Australia’s national science agency has upgraded its market projections for quantum technology.
CSIRO expects quantum technology to generate 8700 jobs by 2030 before more than doubling to 19,400 by 2045, according to new modelling.
The sector’s revenue is tipped to hit $2.2 billion by 2030 and almost $6 billion (US$3.78 billion) by 2045.
The modelling released on Wednesday assumes Australia can capture five per cent of the global quantum technology market opportunity based on its current share of investment and research workforce.
CSIRO head Larry Marshall said Australia is now at a “tipping point” between research and commercial development.
“We need to harness our bold vision for what this breakthrough technology could mean for some of our largest industries,” he said….