Global Quantum Computing Market Research Report 2023-2028: Industry Impacts, Capabilities, Quantum vs. Classical Computing, Technology Development, Use Cases, Competitive Analysis

Dublin, Oct. 12, 2023 (GLOBE NEWSWIRE) — The “Quantum Computing Market by Technology, Infrastructure, Services, and Industry Verticals 2023 – 2028” report has been added to ResearchAndMarkets.com’s offering.

This report assesses the technology, organizations, R&D efforts, and potential solutions facilitated by quantum computing. The report provides global and regional forecasts as well as the outlook for quantum computing impact on infrastructure including hardware, software, applications, and services from 2023 to 2028. This includes the quantum computing market across major industry verticals.

Quantum Computing Industry Impact

The implications for data processing, communications, digital commerce and security, and the internet as a whole cannot be overstated as quantum computing is poised to radically transform the ICT sector. In addition, quantum computing will disrupt entire industries ranging from government and defense to logistics and manufacturing. No industry vertical will be immune to the potential impact of quantum computing. Every industry must pay great attention to technology developments, implementation, integration, and market impacts.

Quantum Computing Capabilities

While classical (non-quantum) computers make the modern digital world possible, there are many tasks that cannot be solved using conventional computational methods. This is because of limitations in processing power. For example, fourth-generation computers cannot perform multiple computations at one time with one processor.

Whereas parallel computing is achieved in classical computers via linking processors together, quantum computers may conduct multiple computations with a single processor. This is referred to as quantum parallelism and is a major difference between hyper-fast quantum computers and speed-limited classical computers.

Physical phenomena at the nanoscale indicate that a quantum computer is capable of computational feats that are orders of magnitude greater than conventional methods. This is due to the use of something referred to as a quantum bit (qubit), which may exist as a zero or one (as in classical computing) or may exist in two-states simultaneously (0 and 1 at the same time) due to the superposition principle of quantum physics. This enables greater processing power than the normal binary (zero only or one only) representation of data.

Quantum vs. Classical Computing

High-performance computing (HPC) refers to high-speed computation provided via a supercomputer or via parallel processing techniques such as leveraging clusters of computers to aggregate computing power. HPC is well-suited for applications that require high-performance data computation and analysis such as high-frequency trading, autonomous vehicles, genomics-based personalized medicine, computer-aided design, deep learning, and more.

While quantum computing does not utilize a faster clock-speed than classical computing, it is much faster than traditional computing infrastructure for solving certain problems as quantum computers can handle exponentially larger data sets. Accordingly, quantum computing is well-positioned to support certain industry verticals and solve specific problems such as cybersecurity and cryptocurrencies that rely upon prime factorings such as cryptology and blockchain-dependent solutions.

Quantum Computing Technology Development

While there is great promise for quantum computing, it remains largely in the research and development (R&D) stage as companies, universities, and research organizations seek to solve some of the practical problems for commercialization such as how to keep a qubit stable. The stability problem is due to molecules always being in motion, even if that motion is merely a small vibration. When qubits are disturbed, a condition referred to as decoherence occurs, rendering computing results unpredictable or even useless. One of the potential solutions is to use super-cooling methods such as cryogenics.

Some say there is a need to reach absolute zero (the temperature at which all molecular motion ceases), but that is a theoretical temperature that is practically impossible to reach and maintain, requiring enormous amounts of energy. There are some room-temperature quantum computers in R&D using photonic qubits, but nothing is yet scalable. Some experts say that if the qubit energy level is high enough, cryogenic-type cooling is not a requirement.

Alternatives include ion trap quantum computing and other methods to achieve very cold super-cooled small-scale demonstration-level computing platforms. There are additional issues involved with implementing and operating quantum computing. In terms of maintenance, quantum systems must be kept at subzero temperatures to keep the qubits stable, which creates trouble for people working with them and expensive, energy-consuming equipment to support.

Once these issues are overcome, we anticipate that quantum computing will become more mainstream for solving specific types of problems. However, there will remain general-purpose computing problems that must be solved with classical computing. In fact, we anticipate the development of solutions that involve quantum and classical CPUs on the same computing platform, which will be capable of solving combined general purpose and use case-specific computation problems.

These next-generation computing systems will provide the best of both worlds, which will be high-speed, general-purpose computing combined with use case-specific ultra-performance for certain tasks that will remain outside the range of binary computation for the foreseeable future.

Select Report Findings:

• The global market for QC hardware will exceed $9.1 billion by 2028
• Leading application areas are simulation, optimization, and sampling
• Managed services will reach $328 million by 2028 with a CAGR of 47.3%
• Key professional services will be deployment, maintenance, and consulting
• QC based on superconducting (cooling) loops tech will reach $4.5B by 2028
• Fastest growing industry verticals will be government, energy, and transportation

Quantum Computing Use Cases

• Quantum Computing in Pharmaceuticals
• Applying Quantum Technology to Financial Problems
• Accelerate Autonomous Vehicles with Quantum AI
• Car Manufacturers Using Quantum Computing
• Accelerating Advanced Computing for NASA Missions

Company Analysis

• D-Wave Systems Inc.
• Google Inc.
• Microsoft Corporation
• IBM Corporation
• Intel Corporation
• Nokia Corporation
• Toshiba Corporation
• Raytheon Company

Other Companies

• 1QB Information Technologies Inc.
• Cambridge Quantum Computing Ltd.
• QC Ware Corp.
• MagiQ Technologies Inc.
• Rigetti Computing
• Anyon Systems Inc.
• Quantum Circuits Inc.
• Hewlett Packard Enterprise
• Fujitsu Ltd.
• NEC Corporation
• SK Telecom
• Lockheed Martin Corporation
• NTT Docomo Inc.
• Alibaba Group Holding Limited
• Booz Allen Hamilton Inc.
• Airbus Group
• Amgen Inc.
• Biogen Inc.
• BT Group
• Mitsubishi Electric Corp.
• Volkswagen AG
• KPN

Ecosystem Contributors

• Agilent Technologies
• Artiste-qb.net
• Avago Technologies
• Ciena Corporation
• Eagle Power Technologies Inc
• Emcore Corporation
• Enablence Technologies
• Entanglement Partners
• Fathom Computing
• Alpine Quantum Technologies GmbH
• Atom Computing
• Black Brane Systems
• Delft Circuits
• EeroQ
• Everettian Technologies
• EvolutionQ
• H-Bar Consultants
• Horizon Quantum Computing
• ID Quantique
• InfiniQuant
• IonQ
• ISARA
• KETS Quantum Security
• Magiq
• MDR Corporation
• Nordic Quantum Computing Group
• Oxford Quantum Circuits
• Post-Quantum (PQ Solutions)
• ProteinQure
• PsiQuantum
• Q&I
• Qasky
• QbitLogic
• Q-Ctrl
• Qilimanjaro Quantum Hub
• Qindom
• Qnami
• QSpice Labs
• Qu & Co
• Quandela
• Quantika
• Quantum Benchmark Inc.
• Quantum Circuits Inc.
• Quantum Factory GmbH
• QuantumCTek
• Quantum Motion Technologies
• QuantumX
• Qubitekk
• Qubitera LLC
• Quintessence Labs
• Qulab
• Qunnect
• QuNu Labs
• River Lane Research
• SeeQC
• Silicon Quantum Computing
• Sparrow Quantum
• Strangeworks
• Tokyo Quantum Computing
• TundraSystems Global Ltd.
• Turing
• Xanadu
• Zapata Computing
• Accenture
• Atos Quantum
• Baidu
• Northrop Grumman
• Quantum Computing Inc.
• Keysight Technologies
• Nano-Meta Technologies
• Optalysys Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/ddu9zv

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