This article presents a quarterly round-up of the latest trends in the technology industry regarding quantum computing. It provides an overview of recent developments in quantum computing-related deals, talent acquisition, and patent filings within the technology industry.

Diverse applications of quantum computing in technology industry

Technology companies like Quantum Source Labs Ltd, Dell Technologies Inc, Korea University, Mizuho Research & Technologies Ltd, and Huawei Investment & Holding Co Ltd are leveraging the latest patents in quantum computing to innovate and improve their businesses. These patents cover a range of technologies such as whispering-gallery mode optical resonators, quantum computing execution models, logical CNOT operations of quantum logical qubits, learning systems, and tensor network contractions in quantum simulators. By acquiring these patents, these companies can advance their Quantum Computing capabilities, leading to more efficient quantum algorithms, improved data processing, and enhanced computational power. This will ultimately benefit the acquirers by enabling them to stay at the forefront of quantum computing technology and applications.

The industry experienced a 34% decline in the number of quantum computing-related patent applications in Q4 2023 compared with the previous quarter. On an annual basis, the number of quantum computing-related patent applications in the technology industry witnessed a drop of 20% compared with Q4 2022.

Strategic deal trends in quantum computing in technology industry

Technology companies are not only focusing on innovation to enhance their patent portfolios but are also making strategic investments in quantum computing. These investments aim to secure lucrative deals with partners and position themselves at the forefront of industry advancements. Some of the recent deals underscore the importance of quantum computing in the technology industry.

In Q4 2023, the number of quantum computing-related deals in the technology industry grew by 25% compared with Q4 2022. On a quarterly basis, there was 12% drop in the number of deals in Q4 2023 compared with the previous quarter.

Impact on hiring

In terms of new job posting, in Q4 2023, the technology industry experienced a 11% growth compared with the previous quarter. On an annual basis, job postings also declined by 21%. Notably, computer and mathematical occupations, with a share of 29%, emerged as the top quantum computing-related job roles within the technology industry in Q4 2023, with new job postings rising by 21% quarter-on-quarter. Management occupations came in second with a share of 12% in Q4 2023, with new job postings dropping by 3% over the previous quarter. The other prominent quantum computing roles include architecture and engineering occupations with a 7% share in Q4 2023, and life, physical, and social science occupations with a 6% share of new job postings.

International Business Machines, Science Applications International, Microsoft, IonQ, and Accenture are among the top companies leading in quantum computing hiring within the technology industry.

Countries driving adoption of quantum computing in technology industry

The US is the leading country in quantum computing adoption within the technology industry, boasting the highest number of quantum computing-related patents, jobs, and deals. Meanwhile, France, Canada, Japan and China also maintain significant positions in quantum computing adoption within the technology industry.

In conclusion, despite a decline in quantum computing-related patent applications, the technology industry is witnessing a surge in strategic deals and job postings, reflecting a dynamic landscape. Companies and professionals, led by pioneers such as International Business Machines, are actively contributing to the evolution and adoption of quantum computing, with the US at the forefront of these transformative advancements.

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData patent analytics tracks patent filings and grants across companies and themes. Proprietary databases on deals and job analytics are used to respectively monitor global deal activity and uncover insights from daily job postings to identify trends, company activities, and industry dynamics across different sectors globally.