Topological Quantum Computing Market size was valued at USD 1.91 Billion in 2023 and is anticipated to reach USD 15.36 Billion by the end of 2036, expanding at around 21% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of topological quantum computing is assessed at USD 2.87 Billion. The growth of the market can be attributed to the rising popularity of quantum technologies, worldwide. Out of the total companies that are significantly trying to work on quantum technologies, around 43% reside in China, and nearly 26% are Germany-based. Moreover, around 20% of the businesses working on quantum have reached the implementation stage, signaling that quantum technologies and nearly 23% have found significant applications and are getting ready to implement them.
In addition to these, factors that are believed to fuel the market growth of topological quantum computing include the increasing product launches associated with topological quantum computing, rising adoption of quantum computing in the BFSI sector and growing involvement of companies to expand their geographic presence. Moreover, rising emphasis of organizations on R&D activities to develop innovative techniques in the field of topological quantum computing is also expected to be a major factor to create significant opportunities for the market in the upcoming years. Furthermore, as topological quantum computation is precisely a new and different approach to quantum computing, it is capable of employing systems with a unique way of encoding and processing information in a fault-tolerant way, which is projected to significantly increase the demand for topological quantum computing systems in the near future.
Growth Drivers
Growing Popularity of Smartphones– Systems for medical imaging, LEDs, lasers, and chips for computers and smartphones are all based on quantum mechanics-based technology. In 2023, around 86% of the world’s population have smartphones, currently, there are 9 billion smartphone users and it is expected that nearly 90% of people are likely to have smartphones.
Higher Adoption of Advanced Technology – With the helps topological quantum computing, technologies, such as blockchain and AI can function to its full capacity. Around 65% of businesses are eager to adopt new technologies, and more than 77% of those who have previously done so report being above-averagely satisfied.
Rising Effort to Boost Quantum Technology – More than half (58%) of the quantum-focused firms reported that they had recently acquired C-level backing for their activities. Moreover, given lengthy product development cycles in their industries, seven out of ten enterprises working on quantum concurred.
Rise in the Number of Bank Accounts and Digital Payments – Technology can help banking sector to get real time data and open numerous opportunities for the sector. According to data from the World Bank, 76% of adults globally now have an account with a bank, another financial institution, or a mobile money provider, up from 68% in 2017 and 51% in 2011. In addition, besides China, over 40% of individuals in low- and middle-income nations paid a merchant in person or online using a card, phone, or the internet.
Rising Penetration of Digitization – this computing can be leveraged to further boost the digital transformation by bring revolutionary changes IT sector. While 55% of startups have adopted a digital-first firm strategy, around 90% of all enterprises have already done so or have plans to do so.
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
21% |
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Base Year Market Size (2023) |
USD 1.91 Billion |
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Forecast Year Market Size (2033) |
USD 15.36 Billion |
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Regional Scope |
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Application (Optimization, Machine Learning, Simulation)
The global topological quantum computing market is segmented and analyzed for demand and supply by application into optimization, machine learning, simulation, and others. Out of the four application of topological quantum computing, the machine learning segment is estimated to gain the largest market share over the projected time frame. The development of AI and ML technology has been significantly influenced by quantum computing. Topological quantum computing, a novel technology that processes data using the principles of quantum physics, has the potential to significantly speed up and improve the efficiency of machine learning in pharmaceutical industry, agriculture, BFSI, and others. The growth of the segment can be attributed to the higher adoption of machine learning by companies and higher investment in ML. In 2023, around 63% of the organizations plans on increase or maintain their spending on AI and machine learning. Furthermore, there have been more than 4400 investment rounds for machine learning firms as of October 2020, with a total of USD 3 billion raised over those funding rounds.
Deployment (On-Premises, Cloud Based)
The global topological quantum computing market is also segmented and analyzed for demand and supply by product into on-premise, and cloud-based. Amongst these two segments, the cloud-based segment is expected to garner a significant share. The segment is expected to grow on the account of increasing development of effective cloud systems, and rising demand for cloud-based deployment of quantum computing service. Along with this, the flexibility of access offered by cloud is expected to be another factor fueling the growing adoption of cloud-based deployment of topological quantum computing systems and service in the coming years.
Our in-depth analysis of the global market includes the following segments:
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By Product |
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By Application |
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APAC Market Statistics
The Asia Pacific topological quantum computing market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036. The growth of the market can be attributed majorly to the growing usage of advanced technologies in the pharmaceutical, banking and finance, and manufacturing sectors. Apart from these, countries such as China, Japan, and South Korea are the leading manufacturers of consumer electronics in Asia and there is a high requirement to resolve issues associated with optimization, simulation, and machine learning applications across the industry, which in turn is anticipated to boost market growth in this region. For instance, in 2018, China produced around 300 million computers, approximately 2 billion smartphones and 200 million televisions.
North American Market Forecast
The North American topological quantum computing market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036. The market growth in the region is attributed to rising digitization in the region. Around 85% of companies have boosted their digital transformation. Furthermore, rise in the number of startups associated with quantum computing is also expected to augment the North America’s market growth. There are nearly 90 quantum computing startups in the United States.
CINECA and D-Wave Systems Inc. declared a collaboration that aims to supply Italian universities, developers and researchers an access to practical quantum computing resources and technology through D-Wave’s Leap quantum cloud service.
Hewlett Packard Enterprise had been awarded SGD 40 million to create a new supercomputer for the National Supercomputing Centre (NSCC) in Singapore to support the science and engineering computing needs for academic, business and research communities. This new computer can be 8 times quicker than NSCC’s existing HPC resources.
Author Credits: Abhishek Verma
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