How big is the Global Quantum Computing in the Oil and Gas market?

According to MarkNtel Advisors study, The Global Quantum Computing in the Oil and Gas Market size is projected to grow at a CAGR of around 30.5% during the forecast period, i.e., 2024-30.

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Global Quantum Computing in the Oil and Gas Industry Trend:

Integration of Quantum Computing as Part of an Integrated Suite of Technologies – Major oil & gas companies across the globe are aiming to leverage advanced computing technologies to harness emerging technologies such as hybrid cloud, AI, and quantum computing. This is being done to address objectives such as sustainability, decarbonization, etc., in major areas of oil & gas, like supply chain, security, and material science. For this, oil & gas majors are allying with technology giants to harness the combined expertise of leading energy/oil & gas companies with the technological innovation capabilities of tech firms. For instance,

In 2022, tech company IBM and oil major Saudi Aramco announced preliminary plans for a strategic collaboration to establish an Innovation Hub in Riyadh, Saudi Arabia.

Moreover, as quantum computing technology matures and becomes more accessible, its integration with other digital technologies will become a key differentiator in the oil & gas industry, eventually instigating Quantum Computing in the Oil & Gas Industry Market during the forecast period.

Leading Companies in the Global Quantum Computing in the Oil and Gas market:

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Global Quantum Computing in the Oil and Gas Market Segmentation:

By Offerings

By Deployment

By Application

In the oil & gas industry, the usage of quantum computing is expected to see its most significant growth in optimization applications, particularly for upstream operations.

Regional/ Countries Insight:

The Middle East & Africa to outperform & seize the largest share of the Quantum Computing in the Oil and Gas Industry.

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About MarkNtel Advisors:

MarkNtel Advisors is a leading consulting, data analytics, and market research company that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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