Quantum Technology
Market Research Report 2023
DUBLIN --
(BUSINESS WIRE) -- (May 30, 2023) -- The "Quantum Technology
Market by Computing, Communications, Imaging, Security, Sensing,
Modeling and Simulation 2023 - 2028" report has been added to
ResearchAndMarkets.com's offering.
This report
provides a comprehensive analysis of the quantum technology market.
It assesses companies/organizations focused on quantum technology
including R&D efforts and potential gaming-changing quantum
tech-enabled solutions.
The report
evaluates the impact of quantum technology upon other major
technologies and solution areas including, Edge Computing,
Blockchain, IoT, and Big Data Analytics. The report provides an
analysis of quantum technology investment, R&D, and prototyping
by region and within each major country globally.
The report also
provides global and regional forecasts as well as the outlook for
quantum technology's impact on embedded hardware, software,
applications, and services from 2023 to 2028. The report provides
conclusions and recommendations for a wide range of industries and
commercial beneficiaries including semiconductor companies,
communications providers, high-speed computing companies, artificial
intelligence vendors, and more.
Much more than
only computing, the quantum technology market provides a foundation
for improving all digital communications, applications, content, and
commerce. In the realm of communications, quantum technology will
influence everything from encryption to the way that signals are
passed from point A to point B. While currently in the R&D phase,
networked quantum information and communications technology(ICT) is
anticipated to become a commercial reality that will represent
nothing less than a revolution for virtually every aspect of ICT.
However, there
will be a need to integrate the ICT supply chain with quantum
technologies in a manner that does not attempt to replace every
aspect of classical computing but instead leverages a hybrid
computational framework. Traditional high-performance computing will
continue to be used for many existing problems for the foreseeable
future, while quantum technologies will be used for encrypting
communications, signalling, and will be the underlying basis in the
future for all commerce transactions. This does not mean that quantum
encryption will replace blockchain, but rather provide improved
encryption for blockchain technology.
Quantum Technology
Market Beyond Computing
The quantum
technology market will be a substantial enabler of dramatically
improved sensing and instrumentation. For example, gravity sensors
may be made significantly more precise through quantum sensing.
Quantum electromagnetic sensing provides the ability to detect minute
differences in the electromagnetic field.
This will provide
a wide-ranging number of applications, such as within the healthcare
arena wherein quantum electromagnetic sensing will provide the
ability to provide significantly improved mapping of vital organs.
Quantum sensing will also have applications across a wide range of
other industries such as transportation wherein there is the
potential for substantially improved safety, especially for
self-driving vehicles.
Quantum sensing
and imaging go hand-in-hand as the former supports the latter and
vice versa. Quantum sensing may be used to produce images that reveal
information heretofore unobtainable. Conversely, quantum image
processing may be used to dramatically improve microscopy, pattern
recognition, and segmentation in images. Quantum processes enable
detection of image details that would otherwise go unnoticed within
the current constraints of background effects/illumination, low light
levels, and wavelength limitations.
Commercial
applications for the quantum imaging market are potentially
wide-ranging including exploration, monitoring, and safety. For
example, gas image processing may detect minute changes that could
lead to early detection of tank failure or the presence of toxic
chemicals. In concert with quantum sensing, quantum imaging may also
help with various public safety-related applications such as search
and rescue. Some problems are too difficult to calculate but can be
simulated and modelled.
Quantum
simulations and modelling is an area that involves the use of quantum
technology to enable simulators that can model complex systems that
are beyond the capabilities of classical. Even the fastest
supercomputers today cannot adequately model many problems such as
those found in atomic physics, condensed-matter physics, and
high-energy physics.
To accomplish this
goal, quantum simulators create a more controllable quantum
environment to simulate what is actually occurring in nature within a
real-world, uncontrollable, inaccessible quantum environment. Quantum
simulation and modelling can lead to a variety of practical
commercial benefits such as the design of improved computing systems,
development of new materials, and predictive analytics for large
interdependent systems such as a smart city ecosystem.
Sovereign
governments are extremely interested in the quantum technology market
and the interest goes way beyond the pride of being the first to be
able to claim quantum supremacy for developing a quantum computer
that can beat the best classical computer. Governments are interested
in quantum technology because of the many military/defense and
overall security implications. For example, quantum computing can
render all existing encryption useless and exposed to hacking and
infiltration.
This means that
all financial transactions and state secrets are potentially at risk
with quantum computing. Conversely, quantum computing-enabled
encryption will be completely unbreakable. In another example,
quantum sensing and imaging may be used to detect the presence of
aircraft (even stealth fighters).
Advanced Light
Detection and Ranging (LIDAR) systems equipped with quantum imaging
processes may identify the presence of aircraft based on minute
changes in the environment. Conversely, quantum-equipped planes may
similarly foil quantum LIDAR detection systems, protecting themselves
by projecting images that simulate a normal ambient environment.
Quantum Technology
Developments
Some of the latest
developments in the quantum technology market include:
IBM: CONDOR, THE world's first
universal quantum computer with more than 1,000 qubits, is set to
debut in 2023. The company is also planning to launch Heron, the
first of a new flock of modular quantum processors that the company
says may help it produce quantum computers with more than 4,000
qubits by 2025. Important to note is that other quantum computers
with more qubits exist, but Condor will be the world's largest
general-purpose quantum processor.
Microsoft: DARPA has selected
Microsoft as a partner to explore scaled quantum computing in
support of DARPA's broader quantum strategies. "Experts
disagree on whether a utility-scale quantum computer based on
conventional designs is still decades away or could be achieved much
sooner," said Joe Altepeter, US2QC program manager in
DARPA'sDefense Sciences Office.
QCI: A subsidiary has been formed
with the intention to take QCI's technology products to the
Department of Defense and other government agencies. The
organization's solutions will offer quantum platforms designed for
supply chain management, advanced manufacturing, workforce
development and research and development applications.
Xanadu: During Q4 2022, the
company announced that it closed a $100 million USD Series C round
that brought its valuation to $1 billion USD. The company's
valuation approximately tripled over the course of the last review
period, due largely to its cloud-deployed-photonic quantum computer
as well as its leadership in the development of an open-source
software library for quantum computing, along with its established
partnerships with global enterprises.
Select Report
Findings:
Overall global quantum technology
market will reach $53.2 billion by 2028
Quantum computing will lead the
market at $17.6 billion by 2028 and 41.2% CAGR
North America will be the biggest
regional market for quantum technologies overall
China will lead the APAC quantum
technology market at $6.31 billion by 2028 with 39.1%CAGR
Germany will lead the European
quantum technology market at $3.9 billion by 2028 with 30.6%CAGR
The global quantum dots market
will reach $14.9 billion by 2028, growing a 33.7%CAGR and led by
displays
The quantum sensing market will
reach $1.1 billion globally by 2028, nearly twice the size of the
quantum imaging market
The quantum magnetometer market
will reach $998 million globally by 2028, led by superconducting
quantum interference devices
For more
information about this report visit
https://www.researchandmarkets.com/r/715jh6