Tel Aviv, NFAPost: The quantum computing market will reach $2.2 Billion by 2026 according to IQT Research’s new report, Quantum Computing: A Seven-year Market Forecast.
The report profiles the strategies of the leading quantum computing vendors and builds a detailed market forecast based on the companies’ plans for the future.
The firms profiled include D-Wave, Google, Honeywell, IBM, Intel, IonQ, Microsoft, NEC, Rigetti, Alibaba, Hitachi, PsiQuantum and QuTech.
In addition to forecasting quantum computing hardware, the report also projects cloud access to quantum computers and third-party software.
Evolution of quantum computing
The report forecasts the following types of computers: superconducting, topological, trapped ion, photonic and annealing. End-user markets covered by the report include government and military, R&D, financial, transport and automotive, pharmaceuticals and chemical, and manufacturing. The report consists of two parts.
The first part is a written analysis of the current state and future evolution of quantum computing. In addition to the profiles mentioned above, this part of Research’s report also discusses the factors that are holding back the growth of the quantum computing chapters.
It also provides profiles of approximately 30 organizations which are currently working with quantum computers in the financial services industry, aerospace and defense, materials and pharmaceutical design, business planning, and healthcare.
The second part of Quantum Computing: A Seven-year Market Forecast is in the form of a spreadsheet with forecasts of production (value and volume) and install base; cloud access revenues (broken out by type of computer technology and end user industry); third-party software (broken out by type of computer and end user industry), along with a breakout of quantum computing revenues by country/region.
Main Findings of report
The number of installed quantum computers will reach around 180 in 2026, with about 45 machines produced in that year. These include both machines installed at the quantum computer companies themselves that are accessed by quantum services as well as customer premises machines.
Cloud access revenues will likely dominate as a revenue source for quantum computing companies, accounting for 75 percent of all quantum computing revenues in 2026. Although in the long run quantum computers may be more widely purchased, today potential end users are more inclined to do quantum computing over the cloud rather than make technologically risky and expensive investments in quantum computing equipment.
In general, no financial organisation that is using quantum computing currently is yet making quantum computing part of its day-to-day operations. Some seem to be very close to making this happen and are hiring staff at a level that makes one think they are on the verge. By 2026, IQT Research expects revenues from cloud access to reach around $410 million, making financial institutions the largest single end-user segment of the quantum access cloud market.
Inside Quantum Technology is the first industry analyst firm to be entirely dedicated to meeting the strategic information and analysis needs of the emerging quantum technology sector. In addition to publishing reports on critical business opportunities in the quantum technology sector, Inside Quantum Technology runs a popular daily newsfeed (Quantum Technology News) on business-related happenings in quantum technology.