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Pune, India, March 04, 2022 (GLOBE NEWSWIRE) -- The global Quantum Computing Market size was USD 392.5 million in 2020. The market is expected to grow from USD 486.1 million in 2021 to USD 3,180.9 million in 2028, exhibiting a CAGR of 30.8% during the forecast period. Increasing product applications and incorporating artificial intelligence (AI) and machine learning (ML). Fortune Business Insights presents this information in its report titled Quantum Computing Market, 2021-2028.

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Quantum computing is an advanced computer technology based on quantum theory and quantum mechanics. It deploys 0 and 1 bits but utilizes every state between 0 and 1, thereby providing excellent speeds. Its increasing applications in algorithms, cryptography, quantum parallelism, quantum simulation, and machine learning are expected to boost its sales. Furthermore, incorporating AI and ML technologies is expected to boost demand. These factors may propel the market growth during the upcoming years.

COVID-19 Impact

Rising Dependence Upon Digital Computing Solutions to Fuel Market Development

This market is expected to be positively impacted during the COVID-19 pandemic because of the rising dependence upon digital computing solutions. The alarming spike in COVID patients and the emergence of new virus variants may lead to the adoption of work-from-home and digitization. Rapid digitization and the adoption of advanced software may boost the adoption of the product. Furthermore, the rising adoption of e-commerce is expected to support industrial progress during the pandemic.

Players Profiled in the Quantum Computing Market Report

Click here to get the short-term and long-term impact of COVID-19 on this market.

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Segmentation

By component, the market is segmented into services, software, and hardware. By deployment, it is bifurcated into cloud-based and on-premise. Based on application, it is classified into electronic material discovery, financial services, biomedical simulations, optimization, machine learning, and others. As per end-users, it is categorized into manufacturing, chemical, energy and utilities, researchers, automotive, banking, financial services, and insurance (BFSI), healthcare, and others. Regionally, it is grouped into North America, South America, Europe, Middle East & Africa, and Asia Pacific.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

Drivers and Restraints

Rising Government Investments and Strategic Alliances to Drive Industry Growth

Governments make extensive investments in quantum computing technologies to boost its adoption. For example, the German Federal Ministry of Education and Research provided USD 50.3 million to fund the Ion Trap Computer development in December 2021. This factor may boost the adoption of the computing solution. Furthermore, increasing strategic alliances may fuel the development of better-quality computing solutions. Moreover, rapid digitization and reliance on the Internet of Things (IoT) may boost its sales. These factors may drive the quantum computing market growth.

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Regional Insights

Early Adoption of Advanced Technologies to Fuel Market Growth in North America

North America is projected to dominate the quantum computing market share because of the early adoption of advanced technologies. The market in North America stood at USD 171.4 million in 2020 and is expected to gain a huge portion of the global market share. Further, the presence of a competitive market and adoption of latest technologies by end-users may augment market growth.

In Europe, the emergence of several startups, regulatory environments, and the rising adoption of cloud technologies is expected to boost sales. Furthermore, the expansion of businesses by key players is expected to boost market development.

In Asia Pacific, the rising demand for quantum computing solutions for machine learning, optimization, and simulation is expected to foster market development. Also, extensive adoption of novel technologies from the industrial sector is expected to surge industry development.

Competitive Landscape

Companies Launch Novel Products to Boost Brand Image

Prominent companies operating in the market launch novel products to boost their brand image. For example, Zurich Instruments announced its novel Superconducting Qubit Controller in November 2021. It integrates the qubit control and readouts to achieve 6 qubits in a device. SHFSG Signal Generator produces microwave pulses, and SHFQA Quantum Analyzer is fused together in a single box. It may enable companies to entice consumers and boost their brand image globally. Furthermore, adopting partnerships, mergers, research and development, expansions, and acquisition strategies may enable companies to achieve a remarkable market position.

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Industry Development

Table of Content

TOC Continued..

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Quantum Computing Market to Grow Exponentially; Increasing - GlobeNewswire

Welcome to Quantiki

Welcome to Quantiki, the world's leading portal for everyone involved in quantum information science. No matter if you are a researcher, a student or an enthusiast of quantum theory, this is the place you are going to find useful and enjoyable! While here on Quantiki you can: browse our content, including fascinating and educative articles, then create your own account and log in to gain more editorial possibilities.

Add new content, such as information about upcoming quantum events, open positions for quantum scientists and existing quantum research groups. We also encourage to follow us using social media sites.

Tuesday, October 18, 2022 to Monday, October 24, 2022

The MWI solves the measurement problem, avoids action at a distance and indeterminism and does not contradict empirical evidence. Why, then, it is not in the consensus? The workshop will aim to promote the ongoing debate on the foundations of quantum mechanics by dealing with the major open questions regarding the MWI and its alternatives.

Thursday, April 7, 2022 to Sunday, August 7, 2022

Mini-conference at the intersection between classical and quantum variational algorithms to study quantum many-body systems.5 days of focused lectures and discussions among the 50 partecipants on a large terrace with boards and a beautiful view on the Geneva Lake. Registration is free and local expenses are covered by our sponsors. We encourage partecipants to submit a contributed talk.

A post-doctoral position is open at the Interdisciplinary Research Institute of Grenoble (IRIG) of the CEA Grenoble (France) on the theory and modeling of silicon/germanium spin quantum bits (qubits). The selected candidate is expected to start in July 2022 (or later), for up to three years.Global context:

We are looking for a postdoctoral researcher for the new Quantum Computing research group of Mariami Gachechiladze at the Technical University of Darmstadt, Germany.

Research area and topics: A successful candidate is expected to work on interdisciplinary projects within quantum information processing and foundations of quantum mechanics.

Thetheoretical division of Quantum Algorithms, directed by Prof. Leandro Aolita, at theQuantum Research Centre(QRC)of the Technology Innovation Institute(TII), in Abu Dhabi, UnitedArabEmirates, together with the Quantum Technology Research Group, directed by Junior ProfessorMartin Kliesch, at the Theoretical Physics Department of the Heinrich-Heine University of Dsseldorf (HHU), Germany, is seeking ahighly talented and motivated candidate for a PhD position in quantum algorithms and quantum computation theory.

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Quantiki | Quantum Information Portal and Wiki

Imagine looking for a needle in a haystack by examining each piece of hay. What if you could analyse the entire haystack at once, cutting down the location time of the needle drastically? This is what quantum computing can do compared to conventional computing.

Quantum computing could accelerate drug development, enhance encryption security and more. But how could it benefit the manufacturing industry? Here Neil Ballinger, Head of EMEA at EU Automation, explores the future of quantum computing for manufacturing.

Traditional computing represents information using a series of bits, where each bit is assigned a one or zero. Quantum computing, on the other hand, represents information in quantum bits or qubits. Each qubit can stand for an infinite number of states between one and zero.

In comparison to conventional computers, quantum computers can process a more substantial range of values concurrently. This means that quantum computers can solve even the most computationally intensive problems much faster than classical computers. Quantum computers are capable of outrunning even the most sophisticated supercomputers and solving issues currently unsolvable.

Its important to remember that comparing a classical computer to a quantum computer is essentially like comparing a candle to a lightbulb or bicycle to a jet plane, explained Vishal Shete, Head of Quantum Value Creation at Sia Partners. Quantum computing is a completely new paradigm shift that opens up a range of possibilities.

The application of quantum computing could open up infinite possibilities in a variety of fields, including manufacturing. The use of quantum computing could help create high energy-dense batteries, materials with more strength-to-weight ratios, and more efficient synthetic and catalytic processes.

However, these are not the only benefits quantum computing could have on the manufacturing industry the technology could benefit manufacturing design, control and supply chain.

Quantum computing could change the way manufacturers design products. Currently, computer simulation plays a crucial role in product design and pretesting. However, using computer simulations, safety margins can accumulate causing product weight differences and higher cost products.

If quantum computing was to replace conventional computer simulations, calculations for individual components paths, noise, vibrations and system loads could be inputted, increasing precision and accuracy. This would likely optimise the manufacturing of individual parts whilst still considering the overall system and reducing the impact of numerous safety margins. This would allow manufacturers to lower costs without sacrificing the performance of the system.

Product design is not the only part of the manufacturing process that could benefit from quantum computing. Manufacturing control processes can be complex, often testing the limits of advanced analytics. Combing quantum computing with machine learning could mean faster optimisation runs. This combination could allow manufacturers to go beyond the current limitations of classical computing by analysing additional interactive factors and processes to increase production yields.

Using quantum computing for supply chain and logistics would also enable the transformation of the manufacturing supply landscape. The application could optimise vendor orders, lower operational costs, reduce lost sales and improve accompanying logistics using dynamic real time decision making. Quantum computing could be the perfect addition to the digital supply chain toolbox of Industry 4.0.

Despite the benefits of quantum computing, this technology could also impact current encryption systems, having the capacity to break all current encryption codes and posing a threat to the internet, e-commerce, e-banking and mobile data as we currently know it. However, there is ongoing research on developing encryptions that quantum computers cannot break.

Instead of looking at quantum computing as a threat to the digital world as we know it, its important that manufacturers focus on its potential to revolutionise processes, while keeping an eye on new developments in cybersecurity that would allow them to safely implement this technology.

There may still be a long way to go, but quantum computing is set to become a key instrument for manufacturers. This technology could provide a clear edge to those ready to adopt a quantum future.

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The potential of quantum computing for manufacturing - The Manufacturer

ARLINGTON, Va. U.S. military researchers are asking two research organizations to find new ways of measuring the long-term utility of next-generation quantum computing technology for military applications.

Officials of the U.S. Defense Advanced Research Projects Agency (DARPA) in Arlington, Va., announced contracts in February to Raytheon BBN in Cambridge, Mass., and to the University of Southern California (USC) in Los Angeles for the Quantum Benchmarking program.

DARPA is asking Raytheon BBN and USC to determine if industry could design application-specific and hardware-agnostic benchmarks to test the utility of and best applications for quantum computers, as well as estimate the hardware resources necessary for quantum computing operations.

Raytheon BBN won a $2.9 million contract on 24 Feb. 2022, and USC won a $4.1 million contract on 23 Feb. 2022 for the DARPA Quantum Benchmarking program.

Related: Researchers approach industry for test metrics to measure the utility and efficiency of quantum computing

Future generations of quantum computing are expected to solve computing problems of unprecedented size and complexity, or those that today's most powerful computers are unable to solve. Quantum computing represents a new computing paradigm that capitalizes on the quantum mechanical phenomena of superposition and entanglement to create states that scale exponentially with number of quantum bits.

Experts believe that quantum computers within the next few decades will revolutionize scientific and technical fields like machine learning, quantum chemistry, materials discovery, molecular simulation, many-body physics, classification, nonlinear dynamics, supply chain optimization, drug discovery, battery catalysis, genomic analysis, fluid dynamics, and protein structure prediction.

For some of these examples, quantum computers are expected to be useful simulators. In others, quantum computers will be expected to handle combinatorial complexity that is intractable for conventional computers.

What today's computer scientists don't know, however, is what size, quality, and configuration of quantum computer would enable kinds of advances that military systems integrators will need in the future.

Related: Wanted: quantum computing with size, weight, and power consumption (SWaP) small enough for military missions

Still to be answered are questions like what applications could benefit most from quantum computing, and at what kind of scaling; how can systems integrators understand the new core computational capability of quantum computing; and what kind of metrics and testing procedures do scientists need for quantifying progress towards quantum computing capabilities.

That's where the DARPA Quantum Benchmarking project comes in. The project seeks to distil benchmarks for quantum utility to be useful for specific applications at specific scales -- especially using the kinds of metrics that suitable for driving research and development.

The Quantum Benchmarking contractors will create new benchmarks that quantitatively measure progress towards specific computational challenges. In parallel, the program seeks estimate the computer hardware necessary to measure benchmark performance. The project's benchmarks will be hardware-agnostic for problems where quantum approaches most likely will be needed.

The Quantum Benchmarking contractors will quantify the long-term utility of quantum computers by solving some hard problems from a list of application in a variety of military domains, and grouping these application by common enabling capabilities.

Related: The future of artificial intelligence and quantum computing

Raytheon BBN and USC also will develop test procedures for quantifying progress in research; create scalable multi-dimensional benchmarks; and develop tools for estimating necessary quantum hardware resources for hard-to-achieve military capabilities.

The two organizations will analyze applications that require large-scale, universal, fault-tolerant quantum computers; estimates of the classical and quantum resources necessary to execute quantum algorithms on large-scale; applications of fault tolerance and error correction; and nontraditional quantum computing paradigms.

Raytheon BBN and USC researchers will focus on two technical areas: hardware-agnostic approaches, and hardware-specific approaches.

For more information contact Raytheon BBN online at http://www.raytheonintelligenceandspace.com/what-we-do/bbn, USC at https://research.usc.edu, or DARPA at http://www.darpa.mil/program/quantum-benchmarking.

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DARPA asks Raytheon BBN and USC researchers to test limits of quantum computing for military applications - Military & Aerospace Electronics

VALENCIA, Spain & BURNABY, BC, Canada, March 3, 2022 CaixaBank, the leading financial group in Spain, and D-Wave Systems Inc., a global leader in quantum computing systems, software, and services, and the only provider building both annealing and gate-model quantum computers, today announced the business results for two significant financial quantum hybrid computing applications for investment portfolio optimization and investment hedging calculation. The quantum hybrid applications have significantly decreased compute time to solve complex financial problems, improving investment portfolio optimization, increasing a bond portfolio internal rate of return (IRR), and minimizing the capital needed for hedging operations, as a result of their collaboration.

Quantum in Investment Portfolio Hedging and Bond Portfolio Optimization

CaixaBanks Life insurance and Pensions company, VidaCaixa, leveraged D-Waves Leapquantum cloud service and quantum hybrid solvers which combine the strengths of classical and quantum computing to build a quantum computing application within their investment portfolio selection and allocation, and within their portfolio hedging efforts. With this project, CaixaBank Group becomes the first known financial services company in the world to apply quantum computing in investment hedging in the insurance sector. The group is evaluating putting the application into regular production not only in VidaCaixa but in other areas in the organization, over the coming months.

The CaixaBank Group team utilized D-Waves quantum hybrid solver services to code a faster algorithm, which markedly reduces the computing time necessary to reach an optimal solution to improve the investment portfolio hedging. What normally took the bank several hours of compute time was reduced to just minutes via quantum computing technology an up to 90% decrease in compute time over the traditional solution. This reduction of compute time facilitates increased modeling complexity, allowing for a more dynamic model that is better adapted to real-time markets; optimizes the invested capital while maintaining constant risk levels; and improves the hedging decision-making process.

When it comes to investment portfolio selection and allocation, the algorithm rapidly generates portfolios that can be optimized against a higher variety of constraints in a reduced timeframe. The result was a successful application which optimizes IRR by 10% in a chosen portfolio of bonds.

We have always been an innovation-first organization, and very early on we recognized that investing in quantum computing could help us more efficiently provide state-of-the art products and services in order to offer the best client experience. This has been the case with this proof of concept, which confirms the bank as the first one in Spain, and one of the first in the world, to incorporate quantum computing into its daily activity, says Gonzalo Gortazar, CEO of CaixaBank. During his participation in a commissioning ceremony in Jlich, Germany, in which D-Wave announced the first Leap quantum cloud-based system outside North America at Forschungszentrum Jlich Supercomputing Centre, Gortazar confirmed CaixaBanks commitment to continue to explore the potential of quantum computing in the financial services industry: We are very appreciative of seeing this industry growing and maturing, and we look forward to upping our investment and our efforts in quantum, which is surely going to be transformational for our industry. We are very keen to work with D-Wave in this process.

Our focus has always been on the development and delivery of quantum computing for practical applications and business value, said Alan Baratz, CEO of D-Wave. The finance industry is undergoing massive transformation at this moment in time, which is why the industry is poised for great business benefit from quantum computing investment. CaixaBank has a clear vision for implementing market-ready quantum applications to drive efficiency, client value, and scale. We look forward to continued collaboration with them as they expand their offerings and identify additional quantum computing use-cases.

CaixaBanks Quantum Journey

In 2019, CaixaBank set up a team of experts with IT technicians, mathematicians, and risk analysts dedicated to innovation in the quantum field in a multidisciplinary way, in order to explore the potential for quantum technology to enhance the banks different capacities in diverse fields, such as risk assessment and tail risk simulators, fraud detection with artificial intelligence and machine learning, quantum safe cryptography, portfolio selection and allocation, and data mining optimization.

One of the first projects was the implementation of a quantum algorithm capable of assessing the financial risk of two portfolios created specifically for the project based on real data, one consisting of mortgages and the other, treasury bills.

In 2020, CaixaBank developed the first machine learning algorithm to classify risks in Spanish banking leveraging quantum computing. In that case, CaixaBank combined quantum computing and conventional computing in different phases of the calculation process to classify credit risk profiles. To do this, CaixaBank used a public data set corresponding to 1,000 artificial users, with a similar profile to existing customers, but with information configured specifically for the test.

In this project, CaixaBank used the Leap quantum cloud service to access D-Waves quantum hybrid solver service that incorporates the Advantage quantum computer. The cloud-access and real-time service empowers businesses like the bank and countless others across industries to solve large and complex business-scale problems. To date, D-Wave customers have built hundreds of early applications using their systems, including protein folding, financial modeling, scheduling, logistics, manufacturing optimization, machine learning, route optimization, and more. With these results, CaixaBank is working towards putting hybrid quantum applications into production.

About CaixaBank

CaixaBank is the leading financial group in Spain. After its merger with Bankia, the bank has assets of 685.74 billion, making it Spains largest bank, and one of the leading banks in Europe. CaixaBank also has a strong presence in Portugal, where it controls 100% of BPI.

The Group, chaired by Jos Ignacio Goirigolzarri and led by Gonzalo Gortzar, has around 21 million customers and the largest commercial network in Spain and Portugal, and it is a leader in digital banking with 73.1% of clients being digital.

About D-Wave Systems Inc.

D-Wave is a leader in the development and delivery of quantum computing systems, software and services and is the worlds first commercial supplier of quantum computers and the only company developing both annealing quantum computers and gate-model quantum computers. Our mission is to unlock the power of quantum computing for business and society, today. We do this by delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. D-Waves systems are being used by some of the worlds most advanced organizations, including NEC Corporation, Volkswagen, DENSO, Lockheed Martin, University of Southern California, Forschungszentrum Jlich and Los Alamos National Laboratory. With headquarters near Vancouver, Canada, D-Waves US operations are based in Palo Alto, CA. With headquarters and the Quantum Engineering Center of Excellence based near Vancouver, Canada, D-Waves U.S. operations are based in Palo Alto, Calif. D-Wave has a blue-chip investor base that includes PSP Investments, Goldman Sachs, BDC Capital, NEC Corp., Aegis Group Partners, and In-Q-Tel.

D-Wave announced in February it has entered into a definitive merger agreement with DPCM Capital, Inc. (DPCM Capital) (NYSE:XPOA), a publicly traded special purpose acquisition company. Upon closing of the transaction, shares of D-Wave Quantum Inc., a newly formed parent company of D-Wave and DPCM Capital, are expected to trade on the NYSE under the symbol QBTS. Learn more atwww.dwavesys.com/investors.

Source: D-Wave

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D-Wave and CaixaBank Collaborate on Quantum Applications for Finance Industry - HPCwire