Quantum Computing

• On quantum computing, the scale of the actual quantum computers has been rapidly evolving (e.g., IBM recently announced to debut quantum computer with 1,121 quantum bits (qubits) in 2023).
• Tech giant IBM plans to deliver a quantum computer with a 1,121-qubit processor, inside a 10-foot tall super-fridge that will be online and capable of delivering a Quantum Advantage, by 2023.
• Interest in Quantum Key Distribution is expected to spike in 2020, as interest in the security methods surrounding quantum computing gain interest.
• IBM revealed a 65 qubit quantum computer and has set itself the goal to develop a 1000 qubit quantum computer by the end of 2023.
• Although critics claim that commercially available quantum computers will be 10 to 20 years away, in the government world, people who are paying attention are more worried, with some predicting working machines in under five years.
• The global market for Quantum Computing is projected to reach US$513.3 million by the year 2027, trailing a CAGR of 24.2% over the analysis period 2020 through 2027.
• Boston Consulting Group foresees quantum computers improving the operating income of their users by between $450bn and $850bn a year by 2050.
• China is maintaining its modernization pace and envisions gaining competitive advantages in AI, quantum computing, and bioengineering by 2030.
• The market for global quantum computing was valued at $89.35 million in 2016 and is projected to reach $948.82 million by 2025, projected to grow at a compound annual growth rate of 30.02% from 2017 to 2025.
• 72% of surveyed security experts worldwide believe quantum computing will have a negative impact on data security within the next five years.
• Global Quantum Computing Market was valued US$ 198.31 Mn in 2019 and is expected to reach US$ 890.5 Mn by 2027, at CAGR of 28.44% during forecast.
• 2020 projects to be a year where the competition to become the leader in quantum computing will intensify.
• A surprisingly large number of organizations are already experimenting today, and the majority have use cases in mind for where quantum computing could make an impact.
• By the end of 2020, several types of quantum computer will be available through cloud services hosted by Amazon and Microsoft.
• Quantum Key Distribution, will reach revenues of around $140 million in 2020 and the market for Quantum Computers will reach approximately $110 million.
• Google's quantum computers can break encryption, and quantum computing researchers are trying to assure the world that conventional computers and security are not obsolete.
• Accenture's work on quantum computing reflects its view that the tipping point for the new technology could arrive within just five years.
• The UK government expects quantum computing to provide £4 billion of economic opportunities globally by 2024, while in the coming decades productivity gains resulting from quantum computing are expected to surpass over £341 billion globally.
• The looming threat of quantum computing - some say we could see 100,000 x faster quantum computers as soon as 2025 - represents another compelling reason to focus on improving your crypto-agility.
• Although a latecomer by decades to space exploration, China is quickly catching up, experts say, and could challenge the United States for supremacy in artificial intelligence, quantum computing and other fields.
• Unless there are breakthroughs in quantum computing, Earth will not be able to produce enough energy to power the world's computers by 2040.
• The market for quantum computing is projected to reach $64.98 billion by 2030 from just $507.1 million in 2019, growing at a compound annual growth rate of 56.0% during the forecast period (2020-2030).

Last updated: 10 January 2021