Customer spending on quantum computing is forecast to grow from $412 million in 2020 to $8.6 billion in 2027 – representing a 6-year CAGR of 50.9 percent over the 2021-2027, IDC said.
The forecast from IDC includes core quantum computing as a service as well as enabling and adjacent quantum computing as a service.
Innovations in quantum computing technology, a quantum computing as a service infrastructure and platform market, and the growth of performance intensive computing workloads suitable for quantum technology will drive the majority of the market growth over the forecast period.
IDC expects investments in the quantum computing market will grow at a 6-year CAGR (2021-2027) of 11.3 percent and reach nearly $16.4 billion by the end of 2027. This includes investments made by public and privately funded institutions, government spending, internal allocation (R&D spend) from technology and services vendors, and external funding from venture capitalists and private equity firms.
These investments will cause current limited quantum computing capabilities to be replaced by a new generation of quantum computing solutions, leading to the development of new use cases and market segments that will accelerate the adoption of quantum computing to gain a competitive advantage.
“For many critical problems, classical computing will run out of steam in the next decade and we will see quantum computing take over as the next generation of performance-intensive computing,” said Peter Rutten, global research lead for performance intensive computing at IDC.