Infographic – Huge Quantum Computing Growth Forecast

Click on image for full-size view (Statista)

4 Dec. 2021. Quantum computing is expected to make major gains in this decade, with the global market size for this technology accelerating in that time. The business research company Statista made these market calculations, and on Thursday displayed its annual projections through 2030 in chart form.

Quantum technology handles information in terms of probabilities, which describes infinite information components called quantum bits, or qubits, between values of 1 and 0. Conventional digital technologies, on the other hand, assign values of 1 or 0 to bits as the basis for nearly all of today’s systems. Quantum technology is based on quantum mechanics, a branch of physics for describing the behavior of matter and energy at atomic and sub-atomic levels. This behavior varies widely from deterministic forms of physics, allowing for matter and energy to exist in multiple simultaneous states and interact while interconnected.

Translated into information technologies, quantum properties open up opportunities to tackle difficult and complex challenges with simultaneous operations that would break most digital systems. Many of those challenges are complex scientific issues, such as discovering new drugs or addressing climate change. This increased power and sophistication can also focus on encryption, making quantum technology both a threat and a defense against hostile actors. In April, Science & Enterprise reported on the launch of Duality in Chicago, the first incubator program in the U.S. for start-up enterprises developing quantum technologies.

Statista includes estimates for the quantum computing market in this year’s Digital Economy Compass, a paid report. The company calculates the worldwide market in 2020 for quantum computing at $260 million, growing steadily through the decade, reaching more than $9 billion by 2030. Statista’s projections translate into a compound annual growth rate of 43 percent over that period.

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