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Quantum computing make use of significant subatomic particle capability to be present in more than one state at any given point of time. Due to the peculiar behavior of these particles, processing can be done in a faster manner and with minimal power requirement than traditional computers. Traditional computers encode information in bits with the values 1 or 0. These values act as on/off switches that eventually drive computer functions. On the other hand, quantum computing uses quantum bits i.e. qubit. However, they can store more information than 1s or 0s. It works on the two very important principles of quantum physics i.e. entanglement and superposition. When each qubit can represent both a 1 and a 0 at the same time, it is known as superposition. Furthermore, if the state of one bit (whether it is a 0 or a 1) can depend on the state of another bit, it is known as entanglement. Quantum computers are significantly powerful and processes information in a novel way.

Increasing cybercrimes across the globe and growing implementation of quantum computing technology across the banking & finance, defense, pharmaceuticals, chemicals, and healthcare markets is expected to drive the global quantum computing market. Governments of various countries are investing in quantum computing technology to expand their knowledge base related to quantum computing technologies. The increasing government investment to develop quantum computing solutions is projected to support the growth of the global quantum computing market. For instance, the European Commission plans to launch a US$ 1.1 billion initiative in 2018 on quantum technologies. This will help Europe to be at the forefront of the second quantum revolution. Furthermore, in 2017, Chinese e-commerce giant Alibaba disclosed that it is planning a US$ 15 billion investment in R&D projects. This investment is part of the company’s DAMO (Discovery, Adventure, Momentum, and Outlook) Academy, and will include the opening of new labs, to be located in different places such as Singapore, Moscow, Seattle, China, and California.

Shortage of desired skillsets for quantum computing can hamper the growth of this market globally. However, with rising government investment and intervention, quantum computing is expected to overcome this restraint. For instance, the New South Wales (NSW) government announced funds of US$ 26 million for the development of quantum computing and this is anticipated to help NSW become a global hub for innovative training in the field of quantum computing.

The quantum computing market can be segmented based on components, end-use industry, and regions. On the basis of component, the market can be segmented into hardware, software, and services. In terms of end-use industry, the market can be segmented into banking & finance, defense, pharmaceuticals, chemicals, and others.

Geographically, the quantum computing market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America and Europe are expected to lead due to the growing government investment in the field of quantum computing. However, the market in Asia Pacific is expected to expand at a significant pace due to the increasing research and development activities across emerging economies such as China, India, and Japan.

Some of the key players in the quantum computing market are IBM Corporation, D-Wave Systems Inc., Booz Allen Hamilton Inc., Hewlett Packard Enterprise Development LP, Toshiba Research Europe Ltd., QbitLogic, Alibaba Group Holding Limited, SPARROW QUANTUM, Qubitekk, Inc., Tokyo Quantum Computing, Cambridge Quantum Computing Ltd, Anyon Systems Inc., 1QB Information Technologies Inc., Rigetti & Co, Inc., and more

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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