Real-Time Industrial Classifications

UK Quantum Computing Industry

Find out more about the UK’s Quantum Computing industry and the companies providing innovative software, components and expertise in the field.

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What is the Quantum Economy?

Whilst modern quantum theory was developed in the 1920s, 100 years later the laws of quantum mechanics are being used in computing to help solve problems too complex for traditional computers.

Quantum Computing – such as superposition, interference, and entanglement – is an area of computer science that goes beyond the binary 1 and 0 computing we’re used to, harnessing subatomic particles to sort through a huge number of possibilities and provide solutions to incredibly complex problems.

Some of the applications of Quantum Computing are cyber security, logistics and weather forecasting.

The UK’s thriving Quantum Economy or sector includes a wide range of companies including those involved in software development, component manufacture, quantum computer development and photonics (the physical science of light waves).

Quantum Economy sector summary

Key information you should know about the Quantum Economy sector from our AI-driven platform of over 5 million companies:

Quantum Economy has turnover of £13.05bn, meaning it is our 42nd largest RTIC, and our 2nd fastest growing sector.
The Quantum Economy sector has not received additional investor attention in recent years and the amount of venture capital funding is not increasing as fast as our other emerging economy sectors.
On average the roles advertised in this sector are 2.83% lower than the UK’s average salary.

553

COMPANIES CONSIDERED

£13.0bn

TOTAL TURNOVER

115,234

TOTAL EMPLOYEES

£2.1bn

TOTAL INVESTMENT FUNDING

£326.2m

TOTAL INNOVATE UK GRANT FUNDING

46.5%

AVERAGE COMPANY GROWTH PER YEAR

Quantum Economy verticals

Our Quantum Economy RTIC is made up of 3 individual industry verticals, including verticals such as Components and Materials, Photonics, Quantum Computing. You can find out more about the verticals by buying a report, visualising the sector on our platform, or by downloading the data.

Sector Code Description Records
RTIC0051 Quantum Economy 539 companies
Companies involved in software, components, materials or expertise relating to quantum computing and relevant area of photonics.

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- Quantum Economy: Components and Materials
  Companies providing equipment, materials and raw resources to organisations dedicated to quantum research
  
  498 companies
- Quantum Economy: Photonics
  Companies integrating photonics technology into quantum technologies
  
  140 companies
- Quantum Economy: Quantum Computing
  Companies developing and manufacturing quantum computers
  
  129 companies

Quantum Economy industry growth

We estimate that the UK Quantum Economy sector could be worth approximately £88bn by 2027, based on the compound annual growth rate (CAGR) of 46.5%. Below you can see the five year turnover forecast for the RTIC from 2023 to 2027.

Get your free Quantum Economy report

Dig deeper into the UK’s Quantum Economy sector with our free 2023 RTIC report, which includes:

– Summary of RTIC data & industry performance
– Overview of key verticals
– Geographic analysis & breakdown
– Key insights & trends

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Real-Time Industrial Classifications (RTICs)

At The Data City we’re mapping the emerging economy through accurate and reliable real-time data. We’ve produced Real-Time Industrial Classifications (RTICs) for some of the UK’s fastest growing sectors, across over 350 industry verticals, including the Quantum Economy.

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