The market for quantum computing is projected to be around $5 billion to $10 billion a year by Morgan Stanley in the next 10 years.
A report by Homeland Security Research estimates that the global market for quantum computing and technologies will grow at a CAGR of 24.6% throughout 2018-2024. By 2024, products and services market would be $8.45 billion while government-funded research and development would be $2.25 billion.
According to CIR, revenue from quantum computing could reach $8 billion by 2027.
Quantum computers should be superior to classical computers for sorting, database lookups, finding prime numbers, simulating molecules, and optimization.
A significant part of the $300 billion per year spending on semiconductors and $11 billion per year on supercomputers could divert to quantum computers if quantum supremacy provides a renewed avenue for extremely powerful exponential performance gains.
If Quantum computing and quantum hardware does not take spending from semiconductors, the size of the spending on the semiconductor industry would be a useful gauge for what Quantum computer spending should become.
For semiconductors, there has been less performance improvement other than GPUs, FPGAs and tensor AI chips.
Various companies research quantum computing and quantum technology are: