US Cloud-based Quantum Computing Market Size, Share & Trends Analysis Report By Solution, By Technology (Superconducting Qubits, Trapped Ions, Quantum Annealing, and Others), By Application, By Vertical, and Forecast, 2023 - 2030

The US Cloud-based Quantum Computing Market size is expected to reach $610.20 Million by 2030, rising at a market growth of 18.4% CAGR during the forecast period.

The cloud-based quantum computing market in the United States has witnessed significant growth in recent years. One of the key drivers propelling the growth of the cloud-based quantum computing market in the U.S. is the rising demand for more powerful computational capabilities. Traditional computers must improve the processing of massive amounts of data and solve complex optimization problems efficiently. Quantum computers leverage the principles of quantum mechanics to perform computations at a scale and speed that surpass classical computers.

Moreover, the accessibility offered by cloud-based quantum computing market has democratized access to quantum resources for researchers, developers, and businesses of all sizes. Cloud providers offer quantum computing services through their platforms, allowing users to remotely access quantum processors, simulators, and development tools. According to the Federal Trade Commission, cloud computing is a central part of the economy, with companies projected to spend $576 billion on cloud computing in 2023 in the U.S. This accessibility has lowered the barrier to entry for experimenting with quantum algorithms and applications, spurring innovation and collaboration across various industries.

Furthermore, cloud-based quantum computing platforms enable experimentation and innovation without significant upfront investment. Researchers, startups, and enterprises access quantum computing resources on a pay-per-use or subscription basis, reducing the financial risk of exploring quantum algorithms and applications. This accessibility fosters a vibrant ecosystem of innovation.

However, the COVID-19 pandemic has also impacted the cloud-based quantum computing market in the U.S. While the pandemic initially disrupted supply chains and slowed down some research activities, it highlighted the importance of advanced computing technologies in addressing global challenges. The need for accelerated drug discovery, vaccine development, and complex simulations to understand the virus's spread has underscored the importance of quantum computing in solving critical problems efficiently.

Market Trends

Rising adoption in the automotive industry

The automotive industry in the United States is experiencing a significant shift towards adopting cloud-based quantum computing technologies. One of the primary drivers behind the rising adoption of cloud-based quantum computing in the automotive industry is the ever-increasing demand for innovation and efficiency. According to Select USA, international automakers produced 5 million vehicles in the United States in 2020. As U.S. automakers strive to stay ahead in the competitive industry, they are turning to advanced technologies to enhance their product development processes. 

Moreover, cloud-based quantum computing platforms provide automakers with access to vast computational resources without significant upfront investments in hardware infrastructure. This scalability and flexibility allow automotive companies of all sizes to leverage the power of quantum computing for tasks such as materials science research, aerodynamics analysis, and predictive maintenance, thereby accelerating innovation cycles. By leveraging quantum algorithms for optimization and risk analysis, U.S. manufacturers enhance inventory management, streamline logistics, and mitigate disruptions, ultimately leading to cost savings and improved operational efficiency.

Furthermore, pursuing autonomous driving technology presents another compelling use case for cloud-based quantum computing in the automotive sector. Quantum algorithms process vast amounts of data in real time, enabling autonomous vehicles to make split-second decisions with unprecedented accuracy and reliability. Thus, the automotive industry in the United States is embracing cloud-based quantum computing to drive innovation, efficiency, and advancement in product development, operations, and autonomous driving technology.

Increasing demand for trapped ions

The demand for trapped ions in cloud-based quantum computing has steadily risen in the United States. One of the key drivers behind the increasing demand is the growing recognition of the transformative power of quantum computing. Industries ranging from finance and pharmaceuticals to cybersecurity and logistics are exploring quantum computing solutions to tackle complex optimization problems, simulate molecular structures, and enhance encryption protocols. As a result, there is a pressing need for more powerful and accessible quantum computing resources in the U.S., driving the demand for trapped ion-based systems.

Furthermore, trapped ions exhibit properties that make them well-suited for cloud-based quantum computing platforms. Their long coherence times enable the execution of complex quantum algorithms with minimal error rates, which is essential for achieving practical quantum advantage. The emergence of cloud-based quantum computing services in the U.S. has democratized access to quantum resources, allowing researchers, businesses, and developers to harness the power of quantum computing without the need for substantial upfront investments in hardware and infrastructure.

In addition to demand from commercial entities, government agencies and academic institutions in the U.S. are also driving the adoption of trapped ions in cloud-based quantum computing. Research initiatives aimed at advancing quantum computing capabilities and exploring potential applications are fueling the demand for accessible quantum resources, further accelerating the growth of the industry. Hence, the convergence of increasing demand from diverse industries, alongside the democratization of quantum resources through cloud-based platforms, is propelling the adoption of trapped ions in quantum computing across the United States.

Competition Analysis

The cloud-based quantum computing market in the United States is a burgeoning sector characterized by intense innovation and competition among companies striving to harness the potential of quantum technology. One prominent player in the cloud-based quantum computing market is IBM, a multinational technology company known for its advancements in quantum computing. IBM offers its quantum computing capabilities through the IBM Quantum Experience platform, which provides cloud-based access to quantum processors and simulators. With a growing ecosystem of users, developers, and partners, IBM is at the forefront of driving quantum research and applications through its cloud-based offerings.

Another key player is Google, which has made significant strides in quantum computing through its Quantum AI division. Google's quantum computing efforts are centered around its Quantum Computing Service, which aims to deliver accessible and scalable quantum computing resources via the cloud. With breakthroughs such as achieving quantum supremacy with its Sycamore processor, Google continues to push the boundaries of what's possible in quantum computing.

Microsoft is also a major player in the U.S. cloud-based quantum computing market with its Azure Quantum platform. Azure Quantum provides developers and researchers access to quantum hardware, software, and solutions through Microsoft's cloud infrastructure. By integrating quantum computing with classical computing resources, Microsoft aims to empower organizations to tackle complex problems more efficiently and effectively.

In addition to these tech giants, startups like Rigetti Computing are making significant contributions to the U.S. quantum computing landscape. Rigetti offers cloud-based access to its quantum processors and development tools through its Quantum Cloud Services platform. With a focus on quantum hardware and software development, Rigetti is driving innovation in quantum computing and collaborating with partners across industries to explore new applications.

D-Wave Systems, another notable player, specializes in quantum annealing technology and offers cloud-based access to its quantum processing units (QPUs) through the Leap quantum cloud service. The company's quantum annealing approach is well-suited for optimization and machine learning tasks, attracting customers from various sectors seeking to leverage quantum computing for real-world applications.

Other companies, such as IonQ and Xanadu, are also making waves in the cloud-based U.S. quantum computing market with their unique approaches to quantum hardware and software development. IonQ focuses on trapped-ion quantum computing and offers cloud-based access to its quantum processors through partnerships with leading cloud providers. Xanadu, on the other hand, specializes in photonic quantum computing and provides access to its quantum photonic processors via the cloud. As quantum computing continues to mature, fueled by advancements in hardware, software, and algorithms, the potential for transformative impact across industries is vast, making it an exciting time for stakeholders in the quantum computing ecosystem.

List of Key Companies Profiled

• Google LLC (Alphabet Inc.)
• Microsoft Corporation
• IBM Corporation
• Amazon Web Services, Inc. (Amazon.com, Inc.)
• Baidu, Inc.
• Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
• SpinQ Technology Co., Ltd.
• CERN

US Cloud-based Quantum Computing Market Report Segmentation

By Solution

• Software
• Services

By Technology

• Superconducting Qubits
• Trapped Ions
• Quantum Annealing
• Others

By Application

• Optimization
• Simulation & Modelling
• Sampling
• Others

By Vertical

• BFSI
• Healthcare
• Automotive
• Energy & Power
• Aerospace & Defense
• Government
• Chemical
• Others

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 US Cloud-based Quantum Computing Market, by Solution
1.4.2 US Cloud-based Quantum Computing Market, by Technology
1.4.3 US Cloud-based Quantum Computing Market, by Application
1.4.4 US Cloud-based Quantum Computing Market, by Vertical
1.5 Methodology for the research

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
2.2.3 Market Opportunities
2.2.4 Market Challenges
2.2.5 Market Trends
2.3 Porter’s Five Forces Analysis

Chapter 3. Strategies Deployed in Cloud-based Quantum Computing Market

Chapter 4. US Cloud-based Quantum Computing Market
4.1 US Cloud-based Quantum Computing Market by Solution
4.2 US Cloud-based Quantum Computing Market by Technology
4.3 US Cloud-based Quantum Computing Market by Application
4.4 US Cloud-based Quantum Computing Market by Vertical

Chapter 5. Company Profiles – Global Leaders
5.1 Google LLC (Alphabet Inc.)
5.1.1 Company Overview
5.1.2 Financial Analysis
5.1.3 Segmental and Regional Analysis
5.1.4 Research & Development Expense
5.1.5 SWOT Analysis
5.2 Microsoft Corporation
5.2.1 Company Overview
5.2.2 Financial Analysis
5.2.3 Segmental and Regional Analysis
5.2.4 Research & Development Expenses
5.2.5 Recent strategies and developments:
5.2.5.1 Partnerships, Collaborations, and Agreements:
5.2.6 SWOT Analysis
5.3 IBM Corporation
5.3.1 Company Overview
5.3.2 Financial Analysis
5.3.3 Regional & Segmental Analysis
5.3.4 Research & Development Expenses
5.3.5 Recent strategies and developments:
5.3.5.1 Partnerships, Collaborations, and Agreements:
5.3.5.2 Geographical Expansions:
5.3.6 SWOT Analysis
5.4 Amazon Web Services, Inc. (Amazon.com, Inc.)
5.4.1 Company Overview
5.4.2 Financial Analysis
5.4.3 Segmental Analysis
5.4.4 Recent strategies and developments:
5.4.4.1 Geographical Expansions:
5.4.5 SWOT Analysis
5.5 Baidu, Inc.
5.5.1 Company Overview
5.5.2 Financial Analysis
5.5.3 Segmental Analysis
5.5.4 Research & Development Expenses
5.5.5 SWOT Analysis
5.6 Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
5.6.1 Company Overview
5.6.2 Financial Analysis
5.6.3 Segmental and Regional Analysis
5.6.4 Research & Development Expense
5.6.5 SWOT Analysis
5.7 SpinQ Technology Co., Ltd.
5.7.1 Company Overview
5.8 CERN
5.8.1 Company Overview
5.8.2 SWOT Analysis

TABLE 1 US Cloud-based Quantum Computing Market, 2019 - 2022, USD Million
TABLE 2 US Cloud-based Quantum Computing Market, 2023 - 2030, USD Million
TABLE 3 US Cloud-based Quantum Computing Market by Solution, 2019 - 2022, USD Million
TABLE 4 US Cloud-based Quantum Computing Market by Solution, 2023 - 2030, USD Million
TABLE 5 US Cloud-based Quantum Computing Market by Technology, 2019 - 2022, USD Million
TABLE 6 US Cloud-based Quantum Computing Market by Technology, 2023 - 2030, USD Million
TABLE 7 US Cloud-based Quantum Computing Market by Application, 2019 - 2022, USD Million
TABLE 8 US Cloud-based Quantum Computing Market by Application, 2023 - 2030, USD Million
TABLE 9 US Cloud-based Quantum Computing Market by Vertical, 2019 - 2022, USD Million
TABLE 10 US Cloud-based Quantum Computing Market by Vertical, 2023 - 2030, USD Million
TABLE 11 Key Information – Google LLC
TABLE 12 Key Information – Microsoft Corporation
TABLE 13 Key Information – IBM Corporation
TABLE 14 Key Information – Amazon Web Services, Inc.
TABLE 15 Key Information – Baidu, Inc.
TABLE 16 Key Information – Huawei Technologies Co., Ltd.
TABLE 17 Key Information –SpinQ Technology Co., Ltd.
TABLE 18 Key Information – CERN

List of Figures
FIG 1 Methodology for the research
FIG 2 US Cloud-based Quantum Computing Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting Cloud-based Quantum Computing Market
FIG 4 Porter’s Five Forces Analysis - Cloud-based Quantum Computing Market
FIG 5 US Cloud-based Quantum Computing Market share by Solution, 2022
FIG 6 US Cloud-based Quantum Computing Market share by Solution, 2030
FIG 7 US Cloud-based Quantum Computing Market by Solution, 2019 - 2030, USD Million
FIG 8 US Cloud-based Quantum Computing Market share by Technology, 2022
FIG 9 US Cloud-based Quantum Computing Market share by Technology, 2030
FIG 10 US Cloud-based Quantum Computing Market by Technology, 2019 - 2030, USD Million
FIG 11 US Cloud-based Quantum Computing Market share by Application, 2022
FIG 12 US Cloud-based Quantum Computing Market share by Application, 2030
FIG 13 US Cloud-based Quantum Computing Market by Application, 2019 - 2030, USD Million
FIG 14 US Cloud-based Quantum Computing Market share by Vertical, 2022
FIG 15 US Cloud-based Quantum Computing Market share by Vertical, 2030
FIG 16 US Cloud-based Quantum Computing Market by Vertical, 2019 - 2030, USD Million
FIG 17 SWOT Analysis: Google LLC
FIG 18 SWOT Analysis: Microsoft Corporation
FIG 19 Swot Analysis: IBM Corporation
FIG 20 SWOT analysis: Amazon Web Services, Inc.
FIG 21 SWOT Analysis: Baidu, Inc.
FIG 22 SWOT Analysis: Huawei Technologies Co., Ltd.
FIG 23 SWOT Analysis: CERN