Quantum computing services offer access to this revolutionary technology through the cloud. Quantum Computing is a concept based upon quantum physics. It offers tons of benefits on classical computing, which is not up to mark to solve problems of specific sizes and complexity.
The current computer we use in our daily lives stockpile data in binary form and use bits to process it, but quantum computers make use of qubits. Therefore, the complex problems that traditional computing methods can't solve are solved with technologies like quantum computing.
The respective market of quantum computing is still not fully-fledged. Still, the outlook is quite enchanting due to proliferating application of this technology in various sectors ranging from banking to space.
Accruing flows of riches in research and development and an increasing number of collaborations in the quantum computing field are factors set to drive the growth of the Quantum Computing-as-a-Service Market for the period.
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Key Market Players
Key Players in the Global Quantum Computing-as-a-Service Market consist of
• Microsoft,
• Google,
• D-Wave Systems,
• IBM,
• Rigetti Computing,
• Amazon,
• and Others.

Quantum Computing-as-a-Service Market Dynamics
Driver:
Augmenting collaborations and complex cash flows in research and development are Anticipated to Boost Product Demand.
The knowledge we have about quantum computing is still rudimentary and requires a lot of effort to grasp the same. Therefore, tech giants have broadened the flow of hard cash into research and development activities.
Moreover, their collaboration with research institutes and academic institutions revolutionizes the market.
According to a report, IBM spent around $6.33 billion on quantum research and engineering last year. Similarly, the company collaborated with Grainger College of Engineering (GCE) and allocated $200 million for a joint project in May 2021.
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Challenge:
The expensive nature and complications associated with quantum computers' handling are Anticipated to Hamper Market Growth.
Despite countless advantages, quantum computing has a few problems that can strangle the market's growth mentioned above. It is extortionate as compared to using traditional bit-based computing technology.
Moreover, as this technology deals with quantum information, it requires a highly stable environment because a bit of change can kill the process by hampering the functioning of the quantum computer.
On the other hand, the complex mechanism of quantum processes is another major challenge as it requires top-flight engineers to handle it.

Report Coverage and Scope
The report "Global Quantum Computing-as-a-Service Market" by Research Informatic covers an in-depth detailed analysis for the following segment, hidden under the scope.
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Quantum Computing-as-a-Service Market Segmentation
By Type
Web or cloud-based
On-Premise

By Application
Simulation
Machine learning
Optimization

By End-use
Space Sector
Defense Sector
Banking
Healthcare
Energy and power
Education
Chemicals
Others

By Geography
North America
Europe
APAC
RoW
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