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Introduction

The quantum computing market is a small but rapidly maturing one from the technology perspective. However, for quantum computing to succeed it needs the market in suitable applications to also mature.

Highlights

  • Quantum computing may appear more relevant to a 2050 Trends to Watch than a 2020 one, but Ovum consider that it is the correct time to shine the spotlight on the technology.
  • The Tractica market forecast for Quantum computing shows it growing at a CAGR of 62% with a market value of $2.2bn by 2025.
  • Understand why IBM considers quantum volume the metric to define progress.

Features and Benefits

  • Understand why Ovum believes the technology has reached a stage where scientists believe they can deliver a viable quantum computer in the next decade.
  • Learn why developing the use cases for quantum computing is where the most visible progress in 2020 will be made.
  • Discover why the interface between classical and quantum computing is where Ovum expects to see new development research announced in 2020/21.
  • Understand how building up the skills base is already showing signs of success, but more is needed if quantum computing is to become mainstream.
  • Learn more about why Google announced it had reached quantum supremacy with a 54-qubit computer.

Key questions answered

  • How will quantum computing differ from current computing?
  • What new use cases will quantum computers be best suited for?
  • When will quantum computers become a common feature of our technology?
  • How can I acquire the skills needed?
  • Which vendors are most active in the quantum area?

Table of contents

Summary

  • Catalyst
  • Ovum view
  • Key messages

Recommendations

  • Recommendations for enterprises
  • Recommendations for vendors

The technology has reached a stage where scientists believe they can deliver a viable quantum computer in the next decade

  • IBM considers quantum volume the metric to define progress
  • Google announced it had reached quantum supremacy with a 54-qubit computer
  • Cycle benchmarking may represent a milestone in assessing quantum computing performance

Developing the use cases for quantum computing is where the most visible progress in 2020 will be made

  • Identifying problems a quantum computer could solve more efficiently and effectively is key to momentum
  • Security is an area where quantum will have massive implications

The interface between classical and quantum computing: Ovum expects to see new vendors announce development research in 2020/21

  • Quantum communications is an underreported but important area that will determine the viability of any commercial quantum computer
  • The linking of classical computing to quantum computing will emerge as a new subsector of the market

Building up the skills base is already showing signs of success, but more is needed if quantum computing is to become mainstream

  • Leading vendors working with academia is one way of expanding the knowledge base, but not the only one

Appendix

  • Definitions
  • Methodology
  • Author