The global quantum computing sector is poised for substantial growth, with experts predicting a surge from approximately $930 million in 2023 to an impressive $6.5 billion by 2030. However, as this transformative technology advances, certain markets appear to be better positioned for growth than others.
In a significant development, IBM has recently completed the installation of a groundbreaking 127-qubit quantum computing system at the University of Tokyo, marking the first "utility-scale" quantum system in the region. Named the "Quantum System One" and equipped with IBM's Eagle processor, this cutting-edge system is set to drive research across diverse fields, including bioinformatics, materials science, and finance.
While Japan celebrates the benefits of collaboration with a U.S. quantum computing partner, China's quantum computing landscape takes a different turn. Alibaba, China's second-largest technology firm, has decided to close its quantum computing laboratory, attributing the move to cost-cutting measures. Reports suggest that equipment from the laboratory will be donated to Zhejiang University. This decision follows the cancellation of a planned cloud computing spinoff, with Alibaba citing the partial United States export ban on computer chips to China as a contributing factor to the prevailing "uncertainty."
Estimates from Fortune Business Insights indicate that the quantum computing sector is expected to witness remarkable growth, surpassing $5.5 billion between 2023 and 2030. However, concerns linger regarding the state of quantum computing research beyond the dominant players, the U.S. and China.
Koen Bertels, founder of quantum computing accelerator QBee and a professor at the University of Ghent in Belgium, raises an alarm about Europe's position in the quantum computing race. Expressing worry over Europe being behind in funding, talent, and strategy, Bertels emphasizes that Europe is not only competing against the U.S. but also facing challenges in maintaining its standing in the evolving quantum computing landscape.
As the quantum computing sector charts its course toward unprecedented growth, the dynamics of collaboration, competition, and regional strategies come into sharper focus. The intertwining narratives of advancements in Japan, challenges in China, and concerns in Europe underscore the multifaceted nature of the global quantum computing landscape.
