Unlocking the Multi-Million-Dollar Opportunities in Quantum Computing

(IN BRIEF) A new report by IDTechEx, “Quantum Computing Market 2025-2045: Technology, Trends, Players, Forecasts,” projects the quantum computing market to exceed $10 billion by 2045, growing at a 30% CAGR. Quantum computing is gaining traction through increased investments, commercial contracts, and competition. Start-ups are scaling, while research institutions and supercomputing centers are heavily investing in the technology. However, challenges remain, such as reducing errors, scaling logical qubits, and addressing hardware uncertainties. Despite these hurdles, quantum computing promises transformative applications in finance, healthcare, sustainability, and security. The report evaluates leading technologies, such as superconducting, trapped-ion, and photonic approaches, and estimates hardware market potential, including the impact of cloud-based models. For detailed insights, visit IDTechEx’s website.

(PRESS RELEASE) CAMBRIDGE, 12-Dec-2024 — /EuropaWire/ — A new report from market intelligence firm IDTechEx, “Quantum Computing Market 2025-2045: Technology, Trends, Players, Forecasts”, forecasts the quantum computing market to surpass US$10B by 2045 with a CAGR of 30%.

Quantum computing is entering an era of more focused investment, more commercial contracts, and more competition. Many start-ups are transitioning to scale-ups with growing teams, ambitions, and revenue streams. As quantum computing capabilities are becoming more sophisticated, so has engagement from research institutions and supercomputing centers who are investing tens of millions for on-premises installations of the latest machines.

While breakthrough achievements abound across the ecosystem, the industry is still at a relatively early stage. Uncertainty remains as to which hardware approaches will be the most successful. Roadmaps suggest a turning point for advantage and value creation should only be a few years away, but significant technology challenges lie ahead to truly achieve the scalability and revolutionary promise of quantum computing.

The coming years will reveal which strategies hold most promise for a lasting quantum commercial advantage. This task will be an uphill balancing act between reducing errors and scaling up logical qubit numbers while also optimizing for resource efficiency. This is without even considering gate-speed, algorithm development, and many other crucial factors. Many players may falter, but market consolidation and talent convergence could clarify where quantum advantage will emerge first, boosting end-user confidence. Despite challenges, the transformative potential of quantum computing in finance, healthcare, sustainability, and security remains a powerful incentive for companies and nations alike.

IDTechEx’s market report covers the hardware that promises a revolutionary approach to solving the world’s unmet challenges. The quantum computing market is pitched as enabling exponentially faster drug discovery, battery chemistry development, multi-variable logistics, vehicle autonomy, accurate asset pricing, and much more. Drawing on extensive primary and secondary research, including interviews with companies and attendance at multiple conferences, this report provides an in-depth evaluation of the competing quantum computing technologies: superconducting, silicon-spin, photonic, trapped-ion, neutral-atom, topological, diamond-defect and annealing. The total addressable market for quantum computer use is converted to hardware sales over time, accounting for advancing capabilities and the cloud access business model. See www.IDTechEx.com/QuantumComputing for more information.

For the full portfolio of quantum technologies market research available from IDTechEx, please see www.IDTechEx.com/Research/Quantum.

About IDTechEx

IDTechEx provides trusted independent research on emerging technologies and their markets. For more information, contact research@IDTechEx.com or visit www.IDTechEx.com.

Media contact:

Charlotte Martin
Subscriptions Marketing Manager
press@IDTechEx.com
+44(0)1223 812300

Frequently Asked Questions (FAQs)

1. What does the new IDTechEx report on quantum computing focus on?

The report, titled “Quantum Computing Market 2025-2045: Technology, Trends, Players, Forecasts”, analyzes the growth trajectory of the quantum computing market, forecasting it to surpass $10 billion by 2045 with a 30% compound annual growth rate (CAGR). It also evaluates competing technologies, industry trends, and the potential applications of quantum computing.

2. What is driving the growth of the quantum computing market?

The market is being driven by increased investments, growing commercial contracts, and rising competition among start-ups and established players. Enhanced capabilities and engagement from research institutions and supercomputing centers also contribute to its growth.

3. What challenges does the quantum computing industry face?

Despite progress, the industry faces challenges such as reducing errors, scaling logical qubit numbers, and optimizing resource efficiency. Additional obstacles include uncertainty about the most successful hardware approaches and the need for advancements in gate-speed and algorithm development.

4. What are the transformative applications of quantum computing?

Quantum computing is expected to revolutionize areas such as:

• Drug discovery
• Battery chemistry development
• Multi-variable logistics optimization
• Autonomous vehicle development
• Accurate asset pricing
• Sustainability and climate modeling

5. What technologies are covered in the IDTechEx report?

The report evaluates various quantum computing technologies, including:

• Superconducting
• Silicon-spin
• Photonic
• Trapped-ion
• Neutral-atom
• Topological
• Diamond-defect
• Annealing

6. How does the report calculate the quantum computing market size?

The market size is derived by converting the total addressable market for quantum computing applications into projected hardware sales over time. The analysis also factors in the cloud access business model and advancing technological capabilities.

7. What role do research institutions and supercomputing centers play in the industry?

Research institutions and supercomputing centers are heavily investing in quantum computing by installing state-of-the-art machines and allocating significant resources, which further accelerates technological advancements and commercial applications.

8. Why is quantum computing seen as transformative?

Quantum computing has the potential to solve complex, real-world problems exponentially faster than traditional computers. This capability can lead to breakthroughs in finance, healthcare, sustainability, and security, making it a highly attractive field for companies and governments.

9. What does the future hold for the quantum computing industry?

The next few years will likely determine which strategies and technologies provide lasting commercial advantages. Market consolidation and talent convergence could pave the way for clearer leaders, instilling confidence among end-users.

10. Where can I find more information about the IDTechEx report?

You can find additional details about the report and the full portfolio of quantum technologies research on the IDTechEx website:

• Quantum Computing Report: www.IDTechEx.com/QuantumComputing
• Quantum Research Portfolio: www.IDTechEx.com/Research/Quantum

SOURCE: IDTechEx