
Key Takeaways from QC Market Study: Global Quantum Computing Market Projected to Grow to Over $800 million by 2024
$5,000.00
Authors: Bob Sorensen and Earl Joseph
Publication Date: October 2020
Length: 7 pages
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.
Related Products
- 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.
US and China S&T Long-Term Plan: Different Visions for Global Leadership
Bob Sorensen
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:
March 2021 | Special Analysis
Looking at 2020 and Beyond: Key Considerations and Recommendations for HPC Modernization Efforts
Bob Sorensen
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.
December 2019 | Special Analysis