Quantum computing applications span various domains, such as cryptography, optimization, material science, and drug discovery. Key features include superposition, where quantum bits (qubits) can represent multiple states simultaneously, and entanglement, allowing qubits to be inherently interconnected. These unique properties grant quantum computers the potential to tackle complex problems exponentially faster than classical computers, revolutionizing industries and driving breakthroughs in science, technology, and beyond.
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Data Bridge Market Research analyses that the Europe Quantum Computing Market is valued at USD 110.36 million in 2022 and is expected to reach USD 878.32 million by 2030, registering a CAGR of 29.60% during the forecast period of 2023 to 2030. Continuous developments in quantum hardware, software, and algorithms enhance computing capabilities, attracting increased interest from researchers, industries, and governments, thus drives the market’s growth.
Key Findings of the Study
Increasing investment is expected to drive the market's growth rate
The quantum computing market is experiencing accelerated growth due to increasing investments from both the public and private sectors. These substantial financial commitments are driving research and development efforts in the field, facilitating advancements in quantum hardware, software, and algorithms. As a result, the commercialization of quantum computing technologies is progressing at a rapid pace. With the support of these investments, companies and researchers are moving closer to achieving practical and commercially viable quantum computing solutions, unlocking the potential for revolutionary computing power.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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System (Single Qubit Quantum System, Multiple Qubit System), Qubits (Trapped Ion Qubits, Semiconductor Qubits, and Super Conducting), Offering (Systems, Services), Deployment Model (On-Premises, Cloud), Component (Hardware, Software, and Services), Application (Cryptography, Simulation, Parallelism, Machine Learning, Algorithms, Others), Logic Gates (Toffoli Gate, Hadamard Gate, Pauli Logic Gates and Others), Verticals (Banking And Finance, Healthcare and Pharmaceuticals, Defense, Automotive, Chemical, Utilities, Others)
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Countries Covered
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Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe
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Market Players Covered
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Honeywell International, Inc. (U.S.), Accenture (Ireland), Fujitsu (Japan), Rigetti & Co, Inc. (U.S.), 1QB Information Technologies, Inc. (Canada), IonQ (U.S.), Atom Computing, Inc. (U.S.), ID Quantique (Switzerland), QuintessenceLabs (Australia), Toshiba Research Europe Ltd. (U.K.), Microsoft (U.S.), Magiq Technologies, Inc. (U.S.), NEC Corporation (Japan), Anyon System Inc. (Canada), CAMBRIDGE QUANTUM COMPUTING LTD (U.K.), QCWare (U.S.), and Intel Corporation (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
The Europe quantum computing market is segmented on the basis of system, qubits, offering, deployment model, component, application, logic gates, and verticals.
- On the basis of system, the Europe quantum computing market is segmented into single qubit quantum system, multiple qubit system.
- On the basis of qubits, the Europe quantum computing market is segmented into trapped ion qubits, semiconductor qubits and super conducting.
- On the basis of offering, the Europe quantum computing market is segmented into systems, services.
- On the basis of deployment mode, the Europe quantum computing market is segmented into on-premises, cloud.
- On the basis of component, the Europe quantum computing market is segmented into hardware, software and services.
- On the basis of application, the Europe quantum computing market is segmented into cryptography, simulation, parallelism, machine learning, algorithms, others.
- On the basis of logic gates the market is segmented into toffoli gate, hadamard gate, pauli logic gates, and others.
- On the basis of verticals the market is segmented into banking and finance, healthcare and pharmaceuticals, defense, automotive, chemical, utilities, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the major Europe quantum computing market players in Europe quantum computing market are Honeywell International, Inc. (U.S.), Accenture (Ireland), Fujitsu (Japan), Rigetti & Co, Inc. (U.S.), 1QB Information Technologies, Inc. (Canada)
Market Developments
- In April 2019, IBM Corporation has partnered with several universities, including Stony Brook University and Florida State University, for extended quantum computing research. Additionally, collaborations with the University of Tokyo, the University of Notre Dame, and Virginia Tech will allow students to work on IBM quantum computing systems for research projects and teaching purposes.
- In November 2022, Microsoft (US) has introduced the Azure Quantum Resource Estimator, a valuable tool aimed at aiding quantum algorithm developers in designing and optimizing algorithms for upcoming quantum computers. With this resource estimator, developers can better understand and estimate the required quantum resources, allowing them to develop more efficient and effective algorithms that will run on future quantum computing platforms
- In September 2022, Intel (US) has released the Intel Quantum SDK, providing developers with a platform to create innovative quantum algorithms. The SDK facilitates the development and testing of these algorithms using simulations and is designed to be compatible with future quantum hardware for executing qubits.
- In May 2022, Quantinuum (US) unveiled InQuanto, an advanced quantum computational chemistry software platform. InQuanto simplifies the process for computational chemists to experiment with numerous quantum algorithms on existing quantum computers.
Regional Analysis
Geographically, the countries covered in the Europe quantum computing market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe
As per Data Bridge Market Research analysis:
Germany is the dominant region in the quantum computing market during the forecast period 2023 - 2030
In 2023, North America dominated the quantum computing market due to the government's incentives for collaboration among start-ups encouraging innovative partnerships and the pooling of resources, talent, and expertise. This collaborative approach not only accelerates the development of quantum computing but also enables start-ups to access valuable resources and expertise, ultimately driving the growth of the quantum computing industry and benefiting society as a whole.
France is dominating after Germany during the forecast period of 2023 to 2030
In 2023, France is expected to witness significant growth due to strategies outlining clear goals and initiatives to support research, development, and commercialization of quantum technologies. By prioritizing quantum technologies as a national agenda, the government is directing funding, resources, and expertise toward this emerging field. This concerted effort not only boosts innovation and competitiveness but also accelerates the integration of quantum technologies into various sectors, paving the way for transformative advancements and economic growth on a national scale.
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