Specialists of the analytical company IDC have published their first forecast related to the global quantum computing market. According to this forecast, customer spending on quantum computing will grow from $412 million in 2020 to $8.6 billion in 2027. This means that the average annual growth rate in the period from 2021 to 2027 will be 50.9%. The forecast includes quantum computing as a service and related services.
According to IDC, the growth of the market during the forecast period will stimulate major breakthroughs in quantum computing technology, the formation of quantum computing as a service infrastructure, as well as the growth of computing loads requiring high performance, suitable for quantum technologies.
IDC expects that investments in the quantum computing market during the above period will grow by an average of 11.3% per year and reach almost $16.4 billion by the end of 2027. This amount includes investments made by public and private institutions, government spending worldwide, internal allocation of funds (R&D spending) by technology and service providers, and external financing from venture capitalists and private equity firms.
As with any revolutionary technology of the last few decades, the industry will spend billions of dollars to make it familiar and ready for mass adoption. IDC analysts expect that the investment will lead to the replacement of current quantum computers with limited capabilities with new generation systems, resulting in the development of new use cases and market segments. This will accelerate the introduction of quantum computing to gain a competitive advantage. As a result, by the end of the forecast period, the quantum computing market will experience a sharp increase in consumer spending.
IDC considers 2021 to be a turning point for the industry. Analysts are confident that the capabilities of classical computers to solve many critical problems will be exhausted in the next decade, and quantum computers will become the next generation of high-performance systems.
