Quantum Computing Commercialization Gains Momentum as Industry Races to Secure Error Rates, Logical Qubits, and Scalability
TECHWORLD ·
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The quantum computing market is growing on the back of surging government and private investment.
IDC forecast that quantum-related spending will rise 37% in 2024-2025 and that total spending will reach USD 17.3 billion by 2029.
The governments of the U.S., China, and South Korea are expanding investment in quantum technology as a strategic field, while industry competition is shifting from qubit counts to error correction and logical qubits.
Quantum computing commercialization is gaining momentum. The quantum computing market is also accelerating, driven by a surge in government and private investment. Quantum computing has computational power based on the principles of quantum mechanics, and potential applications are being discussed in cryptography, pharmaceuticals, aerospace, and finance. Accordingly, the pace of technology development and commercialization efforts is also picking up.
Amid this trend, the industry's competitive focus is also shifting. Competition centered simply on increasing the number of qubits is weakening, while rivalry is concentrating on error correction, logical qubits, and system scalability. This reflects a change aimed at securing technologies for actual industrial use.
IDC's report, "Global Quantum Computing Market Outlook 2025-2029," identified government investment as a key growth driver. It also forecast that quantum-related spending will rise 37% in 2024-2025, driven by technological advances in error correction and modular quantum architectures. The report projected that the quantum computing market will post a compound annual growth rate of 43% and that total quantum computing spending will reach USD 17.3 billion by 2029.
Major global powers such as the U.S. and China are defining quantum computing as a national strategic technology and security asset and expanding investment. Recent investment priorities have shifted beyond basic research to solving the technical challenges needed for commercialization.
The U.S. has made quantum computing a national priority. In May, the U.S. Department of Commerce signed letters of intent for a federal incentive package worth a total of USD 2.013 billion targeting 2 quantum foundries and 7 quantum computing companies, in a measure based on the CHIPS Act. In June, the U.S. also announced 2 executive orders aimed at accelerating the commercialization and deployment of quantum technologies.
China is accelerating the strategic development of quantum technologies by placing them among the top future industries in its national mid- to long-term plans. China has established the National Laboratory for Quantum Information Sciences (NLQIS) in Hefei and is pushing ahead with building research infrastructure for quantum information science through NLQIS. Although China's specific investment scale has not been disclosed, industry sources say a single investment of about CNY 10 billion was made for the establishment of NLQIS and the initial infrastructure buildout.
Since 2023, the South Korean government has designated quantum technology as one of the 12 national strategic technologies and continued to invest in it. The government plans to invest at least more than KRW 3 trillion in public-private funds by 2035. It also officially unveiled this year's first comprehensive plan for fostering quantum science and technology and the quantum industry, setting official goals of becoming the world's No. 1 quantum chip producer by 2035, cultivating 10,000 quantum specialists, and securing 2,000 quantum-utilizing companies. In addition, it is also pushing ahead with a competition to establish K-Quantum clusters.
Along with this increase in investment, technological competition in the industry is also intensifying. Companies are focusing on strengthening error correction technology and improving qubit quality as key tasks for quantum computing commercialization. Industry observers say the competitive landscape is moving away from a simple race to expand qubit counts. The axis of competition is also shifting toward error correction and the stabilization of logical qubits to secure practical business computing capabilities.
Quantum computing hardware approaches vary, including superconducting, trapped-ion, neutral-atom, photonic, and silicon spin systems. Each hardware approach has different characteristics, strengths, and weaknesses. Accordingly, technology development to overcome the limitations of each approach is also continuing.
A Quandela representative said the debate over the maturity of quantum technology has moved beyond speculation about its potential and toward discussions about when it will be realized. The representative added that breakthroughs capable of measuring actual ROI are expected to emerge between 2030 and 2035.
Looking ahead, the quantum computing market is expected to take the form of multiple technologies coexisting rather than a single dominant approach. This is because the strengths and weaknesses of each approach differ, and the technologies suited to each application area are also different. Industry observers expect that a small number of players will compete in each area, while users will use different quantum computing resources as needed.
Source: TECHWORLD · Kim Hye-jin
Original: https://www.epnc.co.kr/news/articleView.html?idxno=407478
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Source: TECHWORLD
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