CROZET, Va., Jan. 21, 2020 (GLOBE NEWSWIRE) — According to a new report from Inside Quantum Technology (IQT), the market for quantum networking will reach $5.5 billion by 2025. This IQT report, “Quantum Networks: A Ten-Year Forecast and Opportunity Analysis” https://www.insidequantumtechnology.com/product/quantum-networks-a-ten-year-forecast-and-opportunity-analysis/ provides extensive ten-year forecasts of demand for quantum network equipment, software and services in both volume and value terms.
IQT believes that today’s quantum networking revenues come primarily from quantum key distribution (QK), quantum cloud computing and quantum sensor networks. Eventually, these strands will merge into a Quantum Internet. Where the Internet carries bits, the Quantum Internet will carry qubits. For such a Quantum Internet to evolve, quantum repeaters will have to be developed.
According to Lawrence Gasman, President of Inside Quantum Technology, “The time has come when the rapidly developing quantum technology industry needs to quantify the opportunities coming out of quantum networking.” Gasman thinks this new report will prove invaluable to business development and marketing executives, as well as product managers in the quantum technology, networking, IT and cybersecurity sectors. It will also be an essential resource for investors seeking to fund the quantum technology revolution.
What’s in the Report
This report provides the reader with Inside Quantum Technology’s very latest forecasts of quantum networking markets, updated from our earlier forecasts. For example, in quantum computer networking, the report offers ten-year projections with a breakdown by end user types, and by hardware, software and service. Similar analysis is also provided for QKD and sensor networks.
The ten-year forecasts are in both volume and value terms and include projections of nodes shipped, end user demand, equipment and services. The report also includes a roadmap of how we will reach the Quantum Internet including a separate forecast of quantum repeaters.
From the Report
- Quantum Key Distribution (QKD) adds unbreakable coding of key distribution to public key encryption, making it virtually invulnerable. QKD is the first significant revenue source to come from the emerging quantum Internet and will create almost $150 million in revenues in 2020. QKD’s early success is due to potential users — big financial and government organizations — have an immediate need for 100 percent secure encryption.
- Cloud access to quantum computers is core to the business models of many leading quantum computer companies – such as IBM, Microsoft and Rigetti – as well as several leading academic institutions. By 2025, revenues from “quantum clouds” are expected to exceed $2 billion. Although some large research and government organizations are buying quantum computers for on-premises use, the high cost of the machines coupled with the immaturity of the technology means that the majority of quantum users are accessing quantum through clouds.
- Quantum sensor networks promise enhanced navigation and positioning; more sensitive medical imaging modalities, etc. This is a very diverse area in terms of both the range of applications and the maturity of the technology. However, by 2025 revenues from quantum sensors are expected to reach about $1.2 billion in revenues.
This report is based on personal and telephone interviews as well as attendance at major conferences including a recent ITU quantum network conference in Shanghai at which the Inside Quantum Technology president was a featured speaker. We have also utilized insights gained from speakers at Inside Quantum Technology’s own quantum conferences in the US and Europe.
About Inside Quantum Technology:
Inside Quantum Technology is the first industry analyst firm to be entirely dedicated to meeting the strategic information and analysis needs of the emerging quantum technology sector. In addition to publishing reports on critical business opportunities in the quantum technology sector, Inside Quantum Technology runs a popular daily newsfeed (Quantum Technology News) on business-related happenings in quantum technology. This free newsfeed can be subscribed to at https://www.insidequantumtechnology.com/quantum-news/
Inside Quantum Technology also organizes major conferences on quantum technology in both Europe. The next Inside Quantum Technology conference will be held in New York, April 2-3, 2020 (See: https://iqtevent.com). You can also follow Inside Quantum Technology on Twitter and on LinkedIn where we discuss technology trends, company announcements and the industry’s on- going progress.
Contact:
Lawrence Gasman
Telephone: (434)825-1311
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e93c5da0-7b47-40fa-853a-e6da37821cf7
