Global Quantum Computing Market Segmentation, By System (Single Qubit Quantum System and Multiple Qubit System), Qubits (Trapped Ion Qubits, Semiconductor Qubits, and Super Conducting), Offering (Systems and Services), Deployment Model (On-Premises and Cloud), Component (Hardware, Software and Services), Application (Cryptography, Simulation, Parallelism, Machine Learning, Algorithms, and Others), Logic Gates (Toffoli Gate, Hadamard Gate, Pauli Logic Gates and Others), Verticals (Banking and Finance, Healthcare and Pharmaceuticals, Defense, Automotive, Chemical, Utilities, and Others) – Industry Trends and Forecast to 2032
Quantum Computing Market Analysis
The quantum computing market is experiencing significant growth, fueled by advancements in quantum hardware, software, and algorithmic techniques. One of the latest methods involves quantum error correction, which is key for improving the reliability and scalability of quantum systems. Researchers have also made strides in quantum annealing and quantum supremacy, enhancing problem-solving capabilities for complex optimization problems in fields such as material science and cryptography.
In terms of technology, companies are utilizing superconducting qubits and trapped-ion qubits, which are becoming more stable and scalable, allowing quantum systems to perform more accurate computations. These technologies are crucial for building fault-tolerant quantum computers capable of surpassing classical systems.
The market's growth is also driven by the integration of quantum algorithms designed for specific industries, such as drug discovery and artificial intelligence. For instance, companies such as IBM and Google are advancing their quantum computing platforms, expanding cloud-based quantum computing services, and offering tools for developers to build quantum applications.
The use of quantum computing in sectors such as healthcare, logistics, and finance is expected to broaden, driving continued market expansion and innovation. The increasing adoption of quantum-as-a-service (QaaS) models is also fostering accessibility for businesses across industries.
Quantum Computing Market Size
The global quantum computing market size was valued at USD 10.40 billion in 2024 and is projected to reach USD 17.87 billion by 2032, with a CAGR of 7.0% during the forecast period of 2025 to 2032. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Quantum Computing Market Trends
“Advancements in Quantum Error Correction”
A significant trend in the quantum computing market is the development of quantum error correction (QEC) techniques. As quantum systems are highly susceptible to errors due to their sensitivity to external noise, QEC aims to ensure the reliability and scalability of quantum computers. Companies such as IBM and Google have made notable strides by integrating error-correcting codes into their quantum processors, which improves their stability and performance. IBM's development of the "Qiskit" framework, which includes error-correction algorithms, allows for more accurate calculations, moving closer to practical quantum computing. This trend plays a critical role in advancing quantum computing from theoretical to commercially viable systems.
Report Scope and Quantum Computing Market Segmentation
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Attributes
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Quantum Computing Key Market Insights
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Segments Covered
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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Honeywell International, Inc. (U.S.), Accenture (Ireland), Fujitsu (Japan), Rigetti & Co, Inc. (U.S.), 1QB Information Technologies, Inc. (Canada), IonQ (U.S.), Atom Computing, Inc. (U.S.), ID Quantique (Switzerland), QuintessenceLabs (Australia), Toshiba Research Europe Ltd. (U.K.), Microsoft (U.S.), Magiq Technologies, Inc. (U.S.), NEC Corporation (Japan), Anyon System Inc. (Canada), CAMBRIDGE QUANTUM COMPUTING LTD (UK), QCWare (U.S.), and Intel Corporation (U.S.)
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Market Opportunities
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Value Added Data Infosets
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Quantum Computing Market Definition
Quantum computing is a revolutionary field that harnesses the principles of quantum mechanics to process information in ways classical computers cannot. Different from traditional bits, which represent data as either 0 or 1, quantum bits (qubits) can exist in multiple states simultaneously, thanks to superposition. Additionally, quantum entanglement allows qubits to be linked, enabling faster and more efficient problem-solving. Quantum computers have the potential to significantly impact fields such as cryptography, material science, artificial intelligence, and complex simulations. However, they are still in the early stages, with challenges in stability and scalability to be overcome before widespread practical use.
Quantum Computing Market Dynamics
Drivers
- Demand for High-Performance Computing
Industries such as pharmaceuticals, aerospace, and finance are experiencing an increasing need for high-performance computing (HPC) to tackle complex simulations and data analysis. Quantum computers offer the computational power required for these industries to process massive datasets, optimize algorithms, and solve problems that traditional systems cannot handle. In pharmaceuticals, quantum computing aids in drug discovery by simulating molecular interactions more efficiently. In aerospace, it helps optimize flight patterns and material designs. In finance, quantum computing can improve risk analysis and portfolio optimization. As these sectors recognize the benefits, their demand for quantum technology is accelerating market growth, with companies such as IBM and Google leading the charge in delivering quantum computing solutions for these industries.
- Quantum Simulation in Chemistry and Materials Science
Quantum computing plays a crucial role in simulating molecular interactions, significantly advancing drug discovery and materials engineering. Different from classical computers, quantum computers can model complex molecules and predict their behavior, enabling faster and more accurate drug design. For instance, companies such as D-Wave are collaborating with Volkswagen to use quantum simulations for developing new materials for electric car batteries, enhancing performance and efficiency. Similarly, Google's Quantum AI team has demonstrated quantum simulations that could revolutionize pharmaceutical research, speeding up the discovery of life-saving drugs. This ability to simulate intricate molecular structures is opening new doors in materials science, making quantum computing a vital tool for innovation across industries.
Opportunities
- Rising Applications in Cryptography
Quantum computing’s ability to break existing encryption methods, such as RSA and ECC, poses both a challenge and an opportunity. As quantum computers can potentially decrypt data in seconds that would take classical computers millennia, industries are racing to develop quantum-resistant encryption systems. This opens a vast opportunity in the market for quantum-safe cryptographic solutions. Companies such as IBM and Google are leading initiatives to create post-quantum cryptography algorithms, while governments are funding research to ensure national security. The global rise in cybersecurity threats makes quantum cryptography an essential area of focus, driving demand for quantum-resistant solutions to safeguard sensitive data in financial, healthcare, and government sectors.
- Advancements in Quantum Algorithms
Advancements in quantum algorithms are a significant opportunity for the quantum computing market. As quantum algorithms evolve, they make quantum computers more practical for real-world applications such as optimization, cryptography, and machine learning. For instance, In March 2022, Quix Quantum, a leading quantum technology company, unveiled its new quantum photonic processor, developed at its facility in the Netherlands. The processor boasts impressive advancements, performing nearly twice as efficiently as current models. With a record number of 20 qumodes and the highest operating specifications, this processor sets a new benchmark in the quantum computing field, promising to significantly improve computational power and furthering the practical applications of quantum technology. This creates demand for quantum computing infrastructure and drives investments in quantum technologies, thus spurring market growth.
Restraints/Challenges
- Technical Complexity
Technical complexity is a significant restraint for the quantum computing market. The technology requires a deep understanding of quantum mechanics, complex algorithms, and advanced engineering, which makes it difficult to develop and implement. Quantum computers involve delicate systems that rely on qubits and are highly susceptible to errors and environmental disturbances. Building stable, functional quantum machines demands expertise in various specialized fields, including cryogenics and superconductivity, further complicating the process. These challenges result in delays in product development and integration, limiting the pace at which quantum computing can be commercially deployed. As a result, the market's growth is hindered, preventing broad adoption of quantum technologies.
- Lack of Skilled Workforce
The quantum computing market is hindered by a significant shortage of skilled professionals, which impacts its growth. The industry requires experts with a unique combination of knowledge in quantum mechanics, computer science, and engineering. The lack of such professionals makes it challenging to drive research, development, and implementation at scale. As quantum computing demands highly specialized skills, companies and research institutions struggle to fill crucial roles, leading to delays in project timelines and innovation. This talent gap prevents the market from reaching its potential, slowing down the pace of advancements and limiting the industry’s ability to fully develop and deploy quantum technologies.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Quantum Computing Market Scope
The market is segmented on the basis of system, qubits, offering, deployment model, component, application, logic gates and verticals. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
System
- Single Qubit Quantum System
- Multiple Qubit System
Qubits
- Trapped Ion Qubits
- Semiconductor Qubits
- Super Conducting
Offering
- Systems
- Services
Deployment Model
- On-Premises
- Cloud
Component
- Hardware
- Software
- Services
Application
- Cryptography
- Simulation
- Parallelism
- Machine Learning
- Algorithms
- Others
Logic Gates
- Toffoli Gate
- Hadamard Gate
- Pauli Logic Gates
- Others
Verticals
- Banking and Finance
- Healthcare and Pharmaceuticals
- Defense
- Automotive
- Chemical
- Utilities
- Others
Quantum Computing Market Regional Analysis
The market is analyzed and market size insights and trends are provided by system, qubits, offering, deployment model, component, application, logic gates and verticals as referenced above.
The countries covered in the market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America is expected to dominate the quantum computing market due to significant investments in cutting-edge technology across various sectors. The region’s strong focus on research and development, particularly in defense, healthcare, pharmaceuticals, chemicals, and utilities, drives its market leadership. With major players and tech giants pushing the boundaries of quantum computing, North America is positioned to remain at the forefront of advancements. The increasing demand for enhanced computational power and breakthroughs in AI, cybersecurity, and data processing will further bolster the growth of quantum computing in the region during the forecast period.
Asia-Pacific is expected to witness significant growth in the quantum computing market during the forecast period due to rising urbanization and industrialization across the region. With governments and private organizations investing heavily in cutting-edge technologies, there is a growing demand for advanced computing solutions. Countries such as China, Japan, and South Korea are leading this innovation, driving the development of quantum hardware and software. Furthermore, the increasing focus on enhancing research and development capabilities, coupled with robust technological infrastructure, will accelerate the adoption of quantum computing in sectors such as healthcare, finance, and manufacturing.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Quantum Computing Market Share
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Quantum Computing Market Leaders Operating in the Market Are:
- Honeywell International, Inc. (U.S.)
- Accenture (Ireland)
- Fujitsu (Japan)
- Rigetti & Co, Inc. (U.S.)
- 1QB Information Technologies, Inc. (Canada)
- IonQ (U.S.)
- Atom Computing, Inc. (U.S.)
- ID Quantique (Switzerland)
- QuintessenceLabs (Australia)
- Toshiba Research Europe Ltd. (U.K.)
- Microsoft (U.S.)
- Magiq Technologies, Inc. (U.S.)
- NEC Corporation (Japan)
- Anyon System Inc. (Canada)
- CAMBRIDGE QUANTUM COMPUTING LTD (U.K.)
- QCWare (U.S.)
- Intel Corporation (U.S.)
Latest Developments in Quantum Computing Market
- In November 2023, Terra Quantum, a leading quantum service provider, announced a strategic partnership with NVIDIA to develop quantum-accelerated applications. This collaboration aims to bridge the divide between classical and quantum computing by leveraging hybrid algorithms, combining the strengths of both technologies. The partnership is expected to accelerate the development of quantum computing solutions for practical applications, benefiting various industries by providing faster, more efficient computational models
- In October 2023, Fujitsu, in partnership with RIKEN, introduced a groundbreaking AI drug discovery technology that integrates the power of Fujitsu’s newly developed 64-qubit superconducting quantum computer. This technology offers an innovative platform for businesses and research institutions, enabling them to significantly improve the efficiency and effectiveness of drug discovery. The collaboration demonstrates the potential of quantum computing to revolutionize the pharmaceutical industry and accelerate the development of new treatments
- In September 2023, Xanadu, a leading quantum technology company, formed a partnership with the Electronics and Telecommunications Research Institute (ETRI) to push the boundaries of computing technologies. The collaboration focuses on utilizing machine learning and artificial intelligence (AI) to enhance quantum computing research and development. By combining expertise from both organizations, the partnership aims to make significant strides in quantum computing applications and further integrate AI in emerging technologies
- In April 2023, IBM Corporation entered into a collaborative agreement with Moderna, Inc., a leader in mRNA vaccine technology, to enhance quantum computing and artificial intelligence (AI) capabilities. Moderna’s investment in these emerging technologies will advance mRNA research, enabling more efficient vaccine development and improving overall public health efforts. This partnership highlights the growing role of quantum computing in biotechnology, particularly in accelerating the development of medical innovations
- In November 2022, IBM joined forces with Vodafone to enhance quantum-safe cybersecurity through a collaboration in the IBM Quantum Network. The partnership aims to explore and validate potential quantum computing applications within the telecommunications industry. By leveraging quantum technologies, this collaboration seeks to develop secure communication systems resistant to future quantum threats, helping telecommunications companies stay ahead in the era of quantum computing and safeguarding critical digital infrastructure
- In March 2022, Quix Quantum, a leading quantum technology company, unveiled its new quantum photonic processor, developed at its facility in the Netherlands. The processor boasts impressive advancements, performing nearly twice as efficiently as current models. With a record number of 20 qumodes and the highest operating specifications, this processor sets a new benchmark in the quantum computing field, promising to significantly improve computational power and furthering the practical applications of quantum technology
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