Quantum computing By 2023, 90% of enterprise quantum computing investments will engage quantum consulting organisations to help shape problems that can leverage quantum algorithms. The company Q-CTRL offered insights into the world of quantum computing, disagreeing with IBM that quantum computing will be mainstream in five years as it will take much longer. The global commercial quantum computing market is expected to reach $1.3 billion by 2027 at a compound annual growth rate of 52.9% from 2022 to 2027 and $161 million by 2022 from $33.0 million in 2017 at a CAGR of 37.3% for the period 2017-2022. The market for quantum computing is projected to reach $64.98 billion by 2030 from just $507.1 million in 2019, growing at a CAGR of 56.0% during the forecast period (2020-2030). The regional quantum computing market is projected to earn revenues worth USD 952.29 Mn by 2023. The overall quantum computing market is expected to grow from USD 93 million by 2019 to USD 283 million by 2024 at a CAGR of 24.9%. Revenues in the enterprise quantum computing market worldwide are anticipated to reach $9.1 billion by 2030. The global enterprise quantum computing market will hit US$ 5.8 billion by 2025, growing at a compound annual growth rate of more than 30 percent. By 2022, 50% of global tier 1 banks will use quantum computing to handle portfolio allocations, algorithmic trading, and pricing strategies. Google's quantum computers can break encryption, and quantum computing researchers are trying to assure the world that conventional computers and security are not obsolete. The recently launched USD10 billion quantum initiative in Shanghai is expected to contribute to the growth of China enterprise quantum computing market. The encryption that underpins the security of the world's current cyber infrastructure will likely be undermined by quantum computers relatively soon - in the next 10 years, but perhaps earlier. Tractica projects that total quantum computing market revenue will reach $2.2 billion annually by 2025. The global enterprise quantum computing market is expected to witness high growth during the forecast period. The global quantum computing market is expected to witness high growth during the forecast period. The global quantum computing market will be worth $1.9 billion in 2023, increasing to $8.0 billion by 2027. Accenture's work on quantum computing reflects its view that the tipping point for the new technology could arrive within just five years. Most security professionals speculate that quantum computing will eventually render RSA cryptography and ECC useless but will not be able to effectively counter hash. Blockchain, quantum computing, augmented analytics and artificial intelligence will drive disruption and new business models. The quantum computing market in the energy & power industry is expected to witness a CAGR of 39.11% from 2017 to 2023. Areas like Quantum computing, artificial intelligence and edge computing are all making huge leaps forward, something which will only be increased with improved connectivity. Within five years, analysts estimate that 20 percent of organizations will be budgeting for quantum computing projects and, within a decade, quantum computing may be a USD15 billion industry. See full forecast Last updated: 31 May 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
