According to TechSci Research report, India Cloud Based Quantum Computing Market - By Region, Competition, Forecast, and Opportunities, 2019-2029, the India cloud based quantum computing market is expected to register robust growth during the forecast period.
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The quantum computing market in India, which is based on cloud technology, is set to experience an enormous surge in growth. This is due to a combination of factors, including the country's thriving tech industry, government support, and the potential of quantum computing to revolutionize various sectors. With its exceptional computing capabilities, quantum computing has gained the attention of researchers, corporations, and governments all over the world. As India establishes itself as a leading technology hub, the cloud-based quantum computing market offers a prime opportunity to drive economic growth and foster innovation.
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Quantum computing harnesses the principles of quantum mechanics to perform complex calculations and solve problems that are intractable for classical computers. It offers immense potential in areas such as optimization, simulation, cryptography, drug discovery, and machine learning. However, building and maintaining quantum hardware is a complex and resource-intensive task. Cloud-based quantum computing platforms provide a solution by offering remote access to quantum processors, software development tools, and a collaborative environment for researchers and developers Cloud-based quantum computing brings up new opportunities for Indian industry. Finance, healthcare, logistics, and materials research can benefit from quantum computing's power to solve optimization issues, model quantum systems, improve machine learning techniques, and drive innovation. The potential influence on these businesses is enormous, which will lead to an increase in the usage of cloud-based quantum computing systems.
Quantum computing uses quantum mechanics concepts to do sophisticated calculations and solve issues that are unsolvable for classical computers. It has enormous potential in domains such as optimization, simulation, cryptography, drug discovery, and machine learning. However, developing and maintaining quantum gear is a time-consuming and resource-intensive endeavor. Cloud-based quantum computing platforms offer a solution by providing remote access to quantum processors, software development tools, and a collaborative environment for researchers and developers.
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The India cloud based quantum computing market is divided into component, deployment, applications, and end-user. Based on component, the market is divided into hardware, software, and services. Based on deployment, the market is divided into on-premises and cloud. Based on application, the market is divided into machine learning, optimization, biomedical simulations, financial services, electronic material discovery and others. Based on end-user, the market is divided into IT & telecom, BFSI, manufacturing, healthcare, energy & utilities, and others.
Key market players in the India cloud based quantum computing market include:
- Tata Consultancy Services
- Infosys Limited
- Wipro Limited
- Zenith InfoTech Limited
- CipherCloud
- Amazon Web Services
- Ctrls Datacenters Limited
- SAP India Pvt. Ltd
- Alphabet Inc
- Microsoft Azure
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“Collaboration is key to the growth of the quantum computing ecosystem in India. By bringing academia, industry, and government together, the India cloud based quantum computing market can tap into the collective expertise of these stakeholders. This collaboration expedites research efforts and facilitates the development of practical quantum applications that can transform industries and solve complex problems beyond the scope of classical computing. The India cloud-based quantum computing market opens up new possibilities for Indian businesses, enabling them to harness quantum technologies and drive innovation across various sectors, including finance, healthcare, and logistics. This can prove to be highly profitable for the nation, especially during the COVID-19 period, and is projected to continue growing during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
India Cloud Based Quantum Computing Market by Component (Hardware, Software, and Services), By Deployment (On-premises, Cloud), By Application (Machine Learning, Optimization, Biomedical Simulations, Financial Services, Electronic material discovery, and Others), By End-User (IT & Telecom, BFSI, Manufacturing, Healthcare, Energy & utilities, and Others) and By Region, Competition, Forecast, and Opportunities, 2029 has evaluated the future growth potential of the India cloud based quantum computing market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India cloud based quantum computing market.
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