Quantum computing (QC) can best be defined as the use of the attributes and principles of quantum mechanics to perform calculations and solve problems. Quantum computers are designed to utilize quantum bits (qubits), which are subatomic particles such as electrons and photons, to represent data. When these qubits are combined, or entangled, they can exist in multiple states (known as superposition). The result is that multiple calculations can be carried out at once, as each qubit can represent a value of 1, 0, or any point in between. A quantum system can process and analyze all data simultaneously and then return the best solution, along with thousands of close alternatives – all within microseconds. However, quantum computers are not destined to replace the processors in personal computers or smartphones anytime soon. For the most part, quantum computers will be best suited to addressing optimization problems, identifying patterns in data, and conducting complex simulations that would be too taxing for traditional, or classical, computers. These issues will drive the global market for enterprise QC. But quantum computers have not yet demonstrated quantum supremacy or quantum advantage. Significantly scaling the processing power, improving error correction abilities, and writing and refining quantum algorithms will be required before enterprises adopt QC en masse. Still, the QC market is expected to grow strongly through 2030. Tractica expects total enterprise QC market revenue to reach $9.1 billion annually by 2030, up from $111.6 million in 2018. This Tractica report examines the market trends and technology issues surrounding quantum computers used by enterprise organizations. The report includes discussion of the 15 industries that are researching or initiating QC projects today and likely will be utilizing the technology in the future. It also includes detailed discussion of 60 use cases, as well as more than 15 key market participants. Enterprise QC market forecasts, segmented by world region, industry, and use case, along with breakouts by hardware, software, storage, and services revenue, extend through 2030.
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