Justin Sullivan | Getty Images
Source: Justin Sullivan | Getty Images

Alphabet (Google) spins out its 6-year old quantum tech group, Sandbox AQ

The Rise of Quantum Computing

Evolving technologies, billions of dollars in investment, the emergence of new startups in quantum computing, and a possibility of quantum capable systems by 2030 – these signs show why quantum computing is touted as the next big thing. According to a market research report by Global News Wire, the quantum technology market worldwide is expected to reach a valuation of $42.4 billion by 2027. Below we have highlighted key findings from the report:

  • Quantum computing is expected to grow at a CAGR of around 40% and reach $16.1 billion by 2027
  • Germany (with a $3.6 billion market size) and China (with a $5.41 billion market size) will lead the European and APAC quantum technology market respectively.
  • The global Quantum sensing market will be twice the size of the quantum imaging market and reach $989 million by 2027
  • North America will become the largest market for quantum technologies
Source: McKinsey
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