More than 80% of respondents looking to move forward with increased commitment to quantum computing in next two to three years; more than one-third will invest at least $15M USD annually in quantum computing efforts
Companies see promise of QC for wide range of use cases, including machine learning applications, finance-oriented optimization, and logistics/supply chain management
BURNABY, B.C. and PALO ALTO, Calif. ---December 6, 2022-- D-Wave Quantum Inc. (NYSE: QBTS), a leader in quantum computing systems, software, and service, and the only provider building both annealing and gate-model quantum computers, 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 that the 300 organizations surveyed are currently engaged in some form of quantum computing efforts, analyzes the behaviors, perceptions and experiences of today’s commercial quantum computing users. It offers insight into companies’ strong desire to move forward with continued QC adoption, as 80% of respondents plan to increase their QC commitment in the next two to three years, and reveals the top value drivers for adopting the technology, namely enhanced business process efficiencies and increased revenue.
Key takeaways include:
Increase of QC Investment Expected to Continue
More than 80% of survey respondents plan to move forward with an increased commitment to QC in the next two to three years. Specifically, about half are planning to move forward but at a measured pace with modest increases in funding and internal resources commitment, while one third are looking to move aggressively to incorporate quantum computing into their overall compute environment. About one third of respondents foresee annual QC budgets that exceed $15M (USD), and one fifth that exceed $25M (USD), reflecting a growing near-term investment in the technology.
QC Exploration and Adoption on the Rise
Respondents identified numerous stages of QC exploration and adoption, signaling an uptick in enterprise quantum computing adoption. The majority indicated they were exploring options and monitoring technology developments, followed by performing quantum use case analysis and prioritization. Respondents also assessed current QC-related activities as positively addressing computation requirements, with 97% noting process to-date was very or somewhat successful.
Business Efficiencies, Increased Revenue Key Commercial Drivers
When asked about the greatest value drivers for QC adoption, respondents called out enhancing business process efficiencies, increasing revenues, improving research capabilities, and gaining a competitive advantage. Interestingly, European respondents were nearly twice as interested in driving competitive advantage as US counterparts.
Applicability of QC Spans Broad Set of Optimization Use Cases
Respondents identified a wide range of potential use cases that quantum computing could address, reinforcing QC’s potential to help 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.
“Quantum computing’s early adopters are recognizing the technology’s broad applicability in terms of industries and workflows, its numerous value and organizational benefits, and its growing importance to any commercial business’s compute environment,” said Bob Sorensen, chief analyst for quantum computing at Hyperion Research.
“As quantum computing exploration and adoption continue to ascend in importance to the modern enterprise, it’s clear that companies are experiencing traction and looking to double-down on their quantum investment,” said Dr. Alan Baratz, CEO of D-Wave. “Organizations are increasingly recognizing the impact practical quantum solutions can have on solving their most complex computational problems, thereby driving operational efficiencies and fueling growth. The feedback from companies in this study reflects what we’re hearing from our customers – practical quantum computing is unlocking near-term business value and is quickly becoming an essential tool in helping achieve competitive advantage.”
About the Study:
The study draws heavily on a survey of QC early adopters conducted from August through October of 2022, which collected responses from 300 US and European organizations that had QC development or end use activity already in effect, 2022 total revenue estimates of at least US$15 million, and overall IT budgets of US$5 million or more.
The full survey results and insights from Hyperion Research can be downloaded here. Additionally, D-Wave is hosting a webinar on Dec. 15 with Hyperion to go in-depth on these findings. Registration for the webinar is available 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 annealing quantum computers and gate-model quantum computers. Our mission is to unlock the power of quantum computing today to benefit business and society. We do this by delivering customer value with practical quantum applications for problems as diverse as logistics, artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. D-Wave’s technology is being 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.
Media Contact:
Jill Wroblewski
AxiCom