Cloud-based Quantum Computing Market Research Report - Global Forecast till 2032

Cloud-based Quantum Computing Market Research Report By Technology (Superconducting Qubits, Trapped Ions), By Application (Encryption, Simulation and Modelling, Optimization, Sampling), By Region (North America, Europe, Asia-Pacific, Middle East & Africa, South America)- Market Forecast Till 2032

ID: MRFR/ICT/10702-HCR | 128 Pages | Author: Shubham Munde | August 2023         

Cloud-based Quantum Computing Market Overview


The Cloud-based Quantum Computing Market was valued at USD 337.63 million in 2022 and is poised for significant growth. It is projected to expand from USD 378.82 million in 2023 to USD 4,704.16 million by 2032, representing a robust compound annual growth rate (CAGR) of 32.3% throughout the forecast period (2023 - 2032).


The market's growth is attributed to the extraordinary capabilities of cloud-based quantum computing, enabling the efficient analysis of vast datasets and the generation of actionable insights. Additionally, it empowers the creation of tailored solutions and recommendations, thereby enhancing customer experiences and engagement. These factors, among others, are driving the remarkable growth of the Cloud-based Quantum Computing Market.


FIGURE 1: CLOUD-BASED QUANTUM COMPUTING MARKET SIZE, 2019-2032 (USD MILLION)


CLOUD-BASED QUANTUM COMPUTING MARKET SIZE, 2019-2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Cloud-based Quantum Computing Market Drivers




  • Increasing demand for advanced computational capabilities




The increasing demand for advanced computational capabilities is a key driver for the adoption of cloud-based quantum computing solutions. This demand arises from various industries seeking more powerful and efficient computing methods to tackle complex problems. Cloud-based quantum computing offers the ability to process and analyze vast datasets and simulate intricate scenarios, making it highly attractive for applications across different sectors.


Industries such as finance, healthcare, materials science, and logistics require advanced computational power for tasks like optimization, cryptography, and modeling. Cloud-based quantum computing provides the potential to revolutionize these processes by offering unparalleled computational capabilities. This technology enables businesses to explore new possibilities, improve decision-making, and gain a competitive edge in their respective markets.


The cloud-based nature of quantum computing also enhances accessibility, allowing organizations to harness quantum power without the need for extensive in-house infrastructure. This accessibility, combined with the ability to solve complex problems, is driving the adoption of cloud-based quantum computing, making it a significant driver for market growth.


Cloud-based Quantum Computing Market Segment Insights


Global Cloud-based Quantum Computing Technology Insights


The segmentation by technology in the Cloud-based Quantum Computing Market includes two key categories: Superconducting Qubits and Trapped Ions. These technologies represent the core foundations of cloud-based quantum computing solutions, each with its unique advantages and applications. In 2022, the Superconducting Qubits technology segment dominated the Cloud-based Quantum Computing Market and is expected to maintain its position as the primary technology choice in the forecast period. Superconducting Qubits offer high-speed quantum operations and scalability, making them ideal for various applications, from cryptography to optimization.


Trapped Ions, while also promising, are projected to see substantial growth in adoption over the forecast period. These ions provide precise control over quantum states, ensuring stable and error-resistant quantum operations. Their suitability for tasks requiring high accuracy, such as encryption and simulation, positions Trapped Ions as a valuable component in the cloud-based quantum computing ecosystem. Both Superconducting Qubits and Trapped Ions contribute to the diverse landscape of cloud-based quantum computing, offering distinct advantages to cater to various industry needs. Their combined presence drives innovation and propels the market toward new horizons in computation and problem-solving.


October 2021: Amazon Web Services (AWS) has unveiled a new facility at the California Institute of Technology (Caltech) aimed at advancing quantum computing. The new Caltech facility has set the ambitious goal of building a "fault-tolerant" quantum computer, addressing challenges such as creating more and better qubits, the basic units of quantum information.


Cloud-based Quantum Computing Application Insights


The segmentation by application in the Cloud-based Quantum Computing Market includes several key categories: Encryption, Simulation and Modelling, Optimization, and Sampling. These applications represent the diverse range of uses for cloud-based quantum computing, each with its unique significance and potential impact.


In 2022, the Encryption application segment stood out as a prominent driver of market growth and is expected to continue as a rapidly expanding segment during the forecast period from 2023 to 2032. Encryption plays a critical role in securing sensitive data and communications in an increasingly digital world. Cloud-based quantum computing offers the potential to revolutionize encryption techniques by providing advanced computational capabilities that can crack existing encryption methods or create ultra-secure quantum-resistant encryption.


Simulation and Modelling is another pivotal application segment within the cloud-based quantum computing domain. Quantum computers excel at simulating complex quantum systems and behaviors. This application finds utility in various fields, including materials science, chemistry, and physics, allowing researchers and organizations to model quantum phenomena with unprecedented accuracy and speed.


Optimization is a key area where cloud-based quantum computing demonstrates its prowess. It enables the optimization of processes and solutions in areas such as logistics, supply chain management, and finance, where complex decision-making can benefit from quantum algorithms to find optimal solutions efficiently.


Sampling, the fourth application segment, holds significant potential for various industries. Quantum computing's unique sampling capabilities can be applied in fields like drug discovery, where simulating molecular structures and interactions is vital for accelerating the drug development process. These application segments collectively showcase the versatility and transformative potential of cloud-based quantum computing, as they address critical challenges and unlock new opportunities across a range of industries.


Cloud-based Quantum Computing Regional Insights


By region, study provides market insights across various regions, including North America, Europe, Asia-Pacific, Middle East & Africa, and South America.


In 2022, North America held a prominent position in the Cloud-based Quantum Computing Market, accounting for a market size of USD 132.58 million with a substantial market share of approximately 35%. The region is anticipated to maintain this strong position and exhibit significant growth with a remarkable CAGR during the study period. North America, particularly the United States, boasts a well-established technology ecosystem that fosters innovation and research.


The presence of renowned AI research institutions, leading technology companies, and substantial venture capital investments in the United States further accelerates the development and widespread adoption of cloud-based quantum computing solutions. Financial institutions in this region have access to extensive customer data, owing to the size and complexity of the market. Cloud-based quantum computing's ability to efficiently process and analyze this vast amount of data drives its adoption, enhancing customer experiences, enabling precise risk assessment, and strengthening fraud detection capabilities.


Additionally, the major countries studied in this market report include The United States, Canada, Germany, France, the United Kingdom, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil. These countries represent key players in the global landscape of cloud-based quantum computing adoption, each contributing to the market's growth and innovation in their unique ways.


Figure 3: CLOUD-BASED QUANTUM COMPUTING MARKET SHARE BY REGION, 2022 & 2032 (USD Million)


CLOUD-BASED QUANTUM COMPUTING MARKET SHARE BY REGION, 2022 & 2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe is the second-largest contributor to the Cloud-based Quantum Computing Market, driven by significant fintech growth in its financial markets. Cloud-based quantum computing, particularly Generative AI, enhances customer experiences, personalizes services, and strengthens fraud prevention for European fintech companies. The region's interconnected financial markets demand advanced risk assessment and fraud detection capabilities, making cloud-based quantum computing's real-time analytics and cross-channel analysis invaluable for identifying suspicious activities across borders. Germany leads in adoption, boasting the largest market share, while the United Kingdom's cloud-based quantum computing market experiences rapid growth. These developments underscore Europe's commitment to leveraging quantum computing's potential across various sectors.


Asia-Pacific plays a significant role in the Cloud-based Quantum Computing Market as the third-largest contributor, and its influence is set to grow. Rapid technological adoption and a diverse consumer base fuel this expansion. Countries such as China, Japan, and Singapore demonstrate a keenness to embrace emerging technologies, with Generative AI finding applications in algorithmic trading, risk management, and customer engagement. The region boasts a vast and varied customer base, each with unique preferences and needs. Generative AI's capacity to personalize services proves vital in addressing these diverse demands effectively. Within Asia-Pacific, the China Cloud-based Quantum Computing Market holds the largest market share, while the Indian market exhibits the fastest growth. These trends underscore Asia-Pacific's pivotal role in driving the adoption and advancement of cloud-based quantum computing solutions.


The Middle East & Africa region is experiencing rapid growth in the Cloud-based Quantum Computing Market driven by digital transformation initiatives and an increasing demand for enhanced fraud prevention measures. In the BFSI sector, this region is undergoing significant digital transformation efforts. Generative AI plays a pivotal role in this transformation by modernizing processes, improving customer engagement, and enhancing operational efficiency. The Middle East & Africa face specific challenges related to fraud detection. Generative AI is being employed to detect irregular activities and combat fraud patterns unique to this market. As digital technologies continue to reshape the region's business landscape, cloud-based quantum computing solutions are poised to contribute significantly to its growth and innovation.


South America is witnessing significant growth in the Cloud-based Quantum Computing Market, propelled by its expanding fintech landscape and the surge in digital payment adoption. Countries like Brazil and Mexico are at the forefront of this fintech growth. Generative AI is empowering fintech companies to innovate financial products, enhance customer experiences, and fortify fraud detection measures. The region's increasing reliance on digital payments further drives the use of Generative AI for transaction data analysis, improving fraud prevention and customer security in South America.


Cloud-based Quantum Computing Key Market Players & Competitive Insights


Major players in the Cloud-based Quantum Computing Market are making substantial investments in research and development to expand their product portfolios, contributing to the market's robust growth. These market leaders are implementing various strategic initiatives to expand their global presence. Key developments include new product launches, mergers and acquisitions, contractual agreements, increased investments, and collaborations with other organizations. Given the competitive and evolving market landscape, competitors in the Cloud-based Quantum Computing industry are focusing on cost-effective offerings to thrive and expand. Manufacturing locally to reduce operating costs is a primary business strategy adopted by industry manufacturers to benefit customers and expand market share. In recent years, the Technology segment has witnessed significant advancements in the Cloud-based Quantum Computing industry. Key market players, including IBM, Microsoft, Google, and others, are driving innovation in cloud-based quantum computing solutions, pushing the boundaries of computational capabilities.


IBM, a major player in the Cloud-based Quantum Computing Market, is known for its pioneering work in quantum computing research and development. Microsoft, with its Azure Quantum offering, is actively contributing to the growth of cloud-based quantum computing. Google, too, has made significant strides in the field with its quantum supremacy claims, highlighting the industry's dynamic nature.


Key Companies in the Cloud-based Quantum Computing Market include



  • IBM

  • Microsoft

  • Google

  • AWS (Amazon Web Services)

  • Baidu

  • Rigetti Computing

  • D-Wave Quantum Inc.

  • T-Systems International GmbH

  • Huawei Technologies Co.

  • Accenture

  • Cambridge Quantum Computing

  • Fujitsu

  • 1QBIT

  • Riverlane

  • D-Wave Systems

  • Zapata Computing

  • Honeywell

  • QC Ware


Cloud-based Quantum Computing Industry Developments


July 2021: D-Wave Systems has introduced its Leap quantum cloud service in India, providing real-time access to commercial quantum computers and Quantum Application Environment (QAE). Users can access Leap's latest version, which includes a Hybrid Solver Service, Integrated Developer Environment (IDE), and Problem Inspector. Additionally, D-Wave's next-generation 5000+ qubits system, Advantage, will be accessible via Leap later this year, along with free developer plans and educational resources.


September 2020: China’s Baidu Inc. unveiled a new cloud-based quantum computing platform called Quantum Leaf that is designed to program, model, and perform quantum tasks. Baidu is one of a range of large technology companies that are rushing to create quantum computing, relying on quantum-mechanical processes such as superposition and entanglement to conduct computing. Technology hopes to usher in a new generation in computing and up-to-date fields such as artificial intelligence, cryptography, and physics.


Cloud-based Quantum Computing Market Segmentation


Cloud-based Quantum Computing Technology Outlook (USD Million, 2019-2032)



  • Superconducting Qubits

  • Trapped Ions


Cloud-based Quantum Computing Application Outlook (USD Million, 2019-2032)



  • Encryption

  • Simulation and modelling

  • Optimization

  • Sampling


Cloud-based Quantum Computing Regional Outlook (USD Million, 2019-2032)



  • North America

    • US

    • Canada



  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Rest of Asia-Pacific



  • Middle East & Africa

    • South Africa

    • South America

    • Brazil





Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 337.65 million
Market Size 2023 USD 378.82 million
Market Size 2032 USD 4,704.12 million
Compound Annual Growth Rate (CAGR) 聽32.3% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018 - 2022
Market Forecast Units Value (USD Million)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Organization Type, Application, and Region
Geographies Covered North America, Europe, Asia-Pacific Pacific, Middle East & Africa, and South America
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled IBM, Microsoft, Google, AWS (Amazon Web Services), Baidu, Rigetti Computing, D-Wave Quantum Inc., T-Systems International GmbH, Huawei Technologies Co., Accenture, Cambridge Quantum Computing, Fujitsu, 1QBIT, Riverlane, D-Wave Systems, Zapata Computing, Honeywell, QC Ware.
Key Market Opportunities 路聽聽聽聽聽聽 Expanding applications in cryptography and optimization 路聽聽聽聽聽聽 Collaborations and partnerships to accelerate development.
Key Market Dynamics 路聽聽聽聽聽聽 Increasing demand for advanced computational capabilities. 路聽聽聽聽聽聽 Growing investment in quantum technology research. 路聽聽聽聽聽聽 Potential for quantum computing to revolutionize various industries.


Frequently Asked Questions (FAQ) :

The Cloud-based Quantum Computing Market size was valued at USD 337.63 million in 2022.

The global market is expected to grow at a CAGR of 32.3% during the forecast period, 2023 to 2032.

North America had the largest share in the Cloud-based Quantum Computing Market.

The key players in the market include IBM, Microsoft, Google, AWS (Amazon Web Services), Baidu, Rigetti Computing, D-Wave Quantum Inc., and others.

Superconducting qubits dominated the market in 2022.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players鈥 financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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