This market is expected to be valued at USD 495.3 Million by 2023, at a CAGR of 29.04% between 2017 and 2023.
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The major factors driving the growth of the quantum computing market include increasing incidences of cybercrimes, early adoption of quantum computing in the automotive and defense industry, and increasing investment by government entities in the quantum computing market.
The report profiles the most promising players in this market. The key players in this market are D-Wave Systems Inc. (Canada), 1QB Information Technologies Inc. (Canada), QxBranch LLC (US), and QC Ware Corp. (US) and Research at Google-Google Inc. (US).
The software acts as an interface between the user and the quantum computer. The quantum computer offered by the key players is coupled with the appropriate software. The software are offered by a range of market players, such as D-Wave Systems Inc. (Canada), 1QB Information Technologies Inc. (Canada), QxBranch LLC (US), and QC Ware Corp. (US), to improve the operational efficiencies of the quantum computer. In the quantum computing market, the software segment is expected to earn maximum revenue during the forecast period. Need for compatible software in upcoming quantum hardware and services would act as strong drivers for the growth of quantum computing market for the software segment during the forecast period.