Analysts from The Quantum Insider announced the release of its survey of the quantum computing market size and the forecast for the next decade based on input from leading stakeholders in the industry. This quantum computing market report can be accessed here.
We have covered the quantum market from a number of different angles, most recently with reports on Quantum Security and Quantum Computing as a Service. These were based on the triangulation of bottom up and top down analyses and provided detailed estimates.
The most recent quantum computing market survey takes a different approach, garnering feedback from industry participants and quantum investors across the globe.
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Quantum Computing Market Size & Forecast
The analysts consider the quantum market to include hardware components, QCaaS infrastructure, application software and the value generated by end-users.
Currently, the total quantum computing market size is estimated to be $300 million on the low end to a high of $1.3 billion, according to survey respondents.
The forecast is that by 2025, the market will grow from about $3.5 billion to $10 billion. Between 2025 and 2030, that estimate increases to $18 billion on the low end to $65 billion at the top end of expectations.
The range of compound annual growth rate — CAGR — of the total quantum industry is between 70 and 80% from 2021 to 2025 and, from 2025 to 2030, as the market matures, CAGR is predicted to be between 39% to 45%.
The survey also broke down additional quantum computing technologies. Let’s take a look.
Quantum Sensing Market
Quantum sensing includes devices that use a quantum system, quantum properties, or other quantum phenomena to perform a measurement. Examples of devices that use quantum sensors include magnetometers powered by superconducting quantum interference –SQUID — technology and atomic clocks.
The current quantum sensing market estimates are below the $50 million range.
For the next five years, the forecast suggests annual growth rates at 0 to 15 percent.
From now until 2025, the CAGR for the market is expected to explode to between 111% and 134% before moderating to growth rates of between 15% and 25%.
By 2030, experts see a market of between $1 billion to $3 billion.
Quantum Security Market
In overall sizing, the survey respondents estimate that the quantum security market is currently set at between $100 million and about a half billion dollars. That market is expected to grow to between $1.5 billion and $4 billion by 2025 and reaches between $4 billion and $8 billion in 2030.
In 2021 to 2025, the panel expects the CAGR to range from 64% to 97% and between 2025 to 2030, the quantum security market is expected to grow at rates between 15% to 22%.
The survey covers the community’s opinion on the market sizing for quantum technology and was based on data from 40 participants, from a range of backgrounds, as at the end of September 2021.
80% of respondents were not satisfied with their knowledge on the market size for the quantum computing industry.
The survey looked at marketing sizing for quantum computing, quantum sensing and quantum security markets.
Other Insights on Quantum Market
A significant majority of respondents used quantum market sizing information for making strategic decisions yet 80% were not satisfied with their knowledge on the market size for quantum technologies.
Quantum market sizing information helps companies understand their addressable market and market share with 46% of respondents used market sizing information for preparing investor decks Market sizing is often an early page in an investor slide deck to clearly outline the size of the business opportunity.
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For more information on the quantum computing market size, please contact [email protected].