Published Date : 2025-Apr-19
As 2025 unfolds, quantum computing is no longer a niche field reserved for physicists and theorists. It's becoming a transformative force reshaping industries from cryptography and pharmaceuticals to logistics and AI. Driven by massive investments, cutting-edge R&D, and the rise of commercial quantum-as-a-service platforms.
The market 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).
Global Quantum Computing Market Size, Share & Trends Analysis Report by Component (Hardware, Software, Services), by Deployment (On-Premises, Cloud-Based), by Technology(Superconducting Qubits, Trapped Ions, Quantum Dots, Topological Qubits), by Application(Optimization, Simulation, Cryptography & Cybersecurity, Artificial Intelligence & Machine Learning), by End-User Industry(Healthcare & Pharmaceuticals, Banking & Finance, Aerospace & Defence, Energy & Utilities, IT & Telecommunications) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America), Global Economy Insights, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast Till 2034.
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.
Headquarters: Armonk, New York, USA
Founded: 1911
Employees: ~288,000
2024 Revenue: ~$61.9 billion (entire IBM)
Specialty: Superconducting qubits, Qiskit SDK, cloud-based quantum computing
Headquarters: Mountain View, California, USA
Founded: 2013 (Quantum Division)
Employees: ~150 (Quantum), ~182,000 (Alphabet)
2024 Revenue: $346.2 billion (Alphabet total)
Specialty: Sycamore processor, quantum supremacy claim
Headquarters: Redmond, Washington, USA
Founded: 1975
Employees: ~221,000
2024 Revenue: ~$259.7 billion
Specialty: Topological qubits, hybrid cloud quantum platform
Headquarters: Burnaby, British Columbia, Canada
Founded: 1999
Employees: ~200
2024 Revenue: ~$9.7 million
Specialty: Quantum annealing, quantum-hybrid solutions
Headquarters: Berkeley, California, USA
Founded: 2013
Employees: ~130
2024 Revenue: ~$13.1 million
Specialty: Full-stack superconducting quantum computing
Headquarters: College Park, Maryland, USA
Founded: 2015
Employees: ~250
2024 Revenue: ~$22 million
Specialty: Trapped-ion quantum systems, AWS & Azure integrations
Headquarters: Broomfield, Colorado, USA and Cambridge, UK
Founded: 2021 (Merger of Honeywell Quantum Solutions & Cambridge Quantum)
Employees: ~450
2024 Revenue: ~$30 million (estimated)
Specialty: Integrated hardware & software stack, quantum NLP and encryption
Headquarters: Hangzhou, China
Founded: 2015 (Quantum Lab)
Employees: ~100 (Quantum), ~243,000 (Alibaba Group)
2024 Revenue: $126.5 billion (Alibaba Group)
Specialty: Cloud quantum computing via Aliyun
Headquarters: Paris, France
Founded: 2019
Employees: ~130
2024 Revenue: ~$10–15 million (estimated)
Specialty: Neutral-atom quantum processors, simulation and ML use-cases
Headquarters: Toronto, Canada
Founded: 2016
Employees: ~100
2024 Revenue: ~$6–9 million (estimated)
Specialty: Photonic quantum computers, Strawberry Fields library
Region | Key Drivers | Market Share (Est. %) |
North America | Dominated by IBM, Google, Rigetti, IonQ | 45% |
Europe | Growth in startups (Pasqal), policy support (EU HPC) | 25% |
Asia-Pacific | Driven by China’s investment & AQL/Alibaba | 20% |
Rest of World | Emerging interest in Middle East & Latin America | 10% |
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.
Would you like me to add more details on specific companies or market trends? Let me know! CLICK HERE
Intellectual Market Insights Research is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including, Semiconductor, aerospace, Automation, Agriculture, Food & Beverages, Automotive, Chemicals and Materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports.
