DUBLIN--(BUSINESS WIRE)--The "Quantum Computing Market by Revenue Source, Application (Simulation, Optimization, and Sampling), Industry (Defense, Banking & Finance, Energy & Power, Chemicals, and Healthcare & Pharmaceuticals), and Geography - Global Forecast to 2023" report has been added to Research and Markets' offering.
Quantum computing market expected to grow at a significant rate between 2017 and 2023
The quantum computing market is expected to grow at a CAGR of 29.04% between 2017 and 2023 and is expected to be valued at USD 495.3 million by 2023.
The key factors driving the growth of the quantum computing market are the rising incidences of cybercrime, early adoption of quantum computing technology in the automotive and defense industry, and increasing investments by government entities in the quantum computing market.
However, the major restraining factors for the growth of this market are presence of substitute technology and reluctance to accept new technology.
Defense industry accounted for the largest share of the quantum computing market in 2016
Quantum computing technology could play a significant role in defense and security; hence, the US Army, Navy, and Air Force are working together to establish a secure long-distance quantum communication network.
Moreover, Lockheed Martin Corporation (US), an American global aerospace, defense, and security company, has invested in quantum computing technology and purchased a quantum computer developed by D-Wave Systems Inc. (Canada) to test mission-critical software. Quantum computers have the ability to perform multiple operations simultaneously, which results in a faster resolution. Hence, governments are supporting the use of quantum computing technology in the defense industry.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Quantum Computing Market, By Revenue Source
7 Quantum Computing Market, By Application
8 Quantum Computing Market, By Industry
9 Geographic Analysis
10 Competitive Landscape
11 Company Profiles
- 1qb Information
- Anyon Systems Inc.
- Cambridge Quantum Computing Limited
- D-Wave Systems Inc.
- Google Inc.
- International Business Machines Corporation
- Magiq Technologies
- QC Ware
- Quantum Circuits
- Rigetti Computing
For more information about this report visit https://www.researchandmarkets.com/research/gkkwnt/quantum_computing