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From 2023 to 2031, the Quantum Processing Units (QPU) Market to witness Stellar Growth of 40.5% CAGR, reaching US$ 13.1 billion: TMR Report

Wilmington, Delaware, United States, June 27, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global quantum processing units (QPU) market is slated to register astronomical growth, registering a CAGR of 41.7 % from 2023 to 2031. By the end of the aforementioned forecast period, the market is poised to reach a valuation of US$ 13.1 billion.

A quantum processing unit (QPU) is a real-world or simulated processor with a collection of linked qubits that can be used to manipulate quantum algorithms. It serves as the brain of a quantum computer or simulator.

QPU offers significant advantages while executing certain tasks such as simulating quantum systems and tackling complex optimization problems. However, large-scale qubits and superior QPUs are necessary to reap these advantages. Therefore, study and development of high-performance QPU is one of the crucial objectives of quantum computing.

Quantum computing, AI, and hybrid cloud technologies are used to detect tumors at an early stage and enhance the development of targeted drugs, thus leading to notable advancements in the field of pharmacology. These systems facilitate the swift identification of alterations and abnormalities by enabling clinicians to conveniently review CT scans over time.

In March 2023, IBM installed an on-site IBM-managed quantum computer at Cleveland Clinic in the United States. It was installed for healthcare research to help Cleveland Clinic accelerate biomedical discoveries. Hence, increase in usage of quantum computing and other advanced computing technologies is expected to spur the Quantum Processing Units (QPU) market growth in the near future.

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Market Snapshot:

Key Takeaways from the Market Study

Prominent Drivers of the Quantum Processing Units (QPU) Market

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Quantum Processing Units (QPU) Market- Regional Profile

Competitive Landscape

Prominent quantum processing unit providers as profiled by Transparency Market Research include:

Key Market Developments

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

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From 2023 to 2031, the Quantum Processing Units (QPU) Market to ... - InvestorsObserver