Quantum Technologies 2021

From Technologies to Markets
© 2021
From Technologies to Markets
Quantum
Technologies
2021
Market and Technology
Report 2021
Sample

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ADMET: Absorption, Distribution, Metabolism, Excretion,Toxicity
APD: Avalanche Photo Diode
ASIC: Application Specific Integrated Circuit
BLA: Biological License Application
BOM: Bill Of Materials
BU: Business Unit
C2W: Chip to wafer
CADD: Computer-Aided Drug Design
CAPEX: Capital Expenditure
CCD: Charge Coupled Device
CD: Critical Dimension
D2W: Die to wafer
FPGA: Field Programmable Gate Arrays
FTTH: Fiber to the Home
GPS: Global Positioning System
InGaAs APD: InGaAs Avalanche Photodiode Detector
LOQC: Linear Optics Quantum Computation
Quantum Technologies 2021 | Sample| www.yole.fr | ©2021
GLOSSARY AND DEFINITIONS (1/3)
MEMS: Micro-Electro-Mechanical Systems
MT: Magneto Resistance
NFS: Number Field Sieve
NISQ: Noisy Intermediate-Scale Quantum
NME: New Molecular Entity
NMR: Nuclear Magnetic Resonance
NV: NitrogenVacancy
O(n): Big O Notation (how quick the run-time grows relative to the input, N)
OPEX: Operational expenditure
PIC: Photonic Integrated Circuit
PNT: National Positioning, Navigation, andTiming
PQS: Programmable Quantum Simulator
PSM4: Parallel Single Mode 4-channel
QaaS: Quantum As A Service
QC: Quantum Computer
QCCD: Quantum CCD
QCL: Quantum Cascade Laser
QEC: Quantum error correction
QKD: Quantum Key Distribution

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QML: Quantum Machine Learning
QPU: Quantum Processor Unit
QRNG : Quantum Random Number Generator
QTRL: Quantum Technology Readiness Level
RF: Radio Frequency
RNG: Random Number Generator
ROI: Return On Investment
SERF: Spin-Exchange Relaxation-Free
SME: Small and Medium Enterprise
SNSPD: Superconducting Nanowire Single-Photon Detector
SPAC: Special Purpose Acquisition Company
SPD: Single Photon Detector
SQUID: Superconducting Quantum Interference Device
SQIF: Superconducting Quantum Interference Filter
SSB: Solid State Battery
TLS: Transport Layer Security
TSV: Through SiVias
WDM: Wavelength Demultiplexing
WG: Waveguide
UTe2: Uranium Ditelluride sensing

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We use the following definitions in our forecast:
•Quantum computing hardware: market value excluding
services
•Quantum computing: includes hardware and services (QaaS)
•Quantum technologies: includes quantum-related technologies
for computing, communication and sensing

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o Quantum computing is a long-
term business
o Only cryptography and sensing
have market value today.And
the latter a small market
o Quantum is not a flash in a pan
but it will probably take 10 to
20 years of R&D more
o End applications and use-cases
are still unclear
o We overestimated quantum
sensors market
o Driven by Covid-19 and
demand for more secure
communications, QKD
market will grow faster than
previously forecasted
WHATWE GOT RIGHT, WHATWE GOT WRONG

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TABLE OF CONTENTS
• Glossary and definitions 2
• What we got right, what we got wrong 5
• Table of contents 6
• Scope of the report 7
• Report methodology 8
• About the author 9
• Companies cited in this report 10
• Report objectives 11
• Who should be interested by this report? 12
• Three-page summary 13
• Executive summary 16
• Context 49
• Quantum computer 60
o Architecture
o Quantum software
• Quantum cryptography 88
• Quantum sensors 105
o Quantum magnetometers and gravimeters
o Atomic clocks
o New developments
• Market forecasts 117
o Computers
o Cryptography
o Sensing/timing
• Market trends 135
o Pharmaceutical
o Energy and chemistry
o Transportation
o Banks and finance
o Defense and aerospace
• Market shares and supply chain 165
o Fund Raising
o Collaborations
o Players
o Market shares
• Technology trends 192
o Superconducting
o Quantum annealer
o Photons
o Silicon
o Quasi particles
o NV centers
o Trapped ions
o Cold atoms
o Others
o Quantum accelerators
• Outlook 235

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This report covers quantum technologies for:
oComputing, including:
• Quantum emulators
• Quantum annealers
• Quantum accelerators
• NISQ
• Universal quantum computer
oQuantum-based sensing and timing solutions
oQuantum key distribution
SCOPE OFTHE REPORT
Your needs are
out of scope of this
report?
Contact us for a custom study:

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METHODOLOGIES & DEFINITIONS
Market
Volume (in Munits)
ASP (in $)
Revenue (in $M)
Yole’s market forecast model is based on the matching of several sources:
Information
Aggregation
Pre-existing
information

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ABOUT THE AUTHOR
Biography & contact
Dr. Eric Mounier
With more than 25+ years’ experience within the semiconductor industry, Eric Mounier PhD. is Director of Market Research at
Yole Développement (Yole). Eric provides daily in-depth insights into current and future semiconductor trends, markets and
innovative technologies (such as Quantum computing, Si photonics, new sensing technologies, new type of sensors ...). Based on
relevant methodological expertise and a strong technological background, he works closely with all the teams at Yole to point
out disruptive technologies and analyze and present business opportunities through technology & market reports and custom
consulting projects. With numerous internal workshops on technologies, methodologies, best practices and more, Yole’s Fellow
Analyst ensures the training ofYole’sTechnology & Market Analysts.
In this position, Eric Mounier has spoken in numerous international conferences, presenting his vision of the semiconductor
industry and latest technical innovations. He has also authored or co-authored more than 100 papers as well as more than 120
Yole’s technology & market reports.
Previously, Eric held R&D and Marketing positions at CEA Leti (France).
Eric Mounier has a PhD. in Semiconductor Engineering and a degree in Optoelectronics from the National Polytechnic Institute
of Grenoble (France).
Contact: eric.mounier@yole.fr

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1QBit,A*Quantum,A.P.E.,Alibaba,Alice&Bob,Alpine Quantum, Amazon,Ankh.1,Anyon Systems,ApexQubit,
AppliedQubit,ArQit,Artiste-qb.net,AtomComputing,AtomSensors,Atos,Aurea Technology,Aurora Quantum
Technologies,Automatski,AxionTechnologies, Beit.tech, Black Brane System, Bleximo, BlueFors Cryogenics, Bosch,
Boxcat, Bra-Ketscience, BraneCell, Cambridge Quantum Computing, Coax Co., ColdQuanta, Cryoconcept, Cryomech,
Cryptalabs, Cryptomathic, CryptoNext Security, D slit technologies, Delft Circuits bv, DeutscheTelekom, D-wave, EeroQ,
Elyah, Entanglement Partners, EntanglementTechnologies, Entropica Labs, EvolutionQ, Fathom Computing, Fujitsu,
Google, GTN LTD, h-bar, Honeywell, Horizon, HP, HQS, Huawei, HyperLight, IBM, ID Quantique, imasenic, InfiniQuant,
Intel, Intelline, IonQ, IQM, Isara, Jos Quantum, Ketita Labs, KETS Quantum Security, KETS Quantum Security, Kiutra,
Labber Quantum, LightOn, Lockheed Martin, Luminous, MagiQ, MDR, Microsoft, M-Labs, M Squared, Multiverse
Computing, Muquans, Netramark, NQCG, Nu Quantum, NuCrypt, ONERA, Origin Quantum Computing, Orolia, Oxford
Instruments, Oxford Quantum Circuits, Pasqal, Phase Space Computing, PhaseCraft, Photec, PhotonSpot, Post Quantum,
ProteinQure, PsiQ, PTB, Qandi, Qasky, Qbitlogic, Qblox, QCWare, Q-ctrl, QEYnet, Qilimanjaro, Qindom, Q-Lion, QLM,
Qnami, Qontrol Systems, Qrithm, Qrypt, Qu&Co, Quandela, Quantastica, QuantFi, QuantiCor Security, Quantika,
Quantopo, Quantum Benchmark, Quantum Benchmark, Quantum Brilliance, Quantum Circuits Inc, Quantum
Communications Hub, Quantum Factory, Quantum Impenetrable, Quantum Machines, Quantum Motion Technologies,
Quantum Phi, Quantum Xchange, QuantumCTek, QuantumX, Quartiq, Qubalt , Qubit Reset LLC, Qubitekk, Qubitera
LLC, QuDot, Quintessence Labs, QUiX, Qulab, Qunasys, Qunnect, Qunulabs, QuPIC , Quside, QuSpin, QxBranch, Rahko,
RayCal, Raytheon, Rigetti Computing, Riverlane, Scontel, Seedevices, SeeQC.EU, SHYN, Silicon Quantum Computing Pty.
Ltd, Single Quantum, SK Telecom, SoftwareQ, Solid State AI, Sparrow Quantum, SpeQtral, Strangeworks, Supracon,
Syrlinks,TMD,Tokyo Quantum Computing,Toptica,Toshiba,Trustis,TundraSystems Global ltd,Turing,TwinLeaf, Universal
Quantum,VectorAtomic, Xanadu, Xofia, Zapata Computing, ZY4 and more
COMPANIES CITED IN THIS REPORT

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2020 – 2025 – 2030 QUANTUM TECHNOLOGIES MARKET FORECAST
After 2025, the
emerging of QaaS
and universal
quantum computers
will boost quantum
computing market.
Cryptography will
be boosted by new
use cases such as
5G.
Compared to our
previous edition, we
delay the use of
quantum
computers.
$38M
$218M
$84M
$160M
CAGR
33%
$317M
CAGR 8%
$313M
CAGR
30%
$598M
CAGR 14%
$1,163M
CAGR 30%
$1,147M
CAGR 48%
Computing
Sensing & Timing
Cryptography
2020
$340M
2025
$791M
2030
$2,908M
CAGR 18%

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THE 4 BENEFITSTO BE QUANTUM EXPLOITED FOR COMPUTING, CRYPTOGRAPHY AND SENSING.
Superposed states:
a quantum register exists in a superposition
of all its possible configurations of 0's and
1's at the same time*.
This allows superposed calculations and
decreasing computing time.
* It is not until the system is observed that it collapses into an observable, definite classical state. For example, the electron spin can be
up and down at the same time.
** Quantum computation is performed by increasing the probability of observing the correct state to a sufficiently high value so that
the correct answer may be found with a reasonable amount of certainty
Probabilistic system:
any given state will be observed if
the system is measured.
The result is an evaluation of the
qubits’ final state**.
Entanglement:
used to link the qubits (2 or 3-qubit
logic gate) in computing and
synchronize them.
Wave-particle duality:
every particle or quantum entity
may be described as either a particle
or a wave.
Possibility to interact with qubits
through interference.

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WHY QUANTUM COMPUTING?
Because they could solve multiples complex problems in multiple markets!
MEDICAL/
PHARMA
ENERGY
MATERIALS
TRANSPORTATION
FINANCE
MARKETING
DEFENSE
AEROSPACE
INDUSTRY
CONSUMER
Cybersecurity
Catalyst & enzyme design
Drug discovery
Patient diagnostics Genomics
Trading strategies
Portfolio optimization
Asset pricing
Risk analysis
Market forecast
Fraud detection
Smart grid
Oil well optimization
Cryptography
A few examples of
applications for a
quantum computer
New materials
Radiotherapy optimization
Traffic simulation
E-charging station & parking
search
Autonomous driving
Advertising strategies
Weather forecast
Consumer behavior
Logistics, planning, distribution
IC manufacture & design
Materials for airplanes
Ascending phase simulation
Earth observation
Batteries
Most likely application
today
Radar
Cryptography

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THE DIFFERENT TYPES OF QUANTUM COMPUTERS
Definition Type Qubits Players
Quantum emulators
they are classical
computers, simulating
quantum algorithms.They
are slower than quantum
computers.
Ising machines used for
optimisation
none
Quantum annealer
they use “average
quality” qubits and only
part of quantum
algorithms are
processed.
Ising machines used for
optimisation
Superconductors
NISQ « Noisy
Intermediate-Scale
Quantum »
50-100 qubits – more
performing than HPC
but still limited
Quantum processor –
can solve any problem
Superconductors
Universal quantum
computer
> 100 qubits
Quantum processor –
can solve any problem
Superconductors
Photons
Spin qubits
Quasi particles
NV centers
Trapped ions
Cold atoms

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THE DIFFERENT TYPE OF QUANTUM COMPUTERS
2021 MID-TERM LONG-TERM
Quantum
annealer
Quantum
emulators
Using digital
circuits
(Strong Japan
focus)
NISQ
50-100 qubits
Hybrid solution
requiring classical
computing
components as well
Quantum-gates
based QC
«The Quantum
Grail »
Quantum accelerators can also be used with CPU
/ GPU / FPGAs to distribute the calculations
according to usage on one or the other chip.

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Graph below shows physical qubits roadmap (to be remembered: for a quantum computer, 50 logic qubits minimum are required  it means 50 000 physical qubits)
PHYSICAL QUBIT ROADMAP FOR QUANTUM COMPUTER – HISTORY AND FUTURE
1 (Institute for Quantum Computing, Perimeter Institute forTheoretical Physics, MIT)
2 (Los Alamos National lab)
3 (TU Munich)
4 (Oxford University, IBM, UC Berkeley, Stanford,MIT)

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QUANTUM PUBLIC INVESTMENTS: MORE THAN $22BWORLDWIDE
USA: $1.2b
Canada: $766m UK: $1.3b
FR: $2.2b
EU Quantum Flagship: $1.1b
Netherlands: $177m
Germany: $3.1b
Israel: $360m China: $10b
India: $1b
Australia: $94m
Singapore: $109m
Taiwan: $282m
Japan: $470m
Korea: $37m
Russia: $663m

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The breakdown of investments by technology of qubit for startups working on hardware shows that:
o Photonics has the largest share due to PsiQ fundings
o Trapped ions technology is 30% as IonQ raised $350 (as of March 27, 2021) with an IPO
o The 20% share is mostly from Rigetti
o Annealing is « only » 15% that makes D-wave no longer being the largest funded quantum company
QUANTUM COMPUTING FUND RAISING
TOP 4 funded companies

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QUBITS APPROACHES
Many qubits
technologies
are developed.
Scalability is
key to success
and Si or
photons-based
qubits would
benefit from
the CMOS
infrastructure.
Principle
Number of qubits -
2021)
Scalability Pros Cons
superconductors 53 (Google, IBM)
Possible but limited in
qubits size and
miniaturisation
• Most developed technology
• Quantum supremacy (Google, 2019)
• Mastering of cryogenic, electronics and cabling technologies
• Low coherence time
• Sensitivity to noise
• Very low temperature required (15-20mK)
• Complex cabling
• Limited gates connectivity
Quantum annealers 5640 (D-Wave’s Pegasus) Yes
• Wide development tools offer
• Many software startups (Japan)
• Cloud access
• Numerous tests and experiments
• Only D-Wave has a solution
• Error rate
• Not yet a widely deployed commercial application
Photon qubits 20 (China) Yes with Si photonics
• Stability
• Ambient temperature operation
• Wafer scalable
• Avaialbility of unique photons sources/detectors
• Photons are alreday used in telecom and datacom
• High error rate in qubits reading
• No possibility to store photons
• Still need cooling
Silicon (SOI, SI, Ge) 2
Yes – spin qubits are
100x100nm²
• CMOS scalability
• 1K operation
• Can be hybridized with control chips
• Can be coupled with optical fibers for long distance
communication
• Fast quantum gates
• Only tow intricated qubits so far
• Si28 isotope
• Require large volume to take benefit of cost
scalability
Quasi particles
(anyons, fermions de
Majorana)
-
Possible (close to Si
qubits)
• Theoretically very stable
• Long coherence time and fast gates
• Low error
• 1 minute lifetim
• Does it exist?
• Few labs working on this approach.
• Only Microsoft
• Cryogenic temperature required (<15-20mK)
NV centers -
• Could work at room temperature (actually 4K)
• Long coherence time
• Mechanical resistance (diamond)
• Can be used as quantum memory
• No industrial investment so far
• Needs complex laser manipulation  complex
scalability
Trapped ions
121 (University of
Maryland), 11 to 79 (IonQ,
depending on
performances)
Difficult > 50 qubits
• Ions are perfectly identical
• Good stability
• 4K-10K working temperature
• Possible entanglement with photons for long distance
communication
• Scalability
• Slow quantum calculations
• Ultra high vacuum required
Cold atoms
Optics and lasers are
not scalable
• Stability
• Identical atoms
• Uses trapped ions set up
• Use standard tools
• Cross talk between qubits
• More adapted to simulation
• Difficult to scalable beyond 1000 qubits (optics and
lasers)

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Neuromorphic Computing
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Silicon Photonics 2021
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