The Latin America, Middle East and Africa Cloud-based Quantum Computing Market would witness market growth of 22.7% CAGR during the forecast period (2023-2030).
The Brazil market dominated the LAMEA Cloud-based Quantum Computing Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $46.6 million by 2030. The Argentina market is showcasing a CAGR of 23.2% during (2023 - 2030). Additionally, the UAE market would register a CAGR of 22.3% during (2023 - 2030).
The emergence of hybrid quantum-classical systems represents a significant trend in this technology. Integrating classical computing with quantum processors allows for more robust error correction, algorithm optimization, and improved performance. To capitalize on the respective merits of classical and quantum systems, cloud service providers are investigating hybrid strategies that provide a practical route to developing quantum applications.
Furthermore, integrating quantum machine learning frameworks into cloud-based computing platforms is a notable innovation. Frameworks like TensorFlow Quantum and Qiskit Machine Learning provide tools for developing quantum-enhanced machine learning models. This convergence of quantum computing and machine learning opens avenues for solving complex problems and exploring novel data analysis and pattern recognition applications.
This can optimize various healthcare operations in Brazil, including resource allocation, appointment scheduling, and supply chain management. As per the data from the International Trade Administration for Healthcare IT, the Ministry of Health announced investments of $83 million for digitalizing the public basic healthcare system from 2020 to 2028. With initiatives that will be periodically released and an eight-year timetable, the "Digital Strategy for Brazil" was developed to plan and promote adopting digital solutions and platforms in the public sector. The UBS Digital public initiative, which will fund $3 million for telemedicine solutions in outlying areas to deliver services in geriatrics, cardiology, dermatology, and endocrinology, was introduced in 2022. Thus, the growing healthcare sector in LAMEA will lead to enhanced demand for cloud-based computing in the region.
Free Valuable Insights: The Worldwide Cloud-based Quantum Computing Market is Projected to reach USD 2.1 Billion by 2030, at a CAGR of 19.9%
Based on Solution, the market is segmented into Software, and Services. Based on Technology, the market is segmented into Superconducting Qubits, Trapped Ions, Quantum Annealing, and Others. Based on Application, the market is segmented into Optimization, Simulation & Modelling, Sampling, and Others. Based on Vertical, the market is segmented into BFSI, Healthcare, Automotive, Energy & Power, Aerospace & Defense, Government, Chemical, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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