The Boston Consulting Group has reaffirmed its projection that quantum computing will create $450 billion to $850 billion of economic value globally, sustaining a $90 billion to $170 billion market for hardware and software providers by 2040.
BCG had in 2021 published its forecast for the quantum computing market.
According to BCG’s report, despite a 50% drop in overall tech investments, quantum.
In its 2021 report, BCG expected the market to mature in three phases, and this is still the case.
The phases are: noisy intermediate-scale quantum (until 2030), broad quantum advantage (2030-2040) and full-scale fault tolerance (after 2040).
Despite maintaining confidence in the projected economic value of quantum computing, BCG’s previous assumptions for near-term value creation in the first phase have been optimistic and now revised.
According to BCG, the first phase has not lived up to expectations because of two factors: technical hurdles in hardware development are proving tough to overcome and competition from classical computing has been fiercer than expected.
Artificial intelligence has exceeded expectations in scientific fields, offering viable alternatives for previously dif
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