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The Current Quantum Computing Supremacy Race Is Projected To Propel The Quantum Computing Market

Added: (Fri Sep 20 2019)

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A recent Quantum Computing Technologies & Global Market – 2018-2024 report reveals that we are in the midst of a U.S. and China “Quantum Computing Arms Race” one that will result in groundbreaking computing power, enabling disruptive new quantum computing technologies. Those will have the potential to change long-held dynamics in commerce, intelligence, military affairs and strategic balance of power. In the near future, the realization of quantum computing will lead to a revolutionary computing power, with wide-reaching transformational applications.

The Quantum Computing Market & Technologies – 2018-2024 report estimates that the global quantum computing 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.

According to the 2-volume, 529-page, 242 figures & tables landmark report, this race is projected to propel the Quantum Computing Technologies & Global Market to $10.7 billion by 2024, out of which $8.45 billion stemming from product sales and services and $2.25 billion from Gov. RDT&E programs and funding.

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.

Eighteen of the world’s biggest corporations and dozens of government agencies are working on quantum computing or partnering with startups such as D-Wave. Furthermore, On May 3, 2017, Xinhua, the official press agency of the People’s Republic of China, surprised the Quantum Computing community by announcing that “Chinese scientists have built the world’s first quantum computing machine that goes far beyond the early classical — or conventional — computers, paving the way to the ultimate realization of quantum computing.”

In a way that was unheard of five years ago, quantum physicists are now partnering with corporate tech giants, to develop quantum computing as the foundation of a second information age. Eighteen of the world’s largest corporations (e.g., Lockheed Martin, IBM, Google, NEC, HP, Toshiba, Intel, Mitsubishi, Alibaba, Microsoft, SK telecom, BAH, KPN, Airbus, Raytheon, NTT, Fujitsu, and BT) and dozens of government agencies are working on quantum computing or partnering with startups such as D-Wave. 

Near-term expectations for quantum computing range from solving optimization problems, big data analytics and artificial intelligence through quantum computing services in the cloud.

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