Quantum Computing Market by Industry (Defense, Banking & Finance, Energy & Power) and Geography - Global Forecast to 2023

The quantum computing market is in its nascent stage; hence, there are very limited industry players present in this market. This market is expected to grow at a CAGR of 29.04% during the forecast period.

Investments and partnerships/collaborations have been the key strategies adopted by the market players to grow in the quantum computing market. Both the strategies accounted for a share of ~26% and ~34% respectively, of the overall growth strategies adopted by the market players between January 2015 and March 2017.

The increasing concerns to manufacture the hardware and software for quantum computing applications have encouraged the companies to adopt this strategy. Besides investments and partnerships/collaborations, the companies have also adopted the strategies of product launches and agreements to expand their business operations, product portfolio, and distribution network, as well as strengthen their position and increase their share in this market.

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D-Wave Systems Inc. (Canada) is one of the leading manufacturers of hardware and software for quantum computing applications. The company provides industry-specific services to industries such as defense, chemicals, and several other government/private consortiums. D-Wave Systems Inc. has achieved a leadership position in the quantum computing market by developing and deploying cutting-edge technologies and gaining outstanding customer support globally. By the end of 2017, the company is expected to provide quantum computer of 2000 qubits to its customers. As of 2016, Lockheed Martin Corporation (US), QuAIL-Google, NASA, USRA Collaboration (US), Los Alamos National Laboratory (US), Volkswagen AG ( Germany), and Temporal Defense System Inc. (US) are few key customers of D-Wave Systems Inc.

1QB Information Technologies Inc. (Canada) is one the leading companies that provides quantum software solutions to its users worldwide. The company was founded by a group of intellectually curious entrepreneurs and researchers during the primary stages of quantum computing in 2012. The company is based in Vancouver, Canada. The company offers consulting services to various industries such as finance, energy, and life sciences. Moreover, the company offers an Application Programming Interface (API), which is built on a hardware-agnostic platform to help users solve the complexities while interfacing with multiple types of hardware. 

Furthermore, the company works with Fortune 500 clients along with various leading hardware providers to solve industry problems in the application areas of optimization, simulation, and machine learning.

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