Global Quantum Computing Market 2017 Industry Analysis, Size, Share, Growth, Trends and Forecast by 2024

Quantum Computing market* will reach $10.7 billion by 2024, out of which $8.45 billion stem from product sales and services and $2.25 billion from government-funded RDT&E programs.

Quantum Computing 2024 Market: Products & Services $8.45 B. Government-Funded R&D $2.25 B

We are in the midst of a “Quantum Computing Supremacy Race”, one that will result in groundbreaking computing power, enabling disruptive new quantum computing technologies that have the potential to change long-held dynamics in commerce, intelligence, military affairs and strategic balance of power. 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.

In a way that was unheard of five years ago, quantum physicists are now partnering with corporate tech giants, to develop quantum computing capabilities and technologies as the foundation of a second information age.

Advances in quantum computer design, fault-tolerant algorithms and new fabrication technologies are now transforming this “holy-grail” technology into a realistic program poised to surpass traditional computation in some applications. With these new developments, the question companies are asking is not whether there will be a quantum computer, but who will build it and benefit from it. Realizing quantum computing capability demands that hardware efforts would be augmented by the development of quantum software to obtain optimized quantum algorithms able to solve application problems of interest.

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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. Scientists announced their achievement at a press conference in the Shanghai Institute for Advanced Studies of University of Science and Technology of China on Wednesday. Scientists believe quantum computing could, in some ways, dwarf the processing power of today’s supercomputers”.

Due to economic interest and the “decline of Moore’s Law” of computational scaling, eighteen of the world’s biggest corporations (see image above) and dozens of government agencies are working on Quantum Computing or partnering with startups like D-Wave. The main contenders in this race are IBM, Intel, Microsoft and Google. Near-term expectations for quantum computing range from solving optimization problems, quantum-encrypted communications, artificial intelligence, smart manufacturing & logistics and smart retail, to quantum computing services in the cloud and molecular structure research.

According to the "Quantum Computing Technologies & Global Market – 2017-2024" report, the global Quantum Computing market* will reach $10.7 billion by 2024, out of which $8.45 billion stem from product sales and services and $2.25 billion from government-funded RDT&E programs.

The 2-volume 529-page landmark report is the only comprehensive review of the global quantum computing market available today. This report is a valuable resource for executives with interests in the market. It has been explicitly customized for ICT industry managers, investors and government decision-makers to enable them to identify business opportunities, emerging applications, market trends and risks, as well as to benchmark business plans.

Questions answered in this report include:

What will the quantum computing market size and trends be during 2017-2024?
Which are the quantum computing submarkets that provide attractive business opportunities?
What drives the customers to purchase quantum computing solutions and services?
What are the QC applications & services trends?
What are the market SWOT (Strengths, Weaknesses, Opportunities and Threats)?
What are the challenges to the quantum computing market penetration & growth?
Who are the industry players?
How and where to invest in quantum computing industry?
With 529 pages, 242 tables & figures, this report covers 17 vertical, 24 national, 4 revenue sources and 5 regional markets; offering for each of the 73 submarkets 2016 assessments and 2017-2024 forecasts and analyses.

(*) Including: product & services sales and government-funded research, development, testing and evaluation (RDT&E)

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Why Buy This Report?

A. Market size data is analyzed via 5 independent key perspectives.
With a highly fragmented market we address the “money trail” – each dollar spent is analyzed and crosschecked via 5 orthogonal viewpoints:
1] By 24 national markets:
2] By 4 sectors:
3] by 17 vertical markets
4] By 4 revenue sources
5] By 5 regional markets

B. Detailed market analysis framework includes:
Business Opportunities
SWOT Analysis
Competitive Analysis
Business Environment

C. 41 Quantum Computing Bids, and Projects Data are provided
D. The report includes the following appendices:
E. The report includes over 300 links to the Quantum Computing community information sources
F. The report provides an updated extensive data of the leading 57 Quantum Computing companies:
G. The report includes a detailed background of 55 Quantum Computing Business Opportunities by the following applications:

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