Global Quantum Computing Market Growth, Share, Size, Trends and Forecast (2025 - 2031)
By Technology;
Superconducting Loops, Trapped Ion, and Topological Qubits.By Component;
Hardware and Software.By Deployment;
On-premise and Cloud.By End User;
Aerospace and Defense, Government, IT and Telecom, and Transportation.By Geography;
North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).Introduction
Global Quantum Computing Market (USD Million), 2021 - 2031
In the year 2024, the Global Quantum Computing Market was valued at USD 1,102.13 million. The size of this market is expected to increase to USD 7,066.03 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 30.4%.
Quantum computing, a revolutionary paradigm in information processing, has emerged as one of the most promising technologies of the 21st century. Unlike classical computers that rely on bits to represent data as either 0 or 1, quantum computers leverage quantum bits or qubits, which can exist in multiple states simultaneously due to the principles of superposition and entanglement. This allows quantum computers to perform complex calculations at unprecedented speeds, promising breakthroughs in various fields such as cryptography, drug discovery, optimization, and machine learning.
The global quantum computing market is witnessing rapid growth driven by increasing investments in research and development, collaborations between industry players and academic institutions, and the growing demand for advanced computing solutions. Governments, multinational corporations, and startups alike are actively pursuing quantum computing initiatives, recognizing its transformative potential across industries. As the race for quantum supremacy intensifies, stakeholders are focusing on overcoming key challenges such as qubit stability, error correction, and scalability to unlock the full capabilities of quantum computing and usher in a new era of innovation and discovery.
Global Quantum Computing Market Recent Developments
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In November 2022, Microsoft (US) introduced the Azure Quantum Resource Estimator, a tool designed to aid quantum algorithm developers in crafting and refining algorithms destined to operate on forthcoming quantum computers.
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In September 2022, Intel (US) rolled out the Intel Quantum SDK, empowering developers to create novel quantum algorithms for executing qubits via simulation and on future real quantum hardware.
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In May 2022, Quantinuum (US) launched InQuanto, a quantum computational chemistry software platform facilitating computational chemists' exploration of numerous quantum algorithms on current quantum computers.
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In July 2022, Mastercard (US) collaborated with D-Wave Quantum Inc. to develop quantum-hybrid solutions.
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In May 2021, Toshiba (Japan) partnered with Dharma Capital (US) to conduct trials utilizing quasi-quantum technologies in financial trading.
Segment Analysis
The Global Quantum Computing Market is segmented by Technology into Superconducting Loops, Trapped Ion, and Topological Qubits, each representing different approaches to building and operating quantum computers. Superconducting loops are currently the most widely used technology, as they are capable of maintaining quantum coherence at relatively higher temperatures compared to other technologies. This makes them an attractive option for commercial quantum computing applications. Trapped ion technology, on the other hand, uses charged atoms suspended in electromagnetic fields, offering extremely high levels of precision and low error rates. However, it faces scalability challenges due to the complexity of maintaining stable ion traps. Topological qubits, still in the experimental phase, offer the potential for more stable qubits that are less prone to error, which could lead to more reliable and scalable quantum computers in the future. The development and refinement of these technologies will determine the market’s trajectory, with superconducting and trapped ion systems leading in the short term.
In terms of Component, the market is divided into Hardware and Software, both essential to the functioning and growth of quantum computing. Quantum hardware involves the physical systems, such as qubits and cryogenic cooling equipment, required to create and maintain quantum states. The ongoing advancements in quantum hardware are critical for improving the performance, error correction, and scalability of quantum systems. On the other hand, quantum software encompasses the algorithms, programming languages, and simulation tools needed to program and operate quantum computers effectively. As quantum hardware evolves, specialized software will be essential for solving complex problems, making quantum computing accessible to industries such as healthcare, finance, and logistics.
The Deployment of quantum computing is also a significant factor in its adoption, with the market segmented into On-premise and Cloud options. On-premise deployment involves organizations maintaining their own quantum computing infrastructure, offering full control over hardware and data security but requiring significant investment and expertise. Cloud-based deployment allows users to access quantum computing power remotely, providing flexibility and reducing the need for upfront capital expenditure. This model enables small and medium enterprises, research institutions, and startups to access quantum computing resources on-demand without the need for heavy infrastructure investments. End-users of quantum computing span various sectors, with Aerospace and Defense, Government, IT and Telecom, and Transportation being major contributors. These industries leverage quantum computing to address complex optimization problems, enhance cryptographic systems, and improve logistical operations. As quantum computing continues to evolve, it is expected that these sectors will play a key role in shaping its future applications and integration into real-world use cases.
Global Quantum Computing Segment Analysis
In this report, the Global Quantum Computing Market has been segmented by Technology, Component, Deployment, End User and Geography.
Global Quantum Computing Market, Segmentation by Technology
The Global Quantum Computing Market has been segmented by Technology into Superconducting Loops, Trapped Ion and Topological Qubits.
The segmentation of the global quantum computing market by technology underscores the diverse methodologies employed to harness quantum phenomena for computational purposes. Superconducting loops represent one of the most prevalent approaches, leveraging superconducting circuits cooled to extremely low temperatures to facilitate quantum information processing. These circuits, exhibiting quantum behavior, form the basis of qubits, the fundamental units of quantum computation. Superconducting loop systems offer scalability and flexibility, contributing to their widespread adoption and ongoing development.
Trapped ion technology constitutes another prominent segment, relying on the precise manipulation of individual ions confined within electromagnetic fields to serve as qubits. Trapped ions possess long coherence times and can be manipulated with high fidelity, making them suitable for applications demanding robustness against quantum noise and errors. While the implementation of trapped ion systems remains challenging due to technical complexities, ongoing research and development efforts aim to overcome these hurdles, driving advancements in quantum computing capabilities.
Topological qubits represent a cutting-edge approach that harnesses exotic states of matter to encode and manipulate quantum information. These states, found in topological superconductors, exhibit remarkable resilience against decoherence and error, promising significant advancements in quantum computing reliability and fault tolerance. Despite being at an early stage of development, topological qubits hold immense potential for revolutionizing quantum computing by addressing critical challenges such as error correction and scalability. Research endeavors in this domain aim to unlock the transformative capabilities of topological qubits, positioning them as a key technology in the future quantum computing landscape.
Global Quantum Computing Market, Segmentation by Component
The Global Quantum Computing Market has been segmented by Component into Hardware and Software.
The Global Quantum Computing Market is segmented by Component into Hardware and Software, both of which are critical to the development and deployment of quantum computing technologies. Quantum hardware includes the physical components necessary to create and maintain quantum systems, such as quantum processors, quantum bits (qubits), and cryogenic cooling systems. These hardware elements are fundamental to the functioning of quantum computers, as they enable the manipulation and storage of quantum information. As quantum computing evolves, advancements in hardware are crucial for enhancing the scalability, stability, and efficiency of quantum systems, which will enable practical applications across various industries.
On the other hand, quantum software plays a pivotal role in enabling the operation and management of quantum hardware. This includes quantum programming languages, quantum algorithms, and software platforms designed to optimize the performance of quantum computers. As quantum hardware becomes more sophisticated, the development of software solutions that can effectively utilize these systems becomes increasingly important. Quantum software helps in algorithmic design, simulation, and quantum error correction, making it possible to solve complex problems in fields like cryptography, material science, and artificial intelligence. With quantum software, researchers and businesses can harness the power of quantum systems to tackle challenges that are currently beyond the capabilities of classical computing.
Together, hardware and software in the quantum computing market are interdependent, with innovations in one driving the advancements in the other. While hardware provides the necessary infrastructure for quantum computing, software enables the execution of quantum algorithms that unlock its potential. The growth of the quantum computing market relies on the continued progress in both areas, as the development of more powerful quantum processors and sophisticated software solutions will be key to the widespread adoption of quantum computing across industries such as healthcare, finance, and logistics. As these components evolve and mature, they will collectively drive the next generation of computing technology, revolutionizing industries and creating new opportunities for research and business applications.
Global Quantum Computing Market, Segmentation by Deployment
The Global Quantum Computing Market has been segmented by Deployment into On-premise and Cloud.
The Global Quantum Computing Market is segmented by Deployment into On-premise and Cloud solutions, each offering distinct advantages depending on organizational needs and resources. On-premise deployment involves organizations installing and maintaining quantum computing systems within their own facilities. This approach provides organizations with full control over their quantum infrastructure, data security, and operations. Large enterprises and research institutions, which require high levels of customization and have the resources to manage sophisticated quantum hardware and software, often prefer on-premise solutions. However, the high cost of maintaining quantum systems and the need for specialized expertise can be significant barriers to adoption for smaller organizations.
In contrast, Cloud-based quantum computing allows users to access quantum computing resources remotely through the cloud, making it a more flexible and cost-effective solution for many businesses. This model enables organizations to leverage quantum computing power without the need for investing in expensive hardware or maintaining complex infrastructure. Cloud providers, such as IBM, Microsoft, and Amazon, offer quantum computing services that provide users with on-demand access to quantum processors and software, making quantum capabilities accessible to a wider range of industries and researchers. Cloud deployment also facilitates easier collaboration and scalability, as users can tap into powerful quantum computing systems without the constraints of physical hardware.
Both On-premise and Cloud deployments have their own set of use cases and are likely to coexist as quantum computing technology matures. On-premise solutions will remain vital for organizations with specific, high-performance computing requirements, such as defense, aerospace, and large-scale research institutions. Meanwhile, cloud-based solutions are expected to dominate the broader market, as they provide easy access to cutting-edge quantum technologies and lower the entry barriers for smaller businesses, startups, and academic institutions. As the market continues to evolve, advancements in both deployment models will help drive the adoption and integration of quantum computing across a variety of industries.
Global Quantum Computing Market, Segmentation by End User
The Global Quantum Computing Market has been segmented by End User into Aerospace and Defense, Government, IT and Telecom and Transportation.
The aerospace and defense sector represents a significant end-user segment, where quantum computing holds immense potential for enhancing mission-critical operations, such as cryptography, optimization, and simulation. Quantum computing's ability to tackle complex computational problems with unparalleled efficiency and speed positions it as a transformative technology for defense applications, including threat analysis, logistics optimization, and secure communications.
Government entities constitute another key end-user segment driving the adoption of quantum computing technologies. Governments worldwide recognize the strategic importance of quantum computing in bolstering national security, scientific research, and technological leadership. Quantum computing initiatives undertaken by governments encompass a wide range of applications, spanning cybersecurity, climate modeling, drug discovery, and infrastructure optimization. As governments invest in quantum research and development, collaboration with academia and industry stakeholders plays a pivotal role in accelerating innovation and realizing the full potential of quantum computing.
The information technology (IT) and telecommunications sector represent prominent end-user segments at the forefront of quantum computing adoption. Quantum computing offers transformative capabilities for addressing the growing computational demands of data-intensive tasks, such as data analytics, machine learning, and cryptography. Enterprises in the IT and telecom industry leverage quantum computing to gain a competitive edge through accelerated data processing, enhanced security protocols, and the development of quantum-enabled applications. As quantum computing technologies mature, IT and telecom companies are poised to capitalize on new opportunities for innovation and digital transformation in a rapidly evolving landscape.
Global Quantum Computing Market, Segmentation by Geography
In this report, the Global Quantum Computing Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Global Quantum Computing Market Share (%), by Geographical Region, 2023
North America emerges as a leading region in quantum computing, accounting for a significant portion of the market share. The region's dominance is attributed to robust government funding, thriving startup ecosystem, and strong industry collaborations driving advancements in quantum technology. Key players and research institutions in the United States and Canada are at the forefront of quantum computing research and development, contributing to the region's leadership position.
Europe represents another significant contributor to the global quantum computing market share, characterized by substantial investments from both public and private sectors. Countries like the United Kingdom, Germany, and the Netherlands have established themselves as hubs for quantum research and innovation, fostering vibrant ecosystems of startups, academic institutions, and industry players. Government initiatives and strategic partnerships in Europe aim to accelerate quantum technology development and strengthen the region's competitiveness in emerging quantum applications across various sectors.
Asia Pacific emerges as a region with growing momentum in the quantum computing market, fueled by increasing investments and initiatives from governments, research organizations, and technology companies. Countries such as China, Japan, and Australia are making significant strides in quantum computing research, development, and commercialization. With ambitious national quantum initiatives and a focus on building indigenous capabilities, Asia Pacific is poised to play a pivotal role in shaping the future of quantum computing globally. As quantum technology continues to mature, collaborations and partnerships among stakeholders across different regions are expected to drive further innovation and market growth.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Quantum Computing Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunity Analysis
Drivers:
- Increasing R&D Investments
- Growing Demand for Security Solutions
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Potential for Exponential Speedup - The potential for exponential speedup is one of the key driving factors propelling the development and adoption of quantum computing technology. Unlike classical computers, which process information using bits that represent either a 0 or a 1, quantum computers leverage quantum bits or qubits. Qubits can exist in multiple states simultaneously due to the principles of quantum mechanics, allowing for parallel processing of information. This inherent parallelism enables quantum computers to perform certain calculations much faster than classical computers, leading to the promise of exponential speedup in solving complex problems.
One area where exponential speedup holds significant promise is in optimization problems, such as those encountered in logistics, finance, and drug discovery. Quantum algorithms designed specifically for optimization tasks can explore a vast number of possible solutions simultaneously, leading to more efficient and optimal outcomes. Additionally, quantum computers have the potential to revolutionize cryptography by quickly factoring large numbers, which is currently a computationally intensive task for classical computers. This capability could significantly enhance cybersecurity measures and lead to the development of quantum-resistant encryption methods.
Achieving exponential speedup in practical applications requires overcoming several technical challenges, including qubit coherence times, error rates, and scalability issues. Researchers and industry players are actively working to address these challenges through advancements in qubit technology, error correction techniques, and quantum algorithms. As these hurdles are overcome and quantum computing technology matures, the potential for exponential speedup is expected to unlock transformative capabilities across various fields, ushering in a new era of computation and problem-solving.
Restraints:
- Technical Challenges
- Limited Qubit Scalability
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High Cost of Development - The high cost of development stands as a significant restraint in the advancement and adoption of quantum computing technology. Building quantum computers requires sophisticated infrastructure and specialized components, including ultra-cold environments to maintain qubits at extremely low temperatures, precise control systems, and error correction mechanisms. These components are expensive to develop, manufacture, and maintain, contributing to the overall high cost of quantum computing research and development.
The complexity of quantum algorithms and software poses additional challenges, requiring substantial investments in skilled personnel and computational resources for programming and simulation. Quantum software development often involves pioneering new programming languages, libraries, and tools tailored to the unique characteristics of quantum systems, which adds further to the development costs. Additionally, the limited availability of quantum programming talent and expertise adds to the expenses associated with building and deploying quantum computing solutions.
The high cost of development presents barriers to entry for smaller research institutions, startups, and companies looking to explore quantum computing applications. The significant upfront investment required to embark on quantum research projects or develop quantum-enabled products can deter organizations with limited financial resources from participating in the quantum computing ecosystem. As a result, the high cost of development may limit the diversity and inclusivity of contributors to the field, slowing down overall progress and innovation in quantum computing technology.
Opportunities:
- Industry Collaboration
- Advancements in Quantum Error Correction
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Emerging Quantum Applications - Emerging quantum applications represent a significant opportunity for the quantum computing market, with potential transformative impacts across various industries. Quantum computing's ability to solve complex optimization, simulation, and cryptography problems at unprecedented speeds opens doors to a wide range of applications. One such area is drug discovery and molecular modeling, where quantum computers can simulate the behavior of molecules with exceptional accuracy, accelerating the drug development process and leading to the discovery of novel therapeutic compounds.
Quantum computing holds promise in the field of finance and portfolio optimization, where it can efficiently analyze vast amounts of data to identify optimal investment strategies and risk management approaches. Quantum algorithms for portfolio optimization can potentially outperform classical methods, offering investors a competitive edge in navigating complex financial markets. Furthermore, quantum computing has applications in supply chain optimization, enabling companies to streamline logistics, inventory management, and distribution networks for enhanced efficiency and cost savings.
Quantum computing is expected to revolutionize machine learning and artificial intelligence, unlocking new capabilities for pattern recognition, data classification, and optimization tasks. Quantum machine learning algorithms have the potential to process and analyze large datasets exponentially faster than classical methods, leading to advancements in areas such as image recognition, natural language processing, and predictive analytics. As quantum hardware continues to advance and quantum algorithms mature, the adoption of quantum computing in emerging applications is poised to accelerate, driving growth and innovation in the global quantum computing market.
Competitive Landscape Analysis
Key players in Global Quantum Computing Market include:
- Rigetti Computing
- Fujitsu
- Hitachi
- Toshiba
- Intel
- Quantinuum
- Huawei
- NEC
- Accenture
- Nippon Telegraph and Telephone
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Technology
- Market Snapshot, By Component
- Market Snapshot, By Deployment
- Market Snapshot, By End User
- Market Snapshot, By Region
- Global Quantum Computing Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
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Increasing R&D Investments
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Growing Demand for Security Solutions
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Potential for Exponential Speedup
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- Restraints
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Technical Challenges
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Limited Qubit Scalability
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High Cost of Development
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- Opportunities
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Industry Collaboration
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Advancements in Quantum Error Correction
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Emerging Quantum Applications
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- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Quantum Computing Market, By Technology, 2021 - 2031 (USD Million)
- Superconducting Loops
- Trapped Ion
- Topological Qubits
- Global Quantum Computing Market, By Component, 2021 - 2031 (USD Million)
- Hardware
- Software
- Global Quantum Computing Market, By Deployment, 2021 - 2031 (USD Million)
- On-premise
- Cloud
- Global Quantum Computing Market, By End User, 2021 - 2031 (USD Million)
- Aerospace and Defense
- Government
- IT and Telecom
- Transportation
- Global Quantum Computing Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Quantum Computing Market, By Technology, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- Rigetti Computing
- Fujitsu
- Hitachi
- Toshiba
- Intel
- Quantinuum
- Huawei
- NEC
- Accenture
- Nippon Telegraph and Telephone
- Company Profiles
- Analyst Views
- Future Outlook of the Market