- In November 2023, Terra Quantum, a leading quantum service provider, announced a strategic partnership with NVIDIA to develop quantum-accelerated applications. This collaboration aims to bridge the divide between classical and quantum computing by leveraging hybrid algorithms, combining the strengths of both technologies. The partnership is expected to accelerate the development of quantum computing solutions for practical applications, benefiting various industries by providing faster, more efficient computational models
- In October 2023, Fujitsu, in partnership with RIKEN, introduced a groundbreaking AI drug discovery technology that integrates the power of Fujitsu’s newly developed 64-qubit superconducting quantum computer. This technology offers an innovative platform for businesses and research institutions, enabling them to significantly improve the efficiency and effectiveness of drug discovery. The collaboration demonstrates the potential of quantum computing to revolutionize the pharmaceutical industry and accelerate the development of new treatments
- In September 2023, Xanadu, a leading quantum technology company, formed a partnership with the Electronics and Telecommunications Research Institute (ETRI) to push the boundaries of computing technologies. The collaboration focuses on utilizing machine learning and artificial intelligence (AI) to enhance quantum computing research and development. By combining expertise from both organizations, the partnership aims to make significant strides in quantum computing applications and further integrate AI in emerging technologies
- In April 2023, IBM Corporation entered into a collaborative agreement with Moderna, Inc., a leader in mRNA vaccine technology, to enhance quantum computing and artificial intelligence (AI) capabilities. Moderna’s investment in these emerging technologies will advance mRNA research, enabling more efficient vaccine development and improving overall public health efforts. This partnership highlights the growing role of quantum computing in biotechnology, particularly in accelerating the development of medical innovations
- In November 2022, IBM joined forces with Vodafone to enhance quantum-safe cybersecurity through a collaboration in the IBM Quantum Network. The partnership aims to explore and validate potential quantum computing applications within the telecommunications industry. By leveraging quantum technologies, this collaboration seeks to develop secure communication systems resistant to future quantum threats, helping telecommunications companies stay ahead in the era of quantum computing and safeguarding critical digital infrastructure
- In March 2022, Quix Quantum, a leading quantum technology company, unveiled its new quantum photonic processor, developed at its facility in the Netherlands. The processor boasts impressive advancements, performing nearly twice as efficiently as current models. With a record number of 20 qumodes and the highest operating specifications, this processor sets a new benchmark in the quantum computing field, promising to significantly improve computational power and furthering the practical applications of quantum technology
Frequently Asked Questions
The market is segmented based on Segmentation, By System (Single Qubit Quantum System and Multiple Qubit System), Qubits (Trapped Ion Qubits, Semiconductor Qubits, and Super Conducting), Offering (Systems and Services), Deployment Model (On-Premises and Cloud), Component (Hardware, Software and Services), Application (Cryptography, Simulation, Parallelism, Machine Learning, Algorithms, and Others), Logic Gates (Toffoli Gate, Hadamard Gate, Pauli Logic Gates and Others), Verticals (Banking and Finance, Healthcare and Pharmaceuticals, Defense, Automotive, Chemical, Utilities, and Others) – Industry Trends and Forecast to 2032
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The Global Quantum Computing Market size was valued at USD 10.40 USD Billion in 2024.
The Global Quantum Computing Market is projected to grow at a CAGR of 7% during the forecast period of 2025 to 2032.
The major players operating in the market include Honeywell International , Accenture, Fujitsu, Rigetti & Co , 1QB Information Technologies , IonQ, Atom Computing , ID Quantique, QuintessenceLabs, Toshiba Research Europe , Microsoft, Magiq Technologies , NEC Corporation, Anyon System , CAMBRIDGE QUANTUM COMPUTING LTD, QCWare, and Intel Corporation.
The market report covers data from the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
