IDC forecasts the global quantum computing market will grow to $7.6 billion by 2027

NEEDHAM, Mass, August 17, 2023 – The International Data Corporation (IDC) today published its second forecast for the worldwide quantum computing market, expecting customer spending on quantum computing to increase from 1 .1 billion USD in 2022 to 7.6 billion USD in 2027. This represents a five-year compound annual growth rate (CAGR) of 48.1%. The forecast includes basic quantum computing as a service as well as support and adjacent quantum computing as a service.

The new forecast is significantly lower than IDC’s previous quantum computing forecast published in 2021. In the interim, customer spending on quantum computing has been negatively impacted by several factors, including: slower-than-expected progress in quantum hardware development, have delayed potential return on investment; the emergence of other technologies such as general AI, which are expected to deliver greater near-term value to end users; and a range of macroeconomic factors, such as higher interest and inflation rates and the possibility of a recession.

IDC expects the quantum computing market to continue to grow more slowly until major quantum hardware developments leading to a quantum advantage are announced. Until then, much of the growth will be driven by the maturation of quantum computing as an infrastructure and service platform as well as the growth of compute-intensive workloads in terms of performance consistent with quantum technology.

IDC also expects investments in the quantum computing market to grow at a CAGR of 11.5% over the forecast period 2023-2027, reaching nearly $16.4 billion by the end of 2027. This includes investments funded by public and private entities, internal appropriations (R&D) spending from technology and service providers, and external funding from venture capitalists and private equity firms. Of particular note is the growing interest in quantum computing by global government agencies, of which 14 (13 countries plus the European Union) have announced quantum initiatives lasts many years and will generate billions of dollars for quantum computing research.

The billions of dollars allocated to quantum computing research and development have led to recent advances in quantum computing hardware and software, as well as new error mitigation and prevention techniques. These advances fuel speculation that near-term quantum advantage could be achieved using today’s noisy intermediate-scale quantum (NISQ) systems. In the long term, these investments are expected to result in the delivery of large-scale quantum systems capable of solving some of the most complex problems challenging scientists and engineers. today, causing customer spending to skyrocket toward the end of the forecast period.

IDC sees 2022 as an eventful year in the quantum computing industry. The strategic approaches deployed to achieve near-term quantum advantage using the NISQ system become clearer as vendors release quantum computing roadmaps that highlight innovative approaches to quantum computing. qubit-scaling solutions, as well as new techniques to minimize and prevent errors. To improve the accessibility and usability of quantum systems, previously inaccessible quantum methods have been made accessible for end-user experimentation, while hardware vendors Other quantum companies have announced partnerships for on-premises quantum deployments and quantum software vendors to provide frictionless software services to non-quantum professionals. Finally, quantum hardware and software vendors have announced the expected launch of new scientific accelerator platforms that will help integrate quantum, AI, and HPC.

“There has been a lot of hype around quantum computing and when will quantum computing happen,” said Heather West, PhD, research director in IDC’s Enterprise Infrastructure Practice. can deliver quantum advantage, for which use cases and when.” . “Today’s quantum computing systems may only be suitable for small-scale testing, but advances continue to be made rapidly over time. Organizations should not hesitate to invest in these innovations.” quantum ants now for quantum readiness in the future.”

IDC Report, IDC Global Quantum Computing Forecast: 2023-2027: Glimpse into the next wave of quantum innovation (IDC #US49198322), provides a worldwide market forecast for a consolidated view of customer spending on quantum computing (hardware, software, cloud and other services) in period 2023-2027. As part of this forecast, IDC analyzes basic quantum computing as a service and enables adjacent quantum computing as a service that customers spend on. The report also provides a market overview, including investment trends in quantum computing, as well as drivers and challenges for quantum computing vendors and service providers cloud.

To learn more about IDC’s Quantum Computing Trends and Strategies study, please click here.

Introducing IDC

International Data Corporation (IDC) is the world’s leading provider of market information, consulting and events services to the information technology, telecommunications and consumer technology markets. With more than 1,300 analysts worldwide, IDC provides global, regional and local expertise on IT technology, standards and sourcing, as well as industry opportunities and trends in more than 110 countries. IDC’s analysis and insights help IT professionals, business executives, and the investment community make fact-based technology decisions and achieve their key business goals. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world’s leading technology media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.

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