Global Quantum Computing Market Expected to Reach $7.13B By 2031 As Data Protection Needs Increase

July 9, 2024

9 Min Read

PALM BEACH, Fla., July 09, 2024 (GLOBE NEWSWIRE) -- News Commentary - The quantum computer market based on quantum computing technology advancements and is spurring an increasing appetite for the quantum technologies across numerous industries. Quantum computing which is regarded as an unbeatable super-computer with the ability to solve complex issues at an impracticably fast rate has attracted firms’ interest in exploration of ways through which they can harness the quantum capabilities. A report from Skyquest said that the Global Quantum Computing Market, which was valued at USD 641 million in 2022, rose from USD 837 million in 2023 and is expected to reach a value of USD 7135 million by 2031, at a CAGR of 30.7% during the forecast period (2024–2031).  The report said: “The growth of the market is largely attributed to the expanding sphere of quantum computing applications, comprising optimization, machine intelligence, encryption, drug finding, and financial modelling. Besides the increasing interest on data security matters and better computation performance solutions, the cross-sector raging applications are covering space and defense, healthcare, finance, and manufacturing. The quantum computing initiatives and research collaborations are the next level addition that is culminating in the fast innovation in this field. The healthy relationship between startups, academia, and big players in the tech sector is being seen.”   Active companies in the markets this week include: Scope Carbon Corp. (OTCQB: SCPCF) (CSE: SCPE), Palo Alto Networks(NASDAQ: PANW), CrowdStrike (NASDAQ: CRWD), Fortinet® (NASDAQ: FTNT), Zscaler, Inc. (NASDAQ: ZS).

Skyquest continued: “Within the quantum computing market, the fastest-growing segment is the data optimization. With the exponential growth of data in data era, organizations are confronted by very critical hidden threats of long-term data value intelligence. Quantum computing can be viewed as a disruptive technology which has the potential to revolutionize routine optimization problems, helping organizations to speed up the rates of processes and make better decisions, among others. The accelerating demand from industries for data optimization solutions, which may grant a competitive edge in terms of their productivity will result in a great need in customized solutions of quantum computing that will be made specifically for data optimization applications with skyrocketing revenue in this sector of the market. In recent years, North America has dominated the quantum computing market with the largest share of market revenue. Area is supported by the better environment with adoption of the Quantum computing research and management, favorable regulations and strong partnerships with academia and private sector. With the key players in quantum computing like Google, IBM, and Microsoft working to move the cutting-edge research and innovation in quantum computing, North America dominates both in terms of market size and technological advancement in this rapidly rising field. “

Scope Carbon Corp. (CSE: SCPE) (OTCQB: SCPCF) to Acquire Advanced QuantumSecurity Technology to Fortify Data Protection - Scope Carbon Corp. (“Scope” or the “Company”) is pleased to announce that it has entered into technology agreement dated July 9, 2024 (the “Technology Agreement”) with Ovryde Ltd. (“Ovryde”) whereby Ovryde has agreed to transfer its ownership and rights relating to delivery and application of quantum resilient entropy (the “QSE Technology”). Quantum resilient entropy is an advanced security measure designed to protect data against the future threats posed by quantum computing, ensuring that sensitive information remains secure in an increasingly digital world.

Key Benefits of the Acquisition:

  • Enhanced Cyber-Security Product Suite

    • Immediate Expansion: This acquisition broadens Scope AI's cybersecurity offerings by integrating Ovryde's advanced quantum security technologies, providing more comprehensive solutions for clients.

    • Addressing New Threats: With the QSE Technology, Scope AI can tackle emerging quantum-computing threats, ensuring robust protection for sensitive data in transit and at rest.

  • Efficient Synergies and New Revenue Streams:

    • Faster Deployment: The integration of QSE Technology creates synergies that enable faster and more efficient deployment of solutions.

    • New Revenue Opportunities: This opens new revenue streams by catering to industries with stringent data security needs, such as finance, healthcare, and government sectors.

  • Regulatory Compliance and Future-Readiness:

    • Meeting Regulations: Helps clients comply with new and evolving regulatory standards for quantum-resistant encryption and data protection.

    • Future-Proof Solutions: Prepares businesses for future quantum-computing advancements with robust and scalable security solutions.

  • Market Leadership and Innovation:

    • Leading the Market: Positions Scope AI as a leader in quantum-resilient security solutions, setting it apart from competitors.

    • Sustainable Growth: Provides a foundation for sustainable growth by continuously adapting to technological advancements in cybersecurity.

James Young, CEO of Scope AI Corp., stated, "We are pleased to announce the acquisition of the QSE Technology. The product suite is established, complete, and ready to onboard customers now. This acquisition enables us to provide our customers with extremely robust security solutions that are easy to integrate into existing infrastructures. With the QSE Technology, we can address the emerging threats posed by quantum computing and ensure our clients are prepared for the future of digital security."
CONTINUED… Read this full release and more for Scope Carbon at:

In other industry news of interest:

Palo Alto Networks®(NASDAQ: PANW), the global cybersecurity leader, recently announced it has been recognized as a Leader in The Forrester Wave™: Operational Technology Security Solutions, Q2 2024. Palo Alto Networks received the highest scores in both the strategy and current offering categories. According to the report, "It envisions seamless integration of IT and OT in a comprehensive platform tailored to the unique challenges of industrial systems."

Anand Oswal, SVP and GM, Network Security, Palo Alto Networks: "Critical infrastructure and OT environments are the backbone of our digital way of life. We have been helping to protect OT environments in a world where IT and OT are increasingly converging. We are excited that Forrester recognizes us as a leader in OT security solutions. Palo Alto Networks unparalleled end-to-end OT security platform offers deep visibility, threat protection and policy recommendations, protecting the future of industrial technologies."

CrowdStrike (Nasdaq: CRWD) recently announced partnerships with technology distributors Ingram Micro, M3Corp and Tecnología Especializada Asociada de México ("TEAM Mexico") to accelerate adoption of the AI-native CrowdStrike Falcon® platform across Latin America. These strategic distributors will provide their partners with access to the Falcon platform to help businesses across Mexico, Brazil and the broader Latin America market drive vendor consolidation and stop breaches with the world’s most advanced AI-native cybersecurity.

The Latin America market has seen a rise of activity by eCrime threat actors employing sophisticated methods to evade detection by traditional cyber defenses. To protect against modern threats, organizations need unified cybersecurity to replace disjointed point products that increase operating costs and complexity while creating gaps in protection. CrowdStrike’s partnership with distributors with proven expertise and diverse partner networks of leading solution providers in Latin America will accelerate regional adoption of the Falcon platform’s best-in-class capabilities across all key attack surfaces and drive cybersecurity transformation.

Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, recently announced that it will hold a conference call to discuss its second quarter 2024 financial results on Tuesday, August 6, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time).

Fortinet's financial results conference call will be broadcast live in listen-only mode on the company’s investor relations website at While not required, it is recommended that you join at least 10 minutes prior to the event start.

The CEO and CFO’s prepared remarks, supplemental slides and a call replay will be accessible from the Quarterly Earnings page on the Investor Relations page of Fortinet's website at

Zscaler, Inc. (NASDAQ: ZS), a leader in cloud security, recently announced a collaboration with NVIDIA to accelerate AI-powered copilot technologies. Zscaler will leverage NVIDIA AI technologies to deliver new user experience and security-centric copilot services to the enterprise. The introduction of new AI capabilities, leveraging NVIDIA NIM inference microservicesNVIDIA NeMo Guardrails, and the NVIDIA Morpheus framework, will dramatically increase the ability to process data from the Zero Trust Exchange™ platform, further enhancing Zscaler copilot’s ability to proactively defend enterprises against cyber threats and simplify IT and network operations.

The rapid advancement of AI is becoming a primary game-changer to accelerate cybersecurity innovations. To effectively manage IT operations and combat threats at scale, enterprises must fully harness their massive volumes of data to equip an offensive and proactive security posture. The new Zscaler ZDX Copilot, a first-of-its-kind digital experience monitoring copilot, with NVIDIA NeMo Guardrails, offers network, device, and application performance insights to enable simplified IT support and operations at scale. NeMo Guardrails orchestrates dialog management, delivering accuracy, appropriateness, and security in smart applications with large language models (LLMs). It helps safeguard organizations by overseeing generative AI systems.

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