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  "documentTitle": "Quantum Technology Monitor 2021",
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      "text": "Big tech players benefit from high entry barriers within hardware",
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      "text": "Start-ups focused on various qubit technologies are scaling up. Recently, few start-up companies in ion traps and photonic qubits have raised significant funding and are scaling up. Based on public announcements, superconducting qubits are the most developed; yet some experts believe photonic qubits are technologically ahead.",
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      "text": "Big tech players benefit from high entry barriers within hardware. Due to the complexity of the technology, the hardware segment has high risk and long development times. As a result, players require significant capital and highly specialized knowledge. The hardware segment today is dominated by technology giants, most of which entered the market a decade ago and focus on superconducting qubits.",
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      "text": "Source: CapitalIQ; Crunchbase; Pitchbook; press search; Quantum Computing Report; expert interviews; McKinsey analysis",
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      "text": "Hardware is dominated by big tech players and few scale-ups, with most capital in superconducting qubits",
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