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ST. PAUL, Minn.,Feb. 4, 2022 A new study conducted by Hyperion Research and sponsored by the Quantum Economic Development Consortium (QED-C) and QC Ware with assistance from the European Quantum Industry Consortium and Quantum Industry Canada today announced that the global quantum computing (QC) market earned an estimated $490 millionin 2021. The market is anticipated to expand at an annual rate of 21.9 percent through 2024.

The estimate is strongly data-driven, drawn from a survey of 112 quantum computing vendors headquartered inNorth America,Europe, the Asia/Pacific Region, and theMiddle East. Survey respondents spanned the range of the QC ecosystem, including QC algorithm and QC application software developers, QC hardware developers and product providers, and QC venture capital organizations.

This newest market study confirms that the global quantum computing sector will exhibit stable and robust growth for at least the next few years. A growing list of QC-end users around the world likely will continue to fuel such growth, attracted by the increasing base of new and innovative QC- based applications and use cases critical to their overall advanced computing requirements, according toBob Sorensen, Chief Analyst for Quantum Computing, Hyperion Research.

Additional insights from the study included:

This study is the second annual QC market forecast by Hyperion Research and underwritten by QED-C and QC Ware. The findings, which were recently presented at the 2021 Q2B conference, will help inform decisions made by QC developers interested in rapidly changing QC market trends and opportunities; national-level policymakers tasked with QC-related R&D funding support, procurement policies, trade, and QC-specific security consideration; current and future QC end-users looking to gauge the pace and progress of the sector; and various corporate and venture capital entities assessing the technology and market potential of the sector. Regular updates to these studies will track the growth of the QC industry and help vendors, investors, and policymakers understand the evolving landscape of the quantum computing ecosystem. Future studies will be presented at the annual Q2B conference, held in the second week of December inCalifornia.

Celia Merzbacher, Executive Director of QED-C said, This data-driven study provides a snapshot of where the industry is now and where it is headed in the next three to five years. With broader coverage compared to the survey one year ago, the consistent results year-over-year provide added confidence in the results.

We believe that building practical quantum computing applications, which is our main mission, is not a zero-sum game, said Yianni Gamvros, Head of Business Development, QC Ware. QC Ware is actively investing and cares deeply about the health of the entire quantum computing ecosystem. Support for this report is one of many community initiatives that we are undertaking to ensure the entire space is healthy, transparent, and growing as quickly as possible.

About Quantum Economic Development Consortium

The Quantum Economic Development Consortium (QED-C) is an industry-driven consortium managed by SRI International with the mission to support a robust U.S. QIST industry and related supply chain. QED-C is supported by the National Institute of Standards and Technology (NIST) in the U.S. Department of Commerce and more than 160 members, including more than 110 U.S. corporations from across the quantum supply chain including component suppliers/manufacturers, software and hardware system developers, service providers and end users. Visit https://quantumconsortium.org.

About QC Ware

QC Wareis a quantum software and services company focused on ensuring enterprises are prepared for the emerging quantum computing disruption. QC Ware specializes in thedevelopment of applications for near-term quantum computing hardware with a team composed of some of the industrys foremost experts in quantum computing. Its growing network of customers includes AFRL, Aisin Group, Airbus, BMW Group, Equinor, Goldman Sachs, and Total. QC Ware Forge, the companys flagship quantum computing cloud service, is built for data scientists with no quantum computing background. It provides unique, performant, turnkey quantum computing algorithms. QC Ware is headquartered inPalo Alto, California, and supports its European customers through its subsidiary inParis. QC Ware also organizes Q2B, the largest annual gathering of the international quantum computing community. Visit https://www.qcware.com.

About Hyperion Research

Hyperion Research provides data-driven research, analysis and recommendations for technologies, applications, and markets in high performance computing and emerging technology areas, such as quantum computing, to help organizations worldwide make effective decisions and seize growth opportunities. Research includes market sizing and forecasting, share tracking, segmentation, technology, and related trend analysis, and both user and vendor analysis for technical server technology used for traditional HPC, high performance data analysis, and AI workloads.Bob Sorensen(bsorensen@hyperionres.com) is Chief Analyst for Quantum Computing. Visit https://hyperionresearch.com.

Source: Hyperion Research

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Study Estimates Global Quantum Computing Market Earned $490M in 2021 - HPCwire