Quantum tech revenue to surge from $2.7bn to $9.4bn

A new study from Juniper Research has revealed that commercial revenue from quantum technology is projected to increase significantly, from $2.7 billion in 2024 to $9.4 billion by 2030.

The study, however, also forecasts that the number of quantum computers deployed by 2030 will only reach approximately 300, a reflection of the early stage of the market and the high costs associated with setting up such technology.

Quantum computing, which utilises principles of quantum mechanics to process information more rapidly than classical computers, represents a transformative technological advancement. Despite this, the study anticipates the return on investment in quantum technology will only reach 6% by the end of the decade. Investment in the sector is expected to surpass $29 billion in 2030 alone.

The report identifies quantum cloud solutions as an immediate revenue opportunity. Due to the relatively low number of quantum computers expected to be deployed, remote connectivity will be crucial for enterprise users who wish to access quantum computing capabilities. The study encourages quantum service providers to maximise their potential by leveraging quantum-hybrid computing solutions, which utilise both quantum and classical computers.

This approach can mitigate environmental noise and reduce costs compared to pure quantum computers, thereby providing a commercially viable solution for enterprises.

One of the key findings from Juniper Research is the potential for fast returns on investment through quantum encryption technologies, such as quantum key distribution. The development of quantum computing entails more stringent security requirements, especially in sectors like banking and finance. The provision of quantum-secure data encryption is deemed essential for capturing market growth and achieving a rapid return on investment.

The research suite provides a comprehensive assessment of the quantum market to date and includes market analysis along with in-depth forecasts covering 60 countries. The dataset comprises over 29,000 market statistics over a six-year period and features a 'Future Leaders Index' as well as key monetisation analyses to evaluate current and future market opportunities.

Juniper Research's Quantum Market research suite is designed to provide a detailed and insightful analysis of this emerging market, enabling governments, quantum computing service providers, and technology vendors to understand future growth in the market. Given the impact of increased funding from governments in the wake of a slow-down on private investments, key trends such as hybrid computing and quantum cloud solutions are discussed, as well as the competitive nature of the quantum market.

Juniper Research provides market intelligence and advisory services to the global IoT sector, and is retained by many network operators and technology platforms.