Quantum Computing Software Market
The Quantum Computing Software Market was valued at US$115.3 million in 2022 and is expected to grow at a CAGR of 31.5% during the forecast period.
A new paradigm called quantum computing is set to usher in the next phase of computing power and speed. It creates new categories of computing components that will change the way computers process data using quantum physics phenomena. Quantum technology can be used to enable these types of technological advances in computing. Advanced AI for self-driving cars could also be developed with it. It is also possible to simulate complicated biological and chemical systems with quantum computing. This simulation is essential to create advanced materials (such as metals, polymers, and hybrids), support advanced aeronautics, and advance biotechnology to develop new vaccines and treatments for diseases.
A type of cutting-edge, developing computer technology known as quantum computing is based on quantum theory and quantum mechanics. Quantum computing has been performed on the quantum computer using principles from quantum physics. It differs from traditional computing in terms of speed, bits, and data. Quantum computing uses all states between 0 and 1, in contrast to classical computing, which only uses the two bits 0 and 1. This leads to better results and faster processing. The most common application of quantum computing is in research, where it is used to compare different solutions and choose the optimal one for a difficult problem. Chemicals, energy, healthcare and pharmaceuticals are just a few of the companies that have used it.
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Quantum Computing Software Market – Segmentation
Quantum Computing Software Market by System, the market is fragmented into:
• Single qubit quantum system
• Multiple qubit system
Qubit-based quantum computing software market, the market is segmented into:
• Captured ion qubits
• Semiconductor qubits
• Super conduction
Quantum Computing Software Market On the basis of offerings, the market is segmented into:
• Systems
• Services
Quantum Computing Software Market On the basis of the deployment model, the market is categorized into:
• On the premises
• Cloud
Quantum Computing Software Market On the basis of Component, the market is categorized into:
• Hardware
• Software
• Services
Quantum Computing Software Market On the basis of Application, the market is segmented into:
• Cryptography
• Simulation
• Concurrency
• Machine Learning
• Algorithms
• Other
Quantum Computing Software Market On the basis of Logic Gates the market is segmented into:
• Toffoli Gate
• Hadamard Gate
• Pauli logic gate
• Other
Quantum Computing Software Market On the basis of Logic Gates the market is segmented into:
• Banking and finance
• Healthcare and Pharmacy
• Defense
• Automobile
• Chemical
• Utilities
• Other
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Quantum Computing Software Market – Key Market Players
The major players in the market are: IBM Corporation, D-Wave Systems Inc, Cambridge Quantum Computing Ltd, Intel Corporation, Rigetti & Co, Inc and Google LLC.
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