Study predicts quantum computing market worth US$2.2 billion by 2025
August 15, 2018
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According to a new report from Tractica, while the market for enterprise quantum computing is nascent, total market revenue will begin to accelerate in the next several years, rising from US$39.2 million in 2017 to US$2.2 billion annually by 2025.
The market intelligence firm defines quantum computing as the “utilization of the principles of quantum mechanics to perform calculations and solve problems.
“Using the unique phenomena of individual subatomic particles as compute elements, quantum computers have the potential to quickly solve problems that are impossible to calculate in timeframes that are useful to humans.
“By using superposition and entanglement, two principles of quantum mechanics, quantum computers will be able to perform calculations exponentially faster than classical, transistor-based computers, opening up a new paradigm of high-performance computing power.”
Tractica projects that North America will be the leading region for quantum computing adoption with US$718.3 million in revenue by 2025, followed closely by Europe (US$695.8 million) and Asia Pacific (US$650.9 million).
“Presently, there is very little actual quantum computing product that can be purchased,” said principal analyst Keith Kirkpatrick. “Even by 2025, it is highly unlikely that most Fortune 500 companies will be lining up to purchase a quantum computer.
“As such, much of the revenue in the market will be generated by services, including general consulting services that are provided by vendors, professional services firms, and third-party industry consultants.”
Kirkpatrick added that cloud-based access to quantum computers, which Tractica believes will be the dominant way that enterprises will use quantum machines in the near term, will also contribute to services revenues.
The report includes discussion of the 15 industries that are researching or initiating quantum computing projects today, and likely will be utilizing the technology in the future. The report also includes detailed profiles of 15 key industry players.
An executive summary of the report is available for free download on the firm’s Web site.