TechDogs-"Global Quantum Technology Market Analysis Report 2023: A $53.2 Billion Market By 2028 - North America Will Lead, China Will Lead APAC Whilst Germany Will Lead The European Market"

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Global Quantum Technology Market Analysis Report 2023: A $53.2 Billion Market By 2028 - North America Will Lead, China Will Lead APAC Whilst Germany Will Lead The European Market

By PR Newswire

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DUBLIN, May 19, 2023 /PRNewswire/ -- The "Quantum Technology Market by Computing, Communications, Imaging, Security, Sensing, Modeling and Simulation 2023 - 2028" report has been added to's offering. 

This report provides a comprehensive analysis of the quantum technology market. It assesses companies/organizations focused on quantum technology including R&D efforts and potential gaming-changing quantum tech-enabled solutions.

The report evaluates the impact of quantum technology upon other major technologies and solution areas including, Edge Computing, Blockchain, IoT, and Big Data Analytics. The report provides an analysis of quantum technology investment, R&D, and prototyping by region and within each major country globally.

The report also provides global and regional forecasts as well as the outlook for quantum technology's impact on embedded hardware, software, applications, and services from 2023 to 2028. The report provides conclusions and recommendations for a wide range of industries and commercial beneficiaries including semiconductor companies, communications providers, high-speed computing companies, artificial intelligence vendors, and more.

Much more than only computing, the quantum technology market provides a foundation for improving all digital communications, applications, content, and commerce. In the realm of communications, quantum technology will influence everything from encryption to the way that signals are passed from point A to point B. While currently in the R&D phase, networked quantum information and communications technology(ICT) is anticipated to become a commercial reality that will represent nothing less than a revolution for virtually every aspect of ICT.

However, there will be a need to integrate the ICT supply chain with quantum technologies in a manner that does not attempt to replace every aspect of classical computing but instead leverages a hybrid computational framework. Traditional high-performance computing will continue to be used for many existing problems for the foreseeable future, while quantum technologies will be used for encrypting communications, signalling, and will be the underlying basis in the future for all commerce transactions. This does not mean that quantum encryption will replace blockchain, but rather provide improved encryption for blockchain technology.

Quantum Technology Market Beyond Computing

The quantum technology market will be a substantial enabler of dramatically improved sensing and instrumentation. For example, gravity sensors may be made significantly more precise through quantum sensing. Quantum electromagnetic sensing provides the ability to detect minute differences in the electromagnetic field.

This will provide a wide-ranging number of applications, such as within the healthcare arena wherein quantum electromagnetic sensing will provide the ability to provide significantly improved mapping of vital organs. Quantum sensing will also have applications across a wide range of other industries such as transportation wherein there is the potential for substantially improved safety, especially for self-driving vehicles.

Quantum sensing and imaging go hand-in-hand as the former supports the latter and vice versa. Quantum sensing may be used to produce images that reveal information heretofore unobtainable. Conversely, quantum image processing may be used to dramatically improve microscopy, pattern recognition, and segmentation in images. Quantum processes enable detection of image details that would otherwise go unnoticed within the current constraints of background effects/illumination, low light levels, and wavelength limitations.

Commercial applications for the quantum imaging market are potentially wide-ranging including exploration, monitoring, and safety. For example, gas image processing may detect minute changes that could lead to early detection of tank failure or the presence of toxic chemicals. In concert with quantum sensing, quantum imaging may also help with various public safety-related applications such as search and rescue. Some problems are too difficult to calculate but can be simulated and modelled.

Quantum simulations and modelling is an area that involves the use of quantum technology to enable simulators that can model complex systems that are beyond the capabilities of classical. Even the fastest supercomputers today cannot adequately model many problems such as those found in atomic physics, condensed-matter physics, and high-energy physics.

To accomplish this goal, quantum simulators create a more controllable quantum environment to simulate what is actually occurring in nature within a real-world, uncontrollable, inaccessible quantum environment. Quantum simulation and modelling can lead to a variety of practical commercial benefits such as the design of improved computing systems, development of new materials, and predictive analytics for large interdependent systems such as a smart city ecosystem.

Sovereign governments are extremely interested in the quantum technology market and the interest goes way beyond the pride of being the first to be able to claim quantum supremacy for developing a quantum computer that can beat the best classical computer. Governments are interested in quantum technology because of the many military/defense and overall security implications. For example, quantum computing can render all existing encryption useless and exposed to hacking and infiltration.

This means that all financial transactions and state secrets are potentially at risk with quantum computing. Conversely, quantum computing-enabled encryption will be completely unbreakable. In another example, quantum sensing and imaging may be used to detect the presence of aircraft (even stealth fighters).

Advanced Light Detection and Ranging (LIDAR) systems equipped with quantum imaging processes may identify the presence of aircraft based on minute changes in the environment. Conversely, quantum-equipped planes may similarly foil quantum LIDAR detection systems, protecting themselves by projecting images that simulate a normal ambient environment.

Select Report Findings:

  • Overall global quantum technology market will reach $53.2 billion by 2028
  • Quantum computing will lead the market at $17.6 billion by 2028 and 41.2% CAGR
  • North America will be the biggest regional market for quantum technologies overall
  • China will lead the APAC quantum technology market at $6.31 billion by 2028 with 39.1%CAGR
  • Germany will lead the European quantum technology market at $3.9 billion by 2028 with 30.6%CAGR
  • The global quantum dots market will reach $14.9 billion by 2028, growing a 33.7%CAGR and led by displays
  • The quantum sensing market will reach $1.1 billion globally by 2028, nearly twice the size of the quantum imaging market
  • The quantum magnetometer market will reach $998 million globally by 2028, led by superconducting quantum interference devices

Companies Mentioned

  • 1QB Information Technologies Inc.
  • ABB (Keymile)
  • Adtech Optics Inc.
  • Airbus Group
  • Akela Laser Corporation
  • Alibaba Group Holding Limited
  • Aliro Quantum
  • Alpes Lasers SA
  • Altairnano
  • AmberFlux
  • Amgen Inc.
  • Anhui Qasky Science and Technology
  • Anyon Systems Inc.
  • AOSense Inc.
  • Apple Inc. (InVisage Technologies)
  • AT&T
  • Biogen Inc.
  • Block Engineering
  • Booz Allen Hamilton Inc.
  • Boxcat Inc.
  • BT Group
  • Cambridge Quantum Computing Ltd.
  • Carl Zeiss AG
  • Chinese Academy of Sciences
  • Classiq
  • CogniFrame Inc.
  • ColdQuanta Inc.
  • D-Wave Systems Inc.
  • Elyah
  • Emerson Electric Corporation
  • Entropica Labs
  • Fujitsu Ltd.
  • Gem Systems
  • GeoMetrics Inc.
  • Google Inc.
  • GWR Instruments Inc.
  • Hamamatsu Photonics K.K.
  • Hewlett Packard Enterprise
  • Honeywell International Inc.
  • HP Development Company L.P.
  • HRL Laboratories
  • Huawei Cloud
  • IBM Corporation
  • ID Quantique
  • imec
  • Infineon Technologies
  • Intel Corporation
  • IQM Quantum Computers
  • KEEQuant
  • KETS Quantum Security
  • KPN
  • LG Display Co. Ltd.
  • Lockheed Martin Corporation
  • M-Squared Lasers Limited
  • MagiQ Technologies Inc.
  • Marine Magnetics
  • McAfee LLC
  • MicroSemi Corporation
  • Microsoft Corporation
  • Mirsense
  • Mitsubishi Electric Corp.
  • Muquans
  • Nanoco Group PLC
  • Nanoplus Nanosystems and Technologies GmbH
  • Nanosys Inc.
  • NEC Corporation
  • Next Generation Quantum
  • Nippon Telegraph and Telephone Corporation
  • NN-Labs LLC.
  • Nokia Corporation
  • NuCrypt
  • Ocean NanoTech LLC
  • Oki Electric
  • Oscilloquartz SA
  • PQ Solutions Limited (Post-Quantum)
  • Pranalytica Inc.
  • QC Ware Corp.
  • QD Laser Co. Inc.
  • QinetiQ
  • QRCrypto SA
  • QRDLab
  • Quantum Benchmark Labs
  • Quantum Brilliance
  • Quantum Circuits Inc.
  • Quantum Computing Inc.
  • Quantum Machines
  • Quantum Materials Corp.
  • Quantum Thought
  • Qubitekk
  • Qubitrium
  • QuEra Computing
  • Quintessence Labs
  • Qunnect Inc.
  • QuSpin
  • QxBranch LLC
  • Raytheon Company
  • Rigetti Computing
  • Robert Bosch GmbH
  • Samsung Electronics Co. Ltd. (QD Vision Inc.)
  • SeQureNet (Telecom ParisTech)
  • SK Telecom
  • STMicroelectronics
  • Taqbit Labs Pvt Ltd
  • Tencent Quantum Lab
  • Texas Instruments
  • Thorlabs Inc
  • Toshiba Corporation
  • Tristan Technologies
  • Turkcell
  • Twinleaf
  • Universal Quantum Devices
  • Volkswagen AG
  • Wavelength Electronics Inc.
  • ZTE Corporation

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SOURCE Research and Markets

First published on Fri, May 19, 2023

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