Quantum Computing Software Market Analysis And Trends By Segmentations, Top Key Players, Geographical Expansion, Future Development & Forecast – 2026
The Quantum Computing Software market size is projected to grow from USD 0.11 billion in 2021 to 0.43 USD billion in 2026, at a Compound Annual Growth Rate (CAGR) of 30.5% during the forecast period. The major factors driving the growth of the Quantum Computing Software market include the growing adoption of quantum computing software in the BFSI vertical, government support for the development and deployment of the technology, and the increasing number of strategic alliances for research and development.
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Based on Component, the service segment to grow at a higher CAGR during the forecast period
Among the component segment, the services segment is leading the quantum computing software market in 2021. The growth of the services segment can be attributed to the increasing investments by start-ups in research and development related to quantum computing technology. Quantum computing software and services are used in optimization, simulation, and machine learning applications, thereby leading to optimum utilization costs and highly efficient operations in various industries.
Based on application, the optimization segment is expected to hold the highest market size during the forecast period
The optimization segment is expected to lead the global quantum computing software market in terms of market share. Optimization problems exist across all industries and business functions. Some of these problems take too long to be solved optimally with traditional computers, where the usage of quantum computing technology is expected to be an optimum solution. Several optimization problems require a global minimal point solution. By using quantum annealing, the optimization problems can be solved earlier as compared to supercomputers.
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Unique Features in the Quantum Computing Software Market
Special programming languages were becoming more and more popular, such as Quipper, Cirq, and Qiskit. These languages are made expressly to make it easier to create quantum apps and algorithms.
Businesses were providing cloud services with quantum computing capabilities, allowing customers to use quantum hardware from a distance. For developers and researchers interested in experimenting with quantum algorithms, this method lowers the entry hurdle.
The open source nature of many quantum computing software tools and libraries encouraged cooperation and creativity within the field. A few examples include Ocean (D-Wave), Cirq (Google), and Qiskit (IBM).
Integration of machine learning techniques with quantum computing was a noteworthy development. Using the special abilities of quantum computers, quantum machine learning aims to outperform traditional computers in solving specific kinds of issues.
The study of hybrid models fusing parts of quantum and conventional computers was underway. In order to perform particular jobs, quantum computers are frequently deployed as co-processors alongside classical computers for more versatile computing.
Major Highlights of the Quantum Computing Software Market
Users might now remotely access quantum computing resources because to the growing popularity of quantum cloud services. Cloud-based systems from businesses like Microsoft, IBM, and and Rigetti made quantum computing more widely available.
One major trend was the emergence of open source quantum software. Open-sourced frameworks like IBM’s Qiskit, Google’s Cirq, and D-Wave’s Ocean promote cooperation and the exchange of tools and techniques across the quantum computing community.
The integration of artificial intelligence (AI) with quantum computing and quantum machine learning were emerging as important areas of focus. Scholars were investigating how quantum algorithms could improve models for machine learning and resolve challenging optimisation issues.
There was an increase in the use of hybrid quantum-classical computer models. These models make better use of the advantages of both classical and quantum computing to address challenging issues.
One important field of study and advancement was quantum error correction. In order to increase the dependability of quantum computations, attempts were being undertaken to create error correction algorithms, since quantum computers are prone to faults by nature.
Top Key Companies in the Quantum Computing Software Market
Major Quantum Computing Software vendors include IBM Corporation (US), Microsoft Corporation (US), Amazon Web Services, Inc. (US), D-Wave Systems Inc (Canada), Rigetti Computing (US), Google LLC (US), Honeywell International Inc. (US), QC Ware (US), 1QBit (US), Huawei Technologies Co., Ltd. (China), Accenture plc (Ireland), Cambridge Quantum Computing (England), Fujitsu Limited (Japan), Riverlane (UK), Zapata Computing (US), Quantum Circuits, Inc. (US), Quantica Computacao (India), XANADU Quantum Technologies (Canada), VeriQloud (France), Quantastica (Finland), AVANETIX (Germany), Kuano (England), Rahko (UK), Ketita Labs (Estonia), and Aliro Quantum (US). These market players have adopted various growth strategies, such as partnerships, collaborations, and new product launches, to expand have been the most adopted strategies by major players from 2019 to 2021, which helped companies innovate their offerings and broaden their customer base.
IBM was founded in 1911 and is headquartered in New York, US. It is a multinational technology and consulting corporation that offers infrastructure, hosting, and consulting services. The company operates through five major business segments: Cloud and Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing. IBM Cloud has emerged as a platform of choice for all business applications, as it is AI compatible. It is a unifying platform that integrates IBM’s capabilities with a single architecture and spans over public and private cloud platforms. With this powerful cloud platform, the company can cater to the requirements of different businesses across the globe. IBM caters to various verticals, including aerospace & defense, education, healthcare, oil & gas, automotive, electronics, insurance, retail and consumer products, banking and finance, energy and utilities, life sciences, telecommunications, media and entertainment, chemical, government, manufacturing, travel & transportation, construction, and metals & mining. The company has a strong presence in the Americas, Europe, MEA, and APAC and clients in more than 175 countries. IBM is one of the major players in the quantum computing ecosystem. The company in 2016 made a quantum computer available to the public by connecting it to the cloud. In September 2019, it opened a Quantum Computation Center. The Quantum Computation Center offers about 100 IBM clients, academic institutions, and more than 200,000 registered users access to this cutting-edge technology through a collaborative effort called the IBM Q Network and Qiskit, IBM’s open-source development platform for quantum computing. Through these efforts, IBM is exploring the ways quantum computing can address the most complicated problems faced while training the workforce to use this technology.
Rigetti Computing was founded in 2013 and is headquartered in California, US. Rigetti Computing designs and manufactures superconducting quantum-integrated circuits. It develops quantum computers, as well as superconducting quantum processors that power them. The machines of the company can be integrated with any public, private, or hybrid cloud through the quantum cloud services (QCS) platform. It is a full-stack quantum computing company that provides an integrated computing environment. Rigetti Computing develops algorithms for quantum computing that focus on application areas such as machine learning, logistics, healthcare and pharmaceuticals, and chemicals. The company also delivers a set of tools, such as Quil, pyQuil, and Quilc, which help solve optimization problems.
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