Market Research Report
Quantum Computing in Oil and Gas - Thematic Research
|Published by||GlobalData||Product code||1009985|
|Published||Content info||50 Pages
Delivery time: 1-2 business days
|Quantum Computing in Oil and Gas - Thematic Research|
|Published: May 31, 2021||Content info: 50 Pages||
Quantum computers are machines that use the properties of quantum physics to store data and perform computations. Use cases stretch from improved weather forecasting to cracking the codes used to encrypt all internet messaging. The company (or government) that owns the first at-scale quantum computer will be powerful indeed. Quantum computers are proving extremely difficult to build, and fully-fledged commercial computers are not expected for 10, 20, or even 30 years. However, within the next five to seven years, intermediate quantum computers are likely to become available that can offer a quantum advantage over classical computers in certain optimization applications across, for example, space warfare, logistics, drug discovery, and options trading.
Oil majors ExxonMobil, Total, Shell, and BP, are among the few industry participants to venture into quantum computing. Although these companies intend to use the technology to solve diverse business problems, quantum chemistry is emerging as the common focus area of research in the initial phase.