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Quantum Computing Market Size To Hit USD 18.16 Billion at a 34.3% CAGR by 2030 – Report by Market Research Future (MRFR)

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New York, US, Sept. 29, 2022 (GLOBE NEWSWIRE) — Acording to a comprehensive research report by Market Research Future (MRFR), “Quantum Computing Market: By Application, Vertical, Product Type, and Region- Forecast till 2030”,  the market is anticipated to flourish substantially during the assessment timeframe at a healthy CAGR of approximately 34.3% to attain a valuation of around USD 18.16 Billion by the end of 2030.

Quantum Computing Market Overview:

Quantum computing is an area of interest for quantum information science research. The technology has earlier started attracting R&D investments to achieve quantum supremacy. Quantum computing guarantees brilliant potential in various areas, like medical research, artificial intelligence, traffic optimization, financial modelling, and weather forecasting.

Competitive Analysis

The list of leading players across the global market for quantum computing includes companies such as:

  • QxBranch, Inc.
  • Intel Corporation
  • Rigetti & Co, Inc.
  • Atos SE
  • D-Wave Systems Inc.
  • Cambridge Quantum Computing Ltd.
  • QRA Corp
  • IBM Corporation
  • Google
  • QC Ware Corp.

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Market USP Covered

Quantum Computing Market Drivers

The global market for quantum computing has overgrown in the last few years owing to the aspects such as widespread applications in the aerospace & defense sector, increasing implementations of machine learning, growing quantum computing from several end-use sectors, and the cumulative rate of cybercrimes.

On the contrary, the absence of experienced professionals may limit the market’s growth.

Report Scope:

Report Metrics Details
  Market Size by 2030 USD 18.16 Billion
  CAGR during 2022-2030 34.3%
 Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
 Key Market Opportunities The national quantum strategy offers Atos the opportunity to accelerate its Quantum Learning Machine (Atos QLM) expertise to offer the French quantum ecosystem with the benefits of quantum computing in the NISQ (Noisy Intermediate-Scale Quantum) era as soon as possible.
  Key Market Drivers The escalated investment level being directed from the governments is expected to have a broad effect on the global market.

Quantum Computing Market Restraints

On the contrary, complexity in quantum computing implementations may restrict the market’s growth.

Browse In-depth Market Research Report (117 Pages) on Quantum Computing Market:

https://www.marketresearchfuture.com/reports/quantum-computing-market-2583

COVID-19 Impact

The global health crisis in the form of COVID-19 has had a massive impact on several industry areas across the globe. The pandemic affected nearly 225 nations, leading to several governments implementing partial or complete lockdowns. Unlike other industry sectors, the global market for quantum computing witnessed a substantially positive impact due to the pandemic. With global financial or industrial activities returning to normal, the global market for quantum computing is anticipated to grow substantially over the coming years.

Quantum Computing Market Segment Analysis

Among all the product types, the hardware segment is predicted to ensure the top spot across the global market for quantum computing over the assessment timeframe. The segment accounted for the maximum share of approximately 44.9% across the global market in 2017. the report further predicts the hardware segment to flourish substantially during the review era at a healthy rate of approximately 32% to attain a valuation of around USD 1,180 million by the end of 2030.

Among all the application areas, the optimization segment is predicted to hold the top position across the global market for quantum computing over the coming years. the segment accounted for a share of approximately 37.6% in the year 2017, with a valuation of USD 201.41 million. The reports by MRFR suggest that the market will flourish substantially at a robust CAGR of approximately 31.7% during the assessment era.

Among all the end-use sectors, the aerospace and defense verticals are predicted to hold the top position across the global market for quantum computing over the review era. The segment was valued at approximately USD 118.04 million in the year 2017. The report anticipates the segment to grow at a substantial CAGR of around 38.3% during the review era. Quantum computing technology seeks prevalent application in aerospace & defense sectors for aerodynamic performance simulation, critical modeling, and space exploration verification.

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Quantum Computing Market Regional Analysis

The global market for quantum computing is analyzed across five major regions: North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.

According to the research reports by MRFR, the North American region is predicted to secure the leading [position across the global market for quantum computing over the assessment timeframe. The region comprises several leading growth contributors, such as Mexico, Canada, and the US. The primary parameter supporting the growth of the regional market is the presence of key technology providers such as Google, Intel, IBM Corporation, and various others. Furthermore, well-established technology development centers across the region are a prime driving force for the market. Moreover, the growing research & development activities in building quantum computing maths, quantum computing applications, and quantum computers will enhance the market’s size over the coming years. In addition, the vast acceptance of the technology by aerospace & defense sectors and government agencies for machine learning boost the regional market’s growth over the evaluation period. Given the rapid technological developments, the region has the US as a leading growth contributor.

The quantum computing market for the European region is predicted to hold the second position globally over the review era. The region consists of Italy, France, Germany, and the UK. The primary parameter supporting the regional market’s growth is the significant investments by market participants. Furthermore, the growing number of initiatives and funding by governments across several nations in the European region is also predicted to influence the growth of the regional market. In addition, major players such as Cambridge Quantum Computing Ltd. are also predicted to influence the growth of the regional market over the coming years.

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The Asia-Pacific regional market for quantum computing is anticipated to show the maximum CAGR over the coming years. the prime aspects supporting the regional market’s growth include rapid growth in manufacturing sectors and the vast adoption of quantum computers. Moreover, the substantial progress in quantum computing technology across nations such as South Korea and China boosts the adoption of quantum computers across the BFSI sector. It is projected to influence the regional market’s growth over the evaluation time. The region consists of South Korea, India, Japan, and China.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

PractiTest Pushes Boundaries of Test Management with Milestones Release

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REHOVOT, Israel, May 6, 2024 /PRNewswire/ — PractiTest, a leader in innovative test management solutions, continues to push the boundaries with the release of Milestones, a powerful project management module enabling QA teams to align and stay connected to business goals. PractiTest’s New Milestones Module empowers QA teams to define high-level testing objectives within set timeframes. This results in well-defined roadmaps for sprint planning, major releases, or other pivotal project Milestones. By setting these objectives, QA teams gain a focused understanding of their contribution to broader business objectives and deadlines.

“Milestones have given us increased granularity in our ability to organize our testing,” says Tony, a system engineer at Battelle. “Having traceability was good, but Milestones allow us to plan much more clearly and easily.”
Milestones establish a seamless link between QA initiatives and overarching business strategies, ensuring testing efforts directly contribute to achieving company objectives. By defining clear testing objectives and schedules for each project phase, QA teams can stay on track and ensure efficient use of resources. The Milestones module also improves visibility, providing a high-level overview of the entire testing process and promoting seamless communication and collaboration among cross-functional teams.
PractiTest’s Commitment to Innovation
The release of Milestones reaffirms PractiTest’s dedication to providing cutting-edge solutions that empower QA teams to thrive.
“In today’s competitive environment, ensuring QA aligns with business objectives is imperative,” says Yaniv Iny, CEO of PractiTest. “The Milestones module is a testament to our commitment to empowering QA teams to evolve into strategic partners, fostering quality and delivering tangible outcomes while staying in sync with overarching business objectives.”
About PractiTest
PractiTest is an end-to-end test management platform designed to simplify and untangle complexity for complex and robust environments. PractiTest centralizes all your QA work, processes, teams, and tools into one platform to bridge silos, unify communication, and enable one source of truth across your organization. With PractiTest you can make informed data-driven decisions based on end-to-end visibility provided by customizable reports, real-time dashboards, and dynamic filter views.
For more information about PractiTest visit: https://www.practitest.com/
Media Contact:May [email protected]
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Artificial Intelligence

EZVIZ unveils its groundbreaking H9c Dual-lens Smart Pan-and-tilt Camera series: a new paradigm for automated, all-round outdoor protection

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By combining a pan-and-tilt panoramic lens and a fixed 180-degree wide-angle lens, one H9c Dual smartly secures large areas with performance better than that of two ordinary ones.
HOOFDDORP, Netherlands, May 6, 2024 /PRNewswire/ — EZVIZ, a leading global player in innovative smart home security, proudly introduces the H9c Dual series, its latest dual-lens outdoor pan-and-tilt cameras that redefine smart protection for homes and small businesses. With options in 2K and 3K resolutions, their groundbreaking design combines a sharp bullet camera and a flexible PT camera, addressing complex security needs effectively. The interlinked dual lenses work collaboratively to safeguard wide property areas, detect and track activities, and offer auto-patrol options for hands-free security.

“The H9c Dual challenges traditional outdoor cameras with unrivaled vision, unmatched automation, and high versatility for basically any scenario,” said Candice Tu, the lead product manager, “EZVIZ leads the way in the development and application of advanced dual-lens technology. This underlines our dedication to bringing cutting-edge technology within reach for practical, everyday situations.”
At the core of the H9c Dual is its groundbreaking dual-lens technology, highlighted by EZVIZ’s distinctive co-action function. The two lenses can work independently at two static viewing angles or act together as a team. When the fixed lens detects motions, the pan-and-tilt lens automatically rotates to track the same activity. This co-action function can also be manually controlled through the EZVIZ App.
The series addresses unnoticed blind spots by offering a 180-degree comprehensive view in a single frame, supplemented by the bottom PT lens for intricate close-ups. Both lenses, with high resolutions of 2K/3K, use built-in AI chips to detect people and vehicles in customizable zones, ensuring users are informed of crucial activities. Users can set up to four patrol spots for the PT lens to complete automatic rotations on a schedule.
Equipped with powerful LEDs, the H9c Dual provides color night vision up to 40 meters and warns potential trespassers with a loud siren and dazzling flashlight upon detection. Offering superior protection compared to a traditional two-camera system, the H9c is a breeze to set up thanks to its adaptable mounting design. Users can manage and control their H9c through the user-friendly EZVIZ App, and enjoy seamless integration with prevailing voice assistants and the larger EZVIZ ecosystem.
Learn more at www.ezviz.com.
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Artificial Intelligence

Red light therapy for repairing spinal cord injury passes milestone

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BIRMINGHAM, England, May 6, 2024 /PRNewswire/ — Patients with spinal cord injury (SCI) could benefit from future treatment to repair nerve connections using red and near-infrared light.

The method, invented by University of Birmingham scientists and patented by University of Birmingham Enterprise, delivers light directly to the site of the injury. 
Their latest research, published in Bioengineering and Translational Medicine, determined an optimal ‘dose’ for this novel approach, and showed it can deliver therapeutic improvements including significant restoration of sensation and movement, and regeneration of damaged nerve cells. 
Researchers led by Professor Zubair Ahmed used cell models of SCI to determine the frequency and duration of light required to achieve maximum restoration of function and stimulate nerve cell regrowth. 
They found delivery at a wavelength of 660nm for one minute a day increased cell viability (the number of live cells) by 45% over five days’ treatment. 
Professor Ahmed said: “The effect of 660nm light was both neuroprotective, meaning it improved survival of nerve cells, and neuroregenerative, meaning it stimulated nerve cell growth.” 
The researchers also investigated the effect of light therapy in preclinical models of SCI, using an implantable device and transcutaneous delivery with the light source placed against the skin. They showed comparable results for both methods, with a one-minute dose of 660nm light, delivered daily for seven days resulting in reduced tissue scarring, increased levels of proteins associated with nerve cell regeneration, improvements in the connections between cells and significant functional recovery. 
This is the first time transcutaneous and direct light delivery have been compared in SCI. Professor Ahmed said: “To make light therapy viable for treating SCI in humans an implantable device will be required, to provide line of sight to damaged tissue and the opportunity for greater accuracy and standardise dosing without impedance due to the thickness of the skin and other tissues surrounding the spinal cord.”
The researchers are planning to develop an implantable device for use in humans with traumatic SCI. They have already received further funding and are seeking commercial partners or investors to develop a prototype device to take into first-in-man clinical trials.
Full release here. 
University of Birmingham Enterprise helps researchers turn ideas into products and services that meet real-world needs. Follow us on LinkedIn and X.
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Media enquiries: Ruth Ashton
Commercial enquiries: Veemal Bhowruth

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