Quantum computing can best be defined as the use of the attributes and principles of quantum mechanics to perform calculations and solve problems. The global market for quantum computing is being driven largely by the desire to increase the capability of modeling and simulating complex data, improve the efficiency or optimization of systems or processes, and solve problems with more precision. A quantum system can process and analyze all data simultaneously and then return the best solution, along with thousands of close alternatives – all within microseconds, according to a new report from Tractica.
Tractica forecasts that total enterprise quantum computing market revenue will reach $9.1 billion annually by 2030, up from $111.6 million in 2018.
“Quantum computers are not destined to replace the processors in personal computers or smartphones anytime soon,” says principal analyst Keith Kirkpatrick. “Significantly scaling the processing power, improving error correction abilities, and writing and refining quantum algorithms will be required before enterprises adopt quantum computing en masse.“
Tractica’s report, “Quantum Computing for Enterprise Markets”, examines the market trends and technology issues surrounding quantum computers used by enterprise organizations. The report includes discussion of the 15 industries that are researching or initiating quantum computing projects today and likely will be utilizing the technology in the future. It also includes detailed discussion of 60 use cases, as well as more than 15 key market participants. Enterprise quantum computing market forecasts, segmented by world region, industry, and use case, along with breakouts by hardware, software, storage, and services revenue, extend through 2030. An Executive Summary of the report is available for free download on the firm’s website.