By 2031, it is predicted that the Quantum Technology Market would have grown remarkably, reaching a value of $61,969.9 million. A recently released market research report predicts that the market will develop at a compound annual growth rate (CAGR) of 22.9% from 2021 to 2031. This increase can be attributed to a number of factors, such as the rising need for dependable network and computing solutions, the significant government and private venture funding allocated to the advancement of quantum technologies, the rising cost of research and development (R&D), and the expanding range of quantum technology applications across various industrial sectors.

The demand for reliable and secure network infrastructure has increased dramatically as the digital world changes. By utilising the special characteristics of quantum physics, quantum technology has the potential to revolutionise computer capabilities. The market is expanding rapidly because to the increasing use of quantum technologies in sectors like healthcare, banking, telecommunications, and transportation. Additionally, the development of quantum algorithms and quantum sensing techniques has paved the way for innovations in precision measurements, drug discovery, optimisation, and cryptography, spurring the market's growth.

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The global market for quantum technology offers attractive potential for business operators, technology enthusiasts, and investors alike due to its optimistic growth trajectory. Collaborations and strategic alliances are projected to thrive as firms realise the enormous potential of quantum technology, driving innovation and advancing the market. Refer to the in-depth market research report, which is currently accessible, to obtain further insights into the industry trends, growth drivers, difficulties, and competition landscape.

Global quantum technology market will reach $61,969.9 million by 2031, growing by 22.9% annually over 2021-2031, driven by the rising demand for reliable network and computing, the growing government and private venture funding for quantum technologies, increasing R&D expenditure, and the expanding applications of quantum technology in various industrial sectors.

Highlighted with 83 tables and 93 figures, this 199-page report “Global Quantum Technology Market 2021-2031 by Component (Hardware, Software, Services), Technology (Computing, Cryptography, Sensing and Imaging, QDP, QCL, Magnetometer, QKD), Deployment Mode (On-premise, Cloud-based, Hybrid), Connectivity (Cellular, Non-Cellular), Industry Vertical, and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global quantum technology market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2019-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

In-depth qualitative analyses include identification and investigation of the following aspects:

Market Structure
Growth Drivers
Restraints and Challenges
Emerging Product Trends & Market Opportunities
Porter’s Fiver Forces

The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global quantum technology market in every aspect of the classification from perspectives of Component, Technology, Deployment Mode, Connectivity, Industry Vertical, and Region.

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Based on Component, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

Hardware
Software
Services

Based on Technology, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

Quantum Computing
Quantum Cryptography Communication
Quantum Sensing and Imaging
Quantum Dots Particles (QDP)
Quantum Cascade Laser (QCL)
Quantum Magnetometer
Quantum Key Distribution (QKD)

By Deployment, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

On-premise Deployment
Cloud-based Deployment

o             Private Cloud

o             Public Cloud

Hybrid Deployment

By Connectivity, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

Cellular Connectivity

o             3G

o             4G LTE

o             5G/6G

Non-Cellular/IoT Connectivity

By Industry Vertical, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.

Consumer Electronics
IT & Telecom
Healthcare & Medical
Banking, Financial Services and Insurance (BFSI)
Energy & Utilities
Oil and Gas
Manufacturing
Automotive and Transportation
Aerospace & Defense
Other Industry Verticals

Geographically, the following regions together with the listed national/local markets are fully investigated:

North America (U.S., Canada, and Mexico)
Europe (Germany, UK, France, Spain, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
South America (Brazil, Chile, Argentina, Rest of South America)
MEA (UAE，Saudi Arabia， South Africa and Rest of MEA)

For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of each national market by Technology, Deployment Mode and Industry Vertical over the forecast years are also included.

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 The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Selected Key Players:

Aliro Quantum

Alphabet Inc. (Google)

D-Wave Systems, Inc.

Gem Systems

Hewlett Packard Enterprise

Honeywell International Inc (Quantinuum)

Intel Corporation

International Business Machines Corporation (IBM)

KETS Quantum Security

Microsoft Corporation

M-Squared Lasers Limited

NEC Corporation

QD Laser Co. Inc.

Quantum Brilliance

Quantum Computing Inc.

Qubitekk

Robert Bosch GmbH

Tencent Quantum Lab

Toshiba Corporation

ZTE Corporation

View Report Scope and Latest Developments in the Market:  https://www.marketwatch.com/press-release/quantum-technology-market-to-surpass-619699-million-by-2031-propelled-by-growing-demand-for-reliable-network-and-computing-2023-06-02?mod=search_headline

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