Quantum Computing Technology Area Benchmark Q3 2024

This technical report presents a benchmark of the quantum computing technology area for the third quarter of 2024. It outlines the current state of commercial quantum hardware and software, focusing on developments from July through September 2024. The report details major advancements in quantum computing, including the demonstration of quantum advantage for many-body problems, which indicates that quantum computing can outperform classical computing in specific simulations. The report also discusses the funding landscape, noting that while government funding is more prevalent outside the U.S., private investment is stronger within the country. Additionally, it highlights the activities of 33 benchmarked organizations in the field, providing insights into their recent developments and contributions to the industry. The document emphasizes the early-stage nature of quantum computing as an emerging technology and tracks key indicators of maturity within the sector.