Financing Computing’s Next Great Disruption
Skip Sanzeri / CPO Magazine / 20 Sept 2022
CPO Magazine focuses on all facets of the cybersecurity industry. Author Skip Sanzeri, Co-Founder and COO, writes about the current landscape of funding in the quantum cybersecurity industry and what the future of funding in this industry would mean.
Key points from the article include:
- According to McKinsey, quantum computing now has the potential to capture nearly $700 billion in value as early as 2035. As a result, funding from both private and public sources is pouring into the quantum computing industry. Quantum computing deals show no sign of slowing as global mergers, venture capital, and partnerships demonstrate investor and industry interest in the technology and its application.
- In the next three to five years, quantum computer manufacturers could reach revenues of $5 billion to $10 billion, according to Boston Consulting Group.
- At the government level, the Schumer bill, also called the Endless Frontier Act, is allocating over $115 billion for both quantum computing and secure quantum communications. The White House issued two initiatives, one in January of 2022 and another in May of 2022 mandating that all federal agencies must start the post-quantum cybersecurity (PQC) upgrade process.
- Funding for quantum applications, hardware, and post-quantum cybersecurity should only increase in coming years.