Global Quantum Computing hardware market to surpass $9.1B by 2028

Aug. 22, 2023
The market's growth will be driven by advancements in technology, research and development efforts, and potential solutions facilitated by quantum computing.

Driven by the government, energy, and transportation verticals, the global market for quantum computing hardware, according to a new report by Research and Markets, is projected to exceed $9.1 billion by 2028. These market segments will use quantum computing for various applications, including simulation, optimization, and sampling.

The research firm forecasts that managed Quantum Computing services will reach $328 million by 2028 with a 47.3% CAGR. Deployment, maintenance, and consulting are critical professional services in the quantum computing market.

Likewise, Quantum computing based on superconducting (cooling) loops technology is forecast to reach $4.5 billion during the same period.

Quantum computing uses the unique capabilities of quantum bits (qubits) to perform computational feats that are orders of magnitude greater than conventional methods. Qubits can exist in multiple states simultaneously due to the principles of quantum physics, enabling greater processing power than the binary representation of data used in classical computing.

Quantum computing is expected to support various capabilities, including:

·      Ultra-Secure Data and Communications: Quantum teleportation allows encrypted data to follow multiple paths, enhancing security.

·      Super-Dense Data and Communications: Significantly denser encoding will send more information from point A to point B.

“The impact of quantum computing on data processing, communications, digital commerce, security, and the internet is anticipated to be transformative for the ICT sector,” wrote the research firm. “Quantum computing is also expected to disrupt various industries, from government and defense to logistics and manufacturing.”

While Quantum computing is showing potential, the near-term challenge is to maintain qubit stability, as they are affected by molecules' constant motion. Some solutions to these issues involve super-cooling methods like cryogenics, but room-temperature quantum computers using photonic qubits are also being explored.

The research firm said, "Once these challenges are overcome, quantum computing will become more mainstream for solving specific problems.” 

For related articles, visit the Business Topic Center.

For more information on high-speed transmission systems and suppliers, visit the Lightwave Buyer’s Guide.

To stay abreast of fiber network deployments, subscribe to Lightwave’s Service Providers and Datacom/Data Center newsletters.

About the Author

Sean Buckley

Sean is responsible for establishing and executing the editorial strategies of Lightwave and Broadband Technology Report across their websites, email newsletters, events, and other information products.

Sponsored Recommendations

New Optical Wavelength Service Trends

July 1, 2024
Discover how optical wavelength services are reshaping the telecom landscape, driven by rapid expansion and adoption of high-speed connections exceeding 100 Gbps, championed by...

ON TOPIC: Innovation in Optical Components

July 2, 2024
Lightwave’s latest on-topic eBook, sponsored by Anritsu, will address innovation in optical components. The eBook looks at various topics, including PCIe (Peripheral...

Data Center Interconnection

June 18, 2024
Join us for an interactive discussion on the growing data center interconnection market. Learn about the role of coherent pluggable optics, new connectivity technologies, and ...

The Journey to 1.6 Terabit Ethernet

May 24, 2024
Embark on a journey into the future of connectivity as the leaders of the IEEE P802.3dj Task Force unveil the groundbreaking strides towards 1.6 Terabit Ethernet, revolutionizing...