Quantum Computing plans to be the world’s first manufacturer of quantum nanophotonic chips, a plan it continues to advance.
The company already produces its own lithium niobate nanophotonic circuits and plans to expand production to meet anticipated demand.
The company has announced plans to build and operate a new state-of-the-art quantum nanophotonic technology research and manufacturing center, which it believes could be the world’s first quantum nanophotonic chip manufacturer.
The plan for the facility is to produce a range of lithium niobate nanophotonic circuits for internal use in its own product lines and for general market sale.
This initiative is expected to benefit from the U.S. CHIPS and Science Act of 2022 (the “CHIPS Act”), which allocates $52 billion for the revitalization and offshoring of U.S. semiconductor manufacturing.
CHIPS Act funding includes $39 billion in manufacturing incentives and $13 billion to support new research and development activities.
According to a report by Allied Market Research, the global enterprise quantum computing market size was valued at $1.3 billion in 2020, and is forecast to reach $18.3 billion by 2030, growing at a Compound Annual Growth Rate of 29.7% from 2021 to 2030, according to an enterprise quantum computing market report.
Although the current quantum computing market represents a fraction of the broader high-performance computing market, quantum computers are expected to unlock new applications that are unlikely to be addressed by current high-performance computers composed of classical processing units.
Quantum Computing operates in the broad and global high-performance computing sector, which is comprised of hardware, software and services for computationally intensive applications.
The rapid adoption of technologies such as artificial intelligence, 3D imaging and the Internet of Things (IoT) has served to exponentially increase data generation, driving demand for high-performance computing.
Estimates on the size of this industry vary, but according to Grand View Research, the high-performance computing market was valued at $39.1 billion in 2019 and is expected to reach a value of $53.6 billion by 2027.
The high-performance computing market is important to many industries including: IT, aerospace, healthcare, automotive and e-commerce.