Quantum opportunities and challenges
Building on our expertise
We can build on our existing strengths in quantum research, applied technology and promising start-ups to grow a strong quantum industry across Australia.
- A strong quantum industry will provide Australia with the sovereign capability and expertise to drive future advancement.
- This includes access to, or control over, the skills, technology, intellectual property and infrastructure needed for future technological advancements.
Economic growth, productivity and jobs
- Quantum computing, communications and sensing could add $6.1 billion to Australia’s GDP by 2045.
- These technologies will help grow our tech sector and give an advantage to businesses and industries across the Australian economy.
- Quantum could create sustainable, inclusive and well-paid jobs. By 2030, the Australian quantum sector could create around 8,700 jobs, rising to 19,400 by 2045. The growth of the sector would also support employment across the wider economy, with a total investment impact of over 35,000 jobs by 2045.
Australia can become a destination for international talent and promote the key capabilities that will let local industries succeed. A thriving and trusted domestic ecosystem will be essential for retaining Australia’s talent.
- Attracting early-stage long-term capital is becoming difficult in the current global investment climate.
- Investors are uncertain about development timelines and which technologies to support.
- Research and industry need stronger coordination and collaboration to identify the applications that will increase uptake and investment.
Infrastructure and supply chains
Growth is constrained by limited access to advanced infrastructure such as:
- noisy intermediate-scale quantum computers and prototyping facilities
- quantum materials and tools such as precision machining equipment.
- Countries across the globe are investing billions into quantum technologies and competing for quantum talent.
- Quantum technologies can impact national security, including cyber security.
- Australia could be locked out of cutting-edge technology if it does not invest in its own capabilities, or develop capabilities needed by the world.
- Regulatory frameworks need to remain fit for purpose and responsive to technological developments so they can protect our national interest and ensure ongoing trust and confidence from the Australian public.
Skills, talent and business capability
- Growing our quantum sector depends on a skilled, diverse and inclusive workforce and an effective talent pipeline.
- Australian research institutes and quantum companies have to compete with other countries for the best and brightest minds.
- To harness these opportunities, businesses and their workers will need to be quantum-ready and quantum‑literate.
Quantum technologies boosting the economy
The global quantum computing market is estimated to grow at a compound rate of more than 30% a year over the next 5 years.
In Australia, conservative estimates forecast revenue from quantum computing, communications and sensing could be worth $5.9 billion by 2045. Quantum technology development could contribute $6.1 billion to GDP by the same year. This includes $2.4 billion in indirect benefits due to productivity gains.
The quantum technology industry could directly employ 19,400 people. Adopting quantum technology could create more than 35,000 jobs across the economy by 2045.