TABLE OF CONTENTS
1 INTRODUCTION 15
1.1 STUDY OBJECTIVES 15
1.2 DEFINITION 15
1.3 STUDY SCOPE 16
1.3.1 MARKETS COVERED 16
1.3.2 GEOGRAPHIC SCOPE 16
1.3.3 YEARS CONSIDERED 17
1.4 CURRENCY 17
1.5 STAKEHOLDERS 17
2 RESEARCH METHODOLOGY 18
2.1 RESEARCH DATA 18
2.1.1 SECONDARY DATA 20
2.1.1.1 Secondary sources 20
2.1.2 PRIMARY DATA 21
2.1.2.1 Primary sources 21
2.1.2.2 Key industry insights 22
2.1.2.3 Breakdown of primaries 22
2.2 MARKET SIZE ESTIMATION 23
2.2.1 BOTTOM-UP APPROACH 23
2.2.2 TOP-DOWN APPROACH 23
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 24
2.4 RESEARCH ASSUMPTIONS 25
2.5 LIMITATIONS 25
3 EXECUTIVE SUMMARY 26
4 PREMIUM INSIGHTS 30
4.1 ATTRACTIVE OPPORTUNITIES IN QUANTUM COMPUTING MARKET 30
4.2 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION, BY APPLICATION 31
4.3 QUANTUM COMPUTING AS A SERVICE MARKET, BY APPLICATION 31
4.4 QUANTUM COMPUTING CONSULTING SOLUTION MARKET SHARE, BY REGION (2019 VS. 2024) 32
4.5 QUANTUM COMPUTING AS A SERVICE MARKET SHARE, BY REGION (2019 VS. 2024) 32
4.6 QUANTUM COMPUTING AS A SERVICE MARKET, BY APPLICATION 33
4.7 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION, BY GEOGRAPHY 33
4.8 QUANTUM COMPUTING AS A SERVICE MARKET, BY GEOGRAPHY 34
5 MARKET OVERVIEW 35
5.1 INTRODUCTION 35
5.2 MARKET DYNAMICS 35
5.2.1 DRIVERS 36
5.2.1.1 Rising incidences of cybercrime 36
5.2.1.2 Early adoption of quantum computing in defense and automotive industries 36
5.2.1.3 Increasing investments by government bodies 36
5.2.1.4 Active collaborations and partnerships between start-ups and academic universities, and leading companies to develop quantum computing applications 37
5.2.2 RESTRAINTS 37
5.2.2.1 Presence of substitute technologies 37
5.2.3 OPPORTUNITIES 38
5.2.3.1 Use of quantum cryptography to secure mobile transaction 38
5.2.3.2 Surge in adoption of quantum computing in drug discovery 38
5.2.3.3 Ability of quantum computers to solve complex problems that traditional or supercomputers cannot solve 38
5.2.4 CHALLENGES 39
5.2.4.1 Lack of highly skilled employees 39
5.2.4.2 Lack of awareness regarding quantum computing leading to reluctance to accept it 39
5.2.4.3 Requirement of low temperature conditions 39
5.3 UPCOMING REVENUE POCKETS 40
5.3.1 INTRODUCTION 40
5.3.2 MACHINE LEARNING 41
5.3.3 PATTERN RECOGNITION 41
5.3.4 BUSINESS ANALYTICS 42
5.3.5 MANUFACTURING AND LOGISTIC INFRASTRUCTURE 42
5.3.6 ENERGY AND POWER—CLEAN ENERGY 42
5.4 KEY TECHNOLOGIES RELATED TO QUANTUM COMPUTING 43
6 QUANTUM COMPUTING MARKET, BY OFFERING 44
6.1 INTRODUCTION 45
6.2 CONSULTING SOLUTIONS 46
6.3 SYSTEMS 46
7 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION,
BY APPLICATION 47
7.1 INTRODUCTION 48
7.2 OPTIMIZATION 49
7.2.1 NEED TO SOLVE OPTIMIZATION PROBLEMS SUCH AS SYSTEMS DESIGN, MISSION PLANNING, AND FINANCIAL ANALYSIS 49
7.3 MACHINE LEARNING 50
7.3.1 USE OF MACHINE LEARNING APPLICATION INCLUDING MONTE CARLO METHOD ACROSS VARIOUS END-USER INDUSTRIES 50
7.4 MATERIAL SIMULATION 51
7.4.1 PARTNERSHIPS AND COLLABORATIONS FOR THE DEVELOPMENT OF MATERIAL SIMULATION APPLICATION 51
8 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION,
BY END-USER INDUSTRY 52
8.1 INTRODUCTION 53
8.2 SPACE AND DEFENSE 54
8.2.1 USE OF QUANTUM COMPUTING IN SPACE & DEFENSE TO PERFORM MULTIPLE OPERATIONS SIMULTANEOUSLY 54
8.3 AUTOMOTIVE 55
8.3.1 AUTOMOTIVE INDUSTRY USES OPTIMIZATION, AND SIMULATION APPLICATIONS FOR PROBLEM-SOLVING TO MAKE THEIR OFFERINGS MORE EFFICIENT 55
8.4 HEALTHCARE 56
8.4.1 REQUIREMENT OF A ROBUST AND AGILE COMPUTING TECHNOLOGY FOR DRUG SIMULATION IN AN EFFICIENT AND TIMELY MANNER 56
8.5 CHEMICALS 57
8.5.1 QUANTUM COMPUTING CAN COMPARE LARGE/LARGER MOLECULES, THEREBY PROVIDING A MODERNIZED APPROACH FOR THE MOLECULAR COMPARISON PROCESS 57
8.6 BANKING AND FINANCE 58
8.6.1 SIMULATION OFFERS ASSISTANCE IN INVESTMENT RISK ANALYSIS AND DECISION-MAKING PROCESS IN BANKING & FINANCE 58
8.7 ENERGY AND POWER 59
8.7.1 NEED TO DEVELOP NEW ENERGY SOURCES AND ENHANCE THE ENERGY DELIVERY PROCESS USING OPTIMIZATION 59
9 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION,
GEOGRAPHIC ANALYSIS 60
9.1 INTRODUCTION 61
9.2 NORTH AMERICA 62
9.2.1 US 65
9.2.1.1 Early adopter of quantum computing, as US is a highly developed economy and technologically advanced country. 65
9.2.2 CANADA 66
9.2.2.1 Heavy investment by Canadian government fueling the development of market 66
9.3 EUROPE 66
9.3.1 UK 69
9.3.1.1 Development in industries to bring significant changes in the adoption rate of the market 69
9.3.2 GERMANY 70
9.3.2.1 the German Federal Ministry of Education and Research (BMBF) is spreading awareness about the importance of quantum computing for the economy 70
9.3.3 FRANCE 70
9.3.3.1 Growing demand for advanced technologies for secure communications in various industries 70
9.4 APAC 71
9.4.1 CHINA 73
9.4.1.1 substantial investments in the development of quantum computers by China 73
9.4.2 JAPAN 74
9.4.2.1 Focus on emerging technologies to make the country technologically advanced. 74
9.4.3 SOUTH KOREA 74
9.4.3.1 Quantum computing technology development project and next-generation information computing technology development project for 2019 have been finalized 74
10 QUANTUM COMPUTING AS A SERVICE MARKET, BY APPLICATION 75
10.1 INTRODUCTION 76
10.2 OPTIMIZATION 77
10.2.1 USE OF QCAAS BY VARIOUS END-USER INDUSTRIES SUCH AS AUTOMOTIVE, SPACE AND DEFENSE, AND HEALTHCARE 77
10.3 MACHINE LEARNING 78
10.3.1 CAPABILITY OF ELIMINATING MOST DIAGNOSTIC ERRORS RELATED TO IMAGE READING WITH MACHINE LEARNING APPLICATION 78
10.4 MATERIAL SIMULATION 78
10.4.1 THE GROWING AUTOMOTIVE INDUSTRY WITH MORE FOCUS ON ELECTRIC VEHICLES 78
11 QUANTUM COMPUTING AS A SERVICE MARKET, GEOGRAPHIC ANALYSIS 80
11.1 INTRODUCTION 81
11.2 NORTH AMERICA 82
11.2.1 US 85
11.2.1.1 US is a potential markets for QCaaS as it is home to many major players including IBM Corporation (US) and Rigetti Computing (US). 85
11.2.2 CANADA 85
11.2.2.1 Presence of D-wave and other companies to collaborate with the key player is helping Canada to be at the forefront. 85
11.3 EUROPE 86
11.3.1 UK 87
11.3.1.1 The presence of world-class researchers and facilities has enabled the country to achieve a deep understanding of quantum science 87
11.3.2 GERMANY 88
11.3.2.1 Government of Germany, allocated USD 735 million for Quantum Technologies in 2018. 88
11.3.3 FRANCE 88
11.3.3.1 Focus on the development of advanced technologies in various industries such as healthcare, banking, and automotive 88
11.4 APAC 89
11.4.1 CHINA 90
11.4.1.1 China raised an investment of USD 10 billion in the construction of the national Laboratory for Quantum Information Sciences 90
11.4.2 JAPAN 91
11.4.2.1 QCaaS can enable industry players in this country to perform efficient operations and solve complex problems. 91
11.4.3 SOUTH KOREA 91
11.4.3.1 Government initiatives and adoption of quantum computing by key consumer electronic players 91
12 COMPETITIVE LANDSCAPE 92
12.1 OVERVIEW 92
12.2 MARKET RANKING ANALYSIS 93
12.3 COMPETITIVE LEADERSHIP MAPPING, 2018 94
12.3.1 VISIONARY LEADERS 94
12.3.2 DYNAMIC DIFFERENTIATORS 94
12.3.3 INNOVATORS 94
12.3.4 EMERGING COMPANIES 95
12.4 COMPETITIVE SCENARIO 96
12.4.1 PARTNERSHIPS AND COLLABORATIONS 96
12.4.2 PRODUCT LAUNCHES AND PRODUCT DEVELOPMENTS 98
12.4.3 EXPANSIONS 99
12.4.4 OTHERS 100
13 COMPANY PROFILES 102
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
13.1 INTRODUCTION 102
13.2 KEY PLAYERS 103
13.2.1 D-WAVE SYSTEMS INC. 103
13.2.2 INTERNATIONAL BUSINESS MACHINES CORPORATION (IBM) 107
13.2.3 RIGETTI COMPUTING 110
13.2.4 QC WARE CORP. 112
13.2.5 1QB INFORMATION TECHNOLOGIES INC. 114
13.2.6 QXBRANCH, INC. 117
13.2.7 CAMBRIDGE QUANTUM COMPUTING LTD 119
13.2.8 STATION Q – MICROSOFT CORPORATION 121
13.2.9 RESEARCH AT GOOGLE – GOOGLE INC. 122
13.2.10 RIVER LANE RESEARCH 123
13.3 OTHER COMPANIES 124
13.3.1 HEWLETT PACKARD ENTERPRISE (HP) 124
13.3.2 NIPPON TELEGRAPH AND TELEPHONE CORPORATION (NTT) 124
13.3.3 HITACHI LTD 125
13.3.4 INTEL CORPORATION 125
13.3.5 NORTHROP GRUMMAN CORPORATION 126
13.3.6 TOSHIBA CORPORATION 126
13.3.7 ACCENTURE 127
13.3.8 FUJITSU 127
13.3.9 QUANTUM CIRCUITS, INC. 128
13.3.10 EVOLUTIONQ INC. 128
13.3.11 ABD PROF 128
13.3.12 QUANTICA COMPUTACAO 129
13.3.13 MDR INC. 129
13.3.14 ZAPATA COMPUTING, INC. 130
13.3.15 XANADU 130
13.3.16 IONQ 131
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
14 APPENDIX 132
14.1 INSIGHTS OF INDUSTRY EXPERTS 132
14.2 DISCUSSION GUIDE 133
14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 136
14.4 AVAILABLE CUSTOMIZATIONS 138
14.5 RELATED REPORTS 138
14.6 AUTHOR DETAILS 139
TABLE 1 ASSUMPTIONS OF STUDY 25
TABLE 2 LIMITATIONS FOR THE STUDY 25
TABLE 3 QUANTUM COMPUTING MARKET, BY OFFERING, 2016–2024 (USD MILLION) 45
TABLE 4 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION, BY APPLICATION, 2016–2024 (USD MILLION) 48
TABLE 5 CONSULTING SOLUTIONS MARKET FOR OPTIMIZATION, BY REGION,
2016–2024 (USD THOUSAND) 49
TABLE 6 CONSULTING SOLUTIONS MARKET FOR MACHINE LEARNING, BY REGION,
2016–2024 (USD THOUSAND) 50
TABLE 7 CONSULTING SOLUTIONS MARKET FOR MATERIAL SIMULATION, BY REGION, 2016–2024 (USD MILLION) 51
TABLE 8 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION, BY END-USER INDUSTRY, 2016–2024 (USD MILLION) 53
TABLE 9 CONSULTING SOLUTIONS MARKET FOR SPACE & DEFENSE, BY REGION,
2016–2024 (USD THOUSAND) 55
TABLE 10 CONSULTING SOLUTIONS MARKET FOR AUTOMOTIVE, BY REGION,
2016–2024 (USD MILLION) 55
TABLE 11 CONSULTING SOLUTIONS MARKET FOR HEALTHCARE, BY REGION,
2016–2024 (USD THOUSAND) 56
TABLE 12 CONSULTING SOLUTIONS MARKET FOR CHEMICALS, BY REGION,
2016–2024 (USD MILLION) 57
TABLE 13 CONSULTING SOLUTIONS MARKET FOR BANKING & FINANCE, BY REGION,
2016–2024 (USD MILLION) 58
TABLE 14 CONSULTING SOLUTIONS MARKET FOR ENERGY& POWER, BY REGION,
2016–2024 (USD THOUSAND) 59
TABLE 15 GLOBAL QUANTUM SOLUTION MARKET FOR COMPUTING CONSULTING,
BY REGION, 2016–2024 (USD MILLION) 62
TABLE 16 QUANTUM COMPUTING PATENTS 63
TABLE 17 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION IN NORTH AMERICA, BY COUNTRY, 2016–2024 (USD MILLION) 64
TABLE 18 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION IN NORTH AMERICA, BY APPLICATION, 2016–2024 (USD MILLION) 64
TABLE 19 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION IN NORTH AMERICA, BY END-USER INDUSTRY, 2016–2024 (USD MILLION) 65
TABLE 20 FOCUS AREA OF QUANTUM COMPUTING TECHNOLOGY IN EUROPE IN COMING YEARS 66
TABLE 21 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION IN EUROPE,
BY COUNTRY, 2016–2024 (USD MILLION) 68
TABLE 22 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION IN EUROPE,
BY APPLICATION, 2016–2024 (USD MILLION) 68
TABLE 23 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION IN EUROPE,
BY END-USER INDUSTRY, 2016–2024 (USD MILLION) 69
TABLE 24 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION IN NORTH AMERICA, BY COUNTRY, 2016–2024 (USD MILLION) 72
TABLE 25 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION IN APAC,
BY APPLICATION, 2016–2024 (USD MILLION) 72
TABLE 26 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION IN APAC,
BY END-USER INDUSTRY, 2016–2024 (USD MILLION) 73
TABLE 27 QUANTUM COMPUTING AS A SERVICE MARKET, BY APPLICATION,
2016–2024 (USD MILLION) 76
TABLE 28 QUANTUM COMPUTING AS A SERVICE MARKET FOR OPTIMIZATION,
BY REGION, 2016–2024 (USD MILLION) 77
TABLE 29 QUANTUM COMPUTING AS A SERVICE MARKET FOR MACHINE LEARNING,
BY REGION, 2016–2024 (USD MILLION) 78
TABLE 30 QUANTUM COMPUTING AS A SERVICE MARKET FOR MATERIAL SIMULATION,
BY REGION, 2016–2024 (USD MILLION) 79
TABLE 31 QUANTUM COMPUTING AS A SERVICE MARKET, BY REGION,
2016–2024 (USD MILLION) 82
TABLE 32 QUANTUM COMPUTING AS A SERVICE MARKET IN NORTH AMERICA,
BY COUNTRY, 2016–2024 (USD MILLION) 82
TABLE 33 QUANTUM COMPUTING AS A SERVICE MARKET IN NORTH AMERICA,
BY APPLICATION, 2016–2024 (USD MILLION) 83
TABLE 34 QUANTUM COMPUTING AS A SERVICE MARKET IN EUROPE, BY COUNTRY,
2016–2024 (USD MILLION) 87
TABLE 35 QUANTUM COMPUTING AS A SERVICE MARKET IN EUROPE, BY APPLICATION, 2016–2024 (USD THOUSAND) 87
TABLE 36 QUANTUM COMPUTING AS A SERVICE MARKET IN APAC, BY COUNTRY,
2016–2024 (USD THOUSAND) 90
TABLE 37 QUANTUM COMPUTING AS A SERVICE MARKET IN APAC, BY APPLICATION,
2016–2024 (USD THOUSAND) 90
TABLE 38 MARKET RANKING ANALYSIS – QUANTUM COMPUTING MARKET (2018) 93
TABLE 39 PARTNERSHIPS AND COLLABORATIONS (2016 – 2019) 96
TABLE 40 MOST RECENT PRODUCT LAUNCHES AND PRODUCT DEVELOPMENTS
(2016–2019) 98
TABLE 41 EXPANSIONS (2017-2019) 99
TABLE 42 OTHERS (2016-2018) 100
LIST OF FIGURES
FIGURE 1 QUANTUM COMPUTING MARKET SEGMENTATION 16
FIGURE 2 QUANTUM COMPUTING MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION 18
FIGURE 3 QUANTUM COMPUTING MARKET: RESEARCH DESIGN 19
FIGURE 4 DATA TRIANGULATION METHODOLOGY 24
FIGURE 5 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION, BY END-USER INDUSTRY, 2019 VS. 2024 (USD MILLION) 27
FIGURE 6 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION ,FOR MATERIAL SIMULATION APPLICATION TO GROW AT HIGHEST CAGR DURING 2019–2024 27
FIGURE 7 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION, BY REGION, 2018 28
FIGURE 8 QUANTUM COMPUTING AS A SERVICE MARKET, BY REGION, 2018 29
FIGURE 9 INCREASING INVESTMENTS BY GOVERNMENT BODIES DRIVE QUANTUM COMPUTING MARKET GROWTH 30
FIGURE 10 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION FOR MATERIAL SIMULATION TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 31
FIGURE 11 QUANTUM COMPUTING AS A SERVICE MARKET FOR MATERIAL SIMULATION TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 31
FIGURE 12 NORTH AMERICA TO ACCOUNT FOR LARGEST SHARE OF QUANTUM COMPUTING MARKET BY 2024 32
FIGURE 13 NORTH AMERICA TO ACCOUNT FOR LARGEST SHARE OF QUANTUM COMPUTING AS A SERVICE MARKET BY 2024 32
FIGURE 14 OPTIMIZATION AND MATERIAL SIMULATION TOGETHER TO ACCOUNT FOR MORE THAN 83% SHARE OF QUANTUM COMPUTING AS A SERVICE MARKET BY 2019 33
FIGURE 15 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION IN SOUTH KOREA
TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 33
FIGURE 16 QUANTUM COMPUTING AS A SERVICE MARKET IN SOUTH KOREA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 34
FIGURE 17 GROWING GOVERNMENT INITIATIVES FOR DEVELOPMENT OF QUANTUM COMPUTING IS DRIVING QUANTUM COMPUTING MARKET 35
FIGURE 18 UPCOMING REVENUE POCKETS OF QUANTUM COMPUTING MARKET 40
FIGURE 19 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION, BY APPLICATION 48
FIGURE 20 QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION IN CHINA TO WITNESS HIGHEST CAGR DURING 2019–2024 61
FIGURE 21 NORTH AMERICA: QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION SNAPSHOT 63
FIGURE 22 EUROPE: QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION SNAPSHOT 67
FIGURE 23 APAC: QUANTUM COMPUTING MARKET FOR CONSULTING SOLUTION SNAPSHOT 71
FIGURE 24 QUANTUM COMPUTING AS A SERVICE MARKET, BY APPLICATION 76
FIGURE 25 CHINA TO WITNESS HIGHEST CAGR IN QUANTUM COMPUTING AS A SERVICE MARKET DURING 2019–2024 81
FIGURE 26 NORTH AMERICA: QCAAS MARKET SNAPSHOT 84
FIGURE 27 EUROPE: QCAAS MARKET SNAPSHOT 86
FIGURE 28 APAC: QCAAS MARKET SNAPSHOT 89
FIGURE 29 ORGANIC GROWTH STRATEGIES MAJORLY ADOPTED BY LEADING PLAYERS 92
FIGURE 30 QUANTUM COMPUTING MARKET (GLOBAL) COMPETITIVE LEADERSHIP
MAPPING, 2018 95
FIGURE 31 IBM: COMPANY SNAPSHOT 107
