The Current Quantum Computing Supremacy Race is Projected to Propel the Quantum Computing Market to $10.7 Billion by 2024

WASHINGTON DC, May 29, 2017  

A recent report reveals that we are in the midst of a “Quantum Computing Supremacy Race,” one that will result in groundbreaking computing power, enabling disruptive new quantum computing technologies. Those have the potential to change long-held dynamics in commerce, intelligence, military affairs, and strategic balance of power.

According to the 2-volume, 529-page, 242 figures & tables landmark report, this race is projected to propel the Quantum Computing Technologies & Global Market to $10.7 billion by 2024, out of which $8.45 billion stemming from product sales and services and $2.25 billion from Gov. RDT&E programs and funding.

If you have been paying attention to the news on quantum computing and the evolution of industrial and national efforts towards realizing a scalable, fault-tolerant quantum computer that can tackle problems unmanageable to current supercomputing capabilities – then you know that something big is stirring throughout the quantum world.

Eighteen of the world’s biggest corporations and dozens of government agencies are working on quantum computing or partnering with startups such as D-Wave. Furthermore, On May 3, 2017, Xinhua, the official press agency of the People’s Republic of China, surprised the Quantum Computing community by announcing that “Chinese scientists have built the world’s first quantum computing machine that goes far beyond the early classical — or conventional — computers, paving the way to the ultimate realization of quantum computing.”

Near-term expectations for quantum computing range from solving optimization problems, quantum-encrypted communications, artificial intelligence, smart manufacturing & logistics and smart retail, through quantum computing in the cloud and molecular structure research.

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