Companies to allocate more IT budget for quantum computing: IDC

Investments in quantum computing are expected to increase in the next 24 months, according to new survey results from International Data Corporation (IDC).
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The number of organizations allocating more than 17 percent of their IT budgets for the quantum computing technology is expected to rise from 7 percent in 2021 to 19 percent in 2023.

These investments will be driven by organizations seeking to achieve a competitive advantage by using quantum computing technology to improve and accelerate business processes with enhanced AI capabilities, better security, and optimized algorithms.

At the start of 2021, one fifth of companies interested in quantum computing technology reported current usage and two thirds expect to be experimenting with this technology in the next 18-24 months. This growth is due to enterprises investing in cloud-based platforms that provide access to quantum computing hardware and software, hiring quantum specialists, training quantum developers, and collaborating with quantum vendors to develop new business solutions.

Complex technology, skillset limitations, lack of available resources, and cost deter some organizations from investing in quantum computing technology.

Quantum computing vendors, select cloud-service providers, and independent software vendors are offering quantum cloud-based solutions that allow organizations to experiment with this technology.

Combined, quantum computing infrastructure as a service (QCIaaS), platform as a service (QCPaaS), and software as a service (QCSaaS) offerings provide organizations access to the quantum computing technology, applications, technical support, and other resources needed to begin the quantum journey.

Technical and business consultancy services are also gaining popularity. These services help clients determine the value of adopting quantum computing technology, develop and test quantum algorithms, and become more resilient in a post-quantum era.

“Innovative companies across industries have understood that the identification and development of quantum business use cases should start right away,” said Stefano Perini, senior research analyst, European Quantum Computing Launchpad co-lead at IDC.