Quantum Technologies Global Market is estimated to be worth $3,518.3 million by 2030

BENGALURU, India - June 15, 2022 - PRLog -- Quantum technologies work based on the principles of quantum mechanics such as quantum superposition, quantum interference, and quantum entanglement and exploits the unique properties of quantum physics to achieve functionality and performance that cannot be achieved using classical physics. There are three main domains such as computing, sensing, and communications, currently, implementing quantum principles in their workflow to outperform the capabilities of classical computing, sensing, and cryptographic solutions.

The market for quantum technologies is segmented based on technology, products, end-user, and geography. Among technologies, the Quantum Sensing segment is accounted for the highest revenue in 2021 and is expected to grow at an early teen CAGR from 2021 to 2030. The Quantum Computing market is expected to grow at a high double digit CAGR from 2021 to 2030. Among the sensors, the Atomic Clock segment is accounted for the highest revenue in 2021 and is expected to grow at an early teen CAGR from 2021 to 2030. The magnetic sensors market is expected to grow at a mid teen CAGR from 2021 to 2030.

Among the applications, the Optimization segment is accounted for the highest revenue in 2021 and is expected to grow at a high double digit CAGR from 2021 to 2030. The simulation segment is expected to grow at a high double digit CAGR from 2021 to 2030. Based on the deployment, cloud-based deployment is accounted for the highest revenue in 2021 and is expected to grow at a high double digit CAGR from 2021 to 2030.

Based on product, the Hardware segment is accounted for the highest revenue in 2021 and is expected to grow at a mid teen CAGR from 2021 to 2030. The services segment is expected to grow at a high double digit CAGR from 2021 to 2030 due to increasing collaborations for services in cloud-based deployment and industrial applications.

Based on end-users, the Aerospace segment is accounted for the highest revenue in 2021 and is expected to grow at a high double digit CAGR from 2021 to 2030. The healthcare segment is expected to grow at a high double digit CAGR from 2021 to 2030.

Based on geography, the North America accounted for the largest revenue in 2021 and is expected to grow at a high double digit CAGR from 2021 to 2030. Europe is expected to grow at a high double digit CAGR from 2021 to 2030.

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