Quantum Computing: Technologies and Global Markets to 2028

Report Highlights

The global quantum computing market reached $713.4 million in 2022, should reach $904.7 million by 2023 and $6.5 billion by 2028 with a compound annual growth rate (CAGR) of 48.1% during the forecast period of 2023-2028.

Report Includes

• 43 data tables and 45 additional tables
• An updated review of the global markets for quantum computing technologies
• Estimation of market size and analyses of global market trends, with data from 2022, estimates for 2023, and projections of compound annual growth rates (CAGRs) through 2028
• Evaluation and forecast the global quantum computing market size in dollar value terms, and corresponding market share analysis by offering, application, end-user industry and region
• Identification of the quantum computing technologies and products with the greatest commercial potential
• Coverage of recent advances in the quantum computing industries with environmental, social, and corporate governance (ESG) developments, and information on Japan’s first superconducting quantum computer launched by Nippon Telegraph and Telephone Corp. (NTT)
• Assessment of the key drivers and constraints that will shape the market for quantum computing over the next ten years and discussion on the upcoming market opportunities and areas of focus to forecast the market into various segments and sub-segments
• Identification of the companies best positioned to meet this demand because of their proprietary technologies, strategic alliances, or other advantages
• Review of the key patent grants and new technologies in the quantum computing sector
• Insight into the recent industry strategies, such as M&A deals, joint ventures, collaborations, and license agreements currently focused on quantum computing products and services
• Company profiles of major players within the industry, including Alphabet Inc. (Google LLC), Amazon.com Inc., International Business Machines (IBM) Corp., and Microsoft Corp.

Report Scope

In this report, the quantum computing market has been segmented based on offering, deployment, technology, application, end-user industry, and region. The report provides an overview of the global quantum computing market and analyzes market trends. Using 2022 as the base year, the report provides estimated market data for the forecast period 2023 through 2028.

Revenue forecasts for this period are segmented into:

• Offering: services and systems.
• Method of deployment: on-premises and cloud-based.
• Technology: trapped ions, quantum annealing, superconducting qubits, and others.
• Application: quantum-assisted optimization, quantum simulation and quantum-assisted machine learning.
• End-user industry: banking and finance, IT and telecom, healthcare and pharmaceuticals, space and defense, energy and power, transportation and logistics, academia, government, chemicals, and others.
• Region: North America is segmented into the U.S., Canada, and Mexico; Europe is segmented into the U.K., France, Germany, and Rest of Europe; the U.K. is further segmented into England, Wales, Scotland, and Northern Ireland; Asia-Pacific (APAC) is segmented into China, Japan, India, and Rest of Asia-Pacific; the Rest of World is segmented into the Middle East and Africa, and Latin America.

COVID-19 has had a massive impact on society since early 2020. This report considers the impact of COVID-19 and the economic slowdown it created. With people relying more on technology, the demand for quantum computing will increase and boost the market growth. The report also focuses on the major trends and challenges that affect the market and the vendor landscape.

This report has been prepared in a simple, easy-to-understand format, with numerous tables and charts/figures. The scope of the report includes a detailed study of global and regional markets for quantum computing, with reasons given for variations in the growth of the industry in certain regions. The report examines each component of quantum computing technology, determines its current market size, and estimates its future market. The report also analyzes the market from the manufacturers’ viewpoint as well as that of the final consumer. A number of technical issues arising out of the utilization of quantum computing technologies are discussed, and solutions are indicated.

Analyst Credentials

Masaratjahan Kudle – Associate Consultant – Technology Research
Masaratjahan Kudle is a highly skilled market research consultant with six years of experience in the technology domain. She has a strong background in data analysis and is highly skilled in gathering and interpreting market intelligence to drive business growth. Masaratjahan has worked with numerous clients throughout her career, helping them make informed decisions about their market strategies. She holds a Computer Science and Engineering degree.