Europe Quantum Computing MarketEurope Quantum Computing Market 2024-2032 Analysis: Trends, Competitor Dynamics, and Growth Opportunities
Europe Quantum Computing Market by Component (Hardware, Software, Service), by Deployment (On-Premise, Cloud), by Application (Machine Learning, Optimization, Biomedical Simulations, Financial Services, Electronic Material Discovery, Others), by End User (Healthcare, Banking, Financial Services, Insurance (BFSI), by Forecast 2024-2032
Base Year: 2023
120 Pages
Europe Quantum Computing Market 2024-2032 Analysis: Trends, Competitor Dynamics, and Growth Opportunities
Key Insights
The Europe Quantum Computing Market size was valued at USD 717.3 USD million in 2023 and is projected to reach USD 4825.63 USD million by 2032, exhibiting a CAGR of 31.3 % during the forecast period. This growth is attributed to the rising demand for high-performance computing capabilities and the increasing adoption of quantum computing in various sectors, including healthcare, finance, and manufacturing. Quantum computing provides a multidisciplinary approach combining computer science, physics, and mathematics utilizing the principles of quantum mechanics to perform previously intractable computations in a shorter time. Among the quantum computing disciplines, we highlight hardware research-oriented activities and advancements. Unlike the which have to gradually search for an answer through brute force calculations, quantum computers can solve certain types of problems faster because they are able to exploit the quantum mechanical effects of superposition and quantum interference. The EU's Digital Decade strategy intends to finish the first quantum-accelerated supercomputer of Europe in 2025 providing the necessary springboard for being in the quantum facilities avant-garde in 2030. The European Chips Act extends the help to the cheap and volume manufacturing of quantum chips in the EU, thus they could be used capture the potential of all the devices that require quantum computing power.
Europe Quantum Computing Trends
- Growing investments in quantum computing research and development
- Collaboration between academia and industry to accelerate innovation
- Development of novel quantum algorithms and applications
- Expansion of quantum computing ecosystems
Driving Forces: What's Propelling the Europe Quantum Computing Market
- Technological Advancements: Advancements in quantum hardware and software are making quantum computing more accessible and practical.
- Government Support: Governments in Europe are providing funding and incentives to support quantum computing research and development initiatives.
- Growing Demand for High-Performance Computing: Industries such as healthcare, finance, and manufacturing require high-performance computing capabilities, which quantum computing can provide.
Challenges and Restraints in Europe Quantum Computing Market
- High Cost of Development and Implementation: Quantum computing systems are expensive to build and maintain, which can limit their adoption.
- Immaturity of Quantum Technology: Quantum computing technology is still in its early stages of development, with limited commercial applications.
- Lack of Skilled Workforce: There is a shortage of skilled professionals with expertise in quantum computing.
- Emerging Competition: Increasing competition from global players entering the European market poses challenges for domestic companies.
Emerging Trends in Europe Quantum Computing
- Specialized Quantum Computing Solutions: Development of quantum computing solutions tailored to specific industry requirements.
- Cloud-Based Quantum Computing: Availability of quantum computing services through cloud platforms, enabling broader access and flexibility.
- Integration with Artificial Intelligence: Combining quantum computing with artificial intelligence to enhance performance and unlock new applications.
Growth Catalysts in Europe Quantum Computing Industry
- Government Partnerships: Collaborations between governments and industry players to foster innovation and commercialization of quantum computing technologies.
- Industry Consortiums: Formation of industry-led consortiums to drive quantum computing adoption and establish standards.
- Investment in Quantum Startups: Funding initiatives to support startups specializing in quantum computing technologies and solutions.
Market Segmentation: Europe Quantum Computing Analysis
Component:
- Hardware
- Software
- Service
Deployment:
- On-Premise
- Cloud
Application:
- Machine Learning
- Optimization
- Biomedical Simulations
- Financial Services
- Electronic Material Discovery
- Others
End User:
- Healthcare
- Banking, Financial Services and Insurance (BFSI)
- Industry
Leading Players in the Europe Quantum Computing Market
- IQM Quantum Computers (Finland)
- HQS Quantum Simulation (Germany)
- ParityQC (Austria)
- KEEQquant (Germany)
- ID Quantique SA (Switzerland)
- Alpine Quantum Technologies (Austria)
- Quantum Motion Technologies (U.K.)
- Nu Quantum (U.K.)
- Atos Quantum (France)
- Riverlane (U.K.)
Significant developments in Europe Quantum Computing Sector
- 2021: Atos launched its Quantum Learning Machine, a cloud-based platform for quantum computing education and experimentation.
- 2022: IQM Quantum Computers raised €80 million in Series B funding to accelerate its expansion and development of quantum hardware.
Comprehensive Coverage Europe Quantum Computing Market Report
- Market overview and key growth insights
- Market dynamics and drivers of growth
- Market segmentation and competitive analysis
- Leading companies in the market and their strategies
- Industry trends and emerging technologies, including quantum algorithms and quantum software
- Challenges and opportunities in the market
- Regulatory landscape and IP analysis
- Expert commentary and analyst perspectives
- Analysis of ongoing investments and government initiatives
Regional Insight
- United Kingdom
- Germany
- France
- Switzerland
- Austria
Recent Mergers & Acquisition
- No recent mergers and acquisitions provided.
Regulation
- Quantum computing is still an emerging technology, and regulations are evolving.
- Governments in Europe are developing frameworks to address issues such as data privacy and intellectual property protection.
Patent Analysis
- The report provides an analysis of patent filings related to quantum computing in Europe, highlighting key trends and innovators in the field.
Analyst Comment
"The Europe Quantum Computing market is poised for significant growth over the coming years, driven by advances in quantum technology and increasing demand for high-performance computing. Governments and industry players are collaborating to accelerate innovation and commercialization, creating opportunities for startups and established companies alike."
Europe Quantum Computing Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2018-2032 |
| Base Year | 2023 |
| Estimated Year | 2024 |
| Forecast Period | 2024-2032 |
| Historical Period | 2018-2023 |
| Growth Rate | CAGR of 31.3% from 2018-2032 |
| Segmentation |
|
Frequently Asked Questions
Table Of Content
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Growing Need for Optimizing Infrastructure Budgets to Achieve Business Growth will Ensure Market Expansion
- 3.3. Market Restrains
- 3.3.1. Insufficient Digital Infrastructure to Hinder Market Expansion
- 3.4. Market Trends
- 3.4.1. Growing Implementation of Touch-based and Voice-based Infotainment Systems to Increase Adoption of Intelligent Cars
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. Europe Quantum Computing Market Analysis, Insights and Forecast, 2018-2030
- 5.1. Market Analysis, Insights and Forecast - by Component
- 5.1.1. Hardware
- 5.1.2. Software
- 5.1.3. Service
- 5.2. Market Analysis, Insights and Forecast - by Deployment
- 5.2.1. On-Premise
- 5.2.2. Cloud
- 5.3. Market Analysis, Insights and Forecast - by Application
- 5.3.1. Machine Learning
- 5.3.2. Optimization
- 5.3.3. Biomedical Simulations
- 5.3.4. Financial Services
- 5.3.5. Electronic Material Discovery
- 5.3.6. Others
- 5.4. Market Analysis, Insights and Forecast - by End User
- 5.4.1. Healthcare
- 5.4.2. Banking
- 5.4.3. Financial Services
- 5.4.4. Insurance (BFSI
- 5.5. Market Analysis, Insights and Forecast - by Region
- 5.5.1.
- 5.1. Market Analysis, Insights and Forecast - by Component
- 6. U.K. Europe Quantum Computing Market Analysis, Insights and Forecast, 2018-2030
- 6.1. Market Analysis, Insights and Forecast - By Component
- 6.1.1 Hardware
- 6.1.2 Software
- 6.1.3 Service
- 6.2. Market Analysis, Insights and Forecast - By Deployment
- 6.2.1 On-Premise
- 6.2.2 Cloud
- 6.3. Market Analysis, Insights and Forecast - By Application
- 6.3.1 Machine Learning
- 6.3.2 Optimization
- 6.3.3 Biomedical Simulations
- 6.3.4 Financial Services
- 6.3.5 Electronic Material Discovery
- 6.3.6 Others
- 6.4. Market Analysis, Insights and Forecast - By End User
- 6.4.1 Healthcare
- 6.4.2 Banking
- 6.4.3 Financial Services and Insurance (BFSI)
- 7. Germany Europe Quantum Computing Market Analysis, Insights and Forecast, 2018-2030
- 7.1. Market Analysis, Insights and Forecast - By Component
- 7.1.1 Hardware
- 7.1.2 Software
- 7.1.3 Service
- 7.2. Market Analysis, Insights and Forecast - By Deployment
- 7.2.1 On-Premise
- 7.2.2 Cloud
- 7.3. Market Analysis, Insights and Forecast - By Application
- 7.3.1 Machine Learning
- 7.3.2 Optimization
- 7.3.3 Biomedical Simulations
- 7.3.4 Financial Services
- 7.3.5 Electronic Material Discovery
- 7.3.6 Others
- 7.4. Market Analysis, Insights and Forecast - By End User
- 7.4.1 Healthcare
- 7.4.2 Banking
- 7.4.3 Financial Services and Insurance (BFSI)
- 8. France Europe Quantum Computing Market Analysis, Insights and Forecast, 2018-2030
- 8.1. Market Analysis, Insights and Forecast - By Component
- 8.1.1 Hardware
- 8.1.2 Software
- 8.1.3 Service
- 8.2. Market Analysis, Insights and Forecast - By Deployment
- 8.2.1 On-Premise
- 8.2.2 Cloud
- 8.3. Market Analysis, Insights and Forecast - By Application
- 8.3.1 Machine Learning
- 8.3.2 Optimization
- 8.3.3 Biomedical Simulations
- 8.3.4 Financial Services
- 8.3.5 Electronic Material Discovery
- 8.3.6 Others
- 8.4. Market Analysis, Insights and Forecast - By End User
- 8.4.1 Healthcare
- 8.4.2 Banking
- 8.4.3 Financial Services and Insurance (BFSI)
- 9. Italy Europe Quantum Computing Market Analysis, Insights and Forecast, 2018-2030
- 9.1. Market Analysis, Insights and Forecast - By Component
- 9.1.1 Hardware
- 9.1.2 Software
- 9.1.3 Service
- 9.2. Market Analysis, Insights and Forecast - By Deployment
- 9.2.1 On-Premise
- 9.2.2 Cloud
- 9.3. Market Analysis, Insights and Forecast - By Application
- 9.3.1 Machine Learning
- 9.3.2 Optimization
- 9.3.3 Biomedical Simulations
- 9.3.4 Financial Services
- 9.3.5 Electronic Material Discovery
- 9.3.6 Others
- 9.4. Market Analysis, Insights and Forecast - By End User
- 9.4.1 Healthcare
- 9.4.2 Banking
- 9.4.3 Financial Services and Insurance (BFSI)
- 10. Spain Europe Quantum Computing Market Analysis, Insights and Forecast, 2018-2030
- 10.1. Market Analysis, Insights and Forecast - By Component
- 10.1.1 Hardware
- 10.1.2 Software
- 10.1.3 Service
- 10.2. Market Analysis, Insights and Forecast - By Deployment
- 10.2.1 On-Premise
- 10.2.2 Cloud
- 10.3. Market Analysis, Insights and Forecast - By Application
- 10.3.1 Machine Learning
- 10.3.2 Optimization
- 10.3.3 Biomedical Simulations
- 10.3.4 Financial Services
- 10.3.5 Electronic Material Discovery
- 10.3.6 Others
- 10.4. Market Analysis, Insights and Forecast - By End User
- 10.4.1 Healthcare
- 10.4.2 Banking
- 10.4.3 Financial Services and Insurance (BFSI)
- 11. Russia Europe Quantum Computing Market Analysis, Insights and Forecast, 2018-2030
- 11.1. Market Analysis, Insights and Forecast - By Component
- 11.1.1 Hardware
- 11.1.2 Software
- 11.1.3 Service
- 11.2. Market Analysis, Insights and Forecast - By Deployment
- 11.2.1 On-Premise
- 11.2.2 Cloud
- 11.3. Market Analysis, Insights and Forecast - By Application
- 11.3.1 Machine Learning
- 11.3.2 Optimization
- 11.3.3 Biomedical Simulations
- 11.3.4 Financial Services
- 11.3.5 Electronic Material Discovery
- 11.3.6 Others
- 11.4. Market Analysis, Insights and Forecast - By End User
- 11.4.1 Healthcare
- 11.4.2 Banking
- 11.4.3 Financial Services and Insurance (BFSI)
- 12. Benelux Europe Quantum Computing Market Analysis, Insights and Forecast, 2018-2030
- 12.1. Market Analysis, Insights and Forecast - By Component
- 12.1.1 Hardware
- 12.1.2 Software
- 12.1.3 Service
- 12.2. Market Analysis, Insights and Forecast - By Deployment
- 12.2.1 On-Premise
- 12.2.2 Cloud
- 12.3. Market Analysis, Insights and Forecast - By Application
- 12.3.1 Machine Learning
- 12.3.2 Optimization
- 12.3.3 Biomedical Simulations
- 12.3.4 Financial Services
- 12.3.5 Electronic Material Discovery
- 12.3.6 Others
- 12.4. Market Analysis, Insights and Forecast - By End User
- 12.4.1 Healthcare
- 12.4.2 Banking
- 12.4.3 Financial Services and Insurance (BFSI)
- 13. Nordics Europe Quantum Computing Market Analysis, Insights and Forecast, 2018-2030
- 13.1. Market Analysis, Insights and Forecast - By Component
- 13.1.1 Hardware
- 13.1.2 Software
- 13.1.3 Service
- 13.2. Market Analysis, Insights and Forecast - By Deployment
- 13.2.1 On-Premise
- 13.2.2 Cloud
- 13.3. Market Analysis, Insights and Forecast - By Application
- 13.3.1 Machine Learning
- 13.3.2 Optimization
- 13.3.3 Biomedical Simulations
- 13.3.4 Financial Services
- 13.3.5 Electronic Material Discovery
- 13.3.6 Others
- 13.4. Market Analysis, Insights and Forecast - By End User
- 13.4.1 Healthcare
- 13.4.2 Banking
- 13.4.3 Financial Services and Insurance (BFSI)
- 14. Rest of Europe Europe Quantum Computing Market Analysis, Insights and Forecast, 2018-2030
- 14.1. Market Analysis, Insights and Forecast - By Component
- 14.1.1 Hardware
- 14.1.2 Software
- 14.1.3 Service
- 14.2. Market Analysis, Insights and Forecast - By Deployment
- 14.2.1 On-Premise
- 14.2.2 Cloud
- 14.3. Market Analysis, Insights and Forecast - By Application
- 14.3.1 Machine Learning
- 14.3.2 Optimization
- 14.3.3 Biomedical Simulations
- 14.3.4 Financial Services
- 14.3.5 Electronic Material Discovery
- 14.3.6 Others
- 14.4. Market Analysis, Insights and Forecast - By End User
- 14.4.1 Healthcare
- 14.4.2 Banking
- 14.4.3 Financial Services and Insurance (BFSI)
- 15. Competitive Analysis
- 15.1. Market Share Analysis 2023
- 15.2. Company Profiles
- 15.2.1 IQM Quantum Computers (Finland)
- 15.2.1.1. Overview
- 15.2.1.2. Products
- 15.2.1.3. SWOT Analysis
- 15.2.1.4. Recent Developments
- 15.2.1.5. Financials (Based on Availability)
- 15.2.2 HQS Quantum Simulation (Germany)
- 15.2.2.1. Overview
- 15.2.2.2. Products
- 15.2.2.3. SWOT Analysis
- 15.2.2.4. Recent Developments
- 15.2.2.5. Financials (Based on Availability)
- 15.2.3 ParityQC (Austria)
- 15.2.3.1. Overview
- 15.2.3.2. Products
- 15.2.3.3. SWOT Analysis
- 15.2.3.4. Recent Developments
- 15.2.3.5. Financials (Based on Availability)
- 15.2.4 KEEQquant (Germany)
- 15.2.4.1. Overview
- 15.2.4.2. Products
- 15.2.4.3. SWOT Analysis
- 15.2.4.4. Recent Developments
- 15.2.4.5. Financials (Based on Availability)
- 15.2.5 ID Quantique SA (Switzerland)
- 15.2.5.1. Overview
- 15.2.5.2. Products
- 15.2.5.3. SWOT Analysis
- 15.2.5.4. Recent Developments
- 15.2.5.5. Financials (Based on Availability)
- 15.2.6 Alpine Quantum Technologies (Austria)
- 15.2.6.1. Overview
- 15.2.6.2. Products
- 15.2.6.3. SWOT Analysis
- 15.2.6.4. Recent Developments
- 15.2.6.5. Financials (Based on Availability)
- 15.2.7 Quantum Motion Technologies (U.K.)
- 15.2.7.1. Overview
- 15.2.7.2. Products
- 15.2.7.3. SWOT Analysis
- 15.2.7.4. Recent Developments
- 15.2.7.5. Financials (Based on Availability)
- 15.2.8 Nu Quantum (U.K.)
- 15.2.8.1. Overview
- 15.2.8.2. Products
- 15.2.8.3. SWOT Analysis
- 15.2.8.4. Recent Developments
- 15.2.8.5. Financials (Based on Availability)
- 15.2.9 Atos Quantum (France)
- 15.2.9.1. Overview
- 15.2.9.2. Products
- 15.2.9.3. SWOT Analysis
- 15.2.9.4. Recent Developments
- 15.2.9.5. Financials (Based on Availability)
- 15.2.10 Riverlane (U.K.)
- 15.2.10.1. Overview
- 15.2.10.2. Products
- 15.2.10.3. SWOT Analysis
- 15.2.10.4. Recent Developments
- 15.2.10.5. Financials (Based on Availability)
- 15.2.1 IQM Quantum Computers (Finland)
List of Figures
- Figure 1: Europe Quantum Computing Market Revenue Breakdown (USD million, %) by Product 2023 & 2031
- Figure 2: Europe Quantum Computing Market Value Share (%), by Component 2023 & 2031
- Figure 3: Europe Quantum Computing Market Value Share (%), by Deployment 2023 & 2031
- Figure 4: Europe Quantum Computing Market Value Share (%), by Application 2023 & 2031
- Figure 5: Europe Quantum Computing Market Value Share (%), by End User 2023 & 2031
- Figure 6: Europe Quantum Computing Market Share (%) by Company 2023
List of Tables
- Table 1: Europe Quantum Computing Market Revenue USD million Forecast, by Component 2018 & 2031
- Table 2: Europe Quantum Computing Market Revenue USD million Forecast, by Deployment 2018 & 2031
- Table 3: Europe Quantum Computing Market Revenue USD million Forecast, by Application 2018 & 2031
- Table 4: Europe Quantum Computing Market Revenue USD million Forecast, by End User 2018 & 2031
- Table 5: Europe Quantum Computing Market Revenue USD million Forecast, by Region 2018 & 2031
- Table 6: Europe Quantum Computing Market Revenue USD million Forecast, by Component 2018 & 2031
- Table 7: Europe Quantum Computing Market Revenue USD million Forecast, by Deployment 2018 & 2031
- Table 8: Europe Quantum Computing Market Revenue USD million Forecast, by Application 2018 & 2031
- Table 9: Europe Quantum Computing Market Revenue USD million Forecast, by End User 2018 & 2031
- Table 10: Europe Quantum Computing Market Revenue USD million Forecast, by Region 2018 & 2031
- Table 11: Europe Quantum Computing Market Revenue USD million Forecast, by Component 2018 & 2031
- Table 12: Europe Quantum Computing Market Revenue USD million Forecast, by Deployment 2018 & 2031
- Table 13: Europe Quantum Computing Market Revenue USD million Forecast, by Application 2018 & 2031
- Table 14: Europe Quantum Computing Market Revenue USD million Forecast, by End User 2018 & 2031
- Table 15: Europe Quantum Computing Market Revenue USD million Forecast, by Country 2018 & 2031
- Table 16: U.K. Europe Quantum Computing Market Revenue (USD million) Forecast, by Application 2018 & 2031
- Table 17: Germany Europe Quantum Computing Market Revenue (USD million) Forecast, by Application 2018 & 2031
- Table 18: France Europe Quantum Computing Market Revenue (USD million) Forecast, by Application 2018 & 2031
- Table 19: Italy Europe Quantum Computing Market Revenue (USD million) Forecast, by Application 2018 & 2031
- Table 20: Spain Europe Quantum Computing Market Revenue (USD million) Forecast, by Application 2018 & 2031
- Table 21: Russia Europe Quantum Computing Market Revenue (USD million) Forecast, by Application 2018 & 2031
- Table 22: Benelux Europe Quantum Computing Market Revenue (USD million) Forecast, by Application 2018 & 2031
- Table 23: Nordics Europe Quantum Computing Market Revenue (USD million) Forecast, by Application 2018 & 2031
- Table 24: Rest of Europe Europe Quantum Computing Market Revenue (USD million) Forecast, by Application 2018 & 2031
- Table 25: Europe Quantum Computing Market Revenue USD million Forecast, by Component 2018 & 2031
- Table 26: Europe Quantum Computing Market Revenue USD million Forecast, by Deployment 2018 & 2031
- Table 27: Europe Quantum Computing Market Revenue USD million Forecast, by Application 2018 & 2031
- Table 28: Europe Quantum Computing Market Revenue USD million Forecast, by End User 2018 & 2031
- Table 29: Europe Quantum Computing Market Revenue USD million Forecast, by Country 2018 & 2031
| Aspects | Details |
|---|---|
| Study Period | 2018-2032 |
| Base Year | 2023 |
| Estimated Year | 2024 |
| Forecast Period | 2024-2032 |
| Historical Period | 2018-2023 |
| Growth Rate | CAGR of 31.3% from 2018-2032 |
| Segmentation |
|
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STEP 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.
Note* : In applicable scenarios
STEP 3 - Data Sources
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Secondary Research
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Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.
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