Quantum Computing

Quantum Computing is a technology that uses the principles of quantum physics to perform computations beyond the reach of classical computers. Quantum computers use quantum bits, or qubits, in superpositions of two states, such as 0 and 1. This allows quantum computers to explore multiple possibilities simultaneously and solve complex problems faster and more efficiently than classical computers.

IBM appears to be the current leader in Quantum Computing with Condor, a 1,121-qubit quantum processor unveiled during the IBM Quantum Summit 2023 held on December 4, 2023. The company has also published an ambitious 10-year quantum computing roadmap. Condor is the second largest quantum processor (in terms of qubits), just short of the 1,125-qubit quantum processor by Atom Computing, created in October 2023. Condor performs similarly to its predecessor, the IBM Osprey, but with a 50% increase in qubit density compared to the Osprey and over a mile of high-density cryogenic flex IO wiring. Other companies worth mentioning are Amazon, AT&T, Atos, Baidu, D-Wave Systems, Horizon Quantum Computing, Intel, IonQ, which is building trapped-ion quantum computers, Microsoft, PsiQuantum, which uses photons as its qubits, Quantum Circuits, Rigetti Computing, and Xanadu. A more exhaustive list of vendors is here.

The market for quantum computing could grow rapidly in the next decade as the technology matures and becomes more accessible. According to various sources, the global quantum computing market size was valued at around US$1 billion in 2022 and is projected to reach US$6.5 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 32.1%. Some of the factors driving the market growth are the increasing investments by governments, corporations, and venture capitalists in quantum technologies, the rising demand for quantum computing in various sectors such as healthcare, finance, energy, and defense, and the development of quantum algorithms and applications that can leverage the quantum advantage.

The companies discussed above offer quantum computing hardware, software, and services and develop quantum platforms and networks that enable quantum computing as a service (QCaaS) for various users and use cases. Some current and potential quantum computing applications are cryptography, drug discovery, machine learning, optimization, quantum chemistry, and simulation. However, many challenges and limitations need to be overcome, such as the scalability, reliability, and error correction of quantum systems, the integration of quantum and classical computing, the standardization and regulation of quantum technologies, and the ethical and social implications of quantum computing. Most experts believe quantum computing will probably become mature and usable by 2030.

Cabot Partners offers customized strategic advisory services to:

  • IT Solution Providers: Help build and grow desired revenue and profitability of their Quantum Computing platforms by delivering white papers, market/competitive/quantitative assessments, Total Value of Ownership (TVO) Studies, 3D animation videos, webinars, solution briefs, eBooks…etc.
  • Enterprises: Help navigate the complexities of the technology landscape, gain competitive advantage, and optimize their Quantum Computing initiatives
To find out how we can assist you, please contact info@cabotpartners.com