Cloud-based Quantum Computing Market Size in 2023 To 2029 | IBM (US), Microsoft (US), Google (US), AWS (US), Baidu (China), Rigetti Computing (US), Xanadu (Canada), Oxford Quantum Circuits (UK), IonQ (US), and Zapata Computing (US).

Cloud-based Quantum Computing: The report offers detailed insights into the drivers, growth prospects, and factors directly influencing the market. The market study provides an in-depth analysis of the international Cloud-based Quantum Computing Market, focusing on key factors such as drivers, sales inquiries, market boundaries, and market share. The report also emphasizes the assessment of market size in four key regions: North America, Europe, Asia-Pacific, and Rest of the World. This research study aims to provide readers with a comprehensive evaluation of current industry trends and breakdowns.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 + 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐓𝐎𝐂 ➡️ https://www.reportsnreports.com/contacts/requestsample.aspx?name=7112257

The major vendors in cloud-based quantum computing include IBM (US), Microsoft (US), Google (US), AWS (US), Baidu (China), Rigetti Computing (US), Xanadu (Canada), Oxford Quantum Circuits (UK), IonQ (US), and Zapata Computing (US).

The report encompasses global Cloud-based Quantum Computing market research data from various companies, including benefits, gross margins, strategic decisions in the global market, and more, presented through tables, charts, and infographics. Other critical aspects explored in this report include demand and supply dynamics, import and export scenarios, R&D development activities, industry advancements, and cost structures. Additionally, the report estimates consumption demand and supply figures, production costs, and product selling prices.

This report serves as a valuable resource for new entrants and stakeholders seeking to understand the complete market dynamics of the Cloud-based Quantum Computing industry. It examines the competitive landscape and future market outlook, considering various factors such as Porter's Five Forces analysis and the influence of related markets. The report also delves into the portfolios of key market players operating in the sector, offering a comprehensive analysis of the products and services they provide.

Furthermore, the report aids readers in assessing the impact of government regulations during the Covid-19 pandemic and provides insights into market performance throughout the global pandemic. The Global Cloud-based Quantum Computing Market report also sheds light on the major players in the industry, offering information about their product portfolios, business strategies, company profiles, and revenue shares. Finally, the study defines the strategies adopted by industry leaders, such as partnerships, development initiatives, collaborations, joint projects, and other endeavors aimed at enhancing their status in the sector.

"Increasing accessibility of quantum computers using cloud technology has driven the market's growth."

The global cloud-based quantum computing market is projected to grow from USD 798 million in 2023 to USD 4,063 million by 2028 at a CAGR of 38.5%.

Some factors driving the market growth include the growing adoption of cloud technology with increasing digitalization and the increasing use of quantum computing software and services across various verticals. However, stability and error correction issues and limited skilled expertise for deploying and using cloud-based quantum computing solutions are expected to hinder the market growth.

"BFSI to grow at highest CAGR during the forecast period."

Quantum computing is gaining interest in financial services, which aims to increase manifold, trade speed, transactions, and data processing. Some use cases of quantum computing in financial services include targeting and prediction, trading optimization, and risk profiling. Several partnerships and collaborations are taking place in the cloud-based quantum computing market in the BFSI industry. In 2018, MUFG Bank and Mizuho Financial Group joined as members of the IBM Q Hub at Keio University. Keio University worked with IBM to help organizations explore quantum applications important to business and science.

"Managed Services to grow with significant CAGR during the forecast period."

Managed services are when the organization outsources its day-to-day operations to focus on its core business. Managed services include daily maintenance, troubleshooting, security, administration, data backup, unified communications, on boarding, and network monitoring. Quantum computing service providers cater to industries' requirements such as healthcare, pharmaceutical, and aerospace &defense by providing them with quantum computing as a service (QCaaS). Quantum computing as a service (QCaaS) is a cloud computing service that provides access to quantum computers and its associated technologies. QCaaS allows users to access quantum computers via a web browser or an application programming interface (API). The QCaaS enables businesses and researchers to access quantum computing power without purchasing and maintaining their quantum computers. For instance, Amazon Braket is a fully managed quantum computing service designed to help speed up scientific research and software development for quantum computing. Its use cases include researching quantum computing algorithms, testing different quantum hardware, building quantum software faster, and developing open-source software.

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Key Benefits of Buying Report

The report is expected to help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the cloud-based quantum computing market and sub-segments. It will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and will provide them with information on key market drivers, restraints, opportunities, and challenges.

Research Coverage

The report segments the cloud-based quantum computing market. It forecasts its size by offering (software, services),technology (trapped ions, quantum annealing, superconducting qubits, other technologies), applications (optimization, simulation, modeling, sampling, encryption, other applications), verticals (BFSI, healthcare and pharmaceuticals, aerospace &defense, research and academia, manufacturing, transportation and logistics, chemicals, and other verticals),and region (North America, Europe, Asia Pacific, Middle East &Africa, and Latin America).

This release was published on openPR.