Quantum computing is rapidly evolving with significant global investments.

The US, China, and Europe are leading quantum computing development, driven by companies like IBM, Google, and Microsoft.

China leads in quantum computing investment with $15.3 billion, followed by Europe at $7.2 billion and the US at $3.7 billion.

The UK and UAE have invested in quantum research, with the UK allocating £2.5 billion.

The global quantum computing market is expected to reach $1 trillion by 2035 at an 11.5% growth rate.

IBM has launched a Quantum Computational Center in Spain and partnered with Telecom Egypt.

Google achieved quantum supremacy in 2019, and IBM launched a quantum program for students in 2020.

Quantum computing is expected to significantly impact industries like healthcare, finance, logistics, and energy.

Quantum computing development faces challenges, including the need for near absolute zero temperature and the risk of data security breaches.

India is investing ₹6,003 crore in the National Quantum Mission despite challenges in quantum computing.

The mission aims to develop quantum computers and create a quantum ecosystem.

Developing quantum computing is a complex process requiring significant investment and collaboration.

Quantum computing has vast potential applications and is expected to evolve rapidly.

IBM, Google, and Microsoft are leading quantum computing development and are expected to dominate the market.

The cloud-based quantum computing market is expected to reach USD 6,289.8 Million by 2030, growing at a 35.5% CAGR.

North America, led by the US, is expected to dominate the cloud-based quantum computing market.

The research and academia segment will hold the largest market share.

Quantum computing is rapidly evolving with significant global investments.

The US, China, and Europe are leading quantum computing development, driven by companies like IBM, Google, and Microsoft.

Title:

Content: Quantum Computing Market was valued at nearly USD 234.06 billion by 2032

Prudour Private Limited

Updated · Mar 06, 2023

Quantum Computing Market Overview

Published Via 11Press: Quantum computing is a rapidly developing market that is revolutionizing how we approach computing and data processing. By employing principles of quantum mechanics to perform computations, quantum computers are capable of solving problems that classical computers may find impossible or impracticable to resolve.

The global quantum computing market size is forecast to reach USD 234.06 billion by 2032 from USD 10.13 billion in 2022, rising at a compound annual growth rate (CAGR) of 36.89% during the forecast period.

At present, the quantum computing market is dominated by a few major players such as IBM, Google, Microsoft, and Honeywell. These firms are investing heavily in quantum computing research and development as well as creating quantum computing hardware and software systems.

The quantum computing market is expected to have a profound effect on industries such as healthcare, finance, logistics, and energy. Some key applications of quantum computing include drug discovery, supply chain optimization, financial modeling, and climate modeling.

Though the quantum computing market is promising, it still faces several obstacles such as high costs of hardware, a shortage of skilled experts in this area, and technical difficulties when building large-scale quantum computers. With ongoing research and development efforts, however, these problems should be overcome within the coming years, leading to even greater growth and innovation in this space.

Key Takeaways

  • The global quantum computing market size was valued at USD 234.06 billion in 2022 and is expected to grow at a CAGR of around 36.89% from 2022 to 2032.
  • Quantum computing is capable of solving problems that would be intractable or impossible for classical computers to solve.
  • The quantum computing market is dominated by a few major players, including IBM, Google, Microsoft and Honeywell.
  • The quantum computing market is expected to have a profound effect on numerous industries, such as healthcare, finance, logistics and energy.
  • Quantum computing has many important applications such as drug discovery, supply chain optimization, financial modeling and climate modeling.
  • The quantum computing market remains plagued by several obstacles, such as the high cost of quantum computing hardware, lack of qualified quantum computing experts and technical difficulties in building and running large-scale quantum computing systems.
  • Research and development are expected to overcome these obstacles within the next couple of years, propelling even greater growth and innovation in the quantum computing market.

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Regional Snapshot

  • North America: North America is currently the leading market for quantum computing, with the United States playing a major role. Major companies such as IBM, Google, and Microsoft are driving this growth through their presence and investment in research and development activities related to quantum computing. This region boasts numerous key players such as IBM, Google, and Microsoft which are driving demand within this region.
  • Europe: Europe is an increasingly important market for quantum computing, with countries such as the UK, Germany, and France investing heavily in research and development. Through partnerships between quantum computing companies and other technology firms as well as the growing adoption of quantum computing across various industries, this region’s market is experiencing rapid expansion.
  • Asia Pacific: The quantum computing market in Asia Pacific is expected to experience significant growth over the coming years due to increased investments in research and development by countries like China, Japan, and South Korea. Furthermore, there have been an increasing number of collaborations between companies using quantum computing with academic institutions as well as its increasing adoption across industries like healthcare and finance – all contributing factors for market expansion within this region.
  • The Rest of the World: Countries such as Brazil, South Africa, and the UAE are expected to experience significant growth in the quantum computing market over the coming years due to increased investments in research and development efforts as well as the growing adoption of quantum computing across various industries. These factors are fueling this region’s meteoric rise in this region.

Drivers

  • Quantum Computing Gaining Adoption in Various Industries: Quantum computing is seeing an uptick in popularity across a range of industries, such as healthcare, finance, logistics, and energy – as companies seek to use their power to solve complex problems and gain an edge in competition.
  • Investments in Quantum Computing Research and Development: Governments, academic institutions, and private companies have made substantial investments in quantum computing research and development, spurring innovation and progress within the field.
  • Growing Number of Partnerships and Collaborations: There has been an uptick in partnerships and collaborations between quantum computing companies and other technology firms, as well as academic institutions and research organizations. This trend is propelling the development of new quantum computing hardware and software systems, as well as its adoption across various industries.
  • Increasing Access to Cloud-Based Quantum Computing Services: The growing availability of cloud-based quantum computing services is making it simpler for companies and researchers to utilize this cutting-edge technology, spurring adoption and innovation within the field.

Restraints

  • Limited Access to Qualified Quantum Computing Experts: Unfortunately, there is currently a shortage of highly experienced quantum computing specialists, making it challenging for companies to construct and sustain quantum computing systems.
  • Technical Challenges in Building and Maintaining Large-Scale Quantum Computing Systems: The development of large-scale quantum computing systems is still in its early stages, so there are numerous technical obstacles that must be overcome, such as noise reduction, error correction, and scalability.
  • Limited Quantum Computing Applications: Although the list of potential applications for quantum computing is growing, the number of practical ones that have been developed and implemented remains limited. This can make it challenging for companies to justify investing in quantum computing technology.
  • Regulatory Challenges: Quantum computing technology may face regulatory restrictions, particularly around data privacy and security. This could create additional obstacles to the adoption and investment in the technology.

Opportunities

  • Growing Number of Partnerships and Collaborations: The growing number of partnerships and collaborations among quantum computing companies, other technology firms, academic institutions, and research organizations is creating opportunities for the development of new quantum computing hardware and software systems as well as its adoption across various industries.
  • Advancements in Quantum Computing Hardware and Software: With the rapid progress being made in the development of quantum computing hardware and software, new opportunities will present themselves for applying this technology across various industries and fields.
  • The growing availability of cloud-based quantum computing services: Cloud-based quantum computing services are making it simpler for companies and researchers to access and utilize quantum computing technology, spurring adoption and innovation within the field.
  • Growth of Quantum Computing as a Service: As more companies and researchers embrace the potential of quantum computing, cloud-based quantum computing services are creating exciting new business opportunities for those offering these solutions.
  • Potential for Breakthroughs in Areas such as Drug Discovery, Finance, and Energy: Quantum computing holds the potential to unravel complex issues in fields like drug discovery, finance, and energy – leading to major breakthroughs and advances. This presents companies with unique opportunities for those who can develop and implement quantum computing solutions in these sectors.

Challenges

  • Technical Challenges in Constructing and Running Large Quantum Computing Systems: As quantum computing systems continue to emerge, numerous technical obstacles must be overcome such as noise reduction, error correction, and scalability. These issues make it challenging for companies to construct and run these massive quantum computers efficiently.
  • Limited Access to Qualified Quantum Computing Experts: There is currently a shortage of highly experienced quantum computing professionals, making it difficult for companies to construct and maintain quantum computing systems. This shortage could potentially restrict the growth of this industry in the coming years.
  • Quantum computing Applications: While quantum computing has many potential uses, the number of practical applications that have been created and implemented remains limited. This could make investing in quantum computing technology and research on practical applications an attractive prospect.

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Recent Developments

  • Google Claims Quantum Supremacy: In 2019, Google claimed to have achieved quantum supremacy by performing a calculation on its quantum computer that even the most powerful supercomputers would take thousands of years to complete. This was seen as an important milestone in the advancement of quantum computing technology.
  • IBM Launches Quantum Computing Program for Students: In 2020, IBM unveiled a quantum computing program specifically tailored towards students that provides them with access to IBM’s resources and tools, as well as a platform for learning and collaboration.
  • Honeywell Achieves Quantum Computer Record Performance: On March 20, 2021, Honeywell revealed its creation of a quantum computer with an astonishing quantum volume of 512. This feat marked an amazing advancement in quantum computing technology and demonstrated how rapidly progress has been made since then.
  • Amazon Web Services Announces Quantum Computing Service: On June 2021, Amazon Web Services (AWS) announced the launch of its own quantum computing service called Amazon Bracket. This offering gives customers access to various vendors’ hardware as well as tools and resources for developing and testing quantum algorithms.

Key Market Segments

Type

  • Hardware
  • Software
  • Services

Application

  • Defense
  • Healthcare & pharmaceuticals
  • Chemicals
  • Banking & Finance
  • Energy & power

Key Market Players

  • D-Wave Systems
  • Google
  • IBM
  • Intel
  • Microsoft
  • 1QB Information Technologies
  • Anyon Systems
  • Cambridge Quantum Computing
  • ID Quantique
  • IonQ
  • QbitLogic
  • QC Ware
  • Quantum Circuits
  • Qubitekk
  • QxBranch
  • Rigetti Computing

Nature Insights

  • Progress is being made in the development of quantum computing hardware: Despite the challenges facing large-scale quantum computing systems, progress is being made on quantum computing hardware. This includes creating quantum processors with increasingly more qubits and creating new materials suitable for use in quantum computers.
  • Quantum computing software is still in its early stages: While progress is being made with quantum computing hardware, software development for quantum computation remains at a standstill. This presents an immense challenge to the industry as developing efficient quantum algorithms is essential to realizing its full potential.
  • Collaboration is essential to the advancement of quantum computing: Collaboration between companies, academic institutions, and research organizations is essential for progress in this industry. This includes joint efforts to develop new hardware and software systems as well as collaborations that promote quantum computing across various industries.

Report Scope

Report Attribute Details
The market size value in 2022 USD 10.13 Bn
Revenue forecast by 2032 USD 234.6 Bn
Growth Rate CAGR Of 36.89%
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of the World
Historical Years 2017-2022
Base Year 2022
Estimated Year 2023
Short-Term Projection Year 2028
Long-Term Projected Year 2032

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FAQ.

What is quantum computing?

Quantum computing is a type of processing data using quantum mechanics. It relies on principles such as superposition, entanglement, and interference which enable quantum computers to perform calculations that would be impossible with classical computers.

What are some potential applications of quantum computing?

Quantum computing holds great promise for revolutionizing industries such as drug discovery, finance, energy, and logistics. Potential uses include creating new drugs and materials, optimizing supply chains and logistics networks, and even improving weather forecasting models with greater precision.

What are some of the challenges facing the quantum computing market?

The quantum computing market faces numerous obstacles, such as technical difficulties in building and running large-scale quantum computers, high costs associated with quantum computing hardware, a scarcity of highly qualified quantum experts, and an absence of practical applications developed and deployed.

Who are some of the major players in the quantum computing market?

Major companies operating within this space include IBM, Google, Microsoft, Honeywell, Intel, and Rigetti Computing. These firms are actively developing and commercializing quantum computing hardware and software systems.

What is the outlook for the quantum computing market?

Overall, analysts anticipate a bright future for quantum computing, with continued investment and innovation anticipated in the coming years. Though still in its early stages of development, its potential advantages are immense - leading to rapid industry growth over the coming years.

Prudour Private Limited

The team behind market.us, marketresearch.biz, market.biz and more. Our purpose is to keep our customers ahead of the game with regard to the markets. They may fluctuate up or down, but we will help you to stay ahead of the curve in these market fluctuations. Our consistent growth and ability to deliver in-depth analyses and market insight has engaged genuine market players. They have faith in us to offer the data and information they require to make balanced and decisive marketing decisions.

China leads in quantum computing investment with $15.3 billion, followed by Europe at $7.2 billion and the US at $3.7 billion.

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Content: US-China technology war threatens scientific progress
US-China technology war threatens scientific progress
The world is currently witnessing an escalating technological war between the United States and China, while Europe is also participating in it, but only timidly, as its efforts to maintain technological supremacy decline due to stagnation in this area.
As the major powers in that war seek to protect themselves from technological dependency, it could threaten the world ’ s progress and prosperity by fragmenting it into competing technological worlds.
Hiba Muhyi
German writer Wolfgang Hearn published a book in 2024 entitled “The Technological War between China and the United States and the European Position on Competition ”, in which he discusses the historical role of these major powers in supporting the march of technological progress, and the most important technological fields that are grappling with, especially quantum computing, artificial intelligence, biotechnology and others, as well as the dangers of this conflict and the feasibility of cooperation between powers in the technological field.
The book traces the knowledge and technological contributions of the United States, China and Europe, noting that Washington established modern global technological development when the Second Industrial Revolution began with the discovery of electricity and the Third Industrial Revolution with the introduction of computers.
This was followed by innovations such as the Internet and electronic chips.
According to a report published by the Future Institute for Advanced Studies and Research, this American success is due to the availability of elements of knowledge (universities and research bodies) and capital.
China contributed to historical technological development during the period (960 – 1279 AD) through the invention of paper, printing art, powder gunpowder and magnetic compass, followed by a rapid decline due to, inter alia, the Opium Wars, the end of the Empire, and civil wars, until China intensified efforts to achieve a slow recovery beginning in 1978, and then a strong rise during the last two decades.
Europe experienced the first industrial revolution a hundred years ago, as it pioneered natural sciences and medicine at the time, but there is now a marked decline in several technological areas when compared to Beijing and Washington, and this affected leading European industries, such as the automotive industry; where leading companies, such as Volkswagen, lag in the areas of autonomous and automated driving.
The book offers several technological areas in which conflicts between major powers arise, as follows:
Artificial Intelligence: Artificial intelligence applications aim to simulate the human mind in its patterns of thinking and processing of data, which makes the performance of complex tasks entrusted to it.
The United States provides support to companies involved in this field, resulting in the launch of ChatGT in 2022, which can be used to obtain high-quality and accurate answers on various topics.
China has banned the app and created its latest emulator, Ernie Bot, which was launched in 2023.
European efforts to invest in artificial intelligence appeared disappointing, with the German minister of research presenting a plan of action aimed at investing about 1.6 billion euros by 2025 in the field.
Semiconductors or electronic chips are used in various low-tech devices, from washing machines to missiles, a US invention that emerged in the 1950s, but two companies currently monopolize the field: Samsung in South Korea and TSMC in Taiwan, and Beijing, Washington and Europe cannot compete, at least in the near term.
Digital transformation: Digital transformation aims to embed technological technologies into business and social processes and interactions.
Washington and Beijing dominate this area, the first is the main founder of the four Internet giants Google, Apple, Facebook and Amazon, while the second contributed three rival giants, namely: Baidu, Alibaba and Tencent, while Europe is at the bottom of the list of leading companies such as: Zalando and Otto.
Quantum computing and quantum theory: The field of quantum computing is based on combining disciplines, such as computer science, physics and mathematics, using quantum theory to achieve sophisticated analytical processing of data that ordinary computers cannot process with the same speed and accuracy.
This contributes to breakthroughs in many fields, such as medicine, by making it possible to diagnose and treat diseases cheaply such as Alzheimer ’ s, epilepsy and Parkinson ’ s.
It also alters war strategies by creating a radar based on quantum technologies that can track and locate an adversary.
China tops the list of investors in this new technology.
According to U.S. consulting firm McKinsey, Chinese investment reached $15.3 billion in 2022.
It was followed by Europe with $7.2 billion and the United States with $3.7 billion.
• Energy generation: States are seeking to exploit technology to provide promising and safe ways to generate energy from it, nuclear fusion (the production of an artificial sun), which is based on the idea of merging two light atomic nuclei of hydrogen isotopes such as deuterium and tritium to produce one heavier atomic nucleus of a new element, helium, as happens on the surface of the sun.
This fusion is accompanied by the emission of four times the amount of energy produced by nuclear fission reactions.
However, there are obstacles to the actual implementation of this technology, such as the need to provide high temperatures of up to 100 million degrees Celsius to ensure that no long-term greenhouse gases or radioactive waste is produced.
Despite the difficulty of using fusion in power generation in the near future until 2050, countries are sparing no effort to develop this technology; China has developed several nuclear fusion reactors, the latest of which is the advanced experimental Tokamak designed to provide temperatures of up to 120 million degrees Celsius in 2022.
The United States is also interested in supporting related research and partnering with Japan this year to accelerate nuclear fusion development.
Europe is also making concrete efforts in this area through the joint European-Japanese project JT-60SA in 2022.
Biotechnology and medicine: applications of digital health care, genetic foods, and genetic scissors (Chris BR), which refers to a technique used to cut and modify DNA in a targeted way; genes can be inserted, removed, or disabled, whether in plants, animals, or humans; making its use ethically accountable, especially if applied to humans.
China uses it in agriculture to ensure the production of genetic foods and provide needed food for its people, while the United States approved the first treatment for sickle cell disease late last year, and the use of the technology in Europe faces strict legal rules according to the judgment of the European Court of Justice in 2018.
Space travel: The United States, China and Russia have paid special attention to space by sending missions and spaceflight to the Moon and Mars.
But competition between Washington and Beijing has now subsided as Moscow has been hit by financial crises.
The technological impulse of Washington and Beijing supports the economic impulse in this area: the need to mine space and reveal its resources that can be used, and for Europe it does not yet have an ambitious and practical policy to invade space.
Patents and people: The United States tops the list, with its universities, research centers and capital, while China filed nearly 3 million patents in 2023, of which only 10 percent were accepted.
Germany is a European power in the field of patents, but has been in decline recently, according to the German government ’ s report on the future strategy for research and innovation.
Because the human element is the most important link in the development of technology and the registration of patents, the major powers take several ways to prepare the human element, especially in the fields of mathematics, computer science, natural sciences and technology, but suffer a huge gap between supply and demand.
But China has two competitive advantages: huge numbers graduate each year from universities, and an active policy of sending students and scientists abroad to study and train and then calling them back when needed.
According to the book, the technological struggle between major powers cannot be confined to the former; there are other promising areas.
In the military field, combat drones and autonomous military robots can be built that make decisions on the battlefield autonomously without the need for human intervention.
At the urban level, smart cities can be created that rely on the Internet of Things to do their functions quickly and with a high degree of accuracy, such as facilitating traffic in those cities, rationalizing the energy used and environmental monitoring for any potential environmental risks.
Technology cooperation between China, the United States and Europe is crucial, especially in the circumstances of climate change, energy crises and migration, especially as the continuation of the technological war will lead to a global rise in prices, a decline in welfare rates and a decline in global total production by 7 percent, according to economists at the International Monetary Fund.
It is expected that the current technological war between Beijing and Washington will lead to technical fragmentation, as two different technological worlds, one American and the other Chinese, may arise, as has already happened with the Internet, resulting in increased costs for consumers and producers and a slowdown in the desired development to prevent the exchange of knowledge and technology between the two worlds.
While the writer understands the need for countries to protect their economies and technological progress from falling into the trap of dependence, the solution is to take an approach aimed at reducing those risks by diversifying relations with many international actors and forming alliances rather than cutting trade and technology ties, as happened between the United States and China in the trade war launched by former US President Donald Trump.
arabic

How large are global investments in quantum computing?

How much have countries and blocs invested in quantum computing?

U.S. invested $3.7 B
China invested $15.3B

What countries and blocs are leading in developing quantum computing?

The UK and UAE have invested in quantum research, with the UK allocating £2.5 billion.

Title:

Content: TIMES ENTERPRISE NETWORK: RISING STARS

Start-up leads charge in widening access to quantum computing

Oxford Quantum Circuits sells access to its supercomputer via Amazon Web Services
new

Dr Ilana Wisby is the chief executive of Europe’s first “quantum computing-as-a-service” company and one of very few women leading start-ups in the field.

Quantum computing is developing rapidly, and global investment in the sector has topped $35.5 billion (£27 million) as industry and governments look to seize on the opportunity it presents. In his most recent budget, Jeremy Hunt unveiled a £2.5 billion funding pot for quantum research, even as he slashed funding for other tech areas.

Quantum computers can operate much faster than conventional computers and perform multiple calculations simultaneously. The technology is still maturing, but in the near future it could solve previously intractable problems, enhance artificial intelligence and transform processes such as drug discovery.

Wisby, 32, who holds a PhD in

Title:

Content: Monday, 25 March 2024 02: 58 GMT
UAE invests in ‘ quantum computing ’ to look to the future
(MENAFN- Al-Bayan)
The UAE is investing in the sector of quantum computing, which is expected to reach a global market value of $1 trillion in 2035, as one of the fastest expanding fields of technology in the world and because of its innovative applications capable of solving challenges in many sectors, because of its strength and speed in calculating physical phenomena, compared to traditional computers.
The UAE aims to invest in quantum computing to enable innovation and a knowledge and sustainable economy through the Quantum Research Center and UAE institutes and universities to explore the future of this vital sector. The Institute of Technology Innovation ’ s (TII) Quantitative Research Center is working to build the first quantum computer in the UAE, according to the Interregional Center for Strategic Analytics in Abu Dhabi.
The UAE has quickly realized the benefits of the quantum computing sector in all sectors and fields, especially in the economy and scientific research, as part of the country ’ s long-term strategies to keep pace with the global technological development represented by the fourth industrial revolution and artificial intelligence, which will change the face of the world in the coming years.
IDC expects global investments in quantum computing to reach $16.4 billion by the end of 2027, with a compound annual growth rate of 11.5%, which includes investments by the public and private sectors and R & D spending from technology, services and finance companies.
There is growing interest in quantum computing by global government agencies, with 14 of them (13 countries plus the European Union) announcing multi-year initiatives that will generate billions of dollars for quantum computing research.
The center said that the UAE is among the 50 projects working to create an attractive investment environment for investments in new and future sectors, including quantum computing technology.
According to Accenture Middle East, quantum computing technology is advancing rapidly, making it a promising technology sector.
The US and China dominate the quantum computing sector to take advantage of the features of the new technological revolution that has enabled scientists to study the basic particles of matter, whose applications have multiplied across different fields despite their relative novelty, promising radical transformations for any industry dependent on speed and processing power, including aerospace, automotive, medicine and others.
Quantum computing technologies have a huge market value, with quantum computing alone expected to reach a global market value of $1 trillion by 2035.
Quantum technology has played a role in many areas, including complex mathematical models, simulations, electronic devices, CT scanners and many others, as it has the potential to revolutionize the way humans communicate and process information at record speeds.
The most prominent areas of use of quantum computing can be found in many fields of military, communications and medicine, and can address economic crises and challenges quickly, and there is no doubt that quantum computing technology can change the map of national industries.
Major technology companies are leading efforts to develop quantum computing, with Google Research Lab and IBM, which built one of the largest quantum computers in the field, and the Chinese University of Science and Technology has developed a quantum computer that is 10 billion times faster than the computer developed by Google.
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What countries and blocs are leading in developing quantum computing?

What countries and blocs are leading in developing quantum computing?

The global quantum computing market is expected to reach $1 trillion by 2035 at an 11.5% growth rate.

IBM has launched a Quantum Computational Center in Spain and partnered with Telecom Egypt.

Title:

Content: Back to top

Image: Bigstock

Will Marginally Higher Revenues Benefit IBM's Q1 Earnings?

Read MoreHide Full Article

International Business Machines Corporation (IBM - Free Report) is scheduled to report first-quarter 2023 results on Apr 19, after the closing bell. In the last reported quarter, the New York-based integrated systems provider missed the Zacks Consensus Estimate by a penny. The company is expected to have recorded higher aggregate revenues year over year despite a challenging macroeconomic environment and softness in traditional businesses.

Factors at Play

During the first quarter, IBM expanded its Client Innovation Center by launching its second Japan Innovation Hub in Cebu City, Philippines. The new hub will be manned by a Filipino workforce with specialized skillsets in data analytics, AI, hybrid cloud transformation, application management, supply chain, finance and procurement. Leveraging AI, ML and automation techniques, it combines human expertise and advanced technologies for faster response, efficiency and transparency through a holistic approach to secure hybrid cloud environments. These are likely to have driven the top-line growth in the Software segment.

During the quarter, IBM was selected as a technology partner by Telecom Egypt (TE) to modernize and transform network operations in the Middle Eastern country. With the aid of IBM Cloud Pak for Watson AIOps, TE will have a comprehensive overview of its IT ecosystem, enabling greater management and control of the nationwide IT operations. IBM Robotic Process Automation will also help automate the tracking of service quality and network capacity. These automation solutions will greatly increase operational effectiveness, guarantee fast and superior service to end consumers and accelerate the nation's digital growth. These are likely to have generated incremental revenues in the Consulting segment.

During the to-be-reported quarter, IBM also launched Quantum Computational Center in collaboration with Fundación Ikerbasque in the Basque Country of Spain. This is the second such facility established in Europe. The collaboration aims to enhance international research and industrial cooperation and construct a world-class quantum-trained community pool with comprehensive learning programs. Such state-of-the-art products are likely to have translated into higher revenues in the Infrastructure segment.

However, escalating expenses toward cloud platform development amid intense competition in the cloud space are likely to have eroded its margins. In addition, the company is expected to have recorded adverse currency translation effects, likely impacting its bottom line.

The Zacks Consensus Estimate for total revenues for the company stands at $14,286 million. It generated revenues of $14,197 million in the prior-year quarter. The consensus mark for earnings is currently pegged at $1.27 per share, indicating a decline from $1.40 in the year-earlier quarter.

Earnings Whispers

Our proven model does not predict an earnings beat for IBM this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here.

Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00%, with both pegged at $1.27. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: IBM currently has a Zacks Rank #3.

Stocks to Consider

Here are some companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this season:

Verizon Communications Inc. (VZ - Free Report) is set to release quarterly numbers on Apr 25. It has an Earnings ESP of +0.63% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Earnings ESP for Corning Incorporated (GLW - Free Report) is +3.71% and it carries a Zacks Rank of 3. The company is scheduled to report quarterly numbers on Apr 25.

The Earnings ESP for Meta Platforms, Inc. (META - Free Report) is +6.60% and it sports a Zacks Rank of 1. The company is scheduled to report quarterly numbers on Apr 26.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Published in

What companies are leading in developing quantum computing?

What countries and blocs are leading in developing quantum computing?

Google achieved quantum supremacy in 2019, and IBM launched a quantum program for students in 2020.

What countries and blocs are leading in developing quantum computing?

What have been the landmark achievements in quantum computing?

Google's Sycamore quantum supremacy experiment

Quantum computing is expected to significantly impact industries like healthcare, finance, logistics, and energy.

What fields can quantum computers advance?

Quantum computing development faces challenges, including the need for near absolute zero temperature and the risk of data security breaches.

Title:

Content: The present and future of quantum computing
New Research 2022 / 12 / 13 19: 16: 07 Edited by: Yuansheng
The limitations of contemporary supercomputers, as well as their implications for academia and institutions around the world, are drawing the attention of the scientific community.
For example, researchers can use current techniques to perform more complex simulations, such as those that focus on chemistry and the reactive properties of each element.
However, as the complexity of these interactions increases, they become more challenging for current supercomputers.
Due to the limited processing power of these devices, it is nearly impossible to complete these types of calculations, forcing scientists to choose between speed and precision when conducting these studies.
To provide some context for the breadth of these experiments, let ’ s start with the example of hydrogen atom modeling.
With only one proton and one electron in hydrogen, researchers can easily perform chemical reactions manually or rely on computers to complete calculations.
However, depending on the number of atoms and whether the electrons are entangled, the process becomes more difficult.
To write out every conceivable result of an element like thulium, which contains a staggering 69 electrons, all twisted together, would take more than 20 trillion years.
Obviously, this time is too long for us, and we need a new way out.
Quantum computers open the door to a whole new world of possibilities.
The equations needed to simulate chemistry have been known to the scientific community since the 1930s, but it has only recently begun to build computers with the ability and reliability to perform these calculations.
Today ’ s quantum computers provide the speed researchers need to mimic all aspects of chemistry, making them significantly predictive and reducing the need for laboratory testing.
Colleges and universities may be able to use quantum computers to augment existing knowledge of chemistry.
Consider the potential time and cost savings that could be achieved if quantum computers were able to eliminate the need for laboratory testing during research.
Moreover, since the computational power to master chemical properties did not exist previously, this step could lead to a major step forward in chemistry previously unknown to the world
01. Quantum computing in practice
Many companies are already using quantum computing.
For example, IBM is working with Mercedes-Benz, ExxonMobil, CERN, and Mitsubishi Chemical to implement quantum computing into their products and services:
Mercedes-Benz
Mercedes-Benz is exploring quantum computing to create better batteries for its electric vehicles.
The company hopes to shape the future of modern electric vehicles by implementing quantum computing in its products and making an impact on the environment by implementing quantum computing in its products in an effort to be carbon neutral by 2039.
Simulating what ’ s going on inside a battery is incredibly difficult, even with today ’ s most advanced computers.
However, using quantum computing technology, Mercedes-Benz can more accurately simulate chemical reactions in car batteries.
Exxon Mobil
ExxonMobil is using quantum algorithms to more easily discover the most efficient routes for transporting clean combustion fuels around the world.
Without quantum computing, it would be almost impossible to compute all routing combinations and find the most efficient routing combinations.
European Centre for Nuclear Research
The European Centre for Nuclear Research (CERN) is trying to discover the secrets of the universe.
Using quantum computing, CERN can find algorithms to pinpoint complex events in the universe in a more efficient way.
For example, quantum computing could help CERN figure out patterns in the Large Hadron Collider (LHC) data.
Mitsubishi Chemical
A team from Mitsubishi Chemical and Keio University is working on a key chemical step for lithium-oxygen batteries: lithium superoxide rearrangement.
They are using quantum computers to "perform accurate simulations of what happens inside a chemical reaction at the molecular level".
Advantages and disadvantages of quantum computing
Quantum computing has the potential to revolutionize industries such as finance, pharmaceuticals, artificial intelligence, and automotive in the coming years, fundamentally changing the world around us.
The value of quantum computers comes from the probabilistic way in which they operate.
By using the probabilistic computing style directly instead of simulating it, computer scientists have shown potential applications for fast search engines, more accurate weather forecasts, and precise medical applications.
In addition, quantum computers represent the original motivation for the development of quantum computing and are very useful in directly simulating quantum mechanics.
Perhaps the main appeal of quantum computing is that it can solve problems faster, making it ideal for applications that need to handle large amounts of data (for example, aerospace logistics, drug manufacturing, molecular research, or other fields that use canonical processes at the atomic level).
However, creating a powerful quantum computer is not an easy task and involves many drawbacks.
The sensitivity of quantum computing systems to extreme temperatures is one of the main drawbacks.
In order for the system to function properly, it must be near absolute zero temperature, which poses a major engineering challenge.
Moreover, quantum bit quality is not where it needs to be.
After a given number of instructions, qubits can produce inaccurate results, and quantum computers lack error correction to solve this problem.
Because of the number of wires or lasers required to make each qubit, keeping control is difficult, especially if the goal is to create a chip with a million qubits.
And quantum computing is very expensive: the cost of a single qubit can be as high as $10,000 or so.
Finally, if standard information systems and encryption methods are used for malicious purposes, they will be overwhelmed by the processing power of quantum computers.
These computers ’ reliance on the principles of quantum physics allows them to decrypt the most secure data (e.g., bank records, government secrets, and internet / email passwords).
Cryptography experts around the world will need to develop encryption techniques that can withstand possible attacks from quantum computers.
Impact of Quantum Computing on Higher Education
The education community is always looking for new opportunities for growth and prosperity.
Many higher education institutions have begun extensive research into quantum computing, using the unique properties of quantum physics to usher in a new era of technology, including computers capable of performing currently impossible computations, ultra-secure quantum networks, and exotic new quantum materials.
Oxford University
Researchers at the University of Oxford are interested in quantum research because of its huge potential in areas such as healthcare, finance and security.
The university is recognized worldwide as a pioneer in the field of quantum science.
Oxford and York universities demonstrate first working pure state NMR quantum computer
Harvard University
Researchers at Harvard University have established a community group, the Harvard Quantum Initiative for Science and Engineering, with the goal of making significant progress in science and engineering related to quantum computers and their applications.
According to research conducted by the group, the “second quantum revolution ” will build on the first quantum revolution, which is responsible for the development of global communications, technologies such as GPS flight, and medical breakthroughs such as magnetic resonance imaging.
University of Maryland
Researchers from the University of Maryland's Department of Physics, the National Institute of Standards and Technology, and the Physical Sciences Laboratory are part of the Joint Quantum Institute "dedicated to the goal of controlling and utilizing quantum systems."
Institute of Technology
MIT researchers have built a quantum computer and are working on areas such as quantum algorithms and complexity, quantum information theory, measurement and control, and applications and connectivity.
University of California, Berkeley
Researchers at the Center for Quantum Computing and Information at the University of California, Berkeley are working on basic quantum algorithms, cryptography, information theory, quantum control, and experiments with quantum computers and quantum devices.
University of Chicago Quantum Exchange
Researchers at the University of Chicago Quantum Exchange are focusing on developing new ways to understand and utilize the laws of quantum mechanics. CQE encourages collaboration, joint projects and information exchange between research groups and collaborating institutions.
China University of Science and Technology
Researchers at the University of Science and Technology of China are exploring quantum optics and quantum information.
Areas of major interest include quantum foundations, free space and fiber-based quantum communication, superconducting quantum computing, supercooled atomic quantum simulations, and quantum metrology theory and theory-related concepts.
One broad impact on higher education is that quantum computing will open up new careers for tomorrow ’ s students.
In addition, this technology will allow for accurate forecasting of the overall growth of the job market and the demand for skilled and knowledgeable workers in all fields.
In the near future, the power of quantum computing will be unleashed on machine learning.
In the field of education, quantum-driven algorithms will make informed decisions about student learning and deficiencies, just as quantum computing promises to revolutionize medical classification and diagnosis.
In addition, quantum computing will power a new era of individual learning, knowledge and achievement.
This will be achieved by processing large amounts of student data in a timely manner, and quantum computers may eventually have the ability to control programs designed to accommodate students ’ unique achievements and abilities, as well as backfilling specific areas where students may need help.
These aspects of quantum computing are critical to achieving the goal of truly personalized learning.
Through the cloud, you can access any of the relatively small number of physical quantum subcomputers in the world.
These computers include the 20 + IBM Quantum System One, which is currently installed more in the United States, Germany and Japan, and more are planned in the United States, South Korea and Canada.
Anyone with an internet connection can log on to a quantum computer and be educated on the basics of quantum programming.
For example, IBM offers a variety of quantum-centric education programs, including access to quantum computers, teaching support, summer schools, and hackathons.
The IBM Quantum Educator and Investigator Program and Qubit ’ s “Introduction to Quantum Computing ” are just two examples of quantum computing resources that are accessible to educators and students alike.
Such initiatives are absolutely necessary.
Colleges and universities around the world need to collaborate to bridge the current knowledge gap in quantum education and prepare the next generation of scientists and engineers.
04 、 Conclusion
The quantum computing revolution is happening.
We have just entered a new era of computing.
Next generation computing is not the next generation of hardware, but the next generation of algorithms and computing
Quantum computers use quantum mechanics principles to solve problems.
Compared to classical computers, the state of a quantum system is inherently probabilistic.
This means that quantum computers can handle many times more computations than conventional computers.
05, extended reading
The main players in quantum computing can be divided into four categories: the first category is international technology giants, such as IBM, Google, Honeywell, etc.; the second category is quantum computing startups, such as Rigetti, IonQ, etc.; the third category is national scientific research institutes, such as Fermilab, Argonne National Laboratory, and the Institute of Quantum Information and Quantum Technology Innovation. University of Cambridge, University of Science and Technology of China, Harvard University, etc.
Today's quantum computers can only deal with one or a few aspects of the problem, and they have not yet reached the level of generality.
Quantum technology companies not only need to invest heavily in developing quantum computers, but also need to have many researchers designing and manufacturing quantum hardware and software to support these machines.
In the future, general quantum computers need to work on the underlying quantum physics equipment, quantum computer architecture, quantum resource scheduling, upper quantum programming language, quantum algorithms and quantum application software.
The following are typical representatives of the quantum computing industry regarding the latest technological and commercial advances in quantum computing.
The information provided herein is for general guidance and informational purposes only, and the contents of this article should not be considered investment, business, legal or tax advice under any circumstances.
This article is from the WeChat public account: new research (ID: chuxinyanjiu), author: Yousef Fazea, compiled by: Tang Shi
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Key word: quantum computing
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Content: U.K. quantum computing startup Quantum Motion raises $50.5M

U.K. quantum computing company Quantum Motion has raised £42 million ($50.5 million) in an equity round of funding led by Bosch Ventures (RBVC), with participation from Porsche, the U.K. government's National Security Strategic Investment Fund (NSSIF), and a host of additional investors.

Quantum computing, for the uninitiated, builds on principles borrowed from quantum mechanics, with a focus on quantum bits (qubits) rather than atoms, promising to advance what's possible with computers by performing complex calculations in a fraction of the time. Use-cases may include accelerating new drug discoveries, or powering the vast amount of data processing required for AI applications.

"Quantum computers will think in totally different ways to computers today," Quantum Motion CEO James Palles-Dimmock explained to TechCrunch. "Problems that would take a supercomputer thousands of years to crack could be solved by a quantum computer in minutes. The earliest impact will be in areas related to materials science including energy materials, chemistry such as drug discovery, or optimization -- possibly stretching to logistics and transport."

Founded in 2017 by Professors John Morton and Simon Benjamin from UCL and Oxford University respectively, Quantum Motion is setting out to create "scalable quantum computers" through new quantum computing architectures that are compatible with established silicon processing.

As with normal computers, heat adversely impacts the qubits in quantum computing, meaning that quantum computers need to be kept very cold. Quantum Motion says it has designed integrated circuits that are capable of "generating, routing and processing signals at deep cryogenic temperatures," operating at just a few tenths of a degree above absolute zero.

"Our silicon-based quantum chips are typically a few millimetres across, and we expect that the cooling system required to operate the chip will have a form factor similar to a standard 19-inch server rack," Palles-Dimmock said. "Being able to show that our approach to quantum computing doesn't require data centres the size of football pitches, or vast CERN-type facilities, was one of the motivations behind our central London location."

Quantum Motion: working on dilution fridge Image Credits: Quantum Motion

Quantum leap

Quantum Motion's latest raise comes amidst a flurry of activity in the quantum computing space. In the past month alone we've seen French startup Pasqal raise €100 million, while Israel's Quantum Machines closed out its Series B round at $70 billion and Australia's Quantum Brilliance secured $18 million. Elsewhere over the past year, Finland's IQM, France's Alice&Bob, and U.K.-based Quantum Circuits have all raised sizeable chunks of VC cash.

Quantum Motion and its ilk are up against a host of competition in the big tech sphere too, including IBM which recently unveiled its 433 qubit Osprey quantum computer, while Google gained a new quantum computing sibling last year after Alphabet spun out Sandbox AQ as a standalone company, going on to raise $500 million in funding just last week. Elsewhere, other tech juggernauts such as Microsoft and Intel are also investing heavily in quantum.

So, what can Quantum Motion and its upstart brethren bring to the mix that the deep-pocketed behemoths can't?

"Compared to the big tech companies, our advantage is that we are agile, focused on a single goal and have a team that is comparable with the best in the world," Palles-Dimmock said. "We have a highly skilled team across multiple disciplines including IC (instrumentation and control) engineering, quantum theory, hardware and software, and deep relationships with world leading universities that helps us seek out that talent."

Quantum Motion CEO James Palles-Dimmock with co-founders Prof. John Morton (CTO), and Prof. Simon Benjamin (CSO) Image Credits: Quantum Motion

Quantum Motion had previously raised around $24 million in equity and grand funding, and with its fresh cash injection, the company said that it plans to accelerate its development of silicon quantum processors through forging "deeper ties" with manufacturers. Indeed, the startup's strategic investors including Bosch and Porsche provide some clue as to the impact that Quantum Motion is looking to have on industry -- quantum computing could transform battery technology as we know it, allowing scientists and researchers to simulate batteries to better understand what is going on at a molecular level to optimize materials and thus improve energy density.

But the true possibilities are effectively endless, and it's difficult to conceive just how transformative quantum computing will prove.

"Just like computing in the early 1960s, it was hard to predict just what amazing things computing would lead to, and yet it has revolutionised our society," Palles-Dimmock said. "It was only when computers got into the hands of people everywhere that we got really creative and pushed the boundaries of what computers can do. Quantum computing will be similar, we know that it will be transformative in areas like drug discovery, battery technology and more, but we won’t know just how transformative they’ll become until we get there."

It's worth noting that while quantum computing is advancing at breakneck speed, it's still in its relative infancy, and the fruits of all the current R&D labor we're seeing across the board may still be some years off.

"Many quantum computing companies exist today and they are all in R&D mode," Palles-Dimmock said. "Investors know it will take time. It may be the end of the decade before we have really impactful quantum computers. This raise enables us to strengthen our relationship with manufacturing partners and demonstrate prototypes that can scale to millions of qubits."

Quantum Motion's latest cash injection included contributions from Octopus Ventures, Oxford Sciences Enterprises, British Patient Capital, Inkef, Parkwalk Advisors, and IP Group.

What are the challenges in quantum computing research?

What are the challenges in quantum computing research?

India is investing ₹6,003 crore in the National Quantum Mission despite challenges in quantum computing.

Title:

Content: Satyam Priyadarshy

Rajesh Mehta

Governments, venture capitalists, and private companies have invested billions of dollars in quantum computing in the last 10 years. Recently, at the Puzzle X conference held in Barcelona, it was evident that Europe is preparing to take on the leadership role to push the boundaries of quantum computing ecosystem. So, what is quantum computing?

Bits to Qubits

In simple words, quantum computing combines the fields of quantum mechanics and computer science. It moves us beyond Bits to Qubits. In traditional computer science, the information is stored and manipulated using bits that have two discrete states, 0 and 1, while in the quantum computing world, Qubits can represent both states at the same time, thus allowing for a high degree of parallelism, enabling by phenomena of “interference, superposition, and entanglement.”

Such parallelism allows quantum computers to tackle computational challenges that become a limiting factor for traditional computers.

Wide applications

Many companies in the quantum computing field are engaged in solving complex problems that could significantly impact the fields of drug development, material design, energy transition, finance, security, and defense.

All nations must address various aspects of the quantum computing ecosystem sooner than later due to China’s quantum computing activities.

The National Quantum Mission (NQM) was approved by Prime Minister Narendra Modi, on April 19, 2023.

With a budget of ₹6,003 crore over eight years, it aims to create, develop, and nurture the quantum technology ecosystem in the country.

The goal of the mission is to develop intermediate-scale quantum computers with 50-1,000 physical qubits in various platforms like superconducting and photonic technology. Satellite-based secure quantum communications between ground stations over a range of 2,000 km within India, long-distance secure quantum communications with other countries, inter-city quantum key distribution over 2,000 km, as well as multi-node quantum networks with quantum memories, are among the other deliverables. The technology is expected to break ground in communications, cryptography, intelligence, fossil fuel exploration, space research, and drug design.

As we step into 2024, an increased set of activities to solve complex challenges will be addressed by combining the tools of Artificial Intelligence and Quantum computing.

Priyadarshy is a pioneer in the fields of Quantum Mechanics, Data Science, Big Data and Emerging Technologies; Mehta is an International Consultant in the field of Market Entry, Innovation and Public Policy

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The mission aims to develop quantum computers and create a quantum ecosystem.

What are important areas in quantum research?

Developing quantum computing is a complex process requiring significant investment and collaboration.

Title:

Content: FINANCIAL TIMES
Quantum computing.
Is it time to get serious about it?
The old joke that quantum computing is the technology of the future — and will remain so forever — is no longer funny.
The engineering challenges of building a quantum computer powerful enough to fulfill its extraordinary theoretical promise remain enormous.
But early prototypes are evolving rapidly and the future may come faster than expected.
Every data-rich body should start thinking about how to move into a quantum world, as the U.S. National Institute of Standards and Technology is set to release encryption standards for the post-quantum era next year.
Quantum computers, which exploit the frightening behavior of subatomic physics, operate differently from conventional computers, expanding the range of possible solutions to many problems.
Some companies are exploring the potential of hybrid methods, combining the current capabilities of primitive quantum computers and their classical counterparts to improve port logistics, airline schedules, grocery delivery, and TV ad programming, for example.
Alan Baratz, CEO of DWave, an American quantum computing company, said: “Quantum has become real today.
But serious threats to quantum computing may emerge faster than its potential.
Security experts warn of the dangers of QDay, when a quantum computer may be able to hack into the RSA encryption system, widely used by tech companies, banks and governments in their data.
Earlier this month, the heads of the intelligence agency Five Eyes, which included the US, UK, Canada, Australia and New Zealand, warned of the dangers of China ’ s activities in quantum computing, artificial intelligence and synthetic biology.
Ken McCallum, director general of MI5, said: “If you ’ re close to the latest technologies, you may not be interested in geopolitics, but geopolitics is interested in you. ”
Since 1994, when mathematician Peter Shore wrote an algorithm that could run on an as-yet-uninvented quantum computer to hack the RSA system, security experts have been concerned about the world ’ s digital secrets.
It may take another decade (or more) before we have a quantum computer stable enough to run Shore ’ s algorithm, but we can never be sure when that day will come.
However, this is one of those rare technological fields, when the solution anticipates the problem.
Since 2016, the US National Institute has been ordering and evaluating anti-cryptography.
Four approved standards will be released next year, which will then be replaced by other agencies around the world.
According to Ilham Kashefi, chief scientist at the UK ’ s National Centre for Quantum Computing, it would be “very worrying ” if any organisation held sensitive data that was not really prepared for the threat posed by QDay.
Speaking at the Ceftaid summit earlier this month, she said: “You should be very concerned. ”
One concern, Kashefi said, is that adversaries can harness data today and decrypt it later when quantum computers have evolved.
That may not matter if the old data hacked are daily supermarket sales records.
But it will be different if the data contains health records or sensitive personal information.
Switching from one crypto system to another across thousands of organizations will take years to implement.
That ’ s why internet experts are urging companies to start thinking now about how to adopt the NIST crypto standard.
The transition to a quantum resistant world would be a win-win for some cybersecurity companies.
That ’ s what BQ Shield, an Oxford-based startup that recently held an expert conference to examine whether NIST ’ s mathematical drafts can work in the “bad ” hardware world.
The good news, according to Ali al-Qafarani, founder of BQ Shield, is that it can.
He said to me, “Is there a perfect security solution at all?
He never exists.
"But my personal view is that these schemes are very secure, powerful and very difficult to penetrate, whether on a classical or quantum computer."
When I spoke with Shore earlier this year, he predicted that the quantum computer needed to run his algorithm might still be several decades away.
But in the meantime, he composed a poem to explain the quantum puzzle:
"If the computers you are building are quantitative,
Spies from all factions will want it.
All our symbols will fail.
They'll read all of our e-mails.
Until we get quantum cryptography, and scare them with its power. ”
Publish it.
MORE FROM FINANCIAL TIMES

Quantum computing has vast potential applications and is expected to evolve rapidly.

Title:

Content: The quantum leap: Quantum computing breakthroughs to watch

The classical computer has been the bedrock of computing for over 50 years. That’s going to change soon. quantum computing, which was once a concept limited to fringe scientific papers, is now becoming a mainstream topic.

We’re seeing significant breakthroughs in the headlines which are stoking the flames of conjecture. The truth is, that this technology will bring with it much more than hype and opportunities to breathe life into sci-fi creations. In this article, we’re going to dive into some of the milestones of quantum computing, future goals and, of course, the challenges that we still have to overcome.

The Quantum Paradigm

Classical computers began as room-sized machines. Computer scientists from the 1950s would be completely flummoxed to see the powerful gaming or AI training rigs of today. That said, computers process information using bits -- either a 0 or a 1. quantum computers break the mold by using quantum bits, or qubits. They’re built upon the principles of quantum mechanics, which allow us to conceptualize that a qubit can exist in a state of 0, 1, or both at the same time (this is known as superposition in quantum theory).

As a result of this state, quantum computers are able to measure vast quantities of possibilities at the same time and exponentially increase their computing power compared to classical machines.

Significant Milestones in Quantum Computing

As with everything groundbreaking, quantum computing has been the subject of much fanfare, which has caused tangible advancements to slip through the cracks. This includes:

The Rise of Quantum Supremacy

The idea of "quantum supremacy" once seemed rather farfetched. That was until Google demonstrated with its Sycamore processor exactly what quantum machines could do. Sycamore was given a calculation that would have taken a classical computer 10,000 years to complete. It completed it in 200 seconds. quantum supremacy is now a modern reality and not just a hypothesis.

Innovations in Quantum Error-Correction

The inherently fragile nature of qubits means they're prone to errors from even the smallest environmental interference. Over the years, researchers have been laser-focused on tackling this problem, giving rise to various quantum error-correction protocols. Among the most prominent are the "surface code" and "cat code" methods, which deploy specialized qubit arrangements and extra layers of computational checks to detect and correct errors in real time.

Development of Quantum Algorithms

Unsurprisingly, with the growth of quantum processors has come an increase in quantum algorithms being developed. Algorithms like Shor's (for integer factorization) and Grover's (for database searching) have proven quantum computing's superiority over classical methods.

quantum algorithms have more granular applications as well, especially for devs and larger organizations. They could drastically reduce the time it takes to render documents in a React PDF viewer, particularly those that are large or contain complex elements like high-resolution images or intricate designs. Imagine one day sending petabytes of multimedia files without delay.

In a fraction of a second, teams could edit, compare, and merge files, all on their native platform, without having to wait until all the documentation is ready for analysis or sending.

This is just a microcosm of how massive quality-of-life (QoL) improvements from quantum computing will actually be. Aside from document readers, artists will also be able to render entire films in a matter of seconds, as there will be no resolution too high to be processed instantly. The same goes for 4K video calls without lags, VR gaming, and so much more.

Quantum Potential

What makes quantum computers so powerful is their ability to solve the problems that have simply been out of reach for classical machines, This includes:

  • Cryptography: Certain mathematical problems (like factorizing large prime numbers) are difficult for modern classical computers. quantum computers, however, are able to solve these problems much faster due to their parallel processing capabilities. Modern digital security rests on the assumption that these problems prevent computers from solving them quickly, and so quantum computing will be incredibly disruptive to modern cryptography. "Revolutionary" won’t even begin to define it.
  • Drug Discovery and Material Science: Another difficult task for classical computers is simulating and understanding complex molecular structures. With quantum computing, molecular simulations will be turbo-charged and lead to important breakthroughs in medicine and material science at a blistering pace.
  • Optimization Challenges: Be it traffic management, financial modeling, or supply chain optimization, problems involving multiple variables and constraints could benefit immensely from quantum computing's prowess, resulting in more efficient and optimal solutions.
  • Machine Learning and Big Data: Data is the new oil. And companies everywhere are drilling. quantum computers can process and analyze vast datasets swiftly and can send machine learning models to the stratosphere. This will lead to more accurate predictions and insights.

Navigating Quantum Challenges

The dream of a large-scale, fault-tolerant quantum computer is still just a dream for now, due to certain technical hurdles.

The first is maintaining the quantum state of qubits over extended durations. The term for this is ‘quantum coherence’, and it is not an easy task. External disturbances such as cosmic rays or nearby electronic devices can disrupt its state and prevent long computations.

Of course, one must also ponder about scalability. Scaling from a few qubits to thousands or even millions which are needed for more complex tasks will need further innovations in quantum error correction (and system architecture for that matter).

For now, computer scientists have gotten around this by using extremely low temperatures to maintain qubit stability, but this is not something companies or organizations without vast resources can accomplish.

Another aspect to consider is the software ecosystem. quantum computers will need their own kind of software, along with unique programming languages and tools. This will take years and possibly decades of collaboration between physicists, computer scientists, and industry stakeholders before a barebones system is achieved. QApplications in Diverse Domains

quantum computing is going to massively change many sectors. That said, some stand to benefit sooner than the rest:

  • Financial Modeling: The financial sector is an obvious winner when it comes to having more computing power -- the sector is already using AI to its advantage. quantum algorithms will allow traders and analysts to evaluate vast numbers of scenarios extremely quickly, giving those companies with quantum machines an extraordinary advantage.
  • Climate Modeling: Predicting the Earth’s climate involves accounting for a ton of variables and how they interact with each other. quantum computers will allow more accurate climate models and better insights into climate change which will hopefully help us develop better strategies for mitigating it.
  • Logistics and Supply Chain: Efficient solutions to the traveling salesman problem -- a challenge that involves finding the shortest possible route through multiple cities -- could revolutionize logistics, saving time and reducing costs for businesses worldwide.

The Interplay Between Quantum and Classical Systems

While you may think that quantum computers will eventually replace classical computers, the truth is the future more likely has them together in a symbiotic relationship. This is because quantum machines will be used for tasks they’re better at, namely more advanced computational needs, while classical computers will be kept for more routine tasks and for user interfaces. An example of this already exists in cloud-based quantum computing platforms -- where users can send a certain task to a quantum machine and receive the result through their own classical machine.

Looking Towards the Quantum Future

The next decade promises a slew of breakthroughs. Today’s quantum computers are being compared to the classical computers of the 1950s, which is probably accurate considering they’re still in their nascent stage of development and haven’t even begun realizing their full potential.

quantum computing promises an increase in computation power for sure, but it offers much more than that. It promises a massive shift across many industries -- from healthcare to finance, energy and transportation. We live in exciting times as we stand on the precipice of a new era in technology, one that previously only belonged to the pages of science fiction.

Image credit: plotplot/Shutterstock

Lee Li is a project manager and B2B copywriter with a decade of experience in the Chinese fintech startup space as a PM for TaoBao, MeitTuan, and DouYin (now TikTok).

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What advantages do quantum computers have over conventional computers?

extremely fast calculations
extremely complex calculations

What fields can quantum computers advance?

What advantages do quantum computers have over conventional computers?

extremely fast calculations
extremely complex calculations

What fields can quantum computers advance?

IBM, Google, and Microsoft are leading quantum computing development and are expected to dominate the market.

What countries and blocs are leading in developing quantum computing?

The cloud-based quantum computing market is expected to reach USD 6,289.8 Million by 2030, growing at a 35.5% CAGR.

Title:

Content: Cloud-based Quantum Computing Market projected to reach USD 6,289.8 Million by 2030, growing at a CAGR of 35.5% during the forecast period of 2023-2030 - says MarketDigits in its latest study

The Global Cloud-based Quantum Computing Market was valued USD 750 Million in 2023 and projected to reach USD 6,289.8 Million by 2030, growing at a CAGR of 35.5% during the forecast period of 2023-2030

Richmond, Jan. 02, 2024 (GLOBE NEWSWIRE) -- According to a research report "Cloud-based Quantum Computing Market, by Offering (Service, Software), Technology (Trapped Ions, Quantum Annealing, Superconducting Qubits, Other Technologies, Others), Application (Encryption, Optimization, Sampling, Simulation), Industry Vertical (BFSI, Healthcare and Pharmaceuticals, Aerospace and Defense, Research and Academia, Manufacturing, Transportation and Logistics, Others), and Region - Global Forecast to 2030.

Global Cloud-based Quantum Computing Market Report Scope:

Report Details
Market size value in 2023 USD 750 Million
Market size value in 2030 USD 6,289.8 Million
CAGR (2023-2030) 35.5%
Forecast Period 2023–2030
Historic Data 2019
Forecast Units Value (USD Million/USD Billion)
Segments Covered Offering, Technology, Application, End User and Region
Geographies Covered North America, Europe, Asia Pacific, and RoW

  • Accenture

  • AWS (Amazon Web Services)
Sample of Companies Covered
  • Baidu

  • Cambridge Quantum Computing

  • D-Wave Quantum Inc.

Download the Sample - https://www.marketdigits.com/request/sample/1108

TOC Covers in Depth & Breath on Cloud-based Quantum Computing Market
170 - Market Data Tables
65 - List of Figures
225 – Pages

The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.

Market Overview

Cloud-based quantum computing enables remote access to quantum processors and algorithms, revolutionizing computation for diverse applications via online platforms. The cloud-based quantum computing market is experiencing unprecedented growth as organizations seek to harness the immense computational power of quantum processors through convenient and scalable cloud services. This market evolution marks a paradigm shift in computing capabilities, with leading tech companies investing heavily in quantum research and development. Quantum computing leverages the principles of superposition and entanglement to perform complex calculations at speeds unattainable by classical computers. Cloud-based offerings democratize access to quantum resources, allowing businesses to explore and experiment without the need for extensive on-premises infrastructure. As a result, a diverse range of industries, including finance, healthcare, and logistics, are exploring quantum solutions for optimization, simulation, and machine learning applications. The market's trajectory is driven by a convergence of technological advancements, increased investments, and a growing ecosystem of quantum developers and users, positioning cloud-based quantum computing as a transformative force in the future of information processing.

Major Vendors In The Global Cloud-Based Quantum Computing Market:

  • Accenture
  • Amazon Web Services (AWS)
  • Baidu
  • Cambridge Quantum Computing
  • D-Wave Quantum Inc.
  • D-Wave Systems
  • Fujitsu
  • Google
  • Honeywell
  • Huawei Technologies Co.
  • IBM
  • 1QBIT
  • Microsoft
  • QC Ware
  • Riverlane
  • Rigetti Computing
  • T-Systems International GmbH
  • Zapata Computing

Request for Discount @ https://www.marketdigits.com/request/discount/1108

Increasing demand for advanced computational capabilities

The escalating demand for advanced computational capabilities stands as a pivotal driver propelling the cloud-based quantum computing market into prominence. As traditional computing architectures face limitations in solving complex problems, organizations across various sectors are turning to quantum computing to address challenges that were once deemed insurmountable. Cloud-based quantum computing offers a scalable and accessible solution, allowing businesses to harness the extraordinary processing power of quantum processors without the need for significant on-premises infrastructure investments. This surge in demand is fueled by the recognition that quantum algorithms have the potential to outperform classical counterparts in areas such as optimization, cryptography, and machine learning. The advent of cloud-based services democratizes access to quantum resources, empowering a diverse range of industries to explore novel solutions and stay at the forefront of technological innovation in the pursuit of solving complex problems more efficiently and effectively.

Market Dynamics

Drivers:

  • Increasing demand for advanced computational capabilities
  • Growing demand for faster data operations, secure data transfer, and communications

Opportunities:

  • Recent advances in cloud-based quantum computing
  • Growing adoption of quantum computing solutions across several verticals

Recent advances in cloud-based quantum computing

Recent advances in cloud-based quantum computing present a significant opportunity for the quantum computing market, opening new frontiers in computation and problem-solving. The integration of cutting-edge technologies into cloud services has enhanced the accessibility and usability of quantum computing resources. Cloud providers are actively investing in infrastructure, algorithms, and developer tools, making quantum computing capabilities more user-friendly and scalable. This progress is fostering a conducive environment for experimentation and innovation, attracting a broader spectrum of users from diverse industries. As cloud-based quantum computing platforms evolve, they offer businesses the chance to explore and harness the potential of quantum algorithms without the need for substantial in-house expertise or infrastructure. This opportunity not only accelerates the adoption of quantum technologies but also democratizes access, empowering organizations to leverage the transformative power of quantum computing to solve complex problems and gain a competitive edge in the rapidly advancing digital landscape.

The market for Cloud-based Quantum Computing is dominated by North America.

North America stands as the dominant force in the Cloud-based Quantum Computing market, with the United States and Canada playing pivotal roles. The region's leadership is attributed to the robust presence of major quantum computing players, significant research and development initiatives, and a burgeoning tech ecosystem. In the United States, companies like IBM, Google, and Rigetti Computing have spearheaded quantum advancements, while Canada boasts prominent players like D-Wave. The strategic collaboration between academia, government, and industry in North America has positioned the region as a global hub for quantum computing innovation, solidifying its preeminence in driving the growth and development of cloud-based quantum computing solutions.

The research and academia Segment is Anticipated to Hold the Largest Market Share During the Forecast Period

Based on Industry Vertical the Cloud-based Quantum Computing Market is segmented into BFSI, Healthcare and Pharmaceuticals, Aerospace and Defense, Research and Academia, Manufacturing, Transportation and Logistics, Others. The research and academia segment is poised to maintain its dominance, holding the largest market size in the Cloud-based Quantum Computing sector throughout the forecast period. This prominence can be attributed to the active involvement of research institutions and academic entities in advancing quantum technologies. These stakeholders play a crucial role in driving innovation, developing quantum algorithms, and educating the workforce. Cloud-based platforms offer an accessible environment for researchers and students to experiment with quantum computing, fostering collaboration and knowledge exchange. As a result, the research and academia segment continues to lead, shaping the trajectory of Cloud-based Quantum Computing's market growth.

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North America, led by the US, is expected to dominate the cloud-based quantum computing market.

What countries and blocs are leading in developing quantum computing?

The research and academia segment will hold the largest market share.