Global Quantum AI Market Size, Share, and COVID-19 Impact Analysis, By Component (Software, Hardware, and Services) By Deployment Model (Cloud-Based, On-Premises, and Others), By Application (Machine Learning & Optimization, Cryptography & Security, Simulation & Modeling, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.

Industry: Electronics, ICT & Media

RELEASE DATE Feb 2024
REPORT ID SI3697
PAGES 200
REPORT FORMAT PathSoft

Global Quantum AI Market Insights Forecasts to 2033.

  • The Global Quantum AI Market Size was Valued at USD 239.4 Million in 2023.
  • The Market Size is Growing at a CAGR of 32.40% from 2023 to 2033.
  • The Worldwide Quantum AI Market Size is Expected to Reach USD 3900 Million by 2033.
  • Asia Pacific is expected to grow the fastest during the forecast period.

Global Quantum AI Market

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The Global Quantum AI Market Size is Anticipated to Exceed USD 3900 Million by 2033, Growing at a CAGR of 32.40% from 2023 to 2033.

 

Market Overview

The combined application of artificial intelligence and quantum computing is known as quantum AI. Through the integration of artificial intelligence (AI) and quantum computing, scientists aim to develop machines that can tackle issues that are currently unsolvable. By combining concepts from quantum physics and artificial intelligence (AI), quantum artificial intelligence (QAI) aims to enhance AI systems' capabilities. Through the application of quantum computing techniques, it explores the prospect of solving difficult computational problems faster and more efficiently than with conventional computers. In vocal and picture recognition, quantum AI might have significant consequences. At present, machine learning algorithms perform these functions, however, they additionally require a lot of data and processing capacity. This procedure might be completed far more rapidly and precisely with the help of quantum AI, which can drive the global quantum AI market growth. Furthermore, the global quantum AI market has witnessed a rise in acceptance from a variety of industries due to the quantum machine learning algorithms' potential for optimization. Since quantum AI can improve machine learning models' precision and efficacy, it has the potential to revolutionize several industries, including banking, healthcare, logistics, and more. Enterprises are investigating quantum AI uses for activities including modeling, pattern identification, and optimization to obtain a competitive advantage through sophisticated data analysis.

 

Report Coverage

This research report categorizes the market for the global quantum AI market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global quantum AI market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global quantum AI market.

 

Global Quantum AI Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023:USD 239.4 Million
Forecast Period:2023-2033
Forecast Period 2023-2033 CAGR:32.40%
2033 Value Projection:USD 3900 Million
Historical Data for:2019-2022
No. of Pages:200
Tables, Charts & Figures:115
Segments covered:By Component, By Deployment Model, By Application, By Region
Companies Covered:Alibaba Group, Quantinuum, Rigetti, Intel, IBM, Zapata, Microsoft, Amazon Braket, Anyon Systems, Atlantic Quantum, Atom Computing, Atos, Bleximo, C12 Quantum Electronics, D-Wave, EeroQ, Diraq, Google Quantum AI., Alice & Bob, Alpine Quantum Technologies (AQT), and other key companies.
Pitfalls & Challenges:Covid-19 Empact,Challenges,Growth, Analysis.

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Driving Factors

The corporate sector and government initiatives are both consistently funding the advancement of quantum AI technologies. For instance, the governments of China, the USA, Australia, and the European Union are providing financial assistance for quantum AI technology advancements, and high-profile American corporations are actively investing in this field to remain competitive. As a result, quantum computing applications and their commercialization have grown. Furthermore, the widespread application of quantum AI technology across a range of industries, including retail and finance, is indicative of industry advancements. As a result, the main driver of the global quantum AI market's constant growth includes these expenditures.

 

Restraining Factors

The setup and administration costs of the equipment and facilities needed for quantum computing are still substantial, which will hamper certain companies from accessing the global quantum AI market. Since quantum AI is still in its infancy and is confronted with technical challenges about scalability, error correction, and qubit stability, these issues will harm the global quantum AI market. Despite the enormous potential of quantum computing, its current applications are restricted to particular use cases, which could impede the widespread adoption of the global quantum AI Market.

 

Market Segmentation

The Global Quantum AI Market share is classified into component, deployment model, application

  • The hardware segment is expected to hold the largest share of the global quantum AI market during the forecast period.   

Based on the component, the global quantum AI market is divided into software, hardware, and services. Among these, the hardware segment is expected to hold the largest share of the global quantum AI market during the forecast period. As a result of the fundamental significance of quantum computers and their critical role in propelling the capabilities and achievements of the industry, the hardware segment is currently regulating the global quantum AI market. the global quantum AI market's hardware segment's ongoing growth paves the way for quantum AI to be used more widely and significantly in a variety of sectors and applications.

 

  • The on-premises segment is expected to hold the greatest share of the global quantum AI market during the forecast period.    

Based on the deployment model, the global quantum AI market is divided into cloud-based, on-premises, and others. Among these, the on-premises segment is expected to hold the greatest share of the global quantum AI market during the forecast period. This is due to several important characteristics that highlight the strategic benefits of integrating quantum computing capabilities into an organization's physical infrastructure, the on-premises segment of the global quantum AI market has the largest market share.

 

  • The machine learning & optimization segment is expected to grow at the greatest pace in the global quantum AI market during the forecast period.

Based on the application, the global quantum AI market is divided into machine learning & optimization, cryptography & security, simulation & modeling, and others. Among these, the machine learning & optimization segment is expected to grow at the greatest pace in the global quantum AI market during the forecast period. This is because computers are becoming more and more popular, and the machine learning segment has grown in the global quantum AI market. It aids users in learning about the evaluation of quantum error-correcting codes, quantum system properties, and the creation of new quantum algorithms.

 

Regional Segment Analysis of the Global Quantum AI Market

  • North America (U.S., Canada, Mexico) 
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Rest of APAC)
  • South America (Brazil and the Rest of South America) 
  • The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

North America is anticipated to hold the largest share of the global quantum AI market over the predicted timeframe.

North America is anticipated to hold the largest share of the global quantum AI market over the predicted timeframe. This is because of a combination of elements that place the area at the forefront of developments in artificial intelligence and quantum computing. The majority of the top technology businesses and research institutes in the world that are driving innovation in quantum computing are located in the United States specifically. The substantial expenditures made in the development and commercialization of quantum computing technologies by key technological giants such as IBM, Google, and Microsoft highlight the dominance of quantum AI in North America. By establishing research labs for quantum computing, collaborating with academic institutions, and launching cloud-based quantum computing services, these companies have promoted an atmosphere that encourages creativity and experimentation. In addition, the thriving venture capital scene in North America supports the expansion of up-and-coming quantum AI-focused firms.

 

Asia Pacific is expected to grow at the fastest pace in the global quantum AI market during the forecast period. This is because nations like China and South Korea are experiencing an increase in demand for cutting-edge quantum artificial intelligence (AI) and computing service systems as a result of the continued acceleration of technological breakthroughs. These emerging countries see the potential of this technology and are making significant investments to fulfill the growing demands from a variety of industries, including the energy and power sectors, healthcare and pharmaceuticals, defense, and space exploration. As a result, the use of quantum AI and computing services has increased dramatically, making these countries leaders in the global quantum AI market.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global quantum AI along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Alibaba Group
  • Quantinuum
  • Rigetti
  • Intel
  • IBM
  • Zapata
  • Microsoft
  • Amazon Braket
  • Anyon Systems
  • Atlantic Quantum
  • Atom Computing
  • Atos
  • Bleximo
  • C12 Quantum Electronics
  • D-Wave
  • EeroQ
  • Diraq
  • Google Quantum AI.
  • Alice & Bob
  • Alpine Quantum Technologies (AQT) 
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting And Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Developments

  • In April 2023, a collaboration between Moderna and IBM was announced to explore how AI and quantum computing could advance and hasten mRNA research and scientific advancement.

 

  • In March 2023, working with IBM, the Cleveland Clinic unveiled the first-ever on-site, privately-owned quantum computer in the United States that is operated by IBM, mainly for medical research.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Quantum AI Market based on the below-mentioned segments: 

 

Global Quantum AI Market, By Component

  • Software
  • Hardware
  • Services

 

Global Quantum AI Market, By Deployment Model

  • Cloud-Based
  • On-Premises
  • Others

 

Global Quantum AI Market, By Application

  • Machine Learning & Optimization
  • Cryptography & Security
  • Simulation & Modeling
  • Others

 

Global Quantum AI Market, By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • Uk
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Qatar
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions (FAQ)

  • 1. Which are the key companies that are currently operating within the market?
    Alibaba Group, Quantinuum, Rigetti, Intel, IBM, Zapata, Microsoft, Amazon Braket, Anyon Systems, Atlantic Quantum, Atom Computing, Atos, Bleximo, C12 Quantum Electronics, D-Wave, EeroQ, Diraq, Google Quantum AI., Alice & Bob, Alpine Quantum Technologies (AQT), and others.
  • 2. What is the size of the global quantum AI market?
    The Global Quantum AI Market is expected to grow from USD 239.4 Million in 2023 to USD 3900 Million by 2033, at a CAGR of 32.40% during the forecast period 2023-2033.
  • 3. Which region is holding the largest share of the market?
    North America is anticipated to hold the largest share of the global quantum AI market over the predicted timeframe.

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