North America Is Dominating the Quantum Computing Market In 2021, the quantum computing market size stood at around USD 458 million, which is projected to witness 31.2% CAGR during 2021–2030, reaching about USD 5,274 million by 2030, as per P&S Intelligence. The deployment of these solutions has witnessed a robust upswing to numerous extents, including financial services, logistics, support, and cybersecurity, as market players are heavily spending in this field. In 2021, the hardware category held the largest revenue share of 62.5%. Key players are heavily investing in the development of robust hardware equipment, to help this powerful software. The optimization category accounted for the highest share, of 63.8%, in the market in 2021, based on application. This is because a maximum number of organizational issues revolve over streamlining business processes, for which optimization services are most vital. Thus, market players are concentrating more on creating a solution that can be functional for optimization purposes. Portfolio risk optimization, inflation detection, risk modeling, trade trajectory optimization, trading techniques, instability detection, and asset cost optimization are just a few of the complex issues that quantum computers can solve with unmatched speed. In 2021, the demand for quantum computing solutions in the BFSI industry held the highest revenue of approximately USD 145.4 million. This is because banks are concentrating more on spending on this potential technology to modernize their business methods, to enhance their security. Whereas, the healthcare sector is projected to grow at the highest pace in the coming years. This will mainly be because of the snowballing demand for enhanced diagnosis and treatment measures for chronic illnesses. Furthermore, such computing technologies play a vital role in drug development and discovery. In 2021, North America generated the highest revenue, of USD 208.2 million, because of the heavy expenditure made by government and private companies for the adoption of this technology. For example, in January 2019, the U.S. Congress accepted the National Quantum Initiative, approving above USD 1.2 billion expenditure in quantum science and technology in the coming 5–10 years. These initiatives will result in the snowballing acceptance of this technology in academic, industrial, and government facilities. Thus, governments are the main reason behind the growing use of quantum computing, by spending on research and development. Additionally, the high investment in IT, early adoption of emerging technologies, and constant technological improvements help in the enlargement of the market in this continent. Hence, due to the robust upswing in numerous areas, including financial services, logistics and support, and cybersecurity, and market players are heavily spending in this field, the quantum computing market will surge in the future. Read More: https://www.psmarketresearch.com/market-analysis/quantum-computing-market