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IQT Research Projects Revenues from Quantum Cloud Services to Reach Almost $850 Million by 2026

By IQT News posted 18 May 2021

(IQT.Research) According to a new report from IQT Research, the worldwide market for Quantum Cloud Services will near $850 million in 2026. Quantum Clouds are versions of standard cloud offerings versioned for the emerging quantum computing environment. Today, quantum clouds are the most popular way of accessing quantum computers and this is likely to remain the case for some years to come.
More details on the report, Opportunities for Cloud Access to Quantum Computers: 2021-2026 can be found at: https://www.insidequantumtechnology.com/product/opportunities-for-cloud-access-to-quantum-computers-2021-2026/. At this link it is also possible to request an excerpt from this report.

About the Report
In this report, we examine the scenarios for evolution of quantum clouds including what users have to expect from them in terms of speeds, latency and price. We also analyze in some depth how we expect quantum clouds to be branded by the cloud providers. The report includes detailed forecasts of cloud access revenues with breakouts by end user and type of cloud provider. Finally, this report discusses the technical and marketing strategies for the leading quantum computer makers and cloud providers.
The quantum cloud business began in 2016 when IBM connected a small quantum computer to the cloud, giving people their first chance to create and run small programs on a quantum computer online. Since then, other firms that are become commercially involved with quantum clouds include: Alibaba, Amazon, D-Wave, Google, IBM, Microsoft, QC Ware, QuTech, Rahko, Rigetti, Strangeworks, Xanadu, Zapata

From the report:

  • The two alternatives to quantum clouds are (1) in-house quantum computers and (2) access over a Quantum Internet (a network that actually carries qubits). However, right now these are not practical alternatives for most users, which ensures that the quantum cloud concept will endure for many years. Most users cannot afford an in-house quantum computer. And networks that carry qubits have “research network” status and aren’t yet suited for regular commercial usage
  • Quantum cloud providers can attract value-added revenues by adding a variety of bells and whistles to their offerings. These include latency guarantees, built-in developer environments, problem inspectors, various connectivity options, simple applications, network management, quality of service guarantees and pricing options
  • Pricing policies for quantum clouds have yet to mature. Pricing per hour of quantum processor time is currently the dominant pricing strategy and is broadly acceptable to users. Pricing services based on time consumption is extremely intuitive for clients. There are other possibilities too including special subscription plans for different types and sizes of users. Yet another possibility is “per operation” pricing strategies are common throughout cloud providers, which is why it comes as no surprise, which is attractive in the R&D world where customers know very well exactly which circuits they need to run and how much time they have to run them.

About Inside Quantum Technology

Inside Quantum Technology is the first industry analyst firm to be entirely dedicated to meeting the strategic information and analysis needs of the emerging quantum technology sector. In addition to publishing reports on critical business opportunities in quantum computing, quantum cryptography and quantum sensing, Inside Quantum Technology runs a popular daily newsfeed (Quantum Technology News) on business-related happenings in quantum technology.

This free daily news service can be subscribed to at https://www.insidequantumtechnology.com/news.

Inside Quantum Technology also organizes major conferences on quantum technology

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Lawrence Gasman
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