Quantum computer hardware market sees 30% annual growth
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The quantum computing hardware market is forecast to grow 30% a year over the next twenty years to reach $10bn by 2045.
A new report by IDTechX evaluates key technologies, companies, drivers for growth and adoption barriers across this emerging industry.
Multiple competing quantum computer technologies are assessed: superconducting, silicon-spin, photonic, trapped-ion, neutral-atom, topological, diamond-defect, and annealing.
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The report looks at the competing quantum computing technologies: superconducting, silicon-spin, photonic, trapped-ion, neutral-atom, topological, diamond-defect and annealing. The total addressable market for quantum computer use is converted to hardware sales over time, accounting for advancing capabilities and the cloud access business model. This provides a forecast for the quantum computing market of over US$10bn by 2045 with a compound annual growth rate (CAGR) of 30% says IDtechEx.
With so many competing quantum computing technologies across a fragmented landscape, determining which approaches are likely to dominate is a key challenge.
IDTechEx uses an in-house framework for quantum commercial readiness level to measure how quantum computer hardware is progressing in comparison with its classical predecessor.
As the initial hype around quantum computing begins to cool, investors will increasingly demand demonstration of practical benefits, such as quantum supremacy for commercially relevant algorithms. This means hardware developers need to show not only the quality and quantity of qubits but the entire initialization, manipulation, and readout systems.
Improving manufacturing scalability and reducing cooling requirements are also important, which will create opportunities for methodology agnostic providers of infrastructure such as speciality materials and cooling systems.
By evaluating both the sector and competing quantum computing technologies, the report provides insight into the opportunities in the quantum computing hardware market.
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