From commercializing quantum computer applications in industries like finance and healthcare to defending against quantum algorithms with new post-quantum cryptography standards, the quantum information landscape is rapidly becoming more complex. We break down the tech companies defining the quantum future.
Quantum information promises to reshape the digital world.
The industry is built around encoding information in quantum entities called “qubits” — which have a probability of being either 1 or 0, as opposed to traditional bits that can only be one or the other — to open up new computational approaches and ways of handling data that are not possible on conventional devices.
For example, quantum computing could allow entirely new algorithms that are much more efficient at some key tasks — like complex optimization problems, sorting through large datasets, and running simulations. Though the tech is not yet mature, companies are already working to apply quantum computing to commercial applications like drug discovery, finance, materials discovery, and logistics. Investors are excited — startups in the space saw equity funding surge to $1.3B in 2023, a rare bright spot for venture last year. As quantum computers become more capable in the coming years, expect commercial interest to rise quickly.
In response to advances in quantum computing, post-quantum cryptography — referring to encryption standards that are resistant to quantum algorithms that threaten some of the key protocols used today for keeping online interactions secure — is emerging as a cybersecurity priority for many businesses. The driving force for this market is enterprises wanting to have new safeguards in place long before quantum computers become powerful enough to threaten their digital infrastructure.
Meanwhile, a sizable cohort of companies are working on applying quantum information techniques to develop entirely new approaches to communicating data that could eventually lead to a “quantum internet,” with quantum key distribution (QKD) a key field to watch in the space.
In the market map below, we identify 100+ quantum information companies operating across 13 categories.
Please click to enlarge.
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