Quantum catchup called
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Experts warn Australia and New Zealand are falling behind in the quantum race.
The nations are underperforming in the commercialisation of photonics and quantum technologies, despite significant investments and research advancements, according to a recent report.
The review by the Australian and New Zealand Optical Society (ANZOS), supported by SPIE, finds that the industry’s compound annual growth rate (CAGR) is only 2.8 per cent, well below the global average of 7.3 per cent over the past decade.
The Australasia region now trails behind Asia, the United Kingdom, and North America in developing these core technologies.
The photonics and quantum technologies sector in Australasia has grown to AU$6 billion and employs over 34,000 people. However, these figures still lag behind global competitors.
ANZOS Vice-President David Lancaster, who also serves as the EOS Chair in Laser Physics at the University of South Australia, has called the report a “wake-up call” for the region.
He says Australia must capitalise on its research investments and improve its ability to commercialise these technologies.
“Australia must demonstrate it can monetise that and keep pace with the rest of the world,” Lancaster said.
Photonics and quantum technologies are central to many emerging applications, from quantum computing to precision timing, secure communications, and self-driving cars.
These technologies are also critical for MRI scans, GPS vulnerability management, and space exploration.
The Australian Government’s National Quantum Strategy identifies quantum technology as “critical”, leading to substantial federal investments, including direct support for PsiQuantum, a quantum computing firm.
Frederique Vanholsbeeck, President of ANZOS, has described the report as both “disturbing and timely”.
She urged closer collaboration between government, businesses, and academic institutions to develop a strategic approach for leveraging the region's research excellence.
Vanholsbeeck noted that the global market for photonics-enabled products exceeded US$2.39 trillion last year, presenting a significant commercial opportunity that Australasia risks missing.
The report also identifies challenges in skills development, infrastructure, and the transfer of technology from research to industry.
It includes perspectives from venture capitalists, policymakers, and researchers, along with commentary from Australia’s Chief Scientist, Dr Cathy Foley.
SPIE’s Senior Director of Global Business Development, Dr Andrew Brown, says that a robust innovation ecosystem is necessary for Australasia to realise its potential in this sector. “Australasia needs a functioning, healthy innovation ecosystem in place for the industry to grow and reach its full potential,” Brown said.
Despite the clear potential of photonics and quantum technologies, the report concludes that both Australia and New Zealand must take immediate action to overcome current barriers and accelerate the commercialisation of their technological innovations.