The Asia Pacific Quantum Computing Market is expected to witness market growth of 20.4% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Quantum Computing Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $403.8 million by 2031. The Japan market is expected to showcase a CAGR of 19.7% during 2024-2031. Additionally, the India market is registering a CAGR of 21.2% during 2024-2031.
Quantum computing holds a broad range of applications across multiple industries. Its ability to perform complex calculations at speeds far surpassing classical computers opens new possibilities for solving previously unsolvable problems. Quantum computers have the potential to break traditional encryption methods. Classical cryptography systems, such as RSA encryption, rely on the difficulty of factoring large numbers. With their exponentially faster processing abilities, Quantum computers can solve such problems efficiently using algorithms like Shor’s algorithm. This poses a significant risk to current cybersecurity frameworks.
However, it also opens the door to new forms of quantum encryption (quantum key distribution, QKD), which would be virtually unbreakable by classical computers. Governments and industries invest heavily in quantum-resistant cryptography to prepare for this future shift
In China, the recent launch of the third-generation superconducting quantum computer, Origin Wukong, marks a major milestone in the country’s quantum computing journey. The system, which is powered by a 72-qubit Wukong chip, has already achieved remarkable success, surpassed 20 million global remote visits, and completed over 339,000 tasks since its debut on January 6, 2024. This accomplishment underscores China’s growing prominence in the quantum computing space and its ability to attract a diverse range of users across 139 countries.
The China market dominated the Asia Pacific Quantum Computing Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $403.8 million by 2031. The Japan market is expected to showcase a CAGR of 19.7% during 2024-2031. Additionally, the India market is registering a CAGR of 21.2% during 2024-2031.
Quantum computing holds a broad range of applications across multiple industries. Its ability to perform complex calculations at speeds far surpassing classical computers opens new possibilities for solving previously unsolvable problems. Quantum computers have the potential to break traditional encryption methods. Classical cryptography systems, such as RSA encryption, rely on the difficulty of factoring large numbers. With their exponentially faster processing abilities, Quantum computers can solve such problems efficiently using algorithms like Shor’s algorithm. This poses a significant risk to current cybersecurity frameworks.
However, it also opens the door to new forms of quantum encryption (quantum key distribution, QKD), which would be virtually unbreakable by classical computers. Governments and industries invest heavily in quantum-resistant cryptography to prepare for this future shift
In China, the recent launch of the third-generation superconducting quantum computer, Origin Wukong, marks a major milestone in the country’s quantum computing journey. The system, which is powered by a 72-qubit Wukong chip, has already achieved remarkable success, surpassed 20 million global remote visits, and completed over 339,000 tasks since its debut on January 6, 2024. This accomplishment underscores China’s growing prominence in the quantum computing space and its ability to attract a diverse range of users across 139 countries.
List of Key Companies Profiled
- Google LLC (Alphabet Inc.)
- Microsoft Corporation
- IBM Corporation
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- QC Ware Corp.
- SpinQ Technology Co., Ltd.
- Rigetti Computing, Inc.
- D-Wave Systems Inc.
- Intel Corporation
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
Market Report Segmentation
By Offering
- System
- Services
By Deployment
- On-premise
- Cloud
By Application
- Optimization
- Machine Learning
- Simulation
- Other Application
By End-user
- BFSI
- Healthcare
- Automotive
- Energy & Power
- Government
- Aerospace & Defense
- Chemical
- Other End-user
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Asia Pacific Quantum Computing Market by Offering
Chapter 6. Asia Pacific Quantum Computing Market by Deployment
Chapter 7. Asia Pacific Quantum Computing Market by Application
Chapter 8. Asia Pacific Quantum Computing Market by End-user
Chapter 9. Asia Pacific Quantum Computing Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- Google LLC (Alphabet Inc.)
- Microsoft Corporation
- IBM Corporation
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- QC Ware Corp.
- SpinQ Technology Co., Ltd.
- Rigetti Computing, Inc.
- D-Wave Systems Inc.
- Intel Corporation
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
Methodology
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