Key Takeaways from QC Market Study: Global Quantum Computing Market Projected to Grow to Over $800 million by 2024

As the world's two largest economies and recognized world-class science and technology (S&T) developers, China and the United States are aware of how important technological prowess has become in projecting geopolitical leadership from an economic and national security perspective, and each place significant weight on national S&T polices to help ensure those ends. Recently, the leadership of both China and the United States had occasion to make public their long[1]term strategic S&T visions:

• China's President Xi Jinping highlighted that China is seeking to replace the US as the acknowledged global leader in S&T capability, and Beijing will likely continue its on-going efforts to transform its overall S&T infrastructure from that of a fast follow nation to one of global leadership while reducing its dependency on foreign S&T sources.
• US President Joe Biden emphasized that although the US has a long legacy of world-class technological prowess, emphasis should shift to better position S&T progress to help support key societal imperatives including public health, climate change, and economic inclusiveness. In additional, President Biden charged policymakers with fostering renewed support for R&D funding that not only ensures US S&T primacy going forward but that also fosters the wide base of existing and potential new US commercial entities to quickly turn research breakthroughs into innovative products.

The high performance computing (HPC) sector is in the early stages of a major reinvention, fueled by a confluence of innovation in HPC hardware and system architectures, changing algorithms and application bases, and new access models.