This report assesses the technology, organizations, R&D efforts, and potential solutions facilitated by quantum computing. The report provides global and regional forecasts as well as the outlook for quantum computing impact on infrastructure including hardware, software, applications, and services from 2023 to 2028. This includes the quantum computing market across major industry verticals.
Select Report Findings:
- The global market for QC hardware will exceed $9.1 billion by 2028
- Leading application areas are simulation, optimization, and sampling
- Managed services will reach $328 million by 2028 with CAGR of 47.3%
- Key professional services will be deployment, maintenance, and consulting
- QC based on superconducting (cooling) loops tech will reach $4.5B by 2028
- Fastest growing industry verticals will be government, energy, and transportation
Quantum Computing Industry Impact
The implications for data processing, communications, digital commerce and security, and the internet as a whole cannot be overstated as quantum computing is poised to radically transform the ICT sector. In addition, quantum computing will disrupt entire industries ranging from government and defense to logistics and manufacturing. No industry vertical will be immune to the potential impact of quantum computing. Every industry must pay great attention to technology developments, implementation, integration, and market impacts.
Quantum Computing Capabilities
While classical (non-quantum) computers make the modern digital world possible, there are many tasks that cannot be solved using conventional computational methods. This is because of limitations in processing power. For example, fourth-generation computers cannot perform multiple computations at one time with one processor.
Whereas parallel computing is achieved in classical computers via linking processors together, quantum computers may conduct multiple computations with a single processor. This is referred to as quantum parallelism and is a major difference between hyper-fast quantum computers and speed-limited classical computers.
Physical phenomena at the nanoscale indicate that a quantum computer is capable of computational feats that are orders of magnitude greater than conventional methods. This is due to the use of something referred to as a quantum bit (qubit), which may exist as a zero or one (as in classical computing) or may exist in two-states simultaneously (0 and 1 at the same time) due to the superposition principle of quantum physics. This enables greater processing power than the normal binary (zero only or one only) representation of data.
Quantum computing is anticipated to support many new and enhanced capabilities including:
- Ultra-Secure Data and Communications: Data is encrypted and also follow multiple paths through a phenomenon known as quantum teleportation
- Super-Dense Data and Communications: Significantly denser encoding will allow substantially more information to be sent from point A to point B
Quantum vs. Classical Computing
High-performance computing (HPC) refers to high-speed computation provided via a supercomputer or via parallel processing techniques such as leveraging clusters of computers to aggregate computing power. HPC is well-suited for applications that require high-performance data computation and analysis such as high-frequency trading, autonomous vehicles, genomics-based personalized medicine, computer-aided design, deep learning, and more.
While quantum computing does not utilize a faster clock-speed than classical computing, it is much faster than traditional computing infrastructure for solving certain problems as quantum computers can handle exponentially larger data sets. Accordingly, quantum computing is well-positioned to support certain industry verticals and solve specific problems such as cybersecurity and cryptocurrencies that rely upon prime factorings such as cryptology and blockchain-dependent solutions.
Quantum Computing Technology Development
While there is great promise for quantum computing, it remains largely in the research and development (R&D) stage as companies, universities, and research organizations seek to solve some of the practical problems for commercialization such as how to keep a qubit stable. The stability problem is due to molecules always being in motion, even if that motion is merely a small vibration. When qubits are disturbed, a condition referred to as decoherence occurs, rendering computing results unpredictable or even useless. One of the potential solutions is to use super-cooling methods such as cryogenics.
Some say there is a need to reach absolute zero (the temperature at which all molecular motion ceases), but that is a theoretical temperature that is practically impossible to reach and maintain, requiring enormous amounts of energy. There are some room-temperature quantum computers in R&D using photonic qubits, but nothing is yet scalable. Some experts say that if the qubit energy level is high enough, cryogenic type cooling is not a requirement.
Alternatives include ion trap quantum computing and other methods to achieve very cold super-cooled small-scale demonstration level computing platforms. There are additional issues involved with implementing and operating quantum computing. In terms of maintenance, quantum systems must be kept at subzero temperatures to keep the qubits stable, which creates trouble for people working with them and expensive, energy-consuming equipment to support. Some of those additional issues include:
- Qubits need to generate useful instructions to function on a large scale. Algorithms need to be applied for error correction to check and correct random qubit errors. These instruction sets use physical qubits to extend the viability of the information in the system.
- Algorithms need to be applied for error correction to check and correct random qubit errors. These instruction sets use physical qubits to extend the viability of the information in the system. Traditionally it takes multiple lasers to create each qubit. As qubits become more complex and problems require more complex solutions, it is necessary to scale up the number of qubits on a single chip.
- Additional issues arise with quantum computing due to quantum effects at the atomic level, such as interference between electrons. The implications are that Moore's law breaks down, which means one cannot simply assume computational innovation will grow at the same pace with quantum computers.
Once these issues are overcome, we anticipate that quantum computing will become more mainstream for solving specific types of problems. However, there will remain general-purpose computing problems that must be solved with classical computing. In fact, we anticipate development of solutions that involve quantum and classical CPUs on the same computing platform, which will be capable of solving combined general purpose and use case-specific computation problems.
These next-generation computing systems will provide the best of both worlds, which will be high-speed, general-purpose computing combined with use case-specific ultra-performance for certain tasks that will remain outside the range of binary computation for the foreseeable future.
Companies in Report:
Table of Contents
1.0. Executive Summary
2.0. Introduction
- 2.1. Understanding Quantum Computing
- 2.2. Quantum Computer Types
- 2.2.1. Quantum Annealer
- 2.2.2. Analog Quantum
- 2.2.3. Universal Quantum
- 2.3. Quantum Computing vs. Classical Computing
- 2.3.1. Will Quantum replace Classical Computing?
- 2.3.2. Physical Qubits vs. Logical Qubits
- 2.4. Quantum Computing Development Timeline
- 2.5. Quantum Computing Market Factors
- 2.6. Quantum Computing Development Progress
- 2.6.1. Increasing the Number of Qubits
- 2.6.2. Developing New Types of Qubits
- 2.7. Quantum Computing Patent Analysis
- 2.8. Quantum Computing Regulatory Analysis
- 2.9. Quantum Computing Disruption and Company Readiness
3.0. Technology and Market Analysis
- 3.1. Quantum Computing State of the Industry
- 3.2. Quantum Computing Technology Stack
- 3.3. Quantum Computing and Artificial Intelligence
- 3.4. Quantum Neurons
- 3.5. Quantum Computing and Big Data
- 3.6. Linear Optical Quantum Computing
- 3.7. Quantum Computing Business Model
- 3.8. Quantum Software Platform
- 3.9. Application Areas
- 3.10. Emerging Revenue Sectors
- 3.11. Quantum Computing Investment Analysis
- 3.12. Quantum Computing Initiatives by Country
- 3.12.1. USA
- 3.12.2. Canada
- 3.12.3. Mexico
- 3.12.4. Brazil
- 3.12.5. UK
- 3.12.6. France
- 3.12.7. Russia
- 3.12.8. Germany
- 3.12.9. Netherlands
- 3.12.10. Denmark
- 3.12.11. Sweden
- 3.12.12. Saudi Arabia
- 3.12.13. UAE
- 3.12.14. Qatar
- 3.12.15. Kuwait
- 3.12.16. Israel
- 3.12.17. Australia
- 3.12.18. China
- 3.12.19. Japan
- 3.12.20. India
- 3.12.21. Singapore
4.0. Quantum Computing Drivers and Challenges
- 4.1. Quantum Computing Market Dynamics
- 4.2. Quantum Computing Market Drivers
- 4.2.1. Growing Adoption in Aerospace and Defense Sectors
- 4.2.2. Growing investment of Governments
- 4.2.3. Emergence of Advance Applications
- 4.3. Quantum Computing Market Challenges
5.0. Quantum Computing Use Cases
- 5.1. Quantum Computing in Pharmaceuticals
- 5.2. Applying Quantum Technology to Financial Problems
- 5.3. Accelerate Autonomous Vehicles with Quantum AI
- 5.4. Car Manufacturers using Quantum Computing
- 5.5. Accelerating Advanced Computing for NASA Missions
6.0. Quantum Computing Value Chain Analysis
- 6.1. Quantum Computing Value Chain Structure
- 6.2. Quantum Computing Competitive Analysis
- 6.2.1. Leading Vendor Efforts
- 6.2.2. Start-up Companies
- 6.2.3. Government Initiatives
- 6.2.4. University Initiatives
- 6.2.5. Venture Capital Investments
- 6.3. Large Scale Computing Systems
7.0. Company Analysis
- 7.1. D-Wave Systems Inc.
- 7.1.1. Company Overview:
- 7.1.2. Product Portfolio
- 7.1.3. Recent Development
- 7.2. Google Inc.
- 7.2.1. Company Overview:
- 7.2.2. Product Portfolio
- 7.2.3. Recent Development
- 7.3. Microsoft Corporation
- 7.3.1. Company Overview:
- 7.3.2. Product Portfolio
- 7.3.3. Recent Development
- 7.4. IBM Corporation
- 7.4.1. Company Overview:
- 7.4.2. Product Portfolio
- 7.4.3. Recent Development
- 7.5. Intel Corporation
- 7.5.1. Company Overview
- 7.5.2. Product Portfolio
- 7.5.3. Recent Development
- 7.6. Nokia Corporation
- 7.6.1. Company Overview
- 7.6.2. Product Portfolio
- 7.6.3. Recent Developments
- 7.7. Toshiba Corporation
- 7.7.1. Company Overview
- 7.7.2. Product Portfolio
- 7.7.3. Recent Development
- 7.8. Raytheon Company
- 7.8.1. Company Overview
- 7.8.2. Product Portfolio
- 7.8.3. Recent Development
- 7.9. Other Companies
- 7.9.1. 1QB Information Technologies Inc.
- 7.9.1.1. Company Overview
- 7.9.1.2. Recent Development
- 7.9.2. Cambridge Quantum Computing Ltd.
- 7.9.2.1. Company Overview
- 7.9.2.2. Recent Development
- 7.9.3. QC Ware Corp.
- 7.9.3.1. Company Overview
- 7.9.3.2. Recent Development
- 7.9.4. MagiQ Technologies Inc.
- 7.9.4.1. Company Overview
- 7.9.5. Rigetti Computing
- 7.9.5.1. Company Overview
- 7.9.5.2. Recent Development
- 7.9.6. Anyon Systems Inc.
- 7.9.6.1. Company Overview
- 7.9.7. Quantum Circuits Inc.
- 7.9.7.1. Company Overview
- 7.9.7.2. Recent Development
- 7.9.8. Hewlett Packard Enterprise
- 7.9.8.1. Company Overview
- 7.9.8.2. Recent Development
- 7.9.9. Fujitsu Ltd.
- 7.9.9.1. Company Overview
- 7.9.9.2. Recent Development
- 7.9.10. NEC Corporation
- 7.9.10.1. Company Overview
- 7.9.10.2. Recent Development
- 7.9.11. SK Telecom
- 7.9.11.1. Company Overview
- 7.9.11.2. Recent Development
- 7.9.12. Lockheed Martin Corporation
- 7.9.12.1. Company Overview
- 7.9.13. NTT Docomo Inc.
- 7.9.13.1. Company Overview
- 7.9.13.2. Recent Development
- 7.9.14. Alibaba Group Holding Limited
- 7.9.14.1. Company Overview
- 7.9.14.2. Recent Development
- 7.9.15. Booz Allen Hamilton Inc.
- 7.9.15.1. Company Overview
- 7.9.16. Airbus Group
- 7.9.16.1. Company Overview
- 7.9.16.2. Recent Development
- 7.9.17. Amgen Inc.
- 7.9.17.1. Company Overview
- 7.9.17.2. Recent Development
- 7.9.18. Biogen Inc.
- 7.9.18.1. Company Overview
- 7.9.18.2. Recent Development
- 7.9.19. BT Group
- 7.9.19.1. Company Overview
- 7.9.19.2. Recent Development
- 7.9.20. Mitsubishi Electric Corp.
- 7.9.20.1. Company Overview
- 7.9.21. Volkswagen AG
- 7.9.21.1. Company Overview
- 7.9.21.2. Recent Development
- 7.9.22. KPN
- 7.9.22.1. Recent Development
- 7.10. Ecosystem Contributors
- 7.10.1. Agilent Technologies
- 7.10.2. Artiste-qb.net
- 7.10.3. Avago Technologies
- 7.10.4. Ciena Corporation
- 7.10.5. Eagle Power Technologies Inc
- 7.10.6. Emcore Corporation
- 7.10.7. Enablence Technologies
- 7.10.8. Entanglement Partners
- 7.10.9. Fathom Computing
- 7.10.10. Alpine Quantum Technologies GmbH
- 7.10.11. Atom Computing
- 7.10.12. Black Brane Systems
- 7.10.13. Delft Circuits
- 7.10.14. EeroQ
- 7.10.15. Everettian Technologies
- 7.10.16. EvolutionQ
- 7.10.17. H-Bar Consultants
- 7.10.18. Horizon Quantum Computing
- 7.10.19. ID Quantique
- 7.10.20. InfiniQuant
- 7.10.21. IonQ
- 7.10.22. ISARA
- 7.10.23. KETS Quantum Security
- 7.10.24. Magiq
- 7.10.25. MDR Corporation
- 7.10.26. Nordic Quantum Computing Group
- 7.10.27. Oxford Quantum Circuits
- 7.10.28. Post-Quantum (PQ Solutions)
- 7.10.29. ProteinQure
- 7.10.30. PsiQuantum
- 7.10.31. Q&I
- 7.10.32. Qasky
- 7.10.33. QbitLogic
- 7.10.34. Q-Ctrl
- 7.10.35. Qilimanjaro Quantum Hub
- 7.10.36. Qindom
- 7.10.37. Qnami
- 7.10.38. QSpice Labs
- 7.10.39. Qu & Co
- 7.10.40. Quandela
- 7.10.41. Quantika
- 7.10.42. Quantum Benchmark Inc.
- 7.10.43. Quantum Circuits Inc.
- 7.10.44. Quantum Factory GmbH
- 7.10.45. QuantumCTek
- 7.10.46. Quantum Motion Technologies
- 7.10.47. QuantumX
- 7.10.48. Qubitekk
- 7.10.49. Qubitera LLC
- 7.10.50. Quintessence Labs
- 7.10.51. Qulab
- 7.10.52. Qunnect
- 7.10.53. QuNu Labs
- 7.10.54. River Lane Research
- 7.10.55. SeeQC
- 7.10.56. Silicon Quantum Computing
- 7.10.57. Sparrow Quantum
- 7.10.58. Strangeworks
- 7.10.59. Tokyo Quantum Computing
- 7.10.60. TundraSystems Global Ltd.
- 7.10.61. Turing
- 7.10.62. Xanadu
- 7.10.63. Zapata Computing
- 7.10.64. Accenture
- 7.10.65. Atos Quantum
- 7.10.66. Baidu
- 7.10.67. Northrop Grumman
- 7.10.68. Quantum Computing Inc.
- 7.10.69. Keysight Technologies
- 7.10.70. Nano-Meta Technologies
- 7.10.71. Optalysys Ltd.
8.0. Quantum Computing Market Analysis and Forecasts 2023-2028
- 8.1.1. Quantum Computing Market by Infrastructure
- 8.1.1.1. Quantum Computing Market by Hardware Type
- 8.1.1.2. Quantum Computing Market by Application Software Type
- 8.1.1.3. Quantum Computing Market by Service Type
- 8.1.1.3.1. Quantum Computing Market by Professional Service Type
- 8.1.2. Quantum Computing Market by Technology Segment
- 8.1.3. Quantum Computing Market by Industry Vertical
- 8.1.4. Quantum Computing Market by Region
- 8.1.4.1. North America Quantum Computing Market by Infrastructure, Technology, Industry Vertical, and Country
- 8.1.4.1.1. Quantum Computing Market by Infrastructure
- 8.1.4.1.2. Quantum Computing Market by Hardware Type
- 8.1.4.1.3. Quantum Computing Market by Application Software Type
- 8.1.4.1.4. Quantum Computing Market by Service Type
- 8.1.4.1.4.1. Quantum Computing Market by Professional Service Type
- 8.1.4.1.5. Quantum Computing Market by Technology Segment
- 8.1.4.1.6. Quantum Computing Market by Industry Vertical
- 8.1.4.1.7. Quantum Computing Market by Country
- 8.1.4.2. European Quantum Computing Market by Infrastructure, Technology, and Industry Vertical
- 8.1.4.2.1. Quantum Computing Market by Infrastructure
- 8.1.4.2.2. Quantum Computing Market by Hardware Type
- 8.1.4.2.3. Quantum Computing Market by Application Software Type
- 8.1.4.2.4. Quantum Computing Market by Service Type
- 8.1.4.2.4.1. Quantum Computing Market by Professional Service Type
- 8.1.4.2.5. Quantum Computing Market by Technology Segment
- 8.1.4.2.6. Quantum Computing Market by Industry Vertical
- 8.1.4.2.7. Quantum Computing Market by Country
- 8.1.4.3. Asia-Pacific Quantum Computing Market by Infrastructure, Technology, and Industry Vertical
- 8.1.4.3.1. Quantum Computing Market by Infrastructure
- 8.1.4.3.2. Quantum Computing Market by Hardware Type
- 8.1.4.3.3. Quantum Computing Market by Application Software Type
- 8.1.4.3.4. Quantum Computing Market by Service Type
- 8.1.4.3.4.1. Quantum Computing Market by Professional Service Type
- 8.1.4.3.5. Quantum Computing Market by Technology Segment
- 8.1.4.3.6. Quantum Computing Market by Industry Vertical
- 8.1.4.3.7. Quantum Computing Market by Country
- 8.1.4.4. Middle East & Africa Quantum Computing Market by Infrastructure, Technology, and Industry Vertical
- 8.1.4.4.1. Quantum Computing Market by Infrastructure
- 8.1.4.4.2. Quantum Computing Market by Hardware Type
- 8.1.4.4.3. Quantum Computing Market by Application Software Type
- 8.1.4.4.4. Quantum Computing Market by Service Type
- 8.1.4.4.4.1. Quantum Computing Market by Professional Service Type
- 8.1.4.4.5. Quantum Computing Market by Technology Segment
- 8.1.4.4.6. Quantum Computing Market by Industry Vertical
- 8.1.4.4.7. Quantum Computing Market by Country
- 8.1.4.5. Latin America Quantum Computing Market by Infrastructure, Technology, and Industry Vertical
- 8.1.4.5.1. Quantum Computing Market by Infrastructure
- 8.1.4.5.2. Quantum Computing Market by Hardware Type
- 8.1.4.5.3. Quantum Computing Market by Application Software Type
- 8.1.4.5.4. Quantum Computing Market by Service Type
- 8.1.4.5.4.1. Quantum Computing Market by Professional Service Type
- 8.1.4.5.5. Quantum Computing Market by Technology Segment
- 8.1.4.5.6. Quantum Computing Market by Industry Vertical
- 8.1.4.5.7. Quantum Computing Market by Country
9.0. Conclusions and Recommendations
10.0. Appendix: Quantum Computing and Classical HPC
- 10.1. Next Generation Computing
- 10.2. Quantum Computing vs. Classical High-Performance Computing
- 10.3. Artificial Intelligence in High Performance Computing
- 10.4. Quantum Technology Market in Exascale Computing