New IQT Report Forecasts $780 Million Quantum Computing Market in 2025 and Profiles 42 Leading Quantum Computing Organization
(GlobeNewsWire) According to Quantum Computing Strategies: 2019, a new report from Inside Quantum Technology, the market for quantum computing will reach $780 million by 2025, going on to reach $2.6 billion by 2029. In addition to providing a granular ten-year forecast of the worldwide quantum computing market, this report provides detailed profiles of 42 companies and research institutes that are key influencers for quantum computing.The methodology employed for this report involved both primary and secondary research. Primary research consisted of interviews conducted primarily on the phone, through e-mail or in person. Almost 40 interviews were conducted with key industry, academic and national lab leaders. Secondary research consisted of reviews of both technical and business articles related to quantum encryption.
The profiles in this report chronicle their main products and services, along with their product roadmaps, marketing strategies and views on the quantum computing market in general.
The hardware projections in the report are broken out by quantum computers, quantum annealers and quantum simulators, with both numbers of machines shipped and the value of the market provided. By 2029, Inside Quantum Technology predicts that, in total, almost 140 of these machines will be shipped annually.
The report also predicts consolidation in the quantum computing software sector, although this sector will remain crowded with dozens of firms active, because of low barriers to entry. Price points for quantum software have yet to firm up — a significant amount of open source software is currently used in the quantum computing. According to the projections in Quantum Computing Strategies: 2019, in 2025 the quantum computing software market will achieve almost $240 million going on to reach more than $900 in 2029.
Meanwhile, all but the largest businesses will access quantum through quantum clouds such as those, currently available from IBM and D-Wave. Revenues from such services are low at present — users are often researchers who have free access. But large corporate users are already paying for access to quantum clouds and by 2029 revenues from quantum cloud services are expected to be over $740 million.