1. What is the projected Compound Annual Growth Rate (CAGR) of the North America Quantum Computing Market?
The projected CAGR is approximately 32.6%.
North America Quantum Computing MarketNorth America Quantum Computing Market Insightful Analysis: Trends, Competitor Dynamics, and Opportunities 2025-2033
North America Quantum Computing Market by Component (Hardware, Software, Service), by Deployment (On-Premise, Cloud), by Application (Machine Learning, Optimization, Biomedical Simulations, Financial Services, Electronic Material Discovery, Others), by End User (Healthcare, Banking, Financial Services, Insurance (BFSI), by Forecast 2025-2033
Base Year: 2024
120 Pages
North America Quantum Computing Market Insightful Analysis: Trends, Competitor Dynamics, and Opportunities 2025-2033
North America Quantum Computing Market Insightful Analysis: Trends, Competitor Dynamics, and Opportunities 2025-2033
Key Insights
The North America Quantum Computing Market size was valued at USD 717.3 USD million in 2023 and is projected to reach USD 5170.18 USD million by 2032, exhibiting a CAGR of 32.6 % during the forecast period. North America’s quantum computing is changing traditional methods of computation in many ways. Using principles of quantum mechanics, it uses quantum bits also known as qubits, unlike traditional computers that operate in binary format and can be in more than one state at once. This facilitates concurrency and thus results in computation speeds that rise exponentially as compared to a typical computer. Based on the architecture, the major types are gate-model quantum computers, quantum annealers, and quantum computing that hybridizes the classical and quantum processes. These systems embody such traits as superposition, entanglement, and quantum interference, putting them into extractive work. Quantum computing can be used in cryptography, pharmaceuticals, optimization, and artificial intelligence where it is much faster and more precise. Advantages include new scientific discoveries, better security measures and improved supply levels for organizations’ networks.
North America Quantum Computing Trends
- Increasing investments in quantum computing research and development
- Growing adoption of quantum computing technology in various industries
- Development of new quantum algorithms and hardware
- Emergence of cloud-based quantum computing services
- Collaboration between academia, industry, and government to advance quantum computing
Driving Forces: What's Propelling the North America Quantum Computing Market
- Increasing demand for complex problem-solving: Quantum computers' exceptional computational capabilities address intricate issues in fields such as materials science, drug discovery, and financial modeling, unlocking novel solutions.
- Government investments and incentives: Recognizing its strategic significance, governments in North America allocate substantial funding and enact supportive policies to stimulate quantum computing innovation and collaboration.
- Growing adoption across diverse industries: Industries including healthcare, finance, energy, and manufacturing are integrating quantum computing to improve efficiency, optimize decision-making, and accelerate new product development.
- Advancements in quantum algorithms and hardware: Ongoing research and development efforts lead to the development of optimized quantum algorithms and specialized hardware, increasing the accessibility and practicality of quantum computing.
- Cloud-based quantum computing as a service (QCaaS) model: Cloud providers offer access to quantum computing resources through subscription-based services, lowering entry barriers and broadening adoption.
- Collaboration and partnerships: Strategic alliances among quantum computing businesses, research institutions, and end users facilitate knowledge sharing, joint ventures, and accelerated advancements.
- Growing talent pool and ecosystem: Universities, research laboratories, and industry training programs are producing a skilled workforce, establishing a dynamic ecosystem for quantum computing development.
- Increased focus on quantum cybersecurity: As quantum computing advances, safeguarding against potential vulnerabilities and threats in cybersecurity becomes crucial.
- Government regulations and standards: Governments are actively involved in developing regulations and standards for quantum computing to ensure responsible and ethical development and deployment.
Challenges and Restraints in the North America Quantum Computing Market
- High cost of quantum computing: Quantum computers are expensive to build and operate.
- Lack of skilled workforce: There is a shortage of skilled professionals with expertise in quantum computing.
- Immaturity of quantum computing technology: Quantum computing technology is still in its early stages of development and faces technical challenges.
- Security concerns: Quantum computers could be used to break encryption algorithms, raising security concerns.
Emerging Trends in North America Quantum Computing
- Development of more powerful quantum computers: Quantum computers with more qubits and improved performance are being developed.
- Integration of quantum computing with other technologies: Quantum computing is being integrated with other technologies, such as artificial intelligence and cloud computing, to create new possibilities.
- Emergence of quantum software and algorithms: New quantum software and algorithms are being developed to take advantage of the unique capabilities of quantum computers.
- Growing collaboration between industry and academia: Industry and academia are collaborating to advance quantum computing research and development.
Growth Catalysts in the North America Quantum Computing Industry
- Government funding: Government funding is a major catalyst for the growth of the quantum computing industry in North America.
- Private investments: Private companies are investing heavily in quantum computing research and development.
- Venture capital funding: Venture capital firms are investing in quantum computing startups.
- Corporate partnerships: Partnerships between quantum computing companies and industry leaders are accelerating the adoption of quantum computing technology.
Market Segmentation: North America Quantum Computing Analysis
Component:
- Hardware
- Software
- Service
Deployment:
- On-premise
- Cloud
Application:
- Machine Learning
- Optimization
- Biomedical Simulations
- Financial Services
- Electronic Material Discovery
- Others
End User:
- Healthcare
- Banking, Financial Services and Insurance (BFSI)
Leading Players in the North America Quantum Computing Market
- D-Wave Systems Inc.
- Microsoft Corporation
- Rigetti & Co, Inc.
- Xanadu
- Quantum Xchange
- Seeqc
- QC Ware
- 1QB Information Technologies, Inc.
- Anyon Systems Inc.
- Quantum Circuits Inc. (U.S.)
Recent Mergers & Acquisition
- In 2023, Honeywell Quantum Solutions acquired Cambridge Quantum for an undisclosed sum.
- In 2022, Rigetti & Co, Inc. acquired Super. tech for USD 118 million.
Analyst Comment
The North America quantum computing market is expected to grow rapidly over the next decade. The growth of the market is attributed to the increasing adoption of quantum computing technology across various industries, government initiatives to promote quantum computing research and development, and the rising demand for high-performance computing capabilities.
North America Quantum Computing Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 32.6% from 2019-2033 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Growing Need for Optimizing Infrastructure Budgets to Achieve Business Growth will Ensure Market Expansion
- 3.3. Market Restrains
- 3.3.1. Quantum computers are expensive to build and operate.
- 3.4. Market Trends
- 3.4.1. Growing Implementation of Touch-based and Voice-based Infotainment Systems to Increase Adoption of Intelligent Cars
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. North America Quantum Computing Market Analysis, Insights and Forecast, 2019-2031
- 5.1. Market Analysis, Insights and Forecast - by Component
- 5.1.1. Hardware
- 5.1.2. Software
- 5.1.3. Service
- 5.2. Market Analysis, Insights and Forecast - by Deployment
- 5.2.1. On-Premise
- 5.2.2. Cloud
- 5.3. Market Analysis, Insights and Forecast - by Application
- 5.3.1. Machine Learning
- 5.3.2. Optimization
- 5.3.3. Biomedical Simulations
- 5.3.4. Financial Services
- 5.3.5. Electronic Material Discovery
- 5.3.6. Others
- 5.4. Market Analysis, Insights and Forecast - by End User
- 5.4.1. Healthcare
- 5.4.2. Banking
- 5.4.3. Financial Services
- 5.4.4. Insurance (BFSI
- 5.5. Market Analysis, Insights and Forecast - by Region
- 5.5.1.
- 5.1. Market Analysis, Insights and Forecast - by Component
- 6. United States North America Quantum Computing Market Analysis, Insights and Forecast, 2019-2031
- 7. Canada North America Quantum Computing Market Analysis, Insights and Forecast, 2019-2031
- 8. Mexico North America Quantum Computing Market Analysis, Insights and Forecast, 2019-2031
- 9. Competitive Analysis
- 9.1. Market Share Analysis 2024
- 9.2. Company Profiles
- 9.2.1 D-Wave Systems Inc. (Canada)
- 9.2.1.1. Overview
- 9.2.1.2. Products
- 9.2.1.3. SWOT Analysis
- 9.2.1.4. Recent Developments
- 9.2.1.5. Financials (Based on Availability)
- 9.2.2 Microsoft Corporation (U.S.)
- 9.2.2.1. Overview
- 9.2.2.2. Products
- 9.2.2.3. SWOT Analysis
- 9.2.2.4. Recent Developments
- 9.2.2.5. Financials (Based on Availability)
- 9.2.3 Rigetti & Co Inc. (U.S.)
- 9.2.3.1. Overview
- 9.2.3.2. Products
- 9.2.3.3. SWOT Analysis
- 9.2.3.4. Recent Developments
- 9.2.3.5. Financials (Based on Availability)
- 9.2.4 Xanadu (Canada)
- 9.2.4.1. Overview
- 9.2.4.2. Products
- 9.2.4.3. SWOT Analysis
- 9.2.4.4. Recent Developments
- 9.2.4.5. Financials (Based on Availability)
- 9.2.5 Quantum Xchange (U.S.)
- 9.2.5.1. Overview
- 9.2.5.2. Products
- 9.2.5.3. SWOT Analysis
- 9.2.5.4. Recent Developments
- 9.2.5.5. Financials (Based on Availability)
- 9.2.6 Seeqc (U.S.)
- 9.2.6.1. Overview
- 9.2.6.2. Products
- 9.2.6.3. SWOT Analysis
- 9.2.6.4. Recent Developments
- 9.2.6.5. Financials (Based on Availability)
- 9.2.7 QC Ware (U.S.)
- 9.2.7.1. Overview
- 9.2.7.2. Products
- 9.2.7.3. SWOT Analysis
- 9.2.7.4. Recent Developments
- 9.2.7.5. Financials (Based on Availability)
- 9.2.8 Quantum Circuits Inc. (U.S.)
- 9.2.8.1. Overview
- 9.2.8.2. Products
- 9.2.8.3. SWOT Analysis
- 9.2.8.4. Recent Developments
- 9.2.8.5. Financials (Based on Availability)
- 9.2.9 1QB Information Technologies Inc. (Canada)
- 9.2.9.1. Overview
- 9.2.9.2. Products
- 9.2.9.3. SWOT Analysis
- 9.2.9.4. Recent Developments
- 9.2.9.5. Financials (Based on Availability)
- 9.2.10 Anyon Systems Inc. (Canada)
- 9.2.10.1. Overview
- 9.2.10.2. Products
- 9.2.10.3. SWOT Analysis
- 9.2.10.4. Recent Developments
- 9.2.10.5. Financials (Based on Availability)
- 9.2.1 D-Wave Systems Inc. (Canada)
List of Figures
- Figure 1: North America Quantum Computing Market Revenue Breakdown (USD million, %) by Product 2024 & 2032
- Figure 2: North America Quantum Computing Market Share (%) by Company 2024
List of Tables
- Table 1: North America Quantum Computing Market Revenue USD million Forecast, by Region 2019 & 2032
- Table 2: North America Quantum Computing Market Revenue USD million Forecast, by Component 2019 & 2032
- Table 3: North America Quantum Computing Market Revenue USD million Forecast, by Deployment 2019 & 2032
- Table 4: North America Quantum Computing Market Revenue USD million Forecast, by Application 2019 & 2032
- Table 5: North America Quantum Computing Market Revenue USD million Forecast, by End User 2019 & 2032
- Table 6: North America Quantum Computing Market Revenue USD million Forecast, by Region 2019 & 2032
- Table 7: North America Quantum Computing Market Revenue USD million Forecast, by Country 2019 & 2032
- Table 8: United States North America Quantum Computing Market Revenue (USD million) Forecast, by Application 2019 & 2032
- Table 9: Canada North America Quantum Computing Market Revenue (USD million) Forecast, by Application 2019 & 2032
- Table 10: Mexico North America Quantum Computing Market Revenue (USD million) Forecast, by Application 2019 & 2032
- Table 11: North America Quantum Computing Market Revenue USD million Forecast, by Component 2019 & 2032
- Table 12: North America Quantum Computing Market Revenue USD million Forecast, by Deployment 2019 & 2032
- Table 13: North America Quantum Computing Market Revenue USD million Forecast, by Application 2019 & 2032
- Table 14: North America Quantum Computing Market Revenue USD million Forecast, by End User 2019 & 2032
- Table 15: North America Quantum Computing Market Revenue USD million Forecast, by Country 2019 & 2032
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.
Frequently Asked Questions
2. Which companies are prominent players in the North America Quantum Computing Market?
Key companies in the market include D-Wave Systems Inc. (Canada), Microsoft Corporation (U.S.), Rigetti & Co, Inc. (U.S.), Xanadu (Canada), Quantum Xchange (U.S.), Seeqc (U.S.), QC Ware (U.S.), Quantum Circuits Inc. (U.S.), 1QB Information Technologies, Inc. (Canada), Anyon Systems Inc. (Canada).
3. What are the main segments of the North America Quantum Computing Market?
The market segments include Component, Deployment, Application, End User.
4. Can you provide details about the market size?
The market size is estimated to be USD 717.3 USD million as of 2022.
5. What are some drivers contributing to market growth?
Growing Need for Optimizing Infrastructure Budgets to Achieve Business Growth will Ensure Market Expansion.
6. What are the notable trends driving market growth?
Growing Implementation of Touch-based and Voice-based Infotainment Systems to Increase Adoption of Intelligent Cars.
7. Are there any restraints impacting market growth?
Quantum computers are expensive to build and operate..
8. Can you provide examples of recent developments in the market?
In 2023, Honeywell Quantum Solutions acquired Cambridge Quantum for an undisclosed sum. In 2022, Rigetti & Co, Inc. acquired Super. tech for USD 118 million.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 3850, USD 4850, and USD 5850 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in USD million.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "North America Quantum Computing Market," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the North America Quantum Computing Market report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the North America Quantum Computing Market?
To stay informed about further developments, trends, and reports in the North America Quantum Computing Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.