Experts 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 a CAGR of 50.9% from 2021 to 2027. The forecast includes quantum computing as a service and related services.
According to IDC, market growth over the forecast period will be driven by major breakthroughs in quantum computing technology, the emergence of quantum computing as a service infrastructure, and the growth of high performance computing workloads suitable for quantum technologies.
IDC expects investment in the quantum computing market to grow by an average of 11.3% per year over the period indicated above, reaching nearly $ 16.4 billion by the end of 2027. This amount includes investments made by public and private institutions, public spending around the world, internal allocations (R&D spending) by technology and service providers, and external funding from venture capitalists and private equity firms.
As with any revolutionary technology of the past several decades, the industry will spend billions of dollars making it familiar and ready for mass adoption. IDC analysts expect the investment to replace the current limited-capacity quantum computers with next-generation systems, resulting in the development of new use cases and market segments. This will accelerate the adoption of quantum computing for a competitive advantage. As a result, consumer spending will skyrocket in the quantum computing market by the end of the forecast period.
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.