Quantum Computing Era Dawns

Quantum computing is emerging from the lab and beginning to reshape industries, with the global market reaching between $1.8 billion and $3.5 billion in 2025. Projections estimate a rise to $5.3 billion by 2029, and potentially $20.2 billion by 2030. Venture capital funding has increased, with over $2 billion invested in quantum start-ups in 2024.

Significant progress in quantum error correction has addressed a fundamental barrier to practical quantum computing. Google's Willow chip, featuring 105 superconducting qubits, demonstrated exponential error reduction as qubit counts increased. IonQ achieved 99.99% accuracy on core gate actions, reducing the number of qubits needed for clean results. Quantum computing is finding applications across various sectors. D-Wave Quantum's systems are optimising traffic flow and improving telecom network performance. IonQ and Ansys achieved a milestone by running a medical device simulation on IonQ's 36-qubit computer that outperformed classical high-performance computing.

Fujitsu and RIKEN announced a 256-qubit superconducting quantum computer, with plans for a 1,000-qubit machine by 2026. IBM's roadmap includes the Kookaburra processor in 2025 with 1,386 qubits. Quantinuum launched its new Helios quantum computer. Investment is focusing on specific hardware architectures like trapped ion and photonics, cloud software platforms, and security technologies.