Growing potential of quantum computing based on market research
According to an estimated survey, the quantum computing industry will be worth about $5 billion by 2020, which means it will go from strength to strength over the next few years. Among several business areas, the most common fields to explore are as follows: Advanced Cryptography: The ordinary computers that we use today make it infeasible to break encryption that uses very large prime number factorization. With quantum computers, this decryption would become trivial, leading to much stronger protection of digital lives and assets. Quantum Modelling: Quantum technology could enable much more complex computer modelling like aeronautical scenarios, adiabatic quantum motor, quantum harmonic oscillator etc. Aiding in the routing and scheduling of aircrafts in aeronautics has enormous commercial benefits for time and costs.
Quantum Data Analytics for Pattern Matching: Topological analysis is a field of data analytics where quantum computing can miraculously describe patterns of several geometric shapes and characterize their behavior through pattern matching. NASA is looking at using quantum computing for analyzing enormous amount of data they could collect about the universe for space travel.
Quantum inspired Weather Forecasting: Predicting and forecasting weather conditions rely on large and complex data set. Nearly 30% of the US GDP is affected by weather in some way or the other and quantum computer being able to more accurately forecast it would be of great economic benefits.
Quantum inspired Medical Research: Quantum computing can play a very crucial role in medical research. There are literally billions of possibilities to how something can react across the human body. Even today, it takes pharmaceutical companies up to 10 or more years and often billions of dollars to discover a new drug and bring it to market. Improving the front end of the process with quantum computing can dramatically cut costs and time to market, repurpose pre- approved drugs and more easily for new applications and empower computational chemists to make new discoveries faster that could lead to cures for a range of diseases. Quantum Sensor Network: Car companies like Tesla and tech companies like Apple and Google are actively developing driverless cars using quantum sensor network by incorporating quantum bots into the system in order to cut down pollution, reduce congestion and also improve the standard of living for most people.