The Quantum Economic Development Consortium (QED-C) commissioned Hyperion Research to perform a market survey of 135  US-based quantum computing researchers, developers and suppliers across the academic, commercial and government sectors. Additional data was collected from another survey of 115 additional current and potential quantum computing users worldwide.

The results of the study concluded that the expected quantum computing revenue levels will reach $320 million in 2020 and will grow at a rate of 27% per year to $830 million by 2024. About 50% of the revenue will come from deliveries of on-premise hardware or the providing of quantum computing resources over the cloud.  The remaining 50% will come from the sales of software and services.  The primary use cases expected include optimization, physical simulation, and machine learning in approximate equal amounts.

QED-C is expected to make periodic adjustments to this forecast as new developments and events occur in the future. A summary of the study is available in a news release on the QED-C web site here.  A full copy of the study with additional details is available to QED-C members.

September 30, 2020