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Quantum Computing Market - A comprehensive study by Key Players | International Business Machines, Intel, Google, Microsoft
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Quantum Computing Market - A comprehensive study by Key Players | International Business Machines, Intel, Google, Microsoft
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The Global Quantum Computing Market is expected to grow from USD 472 million in 2021 to USD 1,765 million by 2026, at a CAGR of 30.2%.
The early adoption of quantum computing in the banking and finance sector is expected to fuel the growth of the market globally. Other key factors contributing to the growth of the quantum computing market include rising investments by governments of different countries to carry out research and development activities related to quantum computing technology.
Several companies are focusing on the adoption of QCaaS post-COVID-19. This, in turn, is expected to contribute to the growth of the quantum computing market. However, stability and error correction issues is expected to restrain the growth of the market.
11 Best Quantum Computing Stocks to Buy Now
CBInsights defines quantum computing as the process of information that is represented by special quantum states. By tapping into quantum phenomena like “superposition” and “entanglement,” these machines handle information in a fundamentally different way to “classical” computers like smartphones, laptops, or even today’s most powerful supercomputers. Quantum computing has the power to solve critical computational problems across a wide array of services.
Quantum computing has become viable for the growth of a business and society as a whole. In an study by MarketWatch, The Global Quantum Computing Market was valued at $89 million in 2016 and is projected to reach $949 million by 2025, growing at a CAGR of 30% from 2017 to 2025. In a separate study by McKinsey, there will be an estimated 2,000 to 5,000 quantum computers worldwide by 2030. Automotive will be one of the primary sectors for quantum computing with a high impact
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The global Quantum Computing market is expected to reach at a remarkable value and to grow at a considerable CAGR over the forecast period i.e. 2021-2027. In the past years, the market has shown a significant growth rate and is projected to display a profitable growth in the upcoming years. The report offers a thorough analysis of key players active in the global Quantum Computing Market. Highlighting the operating business segments, product portfolio, business performance, and key strategic developments is offered. The major companies profiled in the Quantum Computing Market include names of key players among other prominent players. These players have adopted various business strategies including expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to gain and maintain a strong base within the industry.
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