Published March 2023 | 300 pages, 30 tables, 16 figures | Download table of contents
Quantum computing is still at an early stage, but the market is developing rapidly with public and private investment of over $40 billion to date. Large corporations, governments and start-ups are investing billions for what is expected to be a trillion dollar market within the report timeframe.
Start-ups raised a total of $1.85 billion in 2022, up from $1.67 billion in 2021 with large-scale funding continuing into 2023, including:
- Quantum Motion: £42 M
- Quantum Brilliance: $18 M
- PASQAL: €100 M
- Welinq: €5 M
- Quantum Machines: $20 M
- Oxford Ionics: £30 M
Development of quantum computing will enable innovations in markets such as drug discovery, chemicals, supply chain management, financial services and telecommunications. As well as focusing on quantum computing, this report also covers related areas of quantum technologies including communications and sensing.
Report contents include:
- Analysis of quantum computing and related technologies. including hardware, software, cloud-based services, chemistry and AI for chemicals & biotech, quantum cryptography, quantum communications, and quantum sensing.
- Market analysis of quantum computing in pharma, chemicals, automotive, financial services and other sectors.
- Investment funding 2020-2023.
- Industry developments 2020-2023.
- Market maps for quantum computing and quantum technologies.
- Value chain.
- Technology and market challenges.
- Global revenues 2023-2043.
- Profiles of 167 quantum computing and technologies companies. Companies profiled include Algorithmiq, Infleqtion, IonQ, Kipu Quantum, Multiverse Computing, Nu Quantum, Origin Quantum, Oxford Ionics, Oxford Quantum Circuits, Pasqal, Planqc, PsiQuantum, Q-CTRL, QuantWare, Quantagonia, QuantrolOx, QuantrolOx, Quantum Bridge Technologies, Quantum Brilliance, Quantum Motion, Qunnect, SCALINQ, TuringQ and Welinq.
1 RESEARCH METHODOLOGY 12
2 TERMS AND DEFINITIONS 13
3 TECHNICAL ANALYSIS 16
- 3.1 What is quantum computing? 16
- 3.1.1 Classical vs quantum computing 16
- 3.1.2 Quantum computing technology 18
- 3.1.3 Quantum algorithms 21
- 3.1.4 Hardware 22
- 3.1.5 Software 24
- 3.1.6 Cloud-based services 26
- 3.2 Quantum computers and processors 27
- 3.2.1 Superconducting qubits 28
- 3.2.1.1 Technology description 28
- 3.2.1.2 Market players 30
- 3.2.2 Optical qubits 32
- 3.2.2.1 Technology description 32
- 3.2.2.2 Market players 34
- 3.2.3 Neutral atom qubits 36
- 3.2.3.1 Technology description 36
- 3.2.3.2 Market players 39
- 3.2.4 Ion traps 40
- 3.2.4.1 Technology description 40
- 3.2.4.2 Market players 44
- 3.2.5 Silicon spin qubit 45
- 3.2.5.1 Technology description 45
- 3.2.5.2 Market players 47
- 3.2.6 Diamond-defect qubits 48
- 3.2.6.1 Technology description 48
- 3.2.6.2 Market players 50
- 3.2.7 Topological qubits 52
- 3.2.7.1 Technology description 52
- 3.2.7.2 Market players 53
- 3.2.8 Quantum annealers 53
- 3.2.8.1 Technology description 54
- 3.2.8.2 Market players 56
- 3.2.1 Superconducting qubits 28
- 3.3 Quantum computing software 58
- 3.3.1.1 Technology description 59
- 3.3.1.2 Market players 59
- 3.4 Other crossover quantum technologies 60
- 3.4.1 Quantum chemistry and AI 60
- 3.4.1.1 Technology description 60
- 3.4.1.2 Applications 61
- 3.4.1.3 Market players 62
- 3.4.2 Quantum cryptography 66
- 3.4.2.1 Technology description 66
- 3.4.2.2 Applications 67
- 3.4.2.3 Market players 69
- 3.4.3 Quantum communications 72
- 3.4.3.1 Technology description 72
- 3.4.3.2 Applications 73
- 3.4.3.3 Market players 75
- 3.4.4 Quantum sensing 77
- 3.4.4.1 Technology description 77
- 3.4.4.2 Applications 78
- 3.4.4.3 Market players 81
- 3.4.1 Quantum chemistry and AI 60
- 3.5 Technical challenges 84
4 MARKET ANALYSIS 86
- 4.1 The market in 2023 86
- 4.2 Markets and applications for quantum computing 88
- 4.2.1 Pharmaceuticals 89
- 4.2.1.1 Market overview 89
- 4.2.1.2 Market players 91
- 4.2.2 Chemicals 92
- 4.2.2.1 Market overview 92
- 4.2.2.2 Market players 94
- 4.2.3 Automotive 94
- 4.2.3.1 Market overview 94
- 4.2.3.2 Market players 95
- 4.2.4 Financial services 97
- 4.2.4.1 Market overview 97
- 4.2.4.2 Market players 97
- 4.2.5 Other markets 99
- 4.2.1 Pharmaceuticals 89
- 4.3 Investment funding 101
- 4.4 Public funding of quantum computing, by country 104
- 4.5 Quantum computing market map 106
- 4.6 Quantum computing value chain 108
- 4.7 Technology readiness level 109
- 4.8 Industry developments 2020-2023 111
- 4.9 Market map for quantum technologies companies 115
- 4.10 Global market revenues, 2023-2043 117
- 4.11 Market challenges 123
5 COMPANY PROFILES 127 (167 company profiles)
6 REFERENCES 291
List of Tables
- Table 1. Classical vs quantum computing. 16
- Table 2. Superconducting qubit market players. 30
- Table 3. Optical qubit market players. 34
- Table 4. Neural atom qubit market players. 39
- Table 5. Ion traps market players. 44
- Table 6. Silicon spin qubits market players. 47
- Table 7. Diamond-defect qubits market players. 50
- Table 8. Topological qubit market players. 53
- Table 9. Quantum annealers market players. 56
- Table 10. Quantum computing software market players. 59
- Table 11. Applications in quantum chemistry and AI. 61
- Table 12. Market players in quantum chemistry and AI. 62
- Table 13. Applications in quantum cryptography. 67
- Table 14. Market players in quantum cryptography. 69
- Table 15. Applications in quantum communications. 73
- Table 16. Market players in quantum communications. 75
- Table 17. Applications in quantum sensors. 78
- Table 18. Market players in quantum sensors. 81
- Table 19. Technical challenges in quantum computing. 84
- Table 20. Markets and applications for quantum computing. 88
- Table 21. Market players in quantum computing for pharmaceuticals. 91
- Table 22. Market players in quantum computing for chemicals. 94
- Table 23. Market players in quantum computing for automotive. 95
- Table 24. Market players in quantum computing for financial services 98
- Table 25. Other markets for quantum computing. 99
- Table 26. Quantum computing investment funding. 101
- Table 27. Public funding of quantum computing, by country. 104
- Table 28. Quantum computing industry developments 2020-2023. 111
- Table 29. Global market for quantum computing, various scenarios, 2023-2043 (billions USD). 117
- Table 30. Global market for other quantum technologies, various scenarios, 2023-2043 (billions USD). 121
- Table 31. Market challenges in quantum computing. 123
List of Figures
- Figure 1. Split-gate Transistor. 19
- Figure 2. Superconducting quantum computer. 29
- Figure 3. Neutral atoms (green dots) arranged in various configurations. 37
- Figure 4. Ion-trap quantum computer. 41
- Figure 5. Operating principle of RF Paul trap. 42
- Figure 6. CMOS silicon spin qubit. 45
- Figure 7. Silicon quantum dot qubits. 46
- Figure 8. D-Wave quantum annealer. 55
- Figure 9. Quantum computing investment funding 2010-2022. 102
- Figure 10. Quantum computing market map. 107
- Figure 11. Quantum computing value chain. 108
- Figure 12. Quantum computing TRL. 109
- Figure 13. Market map for quantum computing industry. 116
- Figure 14. Global market for quantum computing, various scenarios, 2023-2043 (billions USD). 120
- Figure 15. Global market for other quantum technologies, various scenarios, 2023-2043 (billions USD). 121
- Figure 16. IBM Q System One quantum computer. 172
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