Quantum Computing Market

Quantum Computing Market Size by Component (Quantum Hardware, Quantum Software and Quantum Services), Deployment Model (On-Premises and Cloud-Based), Technology Type (Superconducting Qubits, Trapped Ion Qubits, Photonic Quantum Computing, Topological Quantum Computing and Quantum Annealing), End-User Industry (Banking & Finance, Healthcare & Pharmaceuticals, Aerospace & Defence, Manufacturing & Automotive, Energy & Utilities and Government & Research Institutes), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2025 to 2034

Base Year: 2024 Historical Data: 2021-23
  • Report ID: TBI-14786
  • Published Date: Jul, 2025
  • Pages: 238
  • Category: Information Technology & Semiconductors
  • Format: PDF
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Market Introduction

The global quantum computing market was valued at USD 1.42 billion in 2024 and grew at a CAGR of 30% from 2025 to 2034. The market is expected to reach USD 19.57 billion by 2034. The rapid advancements and innovations in quantum computing will drive the growth of the global quantum computing market.

Quantum computing uses quantum mechanics to handle information in an entirely new and possibly stronger way compared to regular computers. Unlike the standard computers where data is bits and can only be 0 or 1, quantum computers use quantum bits or qubits. The ability of qubits to have superposition enables them to be 0 and 1 all at once. Therefore, quantum computers can review a lot of different options at the same time, helping them handle some tough problems better than other types of computers. One more important aspect of quantum computing is entanglement, during which two qubits interact with each other and affect each other’s states, no matter how far away they are. Working together helps quantum computers multiply their computational powers as additional qubits are included. New advances in cryptography, optimization, finding drugs, and materials science may soon come from the development of quantum computing. As an example, quantum algorithms can factor large numbers at a much faster rate than classical algorithms, making both the good and bad possible in cybersecurity. Quantum computers find answers more quickly and efficiently because of their ability to look at many possibilities at the same time. Besides, running calculations on quantum computers makes it easier to design new drugs and substances, something traditional computers cannot do as well. However, qubits are easily disrupted by common noise and need advanced error correction techniques along with very stable quantum equipment, which is usually used at temperatures very close to zero. Although there are difficulties, fast progress made by various groups worldwide keeps raising the limits of quantum computing.

Quantum Computing Market Size

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Recent Development

  • According to its roadmap, Oxford Quantum Circuits (OQC), a company that specialises in quantum computing, plans to have 200 logical qubits by 2028 and 50,000 by 2034.  According to the UK-based company, it is on track to develop practical quantum computers in three years. The latter target is expected to find use in national security, defence, cybersecurity, fraud detection, and drug discovery.  According to OQC, the roadmap is predicated on quantum computing moving from the so-called physical era to the logical era, in which the number of logical qubits—rather than the number of noisy and flawed physical qubits before they are corrected for errors—defines the capabilities of quantum systems.

Market Dynamics

Drivers

Advancements in quantum hardware and software – Many companies are increasing their demand for quantum computing due to advances in technology. Advancements in both quantum hardware and software are the most important points. Quantum systems are now more advanced and prove to be more useful to businesses and researchers because SQD combines the greatest features of high-performance quantum computers with high-performance classical computers to solve intriguing simulation challenges. With the advancement of hardware and related quantum software, more users, small or big, are eager to use quantum computing tools. The developments simplify the way people can use quantum technology and open more opportunities for others, generating more demand. The investment of more funds in research and development by technology companies, startups, and academic institutions is another key force that helps quantum computing advance and support progress. Many corporations are actively including quantum computing in their plans to use it for better operations, resolving complicated issues, and staying ahead of their rivals. Basically, a mix of new technologies, expanding communities for developers, more R&D spending, and corporate planning is what gives rise to the demand for quantum computing in organizations.

Restraints

High costs associated with acquiring, operating and maintaining quantum computing There is a significant challenge when it comes to the high expenses of making, maintaining, and running quantum devices. One of the problems is that because of the special equipment, very low temperatures, and advanced hardware needed, quantum systems are not accessible and too expensive for small firms and startups. Quantum computing technology is in its early years and regularly deals with problems like qubits not being stable, a lot of errors, and difficulties increasing the number of qubits. Moreover, only a few skilled workers understand quantum mechanics, quantum algorithms, and quantum programming languages. Additionally, blending quantum computing and traditional IT systems takes a lot of effort and costs, which is slowing the process of using it. All these problems make the environment a bit uncertain regarding investments in quantum computing, and this limits its use in a broad range of industries.

Opportunities

Rapid automation, digitization and advent of big data across industries – Many outside factors, linked to changes in the industry and markets, are having a big impact on the demand for quantum computers. One of the most important external factors is that computational problems in the pharmaceutical, financial, logistics, and cybersecurity industries are getting more complex. Quantum computing is considered a helpful option because traditional computers have trouble providing fast answers to challenges in these sectors. Across the globe, support from the government is playing a big part in increasing demand. A lot of nations are offering considerable funds, detailed policies, and even setting up large quantum hubs, which encourages wider acceptance in the market. Besides, as digital transformation and Industry 4.0 develop, dependence on modern AI, machine learning, and big data analytics is growing, which suits quantum computing because it offers distinct advantages here. Additionally, the increasing awareness and knowledge about quantum computing among business leaders and professionals in the tech sector is encouraging early tests and experimental spending, which is increasing demand from outside the industry.

Segment Analysis

Regional segmentation analysis

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global quantum computing market, with a 35% market revenue share in 2024.

In North America, a strong technology system, significant investments, and a large collection of major firms and research centres are behind its strong position in quantum computing market. The nation, mainly the United States, has a solid base for advanced research and development built on leading universities, national organizations, and government bodies like NIST and the Department of Energy. These institutions bring about new technologies and important investments in the field of quantum hardware, software, and applications. Some leading tech companies such as IBM, Google, Microsoft, and Honeywell in North America also augment the market by investing in research and development in quantum computing. For example, their attention to building quantum computers, quantum cloud services, and their quantum community have formed an active quantum industry cluster. Additionally, the area’s strong position comes from the existence of many startups that focus on quantum software, algorithms, and specialized quantum applications. Through the introduction of the National Quantum Initiative Act, the government has supported and continued to drive research and relationships with industries.

North America Region Quantum Computing Market Share in 2024 - 35%

 

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Component Segment Analysis

The component segment is divided into quantum hardware, quantum software and quantum services. The quantum hardware segment dominated the market, with a market share of around 36% in 2024. In quantum computing, the functioning of qubits is mainly dictated by the unique hardware responsible for those tasks. Stable and scalable quantum hardware is important since it affects the success, smooth running, and varied uses of quantum computers. Both the top technology companies and startups are concentrating their investments on creating better hardware to lessen quantum computer faults and make them more powerful. As a result, the part of quantum computing supported by hardware gets the largest share of funding, skilled people, and strategic collaboration. Improvements in quantum hardware usually determine the development of software and service enhancements, since software used for complex tasks needs compatible hardware to work effectively. Quantum-focused companies such as IBM, Google, Rigetti, and IonQ are demonstrating quick strides in the field to boost their position and win in the emerging market. In conclusion, since quantum computation depends on quantum hardware and requires big investments, it holds the most important place in the quantum computing industry.

  • According to a recent article from HBKU College of Science and Engineering, Qatar's first quantum computing laboratory has officially opened at Hamad Bin Khalifa University.  HBKU's College of Science and Engineering is home to the Qatar Centre for Quantum Computing, a nationwide research project that created the facility.  The Ministry of Defence in Qatar, which has designated sovereign quantum capabilities as a strategic priority for the nation, is funding the facility with a $10 million research grant.

Deployment model Segment Analysis

The deployment model segment is divided into on-premises and cloud-based. The cloud-based segment dominated the market, with a market share of around 53% in 2024. Most organizations worldwide prefer cloud-based quantum computing because it is accessible, affordable, and able to deal with increasing workloads. It is not easy for most businesses to use on-premises quantum computers because they are very expensive, intricate, and need certain infrastructure. Cloud offerings let people including researchers, startups, and big organizations benefit from quantum computing without the cost of buying expensive hardware. IBM, Google, Microsoft, and Amazon are among the top companies that have introduced cloud quantum services so that users can use quantum hardware and tools with flexible billing options. Also, cloud quantum computing helps experts in different places team up, encouraging progress in this field. Cloud platforms help businesses to grow or reduce their quantum operations, following the trends of digital transformation and Industry 4.0.

  • Aqarios' goal of offering scalable, easily accessible quantum optimisation tools has reached a major milestone with the formal launch of version 1.0 of its Luna platform.  With significant performance enhancements, improved usability, and expanded support for real-world optimisation scenarios, the Munich-based quantum software business presented this release as a solid upgrade to its previous v0.9 edition.  The goal of Luna v1.0 is to make it possible for users, even those who are not familiar with quantum computing, to create, test, and implement optimisation models in a variety of sectors, including manufacturing, energy, logistics, and finance.  AqModels, a fully integrated modelling framework, and a revamped documentation portal are also included in the upgrade with the goal of streamlining end-to-end processes.

Technology type Segment Analysis

The technology type segment is divided into superconducting qubits, trapped ion qubits, photonic quantum computing, topological quantum computing and quantum annealing. The superconducting qubits segment dominated the market, with a market share of around 34% in 2024. Superconducting qubits are seen as the main quantum computing technology because they are more advanced, can be mass-produced, and use techniques common in semiconductor industry. Temperature controlled superconducting loops help qubits exhibit the features needed for quantum computation. The way leading technology companies such as IBM, Google, and Rigetti have invested in research and development of superconducting qubits is one reason they play a key role in the industry. By showing higher qubit numbers, longer coherence periods, and reduced errors, such companies have made superconducting qubits better for early use in quantum computing. There is a faster and more affordable way to scale them than with trapped ions or photonics because the semiconductor industry’s well-tested microfabrication techniques work for superconducting qubits. Another good thing about superconducting qubits is that they are very fast, which suits executing complicated quantum algorithms. Even though there are difficulties with maintaining super-cold temperatures and fixing errors in dilution refrigerators, the major progress in materials, designs, and electronics has encouraged scientists to rely more on superconducting qubits for large-scale quantum computing.

  • Researchers from IBM Quantum and Lockheed Martin show how a quantum computer may assist in precisely modelling the electrical structure of certain molecules in a recent work that was published in The Journal of Chemical Theory and Computation. A significant turning point for quantum chemistry and its uses in materials design, sensing, and aerospace is the new study's first application of the sample-based quantum diagonalisation (SQD) technique to open-shell systems. IBM researchers think it is a strong contender for near-term demonstrations of quantum advantage because SQD combines the greatest features of high-performance quantum computers with high-performance classical computers to solve intriguing simulation challenges.

End-user industry Segment Analysis

The end-user industry segment is divided into banking & finance, healthcare & pharmaceuticals, aerospace & defence, manufacturing & automotive, energy & utilities and government & research institutes. The banking and finance segment dominated the market, with a share of around 35% in 2024. The finance and banking industry is the biggest user of quantum computing because it requires advanced processes to handle the difficult challenges in financial markets. With quantum computing, this industry can carry out risk analysis, boost portfolio optimization, prevent fraud, and algorithmic trading more efficiently since such tasks often have very complex challenges not handled well by regular computers. Since the financial environment is both highly competitive and closely monitored, institutions have to use new technologies like quantum computing to make decisions with ease and accuracy. In addition, the possibility of attacks using quantum computers on today’s cryptography has led banks and financial firms to use quantum-safe security methods and prepare for the move to updated security protocols. The benefits of relying on quantum computing to calculate complex simulations in relation to derivatives and financial testing fit the financial sector’s standards for accuracy and dependability.

Some of the Key Market Players

  • Alibaba Group
  • D-Wave Systems
  • Google
  • Honeywell Quantum Solutions
  • IBM
  • Intel Corporation
  • IonQ
  • Microsoft
  • PsiQuantum
  • Rigetti Computing
  • Xanadu Quantum Technologies
  • Zapata Computing

Report Description

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2024 USD 1.42 Billion
Market size value in 2034 USD 19.57 Billion
CAGR (2025 to 2034) 30%
Historical data 2021-2023
Base Year 2024
Forecast 2025-2034
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. Furthermore, the regions are further analyzed at the country level.
Segments Component, Deployment Model, Technology Type and End-User Industry

Frequesntly Asked Questions

As per The Brainy Insights, the size of the global quantum computing market was valued at USD 1.42 billion in 2024 to USD 19.57 billion by 2034.

Global quantum computing market is growing at a CAGR of 30% during the forecast period 2025-2034.

The market's growth will be influenced by advancements in quantum hardware and software.

High costs associated with acquiring, operating and maintaining quantum computing could hamper the market growth.

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This study forecasts revenue at global, regional, and country levels from 2021 to 2034. The Brainy Insights has segmented the global quantum computing market based on below mentioned segments:

Global Quantum Computing Market by Component:

  • Quantum Hardware
  • Quantum Software
  • Quantum Services

Global Quantum Computing Market by Deployment Model:

  • On-Premises
  • Cloud-Based

Global Quantum Computing Market by Technology Type:

  • Superconducting Qubits
  • Trapped Ion Qubits
  • Photonic Quantum Computing
  • Topological Quantum Computing
  • Quantum Annealing

Global Quantum Computing Market by End-User Industry:

  • Banking & Finance
  • Healthcare & Pharmaceuticals
  • Aerospace & Defence
  • Manufacturing & Automotive
  • Energy & Utilities
  • Government & Research Institutes

Global Quantum Computing Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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