The graph with data from the Statista Digital Economy Compass shows, quantum computing market size is expected to grow majorly as the technology develops in the current decade.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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The graph with data from the Statista Digital Economy Compass shows, quantum computing market size is expected to grow majorly as the technology develops in the current decade.

As the next giant leap in technology, quantum computing has achieved giant landmarks. Going by the headlines and announcements there are record breaking research or investment announcements every week. The Statista Digital Economy Compass graph shows, quantum computing is anticipated to grow majorly as technology develops in the new era. Reports forecast that the global quantum computing market could reach $9 billion in revenue by 2030, in comparison to $260 million in 2020. While predicting that between 2020 and 2030 the annual average market growth of quantum computing will exceed 40 percent.

IBM recently announced a 127-qubit chip, QuEra a MIT and Harvard start-up announced an even larger  256-qubit neutral atom quantum computer. Google’s Sycamore has announced its discovery  toward quantum error correction and is all set to build a quantum computer with 1 million qubits by 2029. While Honeywell Quantum Solutions and Cambridge Quantuu have come together and launched the new giant quantum computing company, “Quantinuum

Researchers from the Indian Institute of Science (IISC), the Indian Space Research Organisation(ISRO) and Tata Institute of Fundamental Research, are working towards India’s national programme for Quantum-Enabled Science and Technology (QuEST), which includes quantum safe cryptography and quantum communication.

QuTech, a collaboration between the Delft University of Technology and the Netherlands Organisation for Applied Scientific Research (TNO), published their findings lately on a time crystal they had created with a quantum processor.

 

*This graph was first published on Statista www.statista.com  

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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