BOSTON, April 29,
2024 /PRNewswire/ -- The quantum technology market
leverages nano-scale physics to create revolutionary new devices
for computing, sensing, and communications. Across the industry,
quantum technology offers a paradigm shift in performance compared
with incumbent solutions. In this article, IDTechEx provides an
overview of the insights on offer in the recently published report,
"Quantum Technology Market 2024-2034: Trends, Players,
Forecasts".
Quantum computing market
Quantum computing is being developed in a range of hardware
platforms, including superconducting, trapped-ion, neutral atom,
silicon-spin, photonic, diamond, and more. Competition is building
between start-ups and established computer manufacturers alike to
demonstrate a quantum advantage in computational speed up through
the use of qubits in place of classical bits. Quantum computing is
just beginning to be adopted to solve industry scale optimization
and logistics problems, but it holds promise of going much further.
In particular, future applications within simulation are
anticipated to hugely accelerate drug discovery and the search for
more sustainable energy alternatives. The quantum space race is
underway, with governments worldwide anxious to capture the value
and security that becoming a world leader in the quantum computing
market would offer.
Quantum sensing market
In many ways, the platforms developed for quantum
computing have origins in development for quantum sensing. The
sensitivity of quantum states to environmental noise - which is
such a challenge in computing - can be harnessed in sensing for
highly sensitive measurements of time, magnetic field, current,
gravity, light, and movement. As such, quantum sensors have
applications such as atomic clocks, magnetometers, photo-detectors,
gravimeters, accelerometers, gyroscopes, and more. However, the
market demands in the sensor market vary significantly from
high-performance computing – leading to a distinct set of
opportunities and challenges. To compete with incumbent sensor
technology, quantum sensors must not only offer a significant
performance advantage but also be commercialized into a small, low
power and cost-effective package.
The manufacturing challenge has somewhat stalled the quantum
sensor market in recent years, partially leading to a pivot in hype
and private investment towards computing. However, as the need for
quantum foundries and component manufacture becomes a clearer
necessity for quantum computing, the opportunities for quantum
sensing are seeing somewhat of a revival. Moreover, the quantum
sensor market has the long-term potential to have a huge impact in
high-volume industries such as automotive and consumer
electronics.
Quantum communications market
Quantum communications technology seeks to improve data
security, which is increasingly compromised in the modern world.
The world is generating higher and higher volumes of data, with
increasing concerns about its sensitivity. Meanwhile, bad actors
are committing more advanced cybercrimes – keen to exploit the
value of virtually shared trade secrets, financial data, health
records, and more. Moreover, the scaling up of quantum computing
threatens to undermine existing cryptography methods entirely –
leaving a gap in the market for new 'quantum-ready' technology
solutions able to meet the next generation of encryption needs.
Quantum technology market outlook
The technology differentials within the entire quantum
technology market can be complex to understand, and in many
instances, stakeholders are lacking clarity as to the nature and
scale of the opportunities on offer in this emerging market. As
such, the Quantum Technology Market report provides a clear and
simplified breakdown of the technological fundamentals, summarized
in multiple SWOT analyses, roadmaps, benchmarking tables, and
bespoke graphics. A comprehensive summary of key players in the
quantum technology eco-system is also provided, with multiple
write-ups from primary interviews included. The application
specific focused sections of this report also enable specific
comparisons to be drawn between the quantum solutions emerging from
research, with the classical competition they face in real-world
markets.
For more information on this report, including downloadable
sample pages, please visit www.IDTechEx.com/QuantumTech.
This report acts as a companion to the even more in-depth
reports on each market sector of Quantum Computing, Quantum
Sensing, and Quantum Communications – within which highly
granular ten-tear forecasts are also included, broken down by key
technologies in each space. For more details on the full Quantum
Technologies research portfolio from IDTechEx, see
www.IDTechEx.com/Research/Quantum.
Upcoming free-to-attend webinar
Demystifying the
Quantum Technology Market
Dr Tess Skyrme, Senior Technology
Analyst at IDTechEx and author of this article, will be presenting
a free-to-attend webinar on the topic on Wednesday 29 May 2024 - Demystifying the Quantum
Technology Market.
This webinar will cover:
- Introduction to the basics of the quantum technology
market
- Why now for a quantum space-race?
- Quantum computing: what is it, and which industries are already
being impacted today?
- Quantum sensing: how could trends in future mobility unlock the
markets full potential?
- Quantum communications: why now is the time to engage to truly
protect high-value data-sets
Please click here to check timings and register for your
specific time zone.
If you are unable to make the date, please register anyway to
receive the links to the on-demand recording (available for a
limited time) and webinar slides as soon as they are available.
About IDTechEx
IDTechEx provides trusted independent research on emerging
technologies and their markets. Since 1999, we have been
helping our clients to understand new technologies, their supply
chains, market requirements, opportunities and forecasts. For more
information, contact research@IDTechEx.com or
visit www.IDTechEx.com.
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