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Quantum Computing Market To Reach US$1.9 Billion By 2023, Says New IQT Report

By IQT News posted 30 May 2018

Crozet, Virginia: In its just-released report, “Quantum Computing: Applications, Software and End-User Markets: 2018-2027″, Inside Quantum Technology pegs revenues from quantum computing at $1.9 billion USD in 2023, increasing to $8.0 billion USD by 2027.

This report focuses on opportunities from quantum computing software and cloud services as well as the computers themselves.  Applications/end user communities analyzed include Web search, materials/drug design, financial services, general business planning, healthcare, transportation and the energy industry.  This is in addition to coverage of “traditional” markets for quantum computing in aerospace, defense and R&D.

In 2017, Inside Quantum Technology published two reports on markets for quantum encryption and quantum networking. It now offers full coverage of quantum computing markets in a program that will include reports, market analysis, forecasting and due diligence appraisal of Quantum Computing, Quantum Networking, Quantum Sensor and Quantum Components Opportunities.  The full program can be located at:


According to Lawrence Gasman, the author of this report, 2018 will see a new era for quantum computing. “IBM, Google and Microsoft, have made quantum computing a central part of their enterprise computing strategy,” says Gasman, “in the next year or so, problems that cannot be solved using classical supercomputers will find solutions using quantum computers.” Gasman spoke at the recent Q2B quantum computing for Business conference — the first conference to focus on quantum computing as a business, rather than just a technical topic.  He has personally tracked the evolution of quantum computers for 20 years.

About the Report:

The new Inside Quantum Technology report identifies the main future inflection points for quantum computing markets and determines adoption timeframes for key end user communities. For marketing strategists, product managers and investors interested in where the money will be made in quantum computing, the report answers the following questions:

  • Will quantum computing just be delivered just via a cloud or are there opportunities for on-premises quantum computers?  Although, the conventional wisdom says that quantum computing is a cloud services play, the history of computers suggests the emergence of on-premises quantum computing on premises in the not-too-distant future
  • What operating systems, middleware, simulators, compilers applications software will be required for enterprise quantum computing? What can quantum computing software do today and what will it be able to do in the future?
  • How are today’s quantum computing start-ups preparing to generate short-term revenues and where are they getting their investment money from?  The report includes detailed strategic profiles of more than 20 leading quantum software and cloud services firms.

This report includes ten-year revenue forecasts for quantum computing applications with breakouts by hardware, software, services, geography and end user. These forecasts are the most realistic available. Other forecasters apparently confuse government funding with business revenues – leading to exaggerated estimates for quantum computing markets.

From the Report:

Quantum enterprise computing to boom: In 2018,  quantum computing users, other than R&D and cloud providers, will account for just 6% of quantum computer revenues.  By 2024 their share will be around 30%. The biggest commercial expenditures on quantum computing will come from defense/aerospace, pharmaceuticals/specialty chemical and banking/finance.

No sure winners in the quantum hardware market yet: D-Wave currently leads the quantum computing market with its quantum annealer. Google, IBM and Microsoft are investing heavily in the future of quantum computers. Future market shares will depend not just on the number of qubits particular quantum computers can process, but on the stability of those qubits. With many different technologies contending for the quantum computing space, there may be breakthroughs that will ultimately give new firms a lion’s share of the market. By 2023, quantum computing hardware revenues will be approximately $803 million.

A new quantum software market emerges: By 2023 the market for quantum computing software will reach $408 million, with 60 percent of these revenues from applications packages for cloud service providers. Early revenues for quantum software start-ups will also come from compilers, simulators and a few applications packages.

About Inside Quantum Technology:

Inside Quantum Technology  (IQT Research) publishes hype-free industry analysis on quantum technology markets. Our reports contain the most authoritative market forecast and technology assessment available and are based on research and forecasting practices developed over nearly 30 years at our sister companies.

Visit https://www.insidequantumtechnology.com for a full listing of IQT ‘s Reports and other services.

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