CBI Economics analyses the contribution – and the potential – of one of the UK’s most innovative sectors.
Key takeaways
- The UK quantum industry currently contributes £1.7 billion in GVA to the UK economy
- Quantum firms already support an estimated 20,000 full-time equivalent (FTE) employees across the UK
- And they're 33% more productive than the national average, adding £93,000 in GVA per FTE job to the UK economy.
Quantum technology is still very much in its infancy. It’s yet to generate the same attention as other innovative technology such as AI and machine learning. But it has the potential to have a huge impact on everything from healthcare and financial services to defence and even weather services.
CBI Economics has teamed up with The Data City to bring you the facts about the industry leading the charge in developing quantum technologies and analyse the impact the quantum industry is already making on the UK economy.
Due to the nature of the quantum industry, it’s difficult to map these companies onto traditional Standard Industrial Classification (SIC) codes and as a result it can be hard to determine the economic impact of the industry. So we’ve used our proprietary in-house model to estimate the economic contributions of quantum companies that fall within The Data City’s definition of the industry. That covers software, comp
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