Posted By Uma Rajagopal
Posted on November 3, 2021
Relatively a new technology, quantum computing (QC) software has carved a niche for itself as it uncomplicates vast data to deduce solutions that are error-free and accurate. Making the impossible possible for professionals across industries has given the global quantum computer software market a significant boost. Quantum software is capable of reducing laboratory costs and minimizing human effort in the near future. The demand for using quantum software is expected to surge in varied industries as it can aid projections, trading, and dodging potential problems by studying patterns.
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Research and Development to Offer Initial Push to Global Quantum Computing Software Market
The upcoming transition to electric vehicles could present a lucrative opportunity to the global quantum computing software market. It stands a perfect chance at accelerating the research and development of EVs, states Fairfield Market Research. Product development will remain a primary driver for the global market between the forecast years of 2021 and 2025. Quantum computing and current high-performance computing (HPC) will be used in combination as a hybrid model by end users to solve problems in novel ways.
Life Sciences Industry Welcome Quantum Computing Software to Understand Complex Problems
The adoption of quantum computing software in the life sciences segment comes as the promise of making the unsolvable solvable holds high regard. With the outbreak of the COVID-19 pandemic, the demand for quantum computing software is expected to shoot up as disruptive changes to the global economy have become a sudden reality. Fairfield Market Research states application of quantum computing software will allow enhancing drug discovery, creating precision medicine therapies by linking genomes and outcomes, and improving protein folding predictions.
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North America to Remain Frontrunner in Adoption of Quantum Computing Software
The significant rise of the quantum computing software market in North America will be attributable to the presence of important players. The keen interest shown by Canadian and the U.S. governments in the adoption of quantum computing software across aerospace and defense, transportation, pharmaceutical, cybersecurity, BFSI, and chemical industries to solve complex scenarios is expected to boost the market.
Asia Pacific too presents a golden opportunity to the quantum computing software market as the industries are growing at a phenomenal pace. Analysts at Fairfield Market Research state that it could drastically change the automotive industry as companies offer computational improvements to boost capabilities. Fuel cell and material durability and route optimization along with traffic-system management are some of the adoption areas in the automotive industry of Asia Pacific that could boost the regional market.
Some of the key players operating in the global quantum computing software market are IBM Corporation, Cambridge Quantum Computing, Fujitsu Limited, Riverlane, Zapata Computing, Quantum Circuits, Inc., Quantica Computacao, XANADU Quantum Technologies, VeriQloud, Quantastica, Microsoft Corporation, Amazon Web Services, Inc., D-Wave Systems Inc, Rigetti Computing, Google LLC, Honeywell International Inc., QC Ware, 1QBit, Huawei Technologies Co., Ltd., and Accenture plc.
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