Quantum computing remains at the forefront of technological advancements, showcasing remarkable strides in patents for innovative applications. Notable developments within technology companies highlight a commitment to enhancing security and communication. Despite fluctuations in patent applications, the industry’s emphasis on strategic deals and evolving job trends underscores its dedication to advancing quantum computing capabilities. The impact of quantum computing extends beyond the technology sector, influencing various industries. GlobalData’s quantum computing – thematic intelligence report provides an overview of the quantum computing theme. It identifies the key trends, provides detailed value chain insights and describes its effect on key sectors. Buy the report here.
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 in the field of quantum computing are leveraging the latest patents to innovate and improve their businesses. One such patent is a key management system that includes a control node, multiple computing nodes, and multiple quantum key distribution (QKD) nodes. This system allows for the generation of root keys, key encryption keys (KEKs), and data encryption keys (DEKs) for secure communication between nodes. Another patent focuses on an authentication method for quantum communication, using a hash function and a one-time pad cipher to authenticate messages exchanged between nodes. Additionally, a patent describes a system for restoring a system by load switching to an alternative cloud instance and self-healing. This system predicts anomalies, identifies system configurations, and switches workloads to ensure uninterrupted operation. Finally, a patent presents a device for controlling trapped ions, including a temperature sensor for sensing temperatures below 50K. These patents provide technology companies with the tools to advance quantum computing technologies and applications, enhancing security, communication, and system reliability.
The industry experienced a 39% decline in the number of quantum computing-related patent applications in Q3 2023 compared with the previous quarter. On an annual basis, the number of quantum computing-related patent applications in the technology industry witnessed a rise of 0.52% compared with Q3 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 Q3 2023, the number of quantum computing-related deals in the technology industry declined by 33% compared with Q3 2022. On a quarterly basis, there was 39% increase in the number of deals in Q3 2023 compared with the previous quarter.
Impact on hiring
In terms of new job posting, in Q3 2023, the technology industry experienced a 13% drop compared with the previous quarter. On an annual basis, job postings also declined by 56%. Notably, computer and mathematical occupations, with a share of 26%, emerged as the top quantum computing-related job roles within the technology industry in Q3 2023, with new job postings drop by 6% quarter-on-quarter. Management occupations came in second with a share of 14% in Q3 2023, with new job postings dropping by 6% over the previous quarter. The other prominent quantum computing roles include architecture and engineering occupations with a 13% share in Q3 2023, and life, physical, and social science occupations with a 9% share of new job postings.
IonQ, International Business Machines, Microsoft, Science Applications International, and Rigetti Computing 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, Australia, the UK, France and the Netherlands also maintain significant positions in quantum computing adoption within the technology industry.
In summary, the quantum computing industry reflects a dynamic picture, characterized by strategic deals, groundbreaking patent developments, and a shifting job landscape. This intricate interaction of advancements and evolving employment trends underscores the transformative nature of quantum technologies within the technology sector.
To further understand GlobalData's analysis on quantum computing in the technology industry, buy the report here.