Quantum computing

• On quantum computing, the scale of the actual quantum computers has been rapidly evolving (e.g., IBM recently announced to debut quantum computer with 1,121 quantum bits (qubits) in 2023).
• Tech giant IBM plans to deliver a quantum computer with a 1,121-qubit processor, inside a 10-foot tall super-fridge that will be online and capable of delivering a Quantum Advantage, by 2023.
• IBM revealed a 65 qubit quantum computer and has set itself the goal to develop a 1000 qubit quantum computer by the end of 2023.
• The global market for Quantum Computing is projected to reach US$513.3 million by the year 2027, trailing a CAGR of 24.2% over the analysis period 2020 through 2027.
• China is maintaining its modernization pace and envisions gaining competitive advantages in AI, quantum computing, and bioengineering by 2030.
• The market for global quantum computing was valued at $89.35 million in 2016 and is projected to reach $948.82 million by 2025, projected to grow at a compound annual growth rate of 30.02% from 2017 to 2025.
• Global Quantum Computing Market was valued US$ 198.31 Mn in 2019 and is expected to reach US$ 890.5 Mn by 2027, at CAGR of 28.44% during forecast.
• 2020 projects to be a year where the competition to become the leader in quantum computing will intensify.
• 72% of surveyed security experts worldwide believe quantum computing will have a negative impact on data security within the next five years.
• The looming threat of quantum computing - some say we could see 100,000 x faster quantum computers as soon as 2025 - represents another compelling reason to focus on improving your crypto-agility.
• Increasing investments by government bodies related to enterprise quantum computing are expected to support the growth of the market in the coming years.
• Current quantum computers have about 70-100 qubits for noisy superconduction qubits and will soon have 5600 for D-Wave Quantum annealing systems.
• Industrial Growth of Quantum Computing Market 2019-2025: The latest report added by Reports Monitor demonstrates that the global Quantum Computing market will showcase a steady CAGR in the coming years.
• The UK government expects quantum computing to provide £4 billion of economic opportunities globally by 2024, while in the coming decades productivity gains resulting from quantum computing are expected to surpass over £341 billion globally.
• Total enterprise quantum computing market revenue will reach $9.1 billion annually by 2030, up from $111.6 million in 2018.
• The market for quantum computing is projected to reach $64.98 billion by 2030 from just $507.1 million in 2019, growing at a compound annual growth rate of 56.0% during the forecast period (2020-2030).
• The Australian quantum computing market has the potential to create over 10,000 jobs and generate $2.5bn in annual revenues by 2040.
• The market for quantum computing is expected to grow at a 23.2% CAGR to $9.1 billion by 2030.
• With the profitable demonstration of quantum hegemony, quantum computing will usher in a brand new spherical of explosive progress in 2020.
• With the successful demonstration of quantum hegemony, quantum computing will usher in a new round of explosive growth in 2020.
• The global Quantum Computing market is expected to reach approximately USD 1.65 Billion by 2026 growing at a CAGR of 34.6% from 2020-2026.
• By 2023, 90% of enterprise quantum computing investments will engage quantum consulting organisations to help shape problems that can leverage quantum algorithms.
• The company Q-CTRL offered insights into the world of quantum computing, disagreeing with IBM that quantum computing will be mainstream in five years as it will take much longer.

Last updated: 17 January 2021