Embracing the Quantum Economy 2024

Introduction As significant advancements are made in quantum technologies, it brings forth the potential to fundamentally reshape and redefine the global economic landscape. Quantum technologies, defined in this report as quantum computing, quantum sensing, and quantum communications and security, are poised to permeate and transform every major industry of the global economy. This evolution will collectively drive significant economic impact and give rise to a distinctive ecosystem, commonly referred to as the quantum economy.4 Quantum technologies promise substantial economic impact in every single sector (see Figure 1). Some industries, such as finance, technology and telecommunications, pharmaceuticals and healthcare, chemicals and advanced materials, energy and utilities, and automotives, aerospace and transportation, are poised to be early adopters. This is because quantum technologies promise to redefine their businesses and truly impact their competitive edge. To grow and thrive, the quantum economy will require strategic investments from the public and private sectors, a skilled workforce and an ever-growing ecosystem that expands beyond the dominant countries and largest players, thus avoiding the consequences of a quantum divide. It is estimated that the potential economic value for the trio of quantum computing, quantum sensing, and quantum communication and security in the leading industries could reach between $900 million and $2 trillion by 2035.5 This potential to propel economic growth, however, requires strategic measures to mitigate the challenges this novel technology brings. To maximize the advantages of early adoption, business leaders should not only examine the transformative capabilities of quantum technologies but also address the accompanying challenges such as intellectual property issues, resource constraints, and the risk of widening the digital divide: a quantum divide.6 Early adopters in different industry sectors (by number of companies) FIGURE 1 Quantum sensing Quantum communications and security Quantum computing0 10 20 30 40 50 60 70 80 90 100Financial services Technology and telecommunications Pharmaceuticals and healthcare52 75 19 31 18Chemical and advanced materials Energy and utilities 22 Automotives, aerospace and transportation 86% 14% 39% 13% 11% 6%13%4% 57% 42% 58% 74% 83% 18% 18% 64% Source: The Quantum Insider app and Accenture Embracing the Quantum Economy: A Pathway for Business Leaders 5