International Data Corporation (IDC) today published its first forecast for the global quantum computing market, projecting customer spending on quantum computing to grow from $412 million in 2020 to $8.6 billion in 2027. This represents a compound annual growth rate ( CAGR) of 6 years of 50.9% over 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 says that major advances in quantum computing technology, a maturing quantum computing infrastructure and platform-as-a-service market, and the growth of performance-intensive computing workloads suitable for quantum technology will drive most of the growth. market growth during the forecast period.
IDC also expects investments in the quantum computing market to grow at a 6-year (2021-2027) CAGR of 11.3% and reach nearly $16.4 billion by the end of 2027. This includes investments made by publicly funded institutions. and private, government spending worldwide. , internal allocation (R&D spending) from technology and service providers, and external funding from venture capitalists and private equity firms.
Like any breakthrough technology of the last few decades, the industry will invest billions of dollars to make the technology commonplace and ready for mass adoption. The closest comparison is classical computing, the very technology that quantum computing sets out to alter.
IDC anticipates that these investments will see current limited quantum computing capabilities 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 towards the end of the forecast period.
IDC sees 2021 as a pivotal year in the quantum computing industry. The strategic approaches implemented to achieve quantum advantage became more defined as vendors published quantum computing roadmaps emphasizing methods to improve qubit scaling and error correction, pursued new funding opportunities by going public or partner with government, educational, or private entities, or merged in anticipation of the offering. a more comprehensive approach. For most vendors, these approaches included further development of the quantum ecosystem. This trend promises to continue through 2022 and beyond as quantum computing vendors move toward quantum advantage and businesses seek competitive advantage using current and emerging quantum technologies.
“For many critical problems, classical computing will run out in the next decade and we will see quantum computing become the next generation of performance-intensive computing,” he said. Peter RutteGlobal Research Leader for Performance Intensive Computing at IDC.
“Advances in quantum computing will be a rumble over time and the most distant advances will be the most relevant to the most complex problems. Organizations should start experimenting now using quantum road maps to guide their quantum journey,” he added. west heathersenior Research Analyst, Systems, Platforms and Infrastructure Technologies Group at IDC.
The IDC report, Global Quantum Computing Forecast, 2020-2027: An Impending Disruption for the Next Decade (IDC #US48372921), provides a global market forecast for a composite view of customer spending on quantum computing (hardware, software, cloud, and other services) for the period 2021-2027. As part of this forecast, IDC breaks down core quantum computing as a service and adjacent quantum computing as a service enablement and customer spending. The report also provides an overview of the market, 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, vendor perspectives and strategies, and quantum computing use cases. quantum computing. IDC’s quantum computing research provides insights into the demand side of cloud-based quantum computing, including preferred technologies and strategies for investment, deployment, and end-user adoption, vendor insights, and computing use cases quantum.
Additional information can be found in the following IDC reports: 2021 Worldwide Quantum Technologies Use Case Report (IDC #US47325221), Follow the Yellow Brick Road: The Building Blocks of Quantum Computing (IDC #US47941721), Operation Tipping Point: Exploiting the Quantum Ecosystem to Prepare for Quantum (IDC #US47812321), and IDC Enterprise IT Infrastructure Survey, 1Q21: Perspectives on End-User IT Computing Infrastructure Priorities and Quantum Computing Adoption (IDC #US47687021).
International Data Corporation (IDC) is the world’s leading provider of market intelligence, advisory 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 insights and analysis help IT professionals, business executives, and the investment community make fact-based technology decisions and achieve their key business objectives. 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. For more information about IDC, visit www.idc.com. Follow IDC on Twitter at @IDC Y LinkedIn. Subscribe to the IDC Blog for industry news and information.