Quantum computing is an emerging technology. Its market size is going to increase in the coming years due to the developments.
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Despite the early introduction in the 1980s, the market size of quantum computing is not reached to the level where it needed to be. It is due to its slow development speed. Quantum computing has seen more developments over the past few years.
The average global market size of quantum computing was about $ 80 million in 2018. The market size is expected to grow substantially over the coming years due to the ongoing developments related to quantum computing around the world in different fields, such as automotive, healthcare, computer security, and artificial intelligence.
As for the quantum computing market by regions, North America seems to have a higher market value as compared to other countries, mainly due to developed countries such as Canada and the US. These countries are undertaking various projects on quantum computing. Furthermore, the US the leading IT companies, such as Amazon, Google, IBM and Microsoft, which are working on quantum computing.
North America is followed by Europe mainly of Germany, France, and the UK, which are also well-developed countries and working on developing quantum computing technology.
Some of the recent developments related to quantum computing include the launch of Cirq, by Google, in July 2018, which is the open-source framework for NISQ (Noisy Intermediate Scale Quantum) computers. PyQuil 1.9 was also released in 2018, by Rigetti & Co, Inc. PyQuil is the toolkit for running and constructing quantum computers programs.
Amazon also launched quantum computing services through its cloud platform in December 2019. According to the services offered by Amazon, the customers will be able to do experiments on quantum computing services over the cloud.