2021 Storage and Interconnect Multi-Client Study Key Findings

According to a recent Hyperion Research study of 135 US quantum computing (QC) technology developers across the academic, commercial and government sectors, the global QC market was worth about $250 million (+/- $30 million) in 2019. Based on an anticipated CAGR of 27% between 2020 and 2024, the global QC market will grow from approximately $320 million in 2020 to $830 million in 2024. On-prem and cloud access QC hardware will comprise about 50% of the global QC market for the next three years, while optimization, physical simulation, and machine learning will near equally divide the algorithm space. This is Hyperion Research's baseline estimate for the rapidly evolving market, and Hyperion Research anticipates providing periodic updates as events, information, and decision-making requirements within the sector dictate.

According to a recent Hyperion Research study of 115 current and interested QC end-users from both HPC and enterprise IT organizations, the majority would consider a wide range of quantum computing (QC) technology and use-case options spanning new QC and QC-inspired applications, as well as speed-ups of existing applications delivered through a mix of QC or hybrid QC/classical systems. Likewise, these same QC buyers/users reported relatively modest expectations for realized performance gains from QC technology: 78% of respondents would see a performance boost of less than 250X as justification for using QC, and 42% would only need 50X or below. Such expectations bode well for the quantum computing sector writ large as QC developers and suppliers can explore a broad array of quantum technologies in both hardware and software with some assurance that end-users will be open to a span of QC use-case options with relatively modest near-term performance gains.