Market Overview

The Quantum Computing Market size was valued at around 1.09 billion in 2024 and is expected to reach a value of USD 16.22 billion by 2034, at a CAGR of 30.9% over the forecast period (2025–2034).

Quantum computing is a subfield of computer science based on quantum theory. It is a cutting-edge technology that uses quantum mechanics to solve more difficult problems for classical computers and is rapidly developing. Quantum computers have made it possible to use concepts from quantum physics in computing. It differs from standard computing in terms of speed, data, and bits. Most of the time, the system is used to compare and select the best answer to a complex problem. Quantum computers can be utilized to create more exact and productive machine learning calculations utilized in applications such as picture and discourse acknowledgment.

The companies are focusing on expanding their business units across developing nations. For instance, in June 2022, Xanadu launched Borealis, which outperforms the most promising classical supercomputers at distinct tasks and is available to users everywhere through Amazon Braket and Xanadu Cloud. It is a programmable photonic quantum computer with a quantum computational edge of 216 squeezed-state qubits.

The global expansion of computing services was significantly impacted by the COVID-19 outbreak. The proportion of private and venture capital-backed investments in quantum computing increased significantly in the second half of 2021. This rise accounted for over 70% of investments, indicating a growing belief among businesses in the technology's potential benefits. Hence, considering the above factors, Artificial Intelligence (AI), cloud computing, and other technologies are expected to be the disruptive technologies to enable future platforms.

Market Drivers

Advancements in Quantum Hardware & Algorithms

• Continuous advancements in quantum processors, qubit stability, and error correction are driving the commercialization of quantum computing. Modern quantum processors are evolving with increased qubit counts, enhanced connectivity, and reduced error rates, improving computational power. Qubit stability (coherence time) is being extended using techniques like superconducting circuits, trapped ions, and topological qubits, making computations more reliable. Error correction methods such as surface codes and quantum error correction algorithms are mitigating decoherence and quantum noise, a major challenge in scaling quantum systems. These improvements enhance hardware reliability, making quantum computing more viable for real-world applications in cryptography, drug discovery, and optimization problems. As a result, industries are increasingly exploring quantum computing for high-performance problem-solving.

Rising Investments by Governments & Tech Giants

• Governments worldwide are investing heavily in quantum research to secure technological leadership. The U.S., through initiatives like the National Quantum Initiative Act, has allocated billions to quantum computing. China leads with substantial funding, establishing the Hefei-based quantum research lab and launching a quantum satellite (Micius) for secure communications. The EU, through the Quantum Flagship program, is investing €1 billion in quantum technologies over a decade. In the private sector, IBM, Google, and Microsoft are driving innovation. IBM's Quantum Network provides cloud-based quantum access, while Google’s Sycamore processor achieved quantum supremacy. Microsoft focuses on topological qubits for improved stability. These efforts accelerate quantum advancements, fostering breakthroughs in cryptography, AI, and material science.

Market Opportunity

Breakthroughs in Quantum Error Correction

• Reducing quantum errors is crucial for making quantum computers more reliable and scalable. Quantum systems are highly susceptible to decoherence and noise, which cause qubits to lose information rapidly. To address this, researchers are developing quantum error correction (QEC) techniques, such as surface codes and Shor’s algorithm, to detect and fix errors without disrupting calculations. Improved error correction enhances fault tolerance, allowing quantum processors to perform longer and more complex computations. Logical qubits, created from multiple physical qubits, improve accuracy, making large-scale quantum systems feasible. As error rates decline, quantum computers can handle real-world applications in drug discovery, materials science, and financial modelling, accelerating commercial adoption and unlocking their full potential.

Integration with Classical Computing Systems

• Hybrid quantum-classical computing combines the strengths of quantum and classical systems to solve complex optimization problems in industries like logistics, supply chain, and finance. Classical computers handle routine tasks, while quantum processors tackle exponentially difficult problems such as route optimization, portfolio risk assessment, and supply chain efficiency. For example, quantum algorithms like QAOA (Quantum Approximate Optimization Algorithm) can optimize logistics networks by finding the most efficient delivery routes. In finance, quantum models can enhance risk management by analyzing vast datasets more efficiently than classical systems. By integrating quantum speed with classical reliability, hybrid computing accelerates problem-solving, enabling businesses to make faster, data-driven decisions, reducing costs, and improving efficiency across industries.

Market Restraining Factors

Competition from Classical Supercomputers

• High-Performance Computing (HPC) systems continue to advance, narrowing the immediate need for quantum computing in some sectors. Modern supercomputers, powered by GPUs, TPUs, and specialized AI chips, are becoming increasingly efficient at solving complex problems in weather forecasting, genomics, and financial modelling. For example, exascale computers like Frontier (Oak Ridge National Laboratory) can process over 1 exaflop (10¹⁸ calculations per second), handling many tasks that quantum systems aim to tackle. AI-driven optimizations and parallel processing further enhance classical computing performance. While quantum computing holds long-term promise, the ongoing improvements in classical HPC, lower costs, and established infrastructure mean many industries can achieve significant performance gains without waiting for quantum advancements to become fully practical.

Scepticism Surrounding Quantum Computing’s Commercial Viability and ROI

• Despite rapid advancements, many industries remain sceptical about the commercial viability and return on investment (ROI) of quantum computing. Developing quantum systems requires massive investments in hardware, research, and skilled talent, with uncertain short-term benefits. Quantum computers are still in the early stages, with error-prone qubits and limited practical applications. Businesses question whether current quantum capabilities can justify the high costs compared to improving classical HPC. Additionally, there is uncertainty about when quantum advantage—where quantum computing outperforms classical methods—will be achieved for real-world use cases. As a result, many companies hesitate to invest until quantum computing demonstrates clear, scalable solutions with measurable business impact.

Segmentation Analysis

The market scope is segmented because of by Component, by Deployment, by Technology, by Application, by End-User Industry.

• By Component

Based on the Component of the market is segmented into Hardware, Software, Services.

The hardware segment dominates the quantum computing market, as companies and research institutions invest heavily in building stable and scalable quantum processors. Quantum hardware includes quantum processors, qubits, cooling systems, and quantum chips. Leading players like IBM, Google, and Rigetti Computing focus on developing superconducting qubit-based processors, while others explore trapped ion and topological qubit technologies. For example, Google’s Sycamore quantum processor achieved "quantum supremacy" by solving a complex problem in minutes that would take a classical supercomputer thousands of years.

The software segment is also expanding rapidly, providing quantum programming platforms, simulators, and optimization tools. Companies like Microsoft (Q#), IBM (Qiskit), and Xanadu (PennyLane) offer frameworks for quantum algorithm development, enabling researchers to explore quantum solutions for real-world problems.

The services segment includes consulting, integration, and Quantum Computing-as-a-Service (QCaaS), allowing businesses to access quantum computing through cloud platforms like IBM Quantum, Google Cloud, and AWS Braket. This makes quantum technology more accessible without requiring costly in-house infrastructure. As quantum hardware advances, software and services will play a crucial role in commercial adoption.

• By Technology

Based on the Technology of the market is segmented into Superconducting Qubits, Trapped Ions, Quantum Dots, Topological Qubits.

The superconducting qubits technology dominates the quantum computing market, with companies like IBM, Google, and Rigetti Computing leading advancements. Superconducting qubits operate at extremely low temperatures and use Josephson junctions to perform quantum operations. For example, Google’s Sycamore processor demonstrated quantum supremacy by solving a problem significantly faster than classical computers. Despite challenges like short coherence times and high error rates, superconducting qubits are the most developed and widely used quantum technology.

Trapped ion qubits, used by IonQ and Honeywell, leverage charged atoms (ions) suspended in electromagnetic fields. They offer longer coherence times and higher accuracy compared to superconducting qubits. However, they are difficult to scale due to slow gate operations.

Quantum dots, a promising future technology, use semiconductor nanocrystals to simulate qubits. Researchers at Intel and the University of Sydney are developing scalable quantum dot architectures with the potential for integration into existing semiconductor technology.

Topological qubits, explored by Microsoft, aim to reduce error rates by storing quantum information in "braided" particle states. While still in early development, they promise higher fault tolerance, making them a strong candidate for future quantum computing breakthroughs.

• Regional Snapshots

By region, Insights into the markets in North America, Europe, Asia-Pacific, Latin America and MEA are provided by the study. Due to the early adoption of advanced technologies and a highly competitive market, the North America market holds the largest market share and has experienced high expansion during the forecast period from 2024 to 2032. The North American market's expansion has been positively impacted by end-users' readiness to develop advanced services and the countries' readiness to adopt cloud computing.

Europe is estimated to grow with the third highest CAGR as the region has an increasing number of startups operating in the field of quantum technology. For instance, in January 2023, Paris–based quantum computer startup, PASQAL raised EUR 100 million (USD 109 million) to deliver commercial advantages over classical computers in Europe. Further, a growing number of digital government regulatory environments and initiatives to bring development across European industries using cloud and quantum technology are anticipated to drive market growth and technological advancements in the region during the forecast period. Owing to these reasons, the regional market is projected to exhibit healthy growth in the next few years.

Healthcare, chemicals, and banking and finance are major industries in Asia Pacific. South Korea, China, and Japan are the regions' producers of electronic goods such as gaming consoles, mobile phones, and laptops. Simulation, machine learning, and optimization applications must be addressed across these industries. The rapid expansion of Asia Pacific's expanding economies and the increased use of new technologies in the industrial sector are providing opportunities for the region's medium-sized and large businesses.

Quantum services and systems are in high demand in Asia Pacific, which has a positive impact on the market's expansion. Hence, it is anticipated to grow with the highest CAGR during the forecast period i.e. from 2024 to 2032.

Growing investments in quantum computing technology to bring development across different sectors such as energy, life sciences, and finance across the Middle East & Africa and South America regions helps to drive the product demand during the forecast period. For instance, In February 2022, Saudi Arabia committed USD 6.4 billion investment in advanced technology to boost the demand of quantum computing to emphasize the R&D and technological advancements.

List of Companies Profiled

• IBM Corporation (U.S.)
• D-Wave Systems Inc. (Canada)
• Microsoft Corporation (U.S.)
• Intel Corporation (U.S.)
• Rigetti & Co, Inc. (U.S.)
• Google LLC (U.S.)
• QC Ware (U.S.)
• Quantinuum Ltd. (U.S.)
• Riverlane (U.K.)
• IonQ (U.S.)

Key Industry Developments

November 2023: Terra Quantum, a quantum service provider, collaborated with NVIDIA to develop quantum-accelerated applications. The deal would help bridge the gap between classical and quantum computing, leveraging hybrid algorithms.

October 2023: Fujitsu partnered with RIKEN and developed AI drug discovery technology. This launch of AI drug discovery technology combines the computing power of the newly developed 64 qubit superconducting quantum computer to deliver a new platform to businesses and research institutions.

September 2023: Xanadu, partnered with Electronics and Telecommunications Research Institute (ETRI) to bring advancement in computing technologies using machine learning and artificial intelligence (AI) technologies.

November 2022: IBM entered a collaboration with Vodafone on quantum-safe cybersecurity by joining the IBM Quantum Network. This collaboration would help validate and progress potential quantum use cases in telecommunications.

March 2022: Quix Quantum unveiled new quantum photonic processor. It was developed at QuiX’ facility, in the Netherlands. It performs nearly two times better than current processors. This processor has a record number of qumodes (20) and the highest operating specifications.

Report Coverage

The report will cover the qualitative and quantitative data on the global Quantum Computing Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations

Global Quantum Computing Market Regional Analysis

North America accounted for the highest xx% market share in terms of revenue in the Quantum Computing market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Quantum Computing. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Quantum Computing companies in economies such as Japan and China.

The objective of the report is to present comprehensive analysis of Global Quantum Computing Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

Quantum Computing Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Reasons to Purchase

• To gain insightful analyses of the Quantum Computing market and have comprehensive understanding of the global market and its commercial landscape.
• Assess the production processes, major issues, and solutions to mitigate the development risk.
• To understand the most affecting driving and restraining forces in the market and its impact in the global market.
• Learn about the Quantum Computing market strategies that are being adopted by leading respective organizations.
• To understand the future outlook and prospects for the Quantum Computing market. Besides the standard structure reports, we also provide custom research according to specific requirements.

Research Scope of Quantum Computing Market

• Historic year: 2020-2023
• Base year: 2024
• Forecast: 2025 to 2034
• Representation of Market revenue in USD Million

Quantum Computing Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: