10 Key Players of the Quantum Computing Market

• Published Date: May 23, 2024

What is Quantum Computing?

This is the age of computers and technology and there are developments and innovations with every passing day. If you are a techno buff, then the word quantum computing will not be new for you. It is a field that integrates the aspects of physics, computer sciences and mathematics, that makes the use of quantum mechanics for solving difficult issues, at a much faster rate than on the traditional computers.

Due to propound investments by tech giants, and a robust increase in financial services, cybersecurity and logistics & support, the market is on the rise. The total value of the industry will reach USD 5,274 million by the end of this decade.

This blog will focus on the top players operating in the industry, so let us start.

IBM

Establishment: 1911

Headquarters: U.S.

Website: http://www.ibm.com

IBM integrates tech and expertise, providing infra, software and consulting services. It was founded in 1911 and has over 10,000 employees For 2022, IBM made USD 60.5 billion in revenue and USD 9.3 billion of free cash flow. The revenue grew at a rate of 12% at constant currency in 2022, including around four points from incremental external sales to Kyndryl. The revenue base represents over 50% of IBM’s total revenue. And in the current scenario, over 70% of the annual revenue is in Software and Consulting.

Telstra Corporation Limited

Establishment: 1901

Headquarters: Australia

Website: https://www.telstra.com.au/

Telstra Group Limited is an Australian telecom company, building and operating telecom networks and markets associated services and products. The company offers fixed and wireless internet, mobility solutions, Pay TV accessories, mobiles. It also carries out the construction of infra for fixed, mobile, IP and data networks. The company provides unified communications, cloud services, managed services, cybersecurity, fixed telephony, and integrated services. The company serves small and medium-sized businesses, individual customers, and large companies.

It operates call centers, digital channels, retail stores, and distribution systems. It is a member of the S&P/ASX 20 and Australia's largest telecom company by market share. The total revenue of the organization was USD 15.7 billion in 2023.

IonQ Inc

Establishment: 2015

Headquarters: U.S.

Website: https://ionq.com/

It is a quantum computing software and hardware company. It is into developing a general-purpose trapped ion quantum computer and software for generating, optimizing, and executing quantum circuits.

In 2019, the company raised USD 55 million, and partnered with Microsoft and Amazon Web Services. In 2021, the company started trading as IONQ on the NYSE, making it the first public pure-play quantum computing company in the world.

Silicon Quantum Computing Pty Limited

Establishment: 2017

Headquarters: Australia

Website: http://sqc.com.au

Silicon Quantum Computing Pty Limited is an Australian private company, made with a vision of building a commercial-scale, silicon-based quantum computer It is the only company in the world, which is able to manufacture quantum electronic devices in silicon with atomic precision, on the basis of a tech invented by Michelle Simmons. The company has raised various rounds of fundings from its initiation in 2017.

Huawei Technologies Co. Ltd.

Established: 1987

Headquarters: China

Website: https://www.huawei.com

Huawei is company providing ICT infra and smart devices. The company operates in more than 170 countries and regions, with a customer base of over 3 billion people. The total revenue of the company was CNY 642,338 million in 2022. Apart from that, the net profit of the organization was CNY 35,562, with a year-on-year- growth being 68.7%. The total number of employees in the company are 207,000.

Alphabet Inc

Establishment: 2015

Headquarters: U.S.

Website: https://abc.xyz/

Alphabet Inc, the holding company of Google, is a tech company. It offers Google Maps, calendar, Search, ads, Gmail, Android, Google Play, Google Cloud, Chrome, and YouTube. There are also hardware products for example smartwatches, Pixel phones, and Google Nest home products.

It provides online advertising services, internet services, subscription-based products, and licensing and R&D services. The company also invests in infra, data, ML, analytics, and AI.

Rigetti Computing, Inc.

Establishment: 2013

Headquarters: U.S.

Website: https://www.rigetti.com

Rigetti Computing is a quantum computing company. It manufactures and designs quantum-integrated circuits. It packages and deploys the chips in a low-temperature environment, and they build control systems for performing quantum logic operations.

It develops software to incorporate its systems directly into present cloud infra. It has also advanced new algorithms for quantum computing, with an emphasis on near-term applications in computational chemistry and ML. The total revenue of the company, for the third quarter, ended in September 2023 was USD 3.1 million.

Microsoft Corporation

Establishment: 1975

Headquarters: U.S.

Website: https://www.microsoft.com

Microsoft Corporation provides software products, services. It has various operating systems, server applications, business solution applications, software development tools, desktop and server management tools. It also manufactures, and sells PCs, tablets, gaming consoles. The company provides various services, such as solution support, cloud-based solutions, and consulting services.

The company distributes, markets, and sells its offerings through OEMs, resellers distributors, online marketplaces, Microsoft stores. The total revenue of the company in 2022 was USD 198,270 billion in 2022, which was 18% higher than that of the preceding year.

D-Wave Systems Inc

Establishment: 1999

Headquarters: Canada

Website: https://dwavequantum.com

The company cares for the development and delivery of quantum computing systems, software, and services. It is also into app development tools, quantum systems, and software development kits. D-Wave provides quantum hybrid solver services, services Leap quantum cloud service, training, and professional services. The company offers solutions with the help of quantum applications for materials sciences, logistics, AI, cyber security, financial modeling and fault detection.

Zapata Computing Inc

Establishment: 2017

Headquarters: U.S.

Website: https://zapata.ai/

The company is a quantum software company offering computing solutions for commercial and industrial use. It offers hardware-agnostic solutions for optimization, simulation, and ML applications in finance, chemistry, logistics, engineering, pharma, and materials.

Coming to a Conclusion

These are some of the key players in the quantum computing industry of the world, and because of the increasing demand for quantum computing solutions, there are various players operating in the industry, and many more can enter the market in the near future.