As with any new exciting technology markets taking shape, the hype cycle tends to run into reality headwinds requiring the market space to reset every now and then, but hopefully grow on an accelerated trajectory eventually.
So where are we with Quantum Computing? Some data points and projections to consider –
- According to Crunchbase data – in 2021, VC-backed quantum startups raised over $823 million which was a 70 percent increase from 2020.
- A larger driver for investment has been public and government funding in the quantum computing space. McKinsey estimates that there is about $30.3 Billion in announced government global spending in the this space with China ($15.3 B) and European Union ($7.2 B) leading the way, followed by the US ($1.9 B).
- Sankar Das Sarma, a well-known researcher in the space and director of the Condensed Matter Theory Center, makes a strong case for the hype in this MIT Tech Review article.
- On balance, there are reasons to believe there is acceleration if you consider some of the above data points in the context of ongoing news from the industry. Some recent examples – VC funding (ColdQuanta, Classiq), Customer Wins (IonQ, DLR deal), Use-Cases (Qandela, Multiverse, Classiq, Xanadu), Product/Technology News (Rigetti, Toshiba) and other news.
November 2022