A scale-up data company has launched a new data resource to map the UK’s thriving quantum economy and emerging quantum technology companies.
There are currently 101 businesses in the UK classified as quantum companies by The Data City, with an annual average growth rate of 22.8% per company.
The Quantum Technologies Real-Time Industrial Classifications (RTIC) were built in collaboration with experts from The Department for Science, Innovation and Technology (DSIT), Government Office for Science (GOS), Innovate UK Business Connect and The Data City.
For the first time, the scope of the RTIC is centred on companies that sell or are developing products that directly exploit next-generation quantum technologies. The data was cultivated using resources, including the Innovate UK Quantum challenge directory and Innovate UK Business Connect’s Quantum Landscape Map.
The RTIC consists of companies working across various vertical sectors, such as quantum communication, quantum computing, quantum materials and quantum sensing. RTICs provide a comprehensive and accurate picture of the economy, going beyond the limitations of traditional systems such as Standard Industrial Classifications (SICs) codes.
Quantum technologies are already offering possible solutions to some of the most significant societal challenges and provide future capabilities, from new sensing technologies to help screen for diseases to quantum computers capable of solving problems beyond today’s technology.
Global companies operating successfully in the quantum sector include BT, which is conducting R&D on quantum-secured networks; Quantum Motion, which has been awarded the contract to deliver the first silicon quantum computing prototype to NQCC; Vodafone, collaborating with IBM to explore the enhancements quantum computing can bring to telecommunications; and Thales, which is actively engaged in Quantum Sensing, particularly in the development of a magnetometer sensor for maritime applications.
The Quantum RTIC currently has 15 companies that are spinouts of various UK universities, including Orca Computing and Oxford Ionics, both of which are emerging from the University of Oxford.
lex Craven, CEO of The Data City, said: “With no standardised definition of the quantum sector within the ecosystem, this work defines a framework to determine which companies fall in and out of scope. This places policymakers, businesses and researchers in a position to engage with the quantum sector with greater confidence and enable a greater clarity of understanding.
“The RTIC is the foundation for further analysis of this hugely exciting sector, and the potential the quantum economy offers. This could include estimates of the contribution of quantum to employment, revenue, and productivity, as well as an enhanced understanding of the supply chain. Businesses, think tanks, and government departments are interested in exploring this rapidly growing sector. Our activity forms part of a longer-term collaboration, and we’re working with DSIT, IUK and other partners to publish more new and updated RTICs over the next 12 months, including AI and Advanced Materials.”
