IDC: Investments in Quantum Computing to Increase in Next 24 Months

Investments in quantum computing are projected to increase in the next 24 months, according to IDC. 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, says IDC, by using quantum computing technology to improve and accelerate business processes with enhanced AI capabilities, better security, and optimized algorithms.

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.

Quantum-Computing-Infrastructure-as-a-Service

Photo Heather West, senior research analyst, Infrastructure Systems, Platforms, and Technology at IDC
“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,” said Heather West, senior research analyst, Infrastructure Systems, Platforms, and Technology at IDC.

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

Artificial Intelligence, Machine Learning

“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,” said Heather West, senior research analyst, Infrastructure Systems, Platforms, and Technology at IDC. “Many organizations – from many industries – are already experimenting with its potential today to gain a competitive advantage tomorrow. 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.”

The survey is part of IDC’s Quantum Computing research, which is available through IDC’s Performance Intensive Computing CIS. This research includes qualitative and quantitative research focusing on end-user adoption trends, vendor insights and strategies, and quantum computing use cases.

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