Quantum Computing Software Market Size, Share and Global Market Forecast to 2028

 

Quantum Computing Software Market

The Quantum Computing Software market is projected to reach USD 456 Million by 2028, growing at a CAGR of 30.5% during the forecast period (2021-2028).

The factors driving the growth of Quantum Computing Software Market includes growing demand for quantum computing solutions in end-use industries such as Healthcare, Defense and BFSI and rising investments by private players for developing advanced quantum computing software. Moreover, the increasing Government expenditure for developing quantum computing research center, is further boosting the Quantum Computing Software Market Size, for instance the Government of United States plans to invest US$1.2 billion in quantum information research as per the National Quantum Initiative Act, this law was passed in December 2018 (NQI). In addition, the growing application of quantum computing for managing financial risks, improving customer experience, and increasing number of fraudulent activities around the world, are boosting the growth of Quantum Computing Software Market.

However, the growth of Quantum Computing Software Market is hindered due to high production cost and easy availability of substitute products.

The leading players operating in the market includes Quantastica, Rahko, BM, Microsoft, Huawei Technologies Co., Ltd., Cambridge Quantum, Fujitsu, Riverlane, Accenture plc and VeriQloud among others.

Organization Size – Segment Analysis

Based on organization size, the Small and Medium Enterprises segment is anticipated to grow at significant rate over the forecast period due to increasing adoption of cloud computing for reducing the operational cost and solving complex optimization problems.

Application – Segment Analysis

Based on application, the Machine learning segment is expected to expand at a higher CAGR during the forecast period due to increasing use of machine learning in clinical research

End-Use Segment Analysis

Based on End-Use, the Healthcare & life sciences segment is projected to capture the highest market share over the forecast period attributed to the integration of quantum sensors in magnetic resonance imaging (MRI).

Regional: Segment Analysis

Based on the region, North America is predicted to grow at remarkable CAGR during the forecast period. The presence of key manufacturers such as Amazon and D-Wave Systems, increasing demand for quantum computing in various industries such as BFSI and Defense and rising investments by Government authorities and Private Players, are some of the factors enhancing the market’s growth in North American region.

Market Segmentation

Global Quantum Computing Software Market by Organization Size

  • Large Enterprises
  • SMEs

Global Quantum Computing Software Market by Application

  • Machine Learning
  • Simulation
  • Optimization
  • Others

Global Quantum Computing Software Market by Component

  • Services
  • Consulting Services
  • Solutions
  • Quantum as a Service

Global Quantum Computing Software Market by End Use

  • Healthcare & Life Sciences
  • BFSI
  • Chemical
  • Transportation & Logistics, Government
  • Education
  • Aerospace & Defense
  • Others

Global Quantum Computing Software Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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