Security News > 2021 > May > Quantum computing investments on the rise

Investments in quantum computing are expected to increase in the next 24 months, according to the survey results from IDC. The number of organizations allocating more than 17% of their annual IT budgets for this technology is expected to rise from 7% in 2021 to an estimated 19% in 2023.

This growth is due to global enterprises investing in cloud-based platforms that provide access to quantum computing hardware and software, hiring quantum specialists, training quantum developers, and collaborating with quantum vendors to develop new business solutions.

To ease these concerns, quantum computing vendors, select cloud-service providers, and independent software vendors are offering quantum cloud-based solutions that allow organizations to experiment with this technology.

Quantum computing infrastructure as a service, platform as a service, and software as a service offerings provide organizations access to the quantum computing technology, applications, technical support, and other resources needed to begin the quantum journey.

These services help clients determine the value of adopting quantum computing technology, develop and test quantum algorithms, and become more resilient in a post-quantum era.

"Even though quantum computing is still in a nascent stage, the interest as well as the number of European companies engaging with quantum projects is constantly growing. The most innovative companies across industries have understood that the identification and development of quantum business use cases should start right away," said Stefano Perini, senior research analyst, European Quantum Computing Launchpad co-lead at IDC. "This push is hence progressively contributing to the development of an actual European quantum computing market which is growing year on year."

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