Global Quantum Computing Market Overview
Global Quantum Computing Market size was valued at USD 1.42 Billion in 2024 and is poised to grow from USD 1.7 Billion in 2025 to USD 10.8 Billion by 2034, growing at a CAGR of 22.5% in the forecast period (2025-2034).
The Global Quantum Computing Market is now in a state of great momentum, led by the government to achieve national security priorities, economic competitiveness, and scientific breakthroughs. Governments around the world see quantum computing as one of the few transformational technologies that have a potential to disrupt industries ranging from medicine to defence. The 2023 report of the U.S. Government Accountability Office informs directly on the promise that quantum technology offers in the arena of solving computationally complex problems, which are presently intractable to work with even with the fastest supercomputers. This promise has sparked extensive public investment into the phenomenon.
In the U.S., quantum information science (QIS) has authorized approximately $1.2 billion in funding since the passage into law of the National Quantum Initiative Act in 2018, with grants made for the establishment of research centres under DOE and NSF. Similarly, under its Horizon research frameworks, the EU's Quantum Flagship program aims to put Europe on the map for the "second quantum revolution" and saw the allocation of €1 billion towards this objective. In the Asian continent, China declared quantum technology a pillar in its national strategic agenda, pouring billions into the National Laboratory for Quantum Information Sciences.
In 2024, the market finds itself in a pre-commercialization phase, where access to quantum hardware is mostly via cloud platforms, many supported by public-private partnerships. The U.S. National Institute of Standards and Technology is leading the international effort for the development and standardization of post-quantum cryptographic algorithms which will defend against future quantum threats, being a clear signal from government bodies concerning the expected impact of the technology. Quantum computing is set to grow exponentially as an industry as national strategies solidify and public funding flows into foundational research and infrastructure, thus evolving from a research-based industry into a national infrastructure and industrial capability in the next decade.
Market Dynamics - Market Drivers
National Security Imperatives and Economic Competitiveness
- The government regards quantum computing as a dual-use technology of utmost importance for national security and long-term economic hegemony. Agencies with defence interests such as the U.S. Défense Advanced Research Projects Agency (DARPA) and the UK's Ministry of Defence are pouring investments into quantum computing for uses as diverse as breaking advanced encryptions, building new materials for military hardware, or optimizing complex logistic operations. The threat posed by "harvest now, decrypt later," where a state capture encrypted data today to be decrypted later by some future quantum computer, is persuading governments to invest in quantum computing alongside development of quantum-resistant cryptography, an imperative driven by agencies like the NSA and the UK's NCSC. This national security view engenders steady and uninterrupted government funding in the quantum sector, constituting the principal market driver.
Escalating Government R&D Funding and Strategic Initiatives
- The funding of quantum research in many countries has seen a dramatic increase spurred by the global race toward quantum supremacy. With the passage of the National Quantum Initiative Act, the U.S. government has set the pace, with other nations following suit. In Germany, more than € 2 billion have been devoted to putting up and running quantum computers, while the French national quantum program sets aside about € 1.8 billion. To show that it can assume the leadership role in quantum research, the Canadian federal government launched a National Quantum Strategy with a commitment of C$360 million. Such government initiatives, run by agencies like the DOE Office of Science in the U.S. and the European Research Council in the EU, directly fund academic research and national laboratories (e.g., Oak Ridge, Los Alamos) and consortia that make up the backbone of the quantum ecosystem, helping to de-risk early-stage development and thereby ensuring a healthy pipeline for technology maturation.
Market Opportunities
Public-Private Partnerships for Infrastructure and Application Development
- Public-private partnerships (PPPs) provide a wonderful opportunity for constructing a national quantum infrastructure. Here the governments aren't building quantum computers themselves; they are funding national labs and government universities to partner with private industry leaders. The DOE's Quantum Information Science Research Centres, for example, connect national laboratories to companies such as IBM, Microsoft, and Google to co-develop quantum technologies. This way permits private sector innovation to thrive, while taking advantage of the long-term research capabilities and infrastructure of public institutions. In addition to this, government agencies also act as "first customers" by creating use cases for climate modelling (NOAA), drug discovery (NIH), and financial system stability (U.S. Department of the Treasury), thereby validating the technology and providing a clear trajectory toward commercialization.
Democratization of Access via Government-Backed Cloud Platforms
- The cost and complexity of quantum hardware provide one of the major entry barriers. This challenge has been recognized by the governments, which are currently funding cloud-based access to national quantum computing resources. The expected future European quantum computing infrastructure of the EU (EuroHPC JU) should provide European researchers and businesses with access to modern quantum machines. The Quantum Leap Challenge Institutes initiated by the NSF in the U.S. will include measures to provide cloud access to some of their platforms. This government-supported "democratization" of quantum computing allows a broad ecosystem of startups, researchers, and industries to experiment, develop algorithms, and build a quantum-ready workforce without paying the full costs for hardware development, and to that end it significantly enhances innovation and application discovery.
Market Restraining Factors
Technical Immaturity and Lack of Industry-Wide Standards
- Quantum computers are nascent in their development because they have progressed only into the preliminary phase of the NISQ-age. Noisy Intermediate-Scale Quantum High decoherence rates and limited-qubit lifetimes/decay times are significant technical hurdles for limiting classes of solvable problems. This is one of the most critical aspects regarding the immaturity of advanced technology. Organizations like the NSF and DARPA are not blind to this fact, as they continually engage in allocating resources to fundamental research in error correction and fault tolerance. Further underscoring this is the lack of standardized hardware architectures and software languages, as well as performance benchmarks, thereby complicating evaluation and adoption of solutions by end-users. Government agencies, like NIST, are working toward creating these benchmarks; their absence, however, presently deters commercial adoption and effective procurement processes for public agencies.
High Development Costs and Strict Export Controls
- The capital investment necessary to set up and run a quantum computer is towering, reaching hundreds of millions of dollars. Such an expense becomes a barrier for all but the mightiest corporations and the government-funded labs. Public funding eases the burden to some degree, yet it cannot back every venture that shows some promise, thereby restricting competitive outgrowth in the markets. In fact, governmental export controls for national security purposes have added another layer to the complexity. Technologies associated with quantum computing, cryptography, and advanced materials are usually on the commerce control lists, such as those specimens found in the possession of the Bureau of Industry and Security (BIS) in the U.S. While needed for security, these regulations inhibit international cooperation, hinder global supply chains for specialized components, and inhibit entry of certain companies into the marketplace—a major constraint to global market growth.
Market Challenges
Critical Shortage of a Quantum-Ready Workforce
- Severe and generally recognized shortage of skilled personnel is yet another major impediment to the growth of the quantum computing market. The trounce of technological advancements and government investments over the supply of scientists, engineers, and technicians endowed with the specialized, interdisciplinary knowledge required for quantum information science (QIS) is one of the talent gaps identified, especially in strategic documents produced by major governments, which recognize it as a critical national-level risk.
- The challenge is not limited to the U.S. The National Quantum Strategy of the UK includes "Skills and Talent" among its five core pillars, noting that the absence of an adequate number of trained individuals may jeopardize its goal of becoming a leading quantum nation. The Quantum Flagship program from the European Commission notes the need for coordinating educational efforts across member states to build up a strong European quantum workforce. There are not enough talents at all levels of the ecosystem from fundamental research in national labs to application development in the private sector to sustain innovation, increase labour costs, and restrain end-user industries from promoting and integrating quantum solutions. This fundamental bottleneck in human capital presents a primary impediment toward unlocking value from government investments in the area.
Segmentation Analysis
By Component
The global quantum computing market, by component, is segmented into Hardware, Software, and Services.
During the forecast period, the Services segment is expected to continue to dominate the quantum computing market, driven largely by the rising adoption of the QCaaS (Quantum-Computing-as-a-Service) model. Quantum hardware needs significant investments and highly specialized environments, which makes cloud-based access more feasible and scalable. It is allowing corporate and investigative interests to harness quantum capabilities without the burden of owning physical infrastructure. This trend is further encouraged on the government backing through cloud access from U.S. Department of Energy Oak Ridge facilities and the federated quantum network strategy established by the EU, granting broader access and propelling the commercialization of quantum computing as a service.
By Technology
By technology, the market is segmented into Superconducting Qubits, Trapped Ions, Photonic Quantum Computers, Quantum Annealing, and Others.
Superconducting qubits presently dominate the quantum computing space owing to hefty initial investments by prominent technology companies and research institutions supported by government grants, the lion's share of which came from the Department of Energy in the United States. These qubits are very saleable, have achieved the greatest qubit numbers so far, and have the advantage of fabrication techniques quite mature by standards in semiconductor industries. Governments and institutions have endowed high stability and good performance parameters upon them, thereby making them the choice of platform for cloud-accessible quantum computing for all, including IBM, Google, etc. This synergism of technological maturity with support from institutions has staid firmly behind superconducting qubits, making it the presently leading architecture in market landscape.
Regional Snapshots
Strengthening the position is a strong federal program coordinating quantum computing strategy in the United States. The National Quantum Initiative (NQI) Act lays down the major thrust for policy-building, channelling significant funds through various prominent government agencies, including the Department of Energy (DOE), National Science Foundation (NSF), and Department of defence (DOD). These funds have helped create a strong innovation ecosystem anchored around a network of DOE National Quantum Information Science Quantum Information Science (QIS) Research Centres and NSF-backed institutes connecting national laboratories, academia, and industry. At the same time, the contribution of Canada's National Quantum Strategy is supported by federal entities, such as Natural Sciences and Engineering Research Council (NSERC), thus strengthening the region by promoting its historical leadership in quantum research and talent development.
The European Union remains a powerful player and an active competitor in the quantum race, with a collective drive to achieve sovereign technological capability. At the core of the European effort is the €1 billion Quantum Flagship program, which is a large-scale, long-term research initiative funded under the EU's Horizon research and innovation frameworks. The whole European ambition is further nourished by aggressive national strategies in key member states, with Germany investing more than €2 billion in its quantum program while France launched and €1.8 billion national plan. Furthermore, the European High-Performance Computing Joint Undertaking (EuroHPC JU) is tasked with the procurement and deployment of quantum computers in Europe to ensure federated, pan-European access for the scientific and industrial communities. At the same time, the National Quantum Technologies Programme in the UK (NQTP) represents a multi-billion-pound, decade-long government commitment to translating quantum science into an industry that thrives nationally.
The Asia-Pacific region boasts enormous state-funded investments aimed at achieving global leadership in quantum technologies. Within its Five-Year Plans, China has made quantum information science a top-ranking national priority and has allocated billions of dollars to state-sponsored efforts like the National Laboratory for Quantum Information Sciences, which would speed the country toward advances in both quantum computing and quantum communications. Meanwhile, the government of Japan plans to set up domestic infrastructure through its Cabinet Office and the Ministry of Education, Culture, Sports, Science and Technology (MEXT) in a Quantum Technology and Innovation Strategy. India, on the other hand, has joined hands with its own initiative dubbed the National Mission on Quantum Technologies & Applications (NM-QTA) that involves a framework multi-year program sanctioned by the Union Cabinet for the cultivation and nurturing of indigenous capabilities in quantum technology.
Other countries have already set their paths for strategic action in the developing quantum domain. Israel is through the Israel National Quantum Initiative (IN-Q) maximizing the effects of its strong high-tech sector-the funds from the government are being invested on research infrastructure and human capital development as well. Meanwhile, Australia's government is supporting quantum R&D through agencies like the Commonwealth Scientific and Industrial Research Organisation (CSIRO) and via a variety of federally funded grants aimed at commercializing its deep university-led research base. All these initiatives signal a widening global commitment to quantum technology besides major blocs.
List of Top Leading Companies
- International Business Machines (IBM) Corporation
- Google (Alphabet Inc.)
- Microsoft Corporation
- D-Wave Systems Inc.
- Rigetti Computing
- IonQ
- Honeywell Quantum Solutions (Quantinuum)
- PsiQuantum
- Xanadu
- Intel Corporation
- Atos SE
- Amazon Web Services (AWS)
- ColdQuanta (Infleqtion)
- Zapata Computing
- Toshiba Corporation
Key Industry Developments
- In January 2025: The Department of Energy of the United States (DOE) announced $71 million in funding for 25 high-energy physics projects that will employ emerging technologies in quantum information science to address fundamental questions about the universe.
- In August 2024, The National Institute of Standards and Technology (NIST) is the U.S. Department of Commerce's final word on its primary suite of encryption algorithms for the purpose of withstanding attacks from a quantum computer.
- In September 2024, There is no denying that China is first, leading the league in quantum communication technologies, but that is it; its overall quantum capability is still limited, and the U.S. has continued to maintain an upper hand without any advances in quantum computing thus far.
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
Study Period | 2021-2023 |
Base Year | 2024 |
Estimated Forecast Year | 2025-34 |
Growth Rate | CAGR of 22.5% from 2025 to 2034 |
Unit | USD Billion |
By Component | |
By Technology | - Superconducting Qubits
- Trapped Ions
- Photonic Quantum Computers
- Quantum Annealing
- Others
|
By Deployment Model | |
By Application | - Aerospace & Defense
- Healthcare & Life Sciences
- Banking, Financial Services & Insurance (BFSI)
- Manufacturing
- Energy & Utilities
- IT & Telecommunications
|
By Region | - North America (U.S., Canada)
- Europe (Germany, France, UK, Italy, Spain, Russia, Rest of Europe)
- Asia-Pacific (China, India, Japan, Rest of Asia-Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- MEA (Saudi Arabia, South Africa, UAE, Rest Of MEA)
|
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
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: 2019-2023
- Base year: 2024
- Forecast: 2025 to 2034
- Representation of Market revenue in USD Billion
Quantum Computing Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends:
