International Data Corporation (IDC) today released its first forecast for the global quantum computing market, projecting customer spending on quantum computing will grow from $ 412 million in 2020 to $ 8.6 billion in 2027. This represents a 6-year compound annual growth rate (CAGR) of 50.9% above the Forecast period 2021-2027. The forecast includes core quantum computing as a service as well as enabling and adjacent quantum computing as a service.
IDC states that major successes in quantum computing technology, maturing quantum computing as a service infrastructure and platform market, and the growth of performance-intensive computing workloads appropriate for quantum technology will lead to the majority of market growth over the forecast period.
IDC also expects investment in the quantum computing market to grow at a 6-year CAGR (2021-2027) of 11.3% and reach nearly $ 16.4 billion by the end of 2027. This includes investments made by public and private funded institutions, government spending worldwide. , internal allocation (R&D spending) of technology and service vendors, and external financing of venture capitalists and private equity firms.
Like any new technology of recent decades, the industry will pour billions of dollars to make the technology a common place and ready for mass adoption. The closest comparison is classical computing, the very technology that quantum computing intends to disrupt.
IDC anticipates that these investments will cause current limited quantum computing capabilities to be replaced by a new generation of quantum computing solutions, leading to the development of new use cases and market segments that will accelerate the adoption of quantum computing to gain a competitive advantage. As a result, the quantum computing market will see an increase in customer spending at the end of the forecast period.
IDC sees 2021 as a pivotal year in the quantum computing industry. Strategic approaches implemented to achieve quantum advantage became more defined as vendors published quantum computing roadmaps emphasizing methods for improving kbitbit scaling and error correction, sought new financial opportunities by publishing or partnering with government, educational or private units, or merged in anticipation of. fuller access. For most vendors, these approaches have included the further development of the quantum ecosystem. This trend promises to continue into 2022 and then as quantum computing vendors progress to a quantum advantage and enterprise businesses are looking for a competitive advantage using current and emerging quantum technologies.
“For many critical issues, classical computing will be exhausted in the next decade and we will see quantum computing take over as the next generation of performance-intensive computing,” he said. Peter Ruttena global research leader for efficiency-intensive computing at IDC.
“Advances in quantum computing will be a drum beat over time with the farthest advances most important for the most complex problems. Organizations should start experimenting now using quantum roadmaps to guide their quantum journey,” he added. Heather Westsenior research analyst, Infrastructure Systems, Platforms and Technologies Group at IDC.
The IDC report, Global Quantum Computing Forecast, 2020-2027: Coming Soon for the Next Decade (IDC # US48372921), provides a global market forecast for a composite view of customer spending for quantum computing (hardware, software, cloud and other services) for the period 2021-2027. As part of this forecast, IDC is exploring core quantum computing as a service, and enabling and adjoining quantum computing as a service customer spend. The report also provides market overview, including trends in quantum computing investments, as well as drivers and challenges for quantum computing vendors and cloud service providers.
The IDC report is part of IDC’s quantum computing research program, which also includes qualitative and quantitative research focusing on end-user adoption trends, sales prospects and strategies, and quantum computing use cases. IDC’s quantum computing research provides insights into the demand side of cloud-based quantum computing, including preferred technologies and end-user investment, implementation and adoption strategies, vendors and use cases on quantum computing.
More information can be found in the following IDC reports: 2021 Global Quantum Technologies Use Report (IDC # US47325221), Follow the Yellow Brick Road: The Buildings of Quantum Computing (IDC # US47941721), Operation Inflection Point: Exploiting the Quantum Ecosystem to Become a Quantum Ready (IDC # US47812321), and IDC’s Enterprise IT Infrastructure Survey, 1Q21: Knowledge of End-to-End IT Computer Infrastructure Priorities and Quantum Computing Adoption (IDC # US47687021).
International Data Corporation (IDC) is the world’s leading provider of market intelligence, consulting services and events for the information technology, telecommunications and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise in technology, IT benchmarking and sourcing, and industry opportunities and trends in more than 110 countries. IDC’s analysis and understanding helps IT professionals, business executives, and the investment community make fact-based technology decisions and achieve their key business goals. Founded in 1964, IDC is a wholly owned subsidiary of the International Data Group (IDG), the world’s leading technology media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to it IDC Blog for industrial news and insights.