Growing emphasis on reducing cybercrime is expected to drive the growth of the Quantum Computing market.The global quantum computing market was valued at USD 81.6 million in 2018 and is expected to reach USD 381.6 million in 2026, growing at a CAGR of 21.3% from 2019 to 2026.
Global players are investing substantially to develop more capable quantum computing that can cater to various requirements of industries such as automotive, aerospace & defense and healthcare, among others. It is anticipated that this investment will reflect in the growing demand for quantum computing technology over the forecast period.
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The rising focus on tackling cybercrimes is one of the main drivers for the growth of the global quantum computing market over the forecast period. Moreover, the massive change in the approach of various industrial sectors which involves emphasis on adopting new technologies is expected to enhance the market size. This also expected to open investment opportunities in the global market for the manufacturers in the coming years.
However, the lack of skilled professionals is one of the factors which is expected to hamper the growth of the global quantum computing market during the forecast period. Moreover, a limited number of platforms is the prime challenge in the global quantum computing market throughout the forecast period.