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The Boom of Quantum Computing and the Economy of Innovation

by 8 September 2023No Comments

The Boom of Quantum Computer and the Economy of Innovation

The sector of quantum technology is experiencing exponential growth, with an estimated value expected to reach an impressive $106 billion by 2040. This figure is especially notable when you consider that it was around $10 billion at the end of 2022. A recent report from McKinsey has highlighted the potential of this emerging technology, noting that it could generate $1.27 trillion in economic value by 2035 in key industries such as automotive, chemicals, financial services and life sciences.

Financing and Investments: A Global Panorama

When it comes to financing this new technological frontier, the picture is equally promising. Quantum startups raised a total of $2.35 billion in 2022. China leads the way in public investment, spending more than $15 billion. Europe and the United States follow with 8.4 and 3.7 billion respectively. Interestingly, the United States has announced additional investments of $1.8 billion in 2022.

The Importance of Quantum Computing

Quantum computing represents the majority (approximately 90%) of the expected revenue in the quantum technology sector by 2040. This branch relies on the laws of quantum mechanics to deliver exponential increases in performance in data analysis processes, enabling new paradigms of calculation. Other sub-sectors of quantum technology include quantum communications, which offers encrypted transfer of information, and quantum sensing, which involves highly sensitive sensors.

Industrial Impact and Sector Revolution

Quantum technologies are emerging as powerful tools for transforming entire industries. From advanced medicine to finance and telecommunications, the potential is enormous. Quantum start-ups are gaining increasing interest from investors, with significant investments in advanced hardware, photonic networks and supercomputing.

Future Challenges and Trends

Despite the optimism, there are some concerns. The number of new businesses specializing in quantum technology has declined, with only 19 new startups founded in 2022 versus 41 in 2021. Additionally, the number of patents in the field decreased by 61% in 2022 compared to the previous year. This data suggests that investors are currently more interested in established companies rather than early-stage startups.

The Crucial Role of Specialized Talents

A key factor in the long-term success of the quantum technology sector will be the availability of specialized talent. Universities are already responding to growing demand, with the number of graduate programs in quantum technologies almost doubling in the last year. Skills shortages remain a challenge, but with a 55% increase in the number of graduates in quantum technologies, the outlook for the future looks positive.

In summary, quantum computing and related technologies represent one of the most promising frontiers of technological innovation. With growing investments and growing interest across several industry sectors, the stage is set for a revolution driven by this exciting new technology.

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