A new study from Juniper Research, the foremost experts in technology markets, has found quantum technology commercial revenue will rise from $2.7 billion in 2024 to $9.4 billion in 2030. However, the study also predicts the number of quantum computers deployed by 2030 will only reach approximately 300, reflecting the very early stage of the market and high set-up costs.
Quantum computing uses the principles of quantum mechanics to process information faster than classical computers.
Quantum-Hybrid Solutions Key to Return on Investment
Despite high revenue projections, the study forecasts the return on investment in quantum technology will reach only 6% by 2030, with total investment surpassing $29 billion in 2030 alone. The study identified quantum cloud solutions as the strongest immediate revenue opportunity. Given the low number of quantum computers deployed, remote connectivity will be essential for enterprise users who wish to gain access to quantum computers.
The study urges quantum service providers to maximise revenue by harnessing quantum-hybrid computing solutions. These solutions harness the power of both quantum and classical computers; resulting in less environmental noise and cost compared to pure quantum computers. Consequently, these computers will provide an immediate commercial quantum solution to enterprises at a lower cost, before pure quantum computers become commercialised.
Specifically, the study identified quantum encryption technologies, including quantum key distribution, as providing fastest return on investment for enterprises. This is because the development of quantum computing necessitates stricter security requirements, particularly in industries such as banking and finance. Offering quantum-secure data encryption will be essential to capitalising on market growth and achieving a rapid return on investment.
Find out more about the new report: Global Quantum Technology Market 2024-2030, or download a free sample.
