Vancouver, British Columbia, Jan. 21, 2021 (GLOBE NEWSWIRE) — The global quantum computing for enterprise market is forecast to reach a market size of USD 3,907.4 Million by 2027, with a steady reveunue growth rate, according to a current analysis by Emergen Research. Growing need for simultaneous calculation of vast data volume has been resulting in rapidly inclining demand for and deployment of these solutions, which is a major factor driving growth of the global quantum computing for the enterprise market.
This trend is expected to continue to gain traction during the forecast period, thereby resulting steady increase in market size growth. In addition, rising need for optimal solutions to help to mitigate business related difficulties and improve business value is expected to further fuel growth of the global quantum computing for enterprise market during the forecast period. Growing application of quantum cryptography for digital payments is expected to fuel global quantum computing for enterprise market revenue growth during the forecast period.
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Concerns regarding breaking public-key encryption by quantum computing is a primary factor expected to hamper preference, and in turn impact growth of the global quantum computing for enterprise market to a certain extent over the forecast period.
Key Highlights in the Report
- Increasing adoption of hybrid quantum computing to handle complicated business challenges and computational difficulties, such as integer factorization with Rivest-Shamir-Adleman (RSA) encryption, is driving revenue growth of the hybrid quantum computing segment, which is expected to expand at a significantly high CAGR of 50.5% over the forecast period.
- Due to increasing use of quantum computing-based optimization in air traffic control and work scheduling, revenue from the optimization segment is projected to register steady growth over the forecast period.
- Growing utilization of quantum computing for drug discover is expected to result in significant high revenue growth for the healthcare segment over the forecast period.
- Due to increasing utilization of quantum computing applications in various growing industries such as healthcare, information technology, and logistics in countries in Asia Pacific, the market in the region is expected to register a significantly growth rate in terms of revenue during the forecast period.
- Key market participants include Google LLC, Baidu, Inc., Rigetti & Co., Inc., International Business Machines Corporation, Microsoft Corporation, Intel Corporation, Alibaba Group Holding Limited, Accenture plc, AT&T Inc., and Atos SE.
- In July 2018, Google LLC developed open-source software that can enable programmers to experiment with computer systems and the quantum processor of Google. Thus, Google made an easy approach to program quantum computers.
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Emergen Research has segmented the global quantum computing for enterprise market on the basis of component, deployment, application, end-use, and region.
- Component Outlook (Revenue, USD Million; 2020–2027)
- Input/Output Subsystem
- Dilution Refrigerator
- Quantum Processing Unit
- Support & Maintenance
- Deployment Outlook (Revenue, USD Million; 2020–2027)
- Cloud-based quantum computing
- Hybrid quantum computing
- On-premises quantum computing
- Application Outlook (Revenue, USD Million; 2020–2027)
- Machine learning
- End-use Outlook (Revenue, USD Million; 2020–2027)
- Information technology
- Life Science
- Oil& Gas
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- Regional Outlook (Revenue, USD Million; 2020–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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About Emergen Research
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