BURNABY, British Columbia & PALO ALTO, California–(BUSINESS WIRE)–D-Wave Quantum Inc. (NYSE: QBTS), a leader in quantum computing systems, software and services, and the only vendor building quantum computers with both annealing and gate model, has commissioned Hyperion Research, the high performance computing analyst group, to conduct a study to better understand the challenges and opportunities experienced by commercial early adopters of quantum computing (QC). The study, which required the 300 organizations surveyed to be currently involved in some form of quantum computing, analyzes the behaviors, perceptions and experiences of today’s commercial quantum computing users. It provides insight into companies’ strong desire to continue with continued QC adoption, as 80% of respondents plan to increase their QC commitment in the next two to three years, and reveals the key drivers for the adopting the technology, namely improved business process efficiency and increased revenue.
Key takeaways include:
Increasing QC investment is expected to continue
More than 80% of respondents plan to continue with greater involvement in QC over the next two to three years. Specifically, about half plan to move forward, but at a measured pace with modest increases in funding and internal resource deployment, while a third want to take aggressive steps to incorporate quantum computing into their overall computing environment. About one-third of respondents envision annual QC budgets in excess of $15 million (USD), and one-fifth of more than $25 million (USD), reflecting growing investment in the technology in the near term.
QC exploration and adoption on the rise
Respondents identified different stages of exploration and adoption of QC, indicating an increase in corporate adoption of quantum computing. The majority indicated to explore options and monitor technological developments, followed by quantum use case analysis and prioritization. Respondents also rated current QC-related activities as a positive approach to compute requirements, with 97% noting that the process has been very or somewhat successful so far.
Business Efficiency, Increased Revenue Key Commercial Drivers
When asked what the top value drivers are for QC adoption, respondents cited improving business process efficiency, increasing revenue, improving research capabilities and gaining a competitive advantage. Interestingly enough, European respondents were almost twice as interested in competitive advantage as US counterparts.
QC applicability covers a wide range of optimization use cases
Respondents identified a wide range of potential use cases that quantum computing could address, reinforcing QC’s potential to solve complex optimization problems. Machine learning applications (49%) and finance-oriented optimization (48%) topped the list, with logistics/supply chain management and modeling/simulation also selected by more than four in ten respondents.
“The early adopters of Quantum Computing are recognizing the broad applicability of the technology in terms of industries and workflows, its numerous value and organizational benefits, and its growing importance to the computing environment of any commercial enterprise,” said Bob Sorensen, principal analyst for quantum computing. at Hyperion Research.
“As the exploration and adoption of quantum computing becomes increasingly important to the modern enterprise, it is clear that companies are experiencing traction and want to double down on their quantum investment,” said Dr. Alan Baratz, CEO of D-Wave. “Organizations are increasingly recognizing the impact that practical quantum solutions can have in solving their most complex computing problems, driving operational efficiencies and driving growth. The feedback from companies in this study echoes what we are hearing from our customers: hands-on quantum computing is unlocking short-term business value and is quickly becoming an essential tool to gain competitive advantage.”
About the study:
The study draws heavily on a survey of QC early adopters, conducted from August to October 2022, which collected responses from 300 US and European organizations already in QC development or end use, estimated total revenue in 2022 of at least US$15 million, and general IT budgets of US$5 million or more.
The full research results and insights from Hyperion Research are available for download here. In addition, D-Wave is hosting a webinar with Hyperion on December 15 to delve deeper into these findings. Registration for the webinar is possible here.
About D-Wave Quantum Inc.:
D-Wave is a leader in the development and delivery of quantum computing systems, software and services, and is the world’s first commercial supplier of quantum computers – and the only company building both glowing quantum computers and gate model quantum computers. Our mission is to unlock the power of quantum computing for the benefit of business and society today. We do this by delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials science, drug discovery, planning, cybersecurity, error detection and financial modeling. D-Wave’s technology is used by some of the world’s most advanced organizations, including NEC Corporation, Volkswagen, DENSO, Lockheed Martin, Forschungszentrum Jülich, University of Southern California, and Los Alamos National Laboratory.