According to the research report titled ‘Quantum Computing Market Size By Component (Software, Service), By Deployment Model (Cloud, On-premise), By Application (Optimization, Simulation, Machine Learning, Sampling, Others), By End-user (BFSI, Aerospace & Defense, Automotive, Healthcare, Government, Energy, Chemical, Others), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2028,’ available with MarketStudyReport, global quantum computing market is slated to display strong augmentation during 2021-2028

Growing focus on solving complex problems, rising demand for effective computing tools across end-user sectors, and massive government initiatives for such solutions are factors leading to the development of global quantum computing industry.

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For those unaware, quantum computers have the ability to process huge amounts of data at a faster pace compared to others. 

Besides, for efficient computing solutions, prominent participants are adopting innovative strategies to create a strong foothold, thus enhancing the market dynamics.

Despite the optimistic reach, a dearth of technical expertise to furnish quantum bits, coupled with huge consumption of energy are likely to hinder the progress of market during the review period. 

In terms of application spectrum, the sampling segment is estimated to record a 25% CAGR, amassing a notable valuation by the end of the forecast period, due to widespread adoption of quantum computing solutions in sampling applications. 

Concerning end-user perspective, the energy vertical of global quantum computing market is anticipated to expand at 25% CAGR through 2028, owing to the soaring utilization of quantum computers in oil & gas production. 

From a regional perspective, Latin America market is poised to develop at 30% CAGR during the assessment timeframe, backed by the massive expansion of infrastructure across the region which is boosting product outlook.

Additionally, Middle East & Africa market is speculated to register 30% CAGR during the analysis period, by virtue of huge investments employed by the governments in the field. 

The prominent players in worldwide quantum computing market include Rigetti Computing, 1QB Information Technologies Inc., Quantum Circuits Inc., Accenture plc, Quantica Computacao, Amazon Web Services Inc., QC Ware, Microsoft Corporation, Cambridge Quantum Computing, International Business Machine (IBM) Corporation, D-Wave Systems Inc., Huawei Technologies Co. Ltd., Fujitsu Limited, Google LLC, and Honeywell International Inc. among others.