Optimization application held the largest size of quantum computing market for consulting solutions
[139 Pages Report] The overall quantum computing market is expected to grow from USD 93 million by 2019 to USD 283 million by 2024 at a CAGR of 24.9%. The QCaaS market is expected to grow from USD 4 million by 2019 to USD 13 million by 2024 at a CAGR of 26.8%. The need for robust computing that has the potential to overcome the difficulties involved in discovering drugs to target specific cancers and evaluating portfolio risk prominently contributes to the market growth.
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Automotive to lead quantum computing market for consulting solutions during forecast period
Among the end-user industries considered, space and defense is the largest contributor to the overall quantum computing market, and it is expected to account for a maximum share of the market in 2019. The need for secure communications and data transfer, with the demand in faster data operations, is expected to boost the demand for quantum computing consulting solutions in this industry. The market for the automotive industry is expected to grow at the highest CAGR from 2019 to 2024.
Material simulation application is expected to lead quantum computing market for consulting solutions during forecast period
The demand for optimization and material simulation applications on quantum computers is likely to increase rapidly in the coming years. The demand to solve complex problems with simultaneous operations, and simulate molecules and materials to gain an accurate output is helping these applications to find opportunities in end-user industries such as automotive, chemicals, energy and power, and healthcare. The extensive R&D and growth strategies adopted by the companies and research labs operating in the ecosystem are likely to foster the growth of the quantum computing market in the coming years.
D-Wave Systems Inc. (Canada) has state-of-the-art lab facilities and a strong focus on R&D activities for improving the productivity and cost-efficiency of this company. For inorganic growth, D-Wave Systems Inc. focuses on growing the number of partnerships and agreements to gain a stronger foothold in the quantum computing market and foster a quantum software ecosystem. D-Wave Systems Inc. has a partnership with Volkswagen AG (Germany); it is aimed at applying its quantum computing technology to Volkswagen’s real-world computing challenges. The company also focuses on R&D to maintain its leadership in the quantum computing market.
Rigetti Computing (US) caters to various industries—transportation and logistics, and chemicals—which are the key revenue pockets for the company. The company is focusing on an inorganic strategy of partnerships to grow in the market; it has partnerships with Fortune 50 companies and other industry leaders. Additionally, the company is also tapping the opportunities in different application areas of the quantum computing market. Rigetti Computing has offerings to address the core applications of quantum computing, such as optimization and machine learning. The company has considerable presence in North America and Europe, and these regions hold a significant customer base of quantum computing.
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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
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MarketsandMarkets™ INC.
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Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=144888301
Automotive to lead quantum computing market for consulting solutions during forecast period
Among the end-user industries considered, space and defense is the largest contributor to the overall quantum computing market, and it is expected to account for a maximum share of the market in 2019. The need for secure communications and data transfer, with the demand in faster data operations, is expected to boost the demand for quantum computing consulting solutions in this industry. The market for the automotive industry is expected to grow at the highest CAGR from 2019 to 2024.
Material simulation application is expected to lead quantum computing market for consulting solutions during forecast period
The demand for optimization and material simulation applications on quantum computers is likely to increase rapidly in the coming years. The demand to solve complex problems with simultaneous operations, and simulate molecules and materials to gain an accurate output is helping these applications to find opportunities in end-user industries such as automotive, chemicals, energy and power, and healthcare. The extensive R&D and growth strategies adopted by the companies and research labs operating in the ecosystem are likely to foster the growth of the quantum computing market in the coming years.
D-Wave Systems Inc. (Canada) has state-of-the-art lab facilities and a strong focus on R&D activities for improving the productivity and cost-efficiency of this company. For inorganic growth, D-Wave Systems Inc. focuses on growing the number of partnerships and agreements to gain a stronger foothold in the quantum computing market and foster a quantum software ecosystem. D-Wave Systems Inc. has a partnership with Volkswagen AG (Germany); it is aimed at applying its quantum computing technology to Volkswagen’s real-world computing challenges. The company also focuses on R&D to maintain its leadership in the quantum computing market.
Rigetti Computing (US) caters to various industries—transportation and logistics, and chemicals—which are the key revenue pockets for the company. The company is focusing on an inorganic strategy of partnerships to grow in the market; it has partnerships with Fortune 50 companies and other industry leaders. Additionally, the company is also tapping the opportunities in different application areas of the quantum computing market. Rigetti Computing has offerings to address the core applications of quantum computing, such as optimization and machine learning. The company has considerable presence in North America and Europe, and these regions hold a significant customer base of quantum computing.
https://www.marketsandmarkets.com/Market-Reports/quantum-computing-market-144888301.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
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