New UK Data Resource Reduces Quantum Uncertainty

Leeds, UK-based real-time company data and classification system The Data City has launched a new data resource to map the UK's 'thriving' quantum technology economy and the estimated 101 companies operating in it.

The company helps clients in both public and private sectors to understand the economy in 'real time', including policymakers, economists, investors and analysts. It promises a better classification system than the venerable SIC codes, which do not reflect changes in the economy and continue to group large numbers of very different firms in 'other' categories (example here). Its database currently comprises some 5.3 million UK companies and more than 400 classifications or RTICs.

The new Quantum Technologies RTIC was built in collaboration with experts from The Department for Science, Innovation and Technology (DSIT), Government Office for Science (GOS) and Innovate UK Business Connect. The RTIC is centred on companies that sell or are developing products that directly exploit next-generation quantum technologies - including quantum communication, quantum computing, quantum materials and quantum sensing - and the firm says the 101 players, who include the likes of BT, Quantum Motion, Vodafone and Thales - boast an annual average growth rate of 22.8%. Fifteen are spinouts from UK universities, including Orca Computing and Oxford Ionics, both of which are emerging from the University of Oxford.

Data City CEO Alex Craven (pictured) comments: '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'.

Craven says the company will publish more new and updated RTICs over the next twelve months, including AI and Advanced Materials.

Web site: www.thedatacity.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.