Quantum Computing-as-a-Service Market: Introduction

  • Quantum computing is an part of computing dedicated on innovating computer based on the values of quantum theory. The quantum computing uses qubits or bits to join the exclusive ability of subatomic particles that permits to exist in more than one state.
  • Quantum computing connects the crucial behavior of quantum physics, such as entanglement, superposition, and quantum interference, and applies it to computing. Quantum computing focuses on evolving computer technology based on the principle of quantum theory.
  • Quantum Computing-as-a-Service offers access to runtime and programming tools, simulators with the help of cloud services that provides customers access to quantum computing platforms over the internet
  • Quantum computing uses the Software-as-a-Service (SaaS) delivery model. It is based on a qubit that can superimpose narrow AI functionality and binary position. The main objective of quantum computing is to make artificial general intelligence a reality.
quantum computing as a service market size and forecast

Quantum Computing-as-a-Service Market: Dynamics

Quantum Computing-as-a-Service Market: Key Drivers

  • Quantum Computing-as-a-Service is gaining traction in the finance and banking services industry owing to the demand for speed of transactions, trade activities, and data processing manifolds. Quantum computing helps in the identification of a developed and efficient way to manage financial risks.
  • Quantum computing uses classical algorithm calculation, so it executes the algorithm accurately as compared to a classical computer.
  • Quantum computing is difficult to program and build as compared to traditional computing As a result, it malfunctioned by faults in form of noise, and quantum coherence, which is essential to operations and however falls apart before any variable program has a chance to run the completion.
  • Lack of limited awareness and high initial cost to implement and integrate quantum Computing-as-a-Service is expected to hamper the market
quantum computing as a service market growth trend

Impact of COVID-19 on the Quantum Computing-as-a-Service Market

  • Increasing cases of COVID-19 across the globe are resulting in an economic slowdown. Developed countries are strongly affected by the pandemic. COVID-19 has a negative impact on quantum Computing-as-a-Service market. Some companies have withheld all investments in advanced business solutions and tools due to the low return on investment.

North America to Hold Major Share of Global Quantum Computing-as-a-Service Market

  • North America accounted for a prominent share of the global quantum Computing-as-a-Service market primarily because of the presence of developed economies in the region. Manufacturing businesses in North America have made massive investments in the quantum computing market, and numerous vendors have advanced in technology to cater to the fast-growing market. The market in North America is projected to expand considerably during the forecast period.
quantum computing as a service market size by competition landscape

Key Players Operating in the Global Quantum Computing-as-a-Service Market

  • Intel Corporation

Intel Corporation specializes in the design and manufacture of integrated processors, platforms, chipsets, circuits, and software solutions, such as Intel security, and embedded software. The company offers a wide range of products such as desktops, tablets, SSDs, boards & kits, server products, Intel gateways, modems, and radio frequency transceivers. It provides solutions for embedded applications for healthcare, automotive, energy, and retail market segments.

  • IBM Corporation

IBM Corporation is a prominent technology company that produces software and hardware. It is also an established research company and one of the leading platform providers of Quantum Computing-as-a-Service market. IBM Corporation’s product categories include analytics, cloud, Watson, customer engagement, Internet of Things, industry solutions, IT infrastructure, mobile, and security. IBM cloud services includes cloud managed services, cloud advisory services, and cloud migration services

Other key players operating in the global quantum Computing-as-a-Service market include D-wave Systems, Microsoft Corporation, Amazon.com, Inc., Rigetti & Co, Inc., Google LLC, Honeywell International Inc., QC Ware, and Quantum Circuits.

Quantum Computing-as-a-Service Market: Research Scope

Quantum Computing-as-a-Service Market, by Offering

  • Services
    • Quantum Computing-as-a-Service (QCaaS)
    • Consulting Services

Quantum Computing-as-a-Service Market, by Deployment

  • Cloud Based
  • On Premises

Quantum Computing-as-a-Service Market, by Application

  • Optimization
  • Simulation
  • Machine Learning
  • Offers (Quantum Chemistry and Quantum Finance)

Quantum Computing-as-a-Service Market, by Technology

  • Trapped Ions
  • Quantum Annealing
  • Superconducting Qubits
  • Others (Photonic and Topologic)

Quantum Computing-as-a-Service Market, by Industry

  • Banking & Finance
  • Space and Defense
  • Healthcare and Pharmaceuticals
  • Banking and Finance
  • Chemicals
  • Energy and Power
  • Transportation and Logistics
  • Government
  • Others (Photonic and Topologic

Quantum Computing-as-a-Service Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Quantum Computing As A Service Market