Revenues generated from quantum computing services will exceed $15 billion by 2028, forecasts ABI Research.
The demand for quantum computing services will be driven by process hungry research and development projects as well as by the emergence of several applications including artificial intelligence algorithms, cyber security encryption, traffic routing and scheduling, protein synthesis, and the design of advanced chemicals and materials.
D-Wave Systems, IBM, and Rigetti Computing are few of the vendors that have commercial quantum computing systems. D-Wave System sells quantum computer to government agencies, aerospace, and cybersecurity vendors.
D-Wave System’s quantum computer based on adiabatic quantum computation is constrained in terms of computational capabilities as compared to the rest of its counterparts, said ABI Research.
The report said IBM, Rigetti Computing and other cloud computing giants such as Alibaba, Google, Intel, and Microsoft are opting for a quantum computing system based on the quantum gate model.
Excessive cost and extremely restrictive physical implementation will limit quantum computing technology to government, public, and military agencies as well as major enterprises and cloud computing giants.
“The quantum computing technology will be made available to the public via an as-a-service business model,” said Lian Jye Su, principal analyst at ABI Research.