In January we conducted a survey gathering data from various participants involved in the quantum industry. We inquired about general feelings regarding readiness to adopt and invest in quantum and are excited to share our findings. Read the full report here. Let’s dive into some of these findings and what they mean for the industry.
We gathered responses from almost 800 participants worldwide. Most respondents were academics, followed by quantum computing vendors. Approximately 40% of participants are from Europe, 35% are from North America, and the rest are from Asia and other countries. More detailed information regarding the continental breakdown of respondents can be found in the full report. Quantum computing efforts have largely been driven by academics, businesses, and other entities in North America and Europe, which explains this demographic.
For industry experts, the intended uses of quantum computing are for scientific research and development as well as proof of concept or plot projects. There is only a small minority who intend to use quantum computing for practical use. This data falls in line with the consensus that quantum computing is not quite ready for real-world applications. However, it leaves hope for the next few years as some people are already prepared for the operational use of quantum systems.
Although some parties are ready to use quantum operationally, there are major barriers present preventing them from adopting quantum. The three most common barriers to entry are high costs of implementation, lack of a skilled workforce, and unclear business value. If you’re interested in seeing more, our full report offers covers the barriers to adoption broken down by user profile.
At QuEra, we work hard towards tackling these hurdles and progressing towards quantum adoption. Looking at these current obstacles shows a clear path to success we can work towards. With more research, innovation, development, and time, the costs to build and support quantum computing will decrease, inevitably lowering the cost of implementation. By continuing to work with academic institutions and by developing programs catered towards quantum computing professions, a skilled workforce can be developed. The issue of unclear business value is expected with the current relevant infancy of quantum computing. However, as we progress and develop new specific solutions through programs like algorithm co-design, we will adapt, and businesses will identify ROI opportunities.
The budgets for quantum computing programs are, on average, expected to increase by 18.3%. In our in-depth report, a distribution of budget changes by institution is available. We were able to draw conclusions detailing behaviors in specific industries compared to others. The future looks bright as institutions are expecting to see fault-tolerant computing sooner rather than later and will largely be continuing as is or increasing funding. Want to see our in-depth report covering more findings? See here.