The QUBIT semiconductor market is expected to grow at a compound annual growth rate of 68.74% over the forecast period to reach a market size of US$942.544 million in 2026 from US$40.831 million in 2020. QUBIT semiconductor refers to the advanced transmitters for electrons within the device. These semi-conductors form the basis of ultra-fast electronics and devices which require speed processing. It calibrates with nanotechnology and circuit-fabric which aims to develop thin sheets for chip and other nano computing materials. The QUBIT semi-conductor technology demand increases with an increase in applications of Quantum Computers. The demand is prevalent in aerospace and scientific research purposes for understanding the movement of particulate matter in detail. The materials interact with the software and create a virtual medium for the device. The device is then able to take commands even without the multiple circuits and wiring in place. Thus, The utility of quantum computers is significantly based on the type of material used for the QUBIT transmitting semi-conductor which are generally silicon and germanium. Companies such as IBM, Strange Works Quantum Computing, IBM, Xanadu Quantum Computing, Atom Computing, and Bleximo and Institutions such as NASA, MIT are investing their resources in such technologies to hold the major share in the advanced quantum materials market.
Since the market is limited with demand from advanced exploratory centers and research and department of highly advanced companies such as IBM. There was not much change seen in the COVID-19 scenario. Though, the projects working under the technology were suspended given that the revenues were declining as compared to the normal scenarios. However, as the market expects revival and has shown interest in advanced artificial intelligence and quantum technology, the demand for the semiconductor is expected to rise. Currently, a subset of the QUBIT semiconductor segment is enhancing the displays of the electronic devices for advanced smartphones, industrial machine controlling panels, and devices at the aerospace stations. The technology will act as an auxiliary for Machine Learning, Artificial Intelligence, and Robotics Machine Technology.
Innovative projects in the Quantum Computing Space
In the market trends of 2020-2026, the demand for QUBIT semiconductors is limited to Quantum Computing and high-quality displays of advanced high-speed computing devices used in the scientific research and development industry. Despite the technology is not yet customized for retail markets, the companies are in the development of tools that can aid the upcoming quantum computing revolution and thus create a demand for QUBIT semi-conductors, For instance, in November 2020, IBM has revealed a plan of developing 1000 QUBIT computer with advanced semiconducting devices involved. The company in association with Google has run multiple simulation checks for ascertaining the utility of such devices in today’s complex world. The machine aims to aid Artificial intelligence, business intelligence, with increased automation productivity and efficiency. In May 2020, Startups such as Rigetti Computing and PsiQuantum are strategizing and developing products to stand against big giants such as Google and IBM in the space of Quantum Computers, Rigetti has received funding support of $190 million from Andreessen Horowitz to build a quantum computer and related offerings. PsiQuantum also received funding support of $215 million. Airbus is planning to adopt prevailing quantum machines for quick resolution of complex problems within the aerospace industry, such as data handling, reducing direct streaming latency for getting satellite images, and for manufacturing aircraft. Taking proactive steps towards development, The company also hosted the contest for the quantum computing-driven challenge to optimize the design for aircraft, reducing fuel usage, and others. Comparatively, Quantum computing is the young and dynamic market still in the exploratory phases under-going trial and error, the increasing rate of companies adopting quantum computing techniques for some of the identified uses such as quality inspection of manufactured materials, aerospace manufacturing, etc are expected to drive up the demand for QUBIT semiconductor materials and equipment.
Overall, the United States and European nations such as Germany, Italy and Japan, South Korea from the Asia Pacific have a major share in the terms of contributing to technology. Since the technology has not been made available to all the nations and is thus limited in application. Asian Development Bank urges the governments to undertake projects based on Quantum computer devices and materials to explore the benefits of it in routine use. The bank has considered Asia as a perfect pivot ground for such developments as the population is young with a dynamic mindset to experiment. Nations such as Viet Nam, the Philippines, the People’s Republic of China, and India have emerged as start-up nations that offer grounds for trial and error.
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for QUBIT semiconductor market?
A1. The global QUBIT semiconductor market is expected to grow at a CAGR of 68.74% over the forecast period.
Q2. What is the size of global QUBIT semiconductor market?
A2. QUBIT Semiconductor market was valued at US$40.831 million in 2020.
Q3. How is the QUBIT semiconductor market segmented?
A3. The global QUBIT semiconductor market has been segmented by materials, application, and geography.
Q4. What will be the QUBIT semiconductor market size by 2026?
A4. The QUBIT semiconductor market is expected to reach a total market size of US$942.544 million by 2026.
Q5. What factors are anticipated to drive the QUBIT semiconductor market growth?
A5. The QUBIT semi-conductor technology demand increases with an increase in applications of Quantum Computers.