Quantum technologies continue to advance beyond the expectations of many. At this point there are a dozen technological advances that fit into the emerging technology category. We should forget for a while, about all the fancy titles and get to what is important and that is the issues and opportunities that each of these underlying quantum technologies are likely to create. One of those quantum technologies has emerged recently that looks to have a substantial impact and robust projected market. For now, let’s look specifically at Quantum Networks. Some are calling this a second quantum revolution. It should be noted that the quantum network is often referred to as Quantum Internet, Quantum Communications, and Quantum Telecommunications.
Quantum networks (QN) function much in the same way as the traditional communications networks that I am sure we are all familiar with. QNs are the result of the integration of quantum computers and quantum communication technologies into an operational system. They operate to transmit data and information in quantum bits (qubits) rather than the bits and bytes that have been in use for decades. The biggest difference is the level of security (quantum encryption) of the information transmitted over quantum networks. That specific value is the main driver of the market for this emerging quantum technology segment.
According to a new report from Inside Quantum Technology (IQT), the market for quantum networking is expected to reach $5.5 billion USD by 2025. LINK: https://finance.yahoo.com/news/quantum-networking-5-5-billion-151345253.html While quantum networks are basically non-existent today, reaching the $5.5 billion USD market estimate they reported will have to have a huge compound annual growth rate (CAGR) over the next few years. It should be noted that a number of analysts, researchers and advisors believe the quantum internet might be closer than is being projected. At this point there are no referenceable reports available that acknowledges a quantum network in operation today. Given that piece of information, a substantial amount of work will have to be done in the next five years (by 2025). For those of you that regularly follow this emerging technology blog, I am sure you are beginning to see a pattern here. There are a number of emerging technologies with billions of dollars of market by 2025 and they are adding up to a substantial number of programs and projects that have to take place in the next few years to meet the financial projections put forth by market analysts!