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HSRCQuantum Computing Market & Technologies – 2018-2024

Quantum Computing Market & Technologies - 2018-2024

2024 Market: Products & Services $8.45B. Government-Funded R&D $2.25B

  • January 2018 Edition
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Quantum Computing Technologies & Global Market - 2017-2024
Global Quantum Computing Market Share [%] by Region – 2024

According to the “Quantum Computing Market & Technologies – 2018-2024”report, the global market* will grow at a CAGR of 24.6% throughout 2018-2024. During 2017 Quantum Computing technologies performance has increased at an impressive rate; we forecast that 2018-2019 will experience a surge of breakthroughs.

We are in the midst of a “Quantum Computing Supremacy Race”, one that will result in groundbreaking computing power that surpasses the performance of digital supercomputers. The quantum computing technologies have the potential to change long-held dynamics in commerce, intelligence, military affairs and strategic balance of power. If you have been paying attention to the news on quantum computing and the evolution of industrial and national efforts towards realizing a scalable, fault-tolerant quantum computer that can tackle problems, unmanageable to current supercomputing capabilities, then you know that something big is stirring throughout the quantum world. In a way that was unheard of five years ago, quantum physicists are now partnering with corporate tech giants, to develop quantum computing capabilities and technologies as the foundation of a second information age. Advances in quantum computer design, fault-tolerant algorithms and new fabrication technologies are now transforming this “holy grail” technology into a realistic program poised to surpass traditional computation in some applications. With these new developments, the key question that companies are asking is not whether there will be a quantum computer, but who will build it and benefit from it.

Realizing quantum computing capability demands that hardware efforts would be augmented by the development of quantum software to obtain optimized quantum algorithms able to solve application problems of interest.

Quantum Computing Technologies & Global Market - 2017-2024

Due to economic interest and the “decline of Moore’s law” of computational scaling, eighteen of the world’s biggest corporations (see image below) and dozens of government agencies are working on quantum processor technologies and/or quantum software or partnering with the quantum industry startups like D-Wave. Their ambition reflects a broader transition, taking place at start-ups and academic research labs alike: to move from pure science towards engineering.

 

Quantum Computing Technologies & Global Market - 2017-2024

Quantum Computing Race Corporations

 

Near-term expectations for quantum computing range from solving optimization problems, quantum-encrypted communications, artificial intelligence, smart manufacturing & logistics and smart retail, to quantum computing services in the cloud and molecular structure research.

 

Quantum Computing Technologies & Global Market - 2017-2024

Quantum Computing Will Transform Almost Every Aspect of our Technology, Science, Economy & Life
(Sources – World Economic Forum, HSRC)

 

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