Oxford, U.K., 6 February 2025 New research from Oxford Economics, published today, predicts that quantum computing could give the UK an economy-wide productivity boost of up to 7% by 2045 - equivalent to every worker achieving an additional three weeks' worth of productivity per year without working an extra hour. The research shows this could add £212 billion or approximately £7,500 per household[1] - to the UK's GDP, based on a scenario where commercially valuable industry use cases of quantum computing will first be observed in 2035.
The modelling also predicts that if quantum computing becomes commercially viable earlier, by 2029, the UK could see an economy-wide productivity increase of up to 8% by 2040, adding more than £200 billion to national GDP.
Government support crucial
The report notes the UK is among the global leaders in quantum computing and is home to the largest number of quantum start-ups in Europe, with world class research facilities. However, it finds this advantage could be lost without appropriate government funding and support for the industry.
Quantum computers have the potential to solve computational problems that are either impractical or impossible for today's traditional super-computers to perform on their own. Experts believe this will lead to significant advancements, from accelerating drug discovery and optimising energy grids to enhancing cyber security.
The report, Ensuring That The UK Can Capture The Benefits of Quantum Computing', investigates the importance of the contribution of the UK's quantum ecosystem to the economy, today and in the future. It also looks at how the sector is funded relative to its international competitors and the benefits it might bring to key UK industries.
Key findings include:
Boost to UK productivity and GDP
Year
Productivity Increase
GDP Equivalent
Scenario 1: Quantum Computing Becomes Commercially Viable by 2035
2035
1%
£23 billion
2040
4%
£98 billion
2045
7%
£212 billion
2050
8%
£284 billion
Scenario 2: Quantum Computing Becomes Commercially Viable by 2029
2035
5%
£95 billion
2040
8%
£200 billion
2045
8%
£239 billion
2050
8%
£285 billion
Source: Oxford Economics
Sector-specific productivity gains from quantum computing, under the scenario in which commercially viable industry use cases of quantum computing are first observed in 2035
Expected
productivity
gain by 2055
Industry CAGR
with quantum computers
Industry CAGrR without quantum computers
Economy wide
8%
Electrical manufacturing
54%
2.1%
0.7%
Pharmaceuticals
54%
4.5%
3.0%
Oil and gas
46%
7.9%
6.6%
Defence
33%
4.9%
4.0%
Business services
32%
3.8%
2.8%
Transport
26%
3.8%
3.1%
Chemical products
26%
4.6%
3.8%
Financial services
24%
4.7%
4.0%
Agriculture
10%
3.2%
2.9%
Source: Oxford Economics
Funding gap between the UK and peer nations
UK quantum hardware funding per company is 10x smaller than major competitors including France and Australia.
Increasingly, governments around the world are recognising the importance of quantum technologies to national security with many large-scale funding announcements being made by defence departments.
Contribution of the UK quantum sector to the economy
The average labour productivity of the UK quantum sector (as measured by gross value added per worker) is £128,020 more than twice as much as the average UK worker contribution of £61,900.
The report estimates that in 2023 the direct contribution to UK GDP of the quantum computing industry was £135 million.
This is projected to increase to £706 million in 2034, between £1.7 billion and £3.8 billion by 2045, and between £2.1 billion and £4.5 billion by 2055, based on pessimistic, general and optimistic scenarios.
UK-wide job creation
In the most optimistic scenario, the modelling shows the number of jobs created by the UK quantum sector could increase from 5,100 in 2023 to up to 26,900 by 2034, 126,100 by 2045, and 148,100 by 2055.
Of these, only 24% will be in the sector itself, with the rest forecast to be supported in its supply chain and through consumer spending from those employed in the sector.
In 2055, the sector is forecast to have an employment multiplier of 4.2. This means for every 10 people projected to be employed in the quantum computing sector itself, another 32 are predicted to be employed around the rest of the UK.
Andy Logan, Director, Oxford Economics, said: Our analysis makes clear that the UK's quantum ecosystem has the potential to deliver significant economic benefits in the future in terms of economic growth, skilled jobs, and wider productivity gains. These will make several British industries more competitive and enhance the population's standard of living. But to take advantage of the opportunity, government and the industry need to work together to ensure industry is appropriately funded and develops successfully to be globally competitive.
Gerald Mullally, Interim CEO, Oxford Quantum Circuits, said: The UK is home to one of the strongest quantum ecosystems in the world, with world-class talent and research already driving breakthroughs. Quantum technology presents a once-in-a-generation opportunity to transform some of our most impactful and important industries and to secure the UK s position as a global leader in the next technological revolution. To seize this opportunity, we need bold, long-term commitment from the government as a strategic investor, customer, and partner. Other nations are moving fast, and without decisive action, the UK risks falling behind in a race that will define the future of technology and economic competitiveness."
Dr Nicola Hodson, Chair, IBM UK & Ireland, said: From accelerating scientific discoveries, to strengthening national security and turbocharging productivity, this research underl
Europe Stories
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
07/10/2026
Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
21/08/2026
Hardware-style timing shifts for software instruments
Following on from the release of Omniclock, Rapid Flow have launched a new sequencer plug-in that can ...
21/08/2026
Highly anticipated synthesizer ships in October 2026
Iceland-based Love Synthesizers have announced that their highly anticipated synthesizer is now availab...
21/08/2026
Masterpiece PBS The Forsytes has expanded its cast as its begins production in ...
21/08/2026
The BBC has unveiled first-look pictures from The Witch Farm, a new ghost story and mystery set in the Welsh countryside, coming soon to BBC iPlayer and BBC One...
21/08/2026
The BBC and BritBox have revealed the first look of Edward Bluemel as Hercule Poirot in the forthcoming six-part series Hercule from Mammoth Screen and Agatha C...
21/08/2026
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
21/08/2026
** MEDIA ALERT **
VIZ Media Takes Over Anime NYC with BLEACH, BLACK TORCH, M...
21/08/2026
Tell us a little bit about your job I'm a Marketing Manager and work across a mix of clients and projects. No two days are ever quite the same, which defini...
21/08/2026
Beat The Lotto dives into the plot behind the 1980s National Lottery scandal
24 August 2026 at 9:35pm on RT One and RT Player
Beat The Lotto is the story o...
21/08/2026
The countdown to the most wonderful night of the year has officially begun!
Host Patrick Kielty is gearing up for another unforgettable Late Late Toy Show nig...
21/08/2026
Meet puppet duo Bellie and Whizz, who are about to explore all the big feelings ...
20/08/2026
Set up your own private remote collaboration infrastructure
SoundBridge have recently put together a tutorial video that provides users with a step-by-step ...
20/08/2026
New V-Control Pro features restore basic functionality
Neyrinck's V-Control software has long been keeping older Avid control surfaces compatible with n...
20/08/2026
TV, BritBox and Mammoth Screen have announced that filming is now underway on th...
20/08/2026
Thursday 20 August 2026
Nina Sosanya, Rizzle Kicks, Roman Kemp and Paul Whiteho...
20/08/2026
Wuppertal August 20, 2026
Transformation Church Elevates Production Communicat...
20/08/2026
The music between the notes Coming together In the middle of 2026, as conversations around artificial intelligence continue to raise questions about how musi...
20/08/2026
Arvato Systems Brings Together Digital Transformation Leaders in the Manufacturi...
19/08/2026
Studio owners invited to have their say on rates cuts
The Music Producers Guild (MPG) are inviting UK-based studios to take part in an in-depth survey that ...
19/08/2026
Vintage-inspired desktop interface revealed
Harrison's latest hardware offering sees them head into the world of audio interfaces, delivering a 10-in/12...
19/08/2026
Granular effect remains locked to scale and tempo
Described as your dream granular effect , Minimal Audio's latest creation is capable of turning any s...
19/08/2026
First polyphonic SWAM instrument incoming
Audio Modeling's latest physical-modelling orchestral instrument is just around the corner, and is now availab...
19/08/2026
There's an early Christmas gift for Bookish fans, as UKTV confirms the re-commission of the hit U&alibi drama, created by and starring Mark Gatiss. Viewers ...
19/08/2026
Wednesday 19 August 2026
Sky gives sports fans the chance to watch multiple liv...
19/08/2026
On Saturday September 5 Katie Taylor will step into the ring for the fight of her life against Flora Pili in front of 80,000 fans in Croke Park. A legendary fig...
18/08/2026
Company launch with stereo-imaging tool
Panoramic is the debut release from Panorama Labs, a new company formed by mastering engineer Nicholas Di Lorenzo. C...
18/08/2026
Control software now available for older interfaces
Focusrite have just announced the launch of an update that extends Control 2 software support for their ...
18/08/2026
Tuesday 18 August 2026
Sky Sports and The Fast and the Curious announce new partnership
Sky Sports and The Fast and the Curious have announced a new long-term...
18/08/2026
Wuppertal August 18, 2026
Riedel Brings Professional Live Production Into the Classrooms of ECURiedel Communications today announced that Edith Cowan Universi...
18/08/2026
Apple today announced changes to its business terms for apps in the European Uni...
18/08/2026
THE HEALY RAES: BLOOD, SWEAT & TEARS AIRS WEDNESDAY AUGUST 19 ON RT ONE AT 9:35PM
A new documentary The Healy-Raes: Blood, Sweat & Tears airs on RT One and ...
18/08/2026
Stunning Irish performances at European Athletics and Swimming Championships rea...
18/08/2026
The two-part series begins Sunday 23 August at 6.30pm on RT One and RT Player
...
17/08/2026
New MIDI processor & macro controller revealed
SHIK have announced that they have opened pre-orders for the S32, a standalone MIDI processor and macro contr...
17/08/2026
Cover extended on innovative motorised pot system
Melbourne Instruments have just revealed that the innovative motorised pot system used in their synths and...
17/08/2026
Latest firmware version now available
1010music have just released a free firmware update that brings some nice new features to their renowned Bluebox digit...
17/08/2026
Rohde & Schwarz showcases integrated defense and test solutions at DALO Industry...
17/08/2026
Calrec's ImPulseV Virtualised Audio Mixing Engine joins NEP Platform, the industry's largest ecosystem of trusted production software, bringing scalable...
17/08/2026
Visitors to IBC 2026 will see how FilmLight is reshaping the modern post pipelin...
17/08/2026
Visitors to Stand 1.C41 can explore innovations in areas such as addressable advertising, hybrid distribution, managed services and operational simplification.
...
16/08/2026
Virtual drummer joins line-up
The latest release from Gospel Musicians adds a virtual drummer to the company's line-up, combining a pair of meticulously...
15/08/2026
In-ear monitoring line-up gains new universal models
In-ear monitoring experts JH Audio have just announced a significant expansion of their Universal-Fit r...
14/08/2026
Latest instalment delivers disco-inspired grooves
The latest addition to UJAM's virtual drum line-up has been designed with contemporary pop, disco, dan...
14/08/2026
Elite range gains giant 24-inch powered sub
The latest expansion of Yorkville's Elite range introduces what the company say is the world's first act...
14/08/2026
Friday 14 August 2026
Breaking news! Sky releases trailer for The Paper, return...
14/08/2026
It's been one year since our client, Cotswolds Designer Outlet, opened its doors and we've loved seeing the scheme come to life. Together, we've hel...
Oxford, U.K., 6 February 2025 New research from Oxford Economics, published today, predicts that quantum computing could give the UK an economy-wide productivity boost of up to 7% by 2045 - equivalent to every worker achieving an additional three weeks' worth of productivity per year without working an extra hour. The research shows this could add £212 billion or approximately £7,500 per household[1] - to the UK's GDP, based on a scenario where commercially valuable industry use cases of quantum computing will first be observed in 2035.
