Quantum computing investments on the rise

Investments in quantum computing are expected to increase in the next 24 months, according to the survey results from IDC.

quantum computing investments

The number of organizations allocating more than 17% of their annual IT budgets for this technology is expected to rise from 7% in 2021 to an estimated 19% in 2023. These investments will be driven by organizations seeking to achieve a competitive advantage by using quantum computing technology to improve and accelerate business processes with enhanced AI capabilities, better security, and optimized algorithms.

Companies increasingly interested in quantum computing

Recent survey findings indicate that, at the start of 2021, one fifth of companies interested in quantum computing technology reported current usage and two thirds expect to be experimenting with this technology in the next 18-24 months. This growth is due to global enterprises investing in cloud-based platforms that provide access to quantum computing hardware and software, hiring quantum specialists, training quantum developers, and collaborating with quantum vendors to develop new business solutions.

Complex technology, skillset limitations, lack of available resources, and cost deter some organizations from investing in quantum computing technology. To ease these concerns, quantum computing vendors, select cloud-service providers, and independent software vendors are offering quantum cloud-based solutions that allow organizations to experiment with this technology.

Combined, quantum computing infrastructure as a service (QCIaaS), platform as a service (QCPaaS), and software as a service (QCSaaS) offerings provide organizations access to the quantum computing technology, applications, technical support, and other resources needed to begin the quantum journey.

Technical and business consultancy services also gaining popularity

These services help clients determine the value of adopting quantum computing technology, develop and test quantum algorithms, and become more resilient in a post-quantum era.

“Quantum computing is the future industry and infrastructure disruptor for organizations looking to use large amounts of data, artificial intelligence, and machine learning to accelerate real-time business intelligence and innovate product development.

“Many organizations — from many industries — are already experimenting with its potential today to gain a competitive advantage tomorrow,” said Heather West, senior research analyst, Infrastructure Systems, Platforms, and Technology at IDC. “Organizations interested in quantum computing should not be deterred from investing in this technology as it is likely to become an industry disruptor.”

“Even though quantum computing is still in a nascent stage, the interest as well as the number of European companies engaging with quantum projects is constantly growing. The most innovative companies across industries have understood that the identification and development of quantum business use cases should start right away,” said Stefano Perini, senior research analyst, European Quantum Computing Launchpad co-lead at IDC.

“This push is hence progressively contributing to the development of an actual European quantum computing market which is growing year on year.”

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