The Quantum Computing Market is expected to grow from USD 95 million by 2020 to USD 283 million by 2024 at a CAGR of 24.9% in 2020 and projected at a CAGR of 27.2% by 2024 year.
Quantum computing makes use of what are referred to as quantum bits, making them more powerful than conventional computers. Among other things, this enables very secure encryption techniques for data transmission on the Internet.
Major Players in the market involves Hewlett Packard, Alibaba Quantum Computing Laboratory, Booz Allen Hamilton Inc., QxBranch, SPARROW QUANTUM A/S, SeeQC, Quantum Circuits, Inc., Anyon Systems Inc, and Rigetti Computing, Toshiba Research Europe Ltd. Merck Venture Arm Invests in Quantum Computing Startup Seeqc.
Oct 2020- Jonathan Home and his co-workers at the Institute for Quantum Electronics Researchers have demonstrated a new technique for carrying out sensitive quantum operations on atoms. In this technique, the control laser light is delivered directly inside a chip. This should make it possible to build large-scale quantum computers based on trapped atoms.
Nov 2020-ZDNet’s contributing writer Tiernan Ray explained that quantum computing now is a bit like SQL was in the late 80s: Wild and wooly and full of promise. He warns, “Just thinking you will drop this shiny new thing called quantum into your data center is naive” and advises that most of the work of quantum today is not writing pretty algorithms, it’s just making sure data is not junk. The present moment in time in the young field of quantum sounds a bit like the early days of microcomputer-based relational databases.
In Oct 2020, Researchers from Trinity College Dublin have discovered a uniquely quantum effect in erasing information that may have significant implications for the design of quantum computing chips. Their surprising discovery brings back to life the paradoxical "Maxwell's demon," which has tormented physicists for over 150 years.
Feb 2020-Booz Allen Hamilton Inc., for the past 6 years, the company’s quantum computing research group has brought their expertise to businesses and organizations considering the adoption of quantum technology. They wanted to get their insight on quantum computing its present and its future.
Sept 2020- IBM announced a “road map” for the development of its quantum computers, including the ambitious goal of building one containing 1000 qubits by 2023. IBM’s current largest quantum computer, revealed this month, contains 65 qubits. The plan includes building intermediate-size machines of 127 and 433 qubits in 2021 and 2022, respectively, and envisions following up with a million-qubit machine at some unspecified date.
Market segmented by type of system, application and Region. By system it includes single Qubit Quantum system Market and multiple Qubit System market. By Application it has divided into Optimization, Machine Learning and Material Simulation. By Region it has segmented into North America, Europe, Asia-Pacific and Middle East & Africa. By year of 2030 Europe and North America are expected to register more than 78.50% in the Quantum market. As U.S, The U.K and Canada are large number of investing growth in the market where APAC has largest growth in CAGR during a Forecast period. Several industries have recorded continuous growth in countries like India, Japan and china.
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