Quantum Computing is a state of collecting exploitation properties of quantum states, such as superposition and entanglement, to perform computation.
Quantum Computing is building a new frontier in computing for the next generations. Increasing higher computing, communications, cybersecurity with wide available spread applications. It is expected that lots of commercial and non-commercial applications moving forward to it emerging from theoretical constructs which are developing in this area.
“Quantum computing is just like supercomputers but more powerful than supercomputers. It harnesses the phenomena, quantum mechanics, to deliver fast, instant, and a huge leap forward result in computing to solve certain higher problems.”
Today the Quantum computing market is valued at over $500 million in 2021 and it is expected to reach $1.7 billion by 2026, at a CAGR of 30.2 percent, according to big markets reports. Banking, financial services, private sectors are the major sector fuelling the growth of the market.
Billions dollars tech giants companies started to designing and building Quantum computers to solve multi-dimensional complex problems that today’s most powerful computers can’t solve, and never will, Companies like Google, IBM, Microsoft, Oracle, Intel, Amazon.
Not just private enterprises but government across the globe also pumping (Driving) money into Quantum Computing. Today in this article we will look at the top countries investing in Quantum Technology.
In 2019, US Government begins the National Quantum Initiative which is the National Institute of Standards and Technology NIST), the Department of Energy (DOE), and the National Science Foundation (NSF) to start developing Quantum computing projects as part of the initiative. The US government funder over $1.2 billion over five years to promote quantum computing. The Department of Energy had announced an additional $80 million for quantum research.
United States Government also formed the National Quantum initiative advisory committee consisting of 22 highly experts from various industries such as research, federal agencies, and sectors.
In the year 2017, during the 19th Chinese communist national congress party, President Xi Jinping announced that China must go emerge as a global leader in innovation by 2035.
After the declaration china made large-scale investments in quantum computing technology to become a force to reckon with. In 2016, the Chinese government introduces its 13th five-year plan in which china will launch many mega projects for quantum computing and communication, including expansion in national quantum communications infrastructure, development of general quantum computer prototype, and practical quantum simulator.
Canada is also catching up with the tendril in quantum computing. In the last decades, Canada invested more than $1 billion, Canada’s research and development expertise, growing public-private partnerships, and innovations are pumping the quantum computing development in the country.
Canada has additionally rolled out its national investment strategy in public showing how performance will change. Under this strategy, the Canadian government funded over $33 million to D-Wave Systems as part of the larger $100 million investment in quantum technologies.
Recently the France president Emmanuel Macron encourages a national strategy – a five-year work plan worth €1.8 billion to finance research in quantum technologies, communication, and sensing. The French government is also planning to fund €200 million annually for the next five years. The remaining €800 million will come from other industries, European fundings, and investors in the French startup ecosystem. President Macron also says that efforts are being made to achieve the ‘leading trio of the quantum nation’, including the USA and China.
In the year 2020, the Russian Government represented a $790 million investment to start the development of practical quantum computing technology. The Russian government has numerous plans to build a new National Quantum Laboratory.
Japan’s Government is thinking to invest around $270 million over 10 years. Japan has also launched initiatives to advanced the development of quantum computing. According to the media report, Japan is looking forward to building a full-fledged quantum computer for a broad range of applications by 2039.
In 2019, the South Korean government announced investments of $40 million to develop other ICT technology including core quantum computing. The government made a plan to build a practical five-qubit quantum computer system with over 90 percent reliability by 2023.
In 2020, India’s Finance Minister Nirmala Sitharaman declared the budget of the government to allocate Rs 8,000 crore, over five years period, towards the National Mission on Quantum Computing Technologies and Applications (NM-QTA)
FAQ (Questions & Answers)
As for momentarily, the Quantum Computing assets are showing growth in their fiscal year. But it could take a decade or more to work out, Yes it would be a long-term investment.
IBM is the world’s first company to build and comes up with a quantum computer putting it on the cloud. IBM has built up an active community of more than 260000 registered users.
Representing the future? It’s golden. Shortly, quantum computing would be the core of all technologies, proffering a fast and secure environment.