Quantum technology covers a wide range of applications addressing key industrial simulation and optimization challenges in chemicals/materials research, logistics, financial services, healthcare, life science, manufacturing and defense: drug discovery, protein structure prediction, investment risk analysis, feedstock management, vehicle routing, network optimization … It is also a critical national issue to many countries as it addresses secure communications and database management linked to national security.
The total market value for quantum technologies (computing, cryptography, sensing) will grow from about $480M in 2018 to $3.2B in 2030 (17% CAGR).
- We estimate the quantum computing hardware market value to be about $30M today (mostly quantum annealers) growing to $650M in 2030. QaaS (“Quantum as a Service”) will be worth $1.37B in 2030.
- We estimate the market for Quantum Key Distribution (“QKD”) to be $68M in 2019, growing to $785M in 2030.
- Quantum sensor market will grow from $400M in 2019 to $545M in 2030.
- The market inflexion point will be after 2026-2027 as it will be determined by future announcements of available quantum computers and new use cases for quantum telecommunication.
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