Competitiveness of Quantum Computing companies is strongly linked to emerge as leader in upcoming future computer race

Date: 1 March 2020

According to a research report published by Azoth Analytics in January 2020, the Global Quantum Computing Market was valued at USD 101.12 Million in the year 2019. The Quantum Computing market is expected to grow tremendously during the forecast period. Emergence of Advance Applications, need for secure communication and digitization, faster than conventional computers are the key drivers of the market across the globe. Additionally, race to make Quantum computer commercially feasible will drive the Quantum Computing market value in the near future.

The Azoth Analytics research report Global QuantumComputing Market has analysed and segmented the Quantum Computing market by Value (USD Million). The report has further analysed the Quantum Computing market by Solution Type (Hardware, Software and Full Stack), By Application (Optimization, Simulation, Sampling, Machine learning) and By End User (Aerospace & Defense, BFSI, R&D, Healthcare, and Others). The Global Quantum Computing market has been analysed By Region (North Americas, Europe, Asia Pacific, and Rest of world) and By Country (United States, Canada, Germany, United Kingdom and China) for the historical period of 2015-2019 and the forecast period of 2020-2025.

The main growth in Quantum Computing market has been registered from North American countries in 2019. These nations are intensively investing on research and development of Quantum computers which is one of the largest factors to drive Quantum Computing market. Emergence of Advance Applications, need for secure communication and digitization, faster than conventional computers some of the driving factors which is anticipated to propel the market value in forecast period. 

Some of the factors such as race for quantum supremacy, demand of advance technology for new applications are expected to augment the market growth rate. Despite of Quantum computing being in its early stage, the development of quantum computer to solve problems that conventional computer cannot solve much faster and the benefits of Quantum Computing has put the Quantum Computing market among the most advanced computers competition arena. Additionally, the competitiveness of Quantum Computing companies is strongly linked to be a leader in upcoming future computer race which is making every country to invest in this sector. In order to face its North American competitors, the European, Asian companies have adopted a clear specialization strategy in higher value-added and technologically advanced Quantum computer which is infusing the market growth rate.

The driving factor for the Quantum Computing market during the historical period was also the urge to develop new technology and become leader globally. And the need of much faster computer to make new applications more accessible was the primary reason for the introduction of Quantum computing and large investment in research and development.

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