, making comprehensive endpoint security more challenging. Quantum AI offers solutions to mitigate data breaches by improving encryption, enabling secure communication, enhancing threat detection, strengthening authentication, and verifying data integrity. For example, in May 2024, the Information Commissioner's Office reported that cyber-related incidents represented 25.9% of personal data breaches from 2022 to 2023, marking a 32.5% increase. Therefore, the growing frequency of data breaches is expected to drive the growth of the quantum AI market.
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What Are The Main Segments Of The Global Quantum Artificial Intelligence (AI) Market?
The quantum artificial intelligence (AI) market covered in this report is segmented –
1) By Component: Software, Hardware, Services
2) By Deployment Model: Cloud-Based, On-Premises
3) By Application: Machine Learning And Optimization, Cryptography And Security, Simulation And Modeling, Other Applications
What Emerging Trends Are Influencing The Growth Of The Quantum Artificial Intelligence (AI) Market?
Companies in the quantum AI market are developing quantum processors to enhance the capabilities of quantum AI systems. Quantum processors are essential for performing complex calculations and simulations in quantum AI. For instance, in November 2021, IBM launched the Quantum Eagle, a 127-qubit quantum processor designed to push the boundaries of quantum computing research and enable more advanced AI algorithms. Quantum Eagle features improved qubit coherence and connectivity, and advanced error correction, making it suitable for complex tasks like optimization, machine learning, and simulation, marking a significant advancement with its more than 100 operational qubits.
What Is The Largest Region In The Quantum Artificial Intelligence (AI) Market?
North America was the largest region in the quantum AI market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the quantum artificial intelligence (AI) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
