Quantum Computing Market Size, Share & Trends Analysis Report By Offering (System, Services), By Deployment (On-Premises, Cloud), By Application (Simulation, Machine Learning), By End-user, By Region, And Segment Forecast, 2025 - 2034

Quantum Computing Market Size and Growth

The quantum computing market size was exhibited at USD 1.85 billion in 2024 and is projected to hit around USD 12.04 billion by 2034, growing at a CAGR of 20.6% during the forecast period 2025 to 2034.

Quantum Computing Market Key Takeaways:

• The system segment dominated the market with a share of over 64.0% in 2024.
• The service segment is expected to grow at the fastest rate from 2025 to 2034.
• The on-premises segment dominated the market with the highest revenue share in 2024.
• Quantum cloud services were gaining popularity for deployment.
• The optimization segment dominated the market with the highest revenue share in 2024.
• The BFSI segment dominated the market with the highest revenue share in 2024.
• North America quantum computing market accounted for a significant market share of 32.0% in 2024.

Report Scope of Quantum Computing Market

The quantum computing ecosystem is expanding, with an increasing number of startups entering the market. These startups focused on various aspects of quantum technology, from hardware and software to applications. Furthermore, the quantum computing market was witnessing a surge in government and private sector investments. Governments were allocating substantial funds to quantum research and development to maintain a competitive edge in emerging technologies.

Quantum computing is still considered an emerging technology with significant potential. Unlike classical computers that use bits, quantum computers use quantum bits or qubits, which can represent both 0 and 1 simultaneously due to the principles of quantum mechanics. This makes quantum computers well-suited for specific types of complex calculations.

Quantum computing has the potential to revolutionize various industries due to its unique and powerful computational capabilities, which arise from the principles of quantum mechanics. One of the most significant potential applications of quantum computing is in the field of cryptography. Quantum computers can efficiently solve certain mathematical problems that are currently the basis of modern encryption techniques. Furthermore, the pharmaceutical industry can benefit significantly from quantum computing. Drug discovery involves simulating complex molecular interactions, which is a computationally intensive process. Quantum computers can accelerate the simulation of molecular structures and interactions, leading to faster drug discovery and the development of more effective medicines. This can potentially save both time and resources in the drug development process.

Quantum cloud services refer to cloud-based platforms that provide access to quantum computing resources and tools over the internet. Some companies were beginning to offer quantum cloud services, allowing researchers and developers to access quantum computing resources through the cloud. This democratized access to quantum computing power. Quantum computers are highly specialized and expensive machines that require specialized expertise to operate. By offering quantum computing capabilities through the cloud, more researchers, businesses, and developers can access these resources without the need for significant investments in hardware, infrastructure, or in-house expertise.

Quantum Computing Market By Offering Insights

The system segment dominated the market with a share of over 64.0% in 2024. The system segment of the quantum computing market involves developing and deploying quantum computing hardware and associated systems. Quantum hardware, including quantum processors, qubit architectures, and quantum interconnects, was experiencing rapid development. Companies were working on increasing the number of qubits, improving qubit quality, and enhancing error correction techniques. Advancements in hardware were crucial for achieving quantum supremacy and tackling practical problems.

The service segment is expected to grow at the fastest rate from 2025 to 2034. This segment includes a range of services related to quantum computing, such as consulting, quantum software development, quantum algorithm design, and quantum cloud services. Consulting firms specializing in quantum computing were in high demand. These firms provided guidance to businesses and organizations on how to assess the potential impact of quantum computing on their operations. They helped clients identify quantum-ready applications and develop strategies for incorporating quantum technology into their existing workflows.

Quantum Computing Market By Deployment Insights

The on-premises segment dominated the market with the highest revenue share in 2024. Some enterprises and research institutions were opting for on-premises quantum computing solutions, where they maintained and operated their own quantum hardware. This approach provided greater control and security for sensitive applications. Quantum software deployment was becoming more common as organizations sought to integrate quantum algorithms into their existing software infrastructure. This involved developing and deploying quantum software solutions for specific tasks or industries.

Quantum cloud services were gaining popularity for deployment. These services allowed users to access quantum computing resources remotely via the cloud, eliminating the need for on-premises quantum hardware. Quantum cloud providers were expanding their offerings to cater to a broader range of industries and applications. Many organizations were focusing on deploying hybrid quantum-classical computing solutions. These systems combine classical computing resources with quantum processors to leverage the strengths of both types of computing. Hybrid deployment is practical for solving complex problems that require a combination of quantum and classical algorithms.

Quantum Computing Market By Application Insights

The optimization segment dominated the market with the highest revenue share in 2024. The optimization segment is one of the key application areas where quantum computing holds significant promise and is expected to have a substantial impact. Quantum computing's ability to solve complex optimization problems more efficiently than classical computers has led to various growth trends in this segment of the quantum computing market. Quantum computing is being applied to optimize supply chain and logistics operations. It can help businesses find more efficient routes for transportation, reduce shipping costs, minimize inventory holding costs, and improve overall supply chain efficiency. This is particularly valuable in industries with complex distribution networks.

A prominent trend involves the increasing fusion of quantum computing and machine learning, with Quantum Machine Learning (QML) utilizing quantum algorithms and hardware to bolster machine learning operations. This trend is primarily motivated by the capacity of quantum computing to drastically accelerate intricate computations, providing substantial benefits for activities such as optimization, data analytics, and the training of artificial intelligence models. As quantum technology becomes more readily available and robust, the machine learning sector is expected to witness greater exploration and adoption of QML, potentially leading to significant advancements in the realms of AI and data science. Collaboration and research at the juncture of quantum computing and machine learning are well-positioned to fuel innovation and progress in both domains.

Quantum Computing Market By End-user Insights

The BFSI segment dominated the market with the highest revenue share in 2024. The rising demand for quantum computing stems from its rapid data processing capabilities, which provide substantial advantages to the BFSI sector. It equips the financial industry to conduct faster data analysis, specifically for tasks like fraud detection, understanding customer behavior, and facilitating decision-making. This prevalent tendency revolves around harnessing the swiftness of quantum computing to extract invaluable insights from extensive datasets, ultimately amplifying the efficiency of diverse financial procedures.

Quantum computing represents a groundbreaking advancement in drug discovery. It facilitates highly accurate simulations of intricate molecular interactions, significantly expediting the identification of potential drug candidates by predicting molecular behaviors with precision. Quantum algorithms offer profound insights into molecular structures, aiding researchers in the more efficient and cost-effective development of medications. This technology holds the promise of expediting the delivery of life-saving drugs to the global population, ultimately benefiting patients across the world.

Quantum Computing Market By Regional Insights

North America quantum computing market accounted for a significant market share of 31.01% in 2024. North America, spearheaded by the U.S. and Canada, dominates the quantum computing landscape. A robust ecosystem of leading companies and research institutions thrives here, fueled by substantial public and private investments. This has positioned North America at the forefront of quantum hardware, software, and cloud solutions. The well-developed North American Quantum Computing Market prioritizes applications in cryptography, optimization, and scientific research.

U.S. Quantum Computing Market Trends

The quantum computing market in the U.S. is expected to grow significantly in the coming years, driven by increasing government and private sector investment in quantum technologies. This growth is being fueled by quantum computing's potential to revolutionize various industries, such as materials science, drug discovery, and finance.

Europe Quantum Computing Market Trends

The quantum computing market in Europe dominated with a share of over 34.0% in 2024. The advancement of quantum computing technologies necessitates a profound grasp of fundamental physics and applied engineering. As a result, there is a rising pattern of cooperation between the industrial and academic sectors within the European quantum computing market. This collaboration is expediting the progression of fresh quantum computing technologies and applications. Numerous European quantum computing enterprises are partnering with universities and research institutions to create novel quantum algorithms and software solutions.

Asia Pacific Quantum Computing Market Trends

Asia Pacific quantum computing market is growing significantly. One of the key trends in quantum software development across the Asia Pacific area is the emphasis on creating open-source quantum software. This strategy enhances the accessibility and affordability of quantum software for companies of all sizes. Another notable trend involves the creation of quantum software tailored to sectors like healthcare, finance, and materials science. This approach plays a pivotal role in expediting the integration of quantum computing within these industries.

Some of the prominent players in the quantum computing market include:

• Accenture Plc.
• D-WaveSystem Inc.
• Google LLC
• IBM Corporation
• Intel Corporation
• Microsoft Corporation
• Quantinuum Ltd.
• Rigetti & Co, Inc.
• Riverlane
• Zapata Computing

Quantum Computing Market Recent Developments

• In January 2025, Accenture strategically invested in QuSecure, a leader in post-quantum cybersecurity, to offer comprehensive crypto agility solutions against emerging quantum risks. Together, they provide solutions that adhere to NIST's post-quantum encryption standards, crucial for protecting sensitive data like emails and e-commerce transactions. QuSecure's QuProtect software offers an end-to-end quantum security-as-a-service, ensuring networks and systems are shielded from both current and future cyber threats. This collaboration has already seen success with Banco Sabadell in exploring PQC adoption and multi-orbit data communication tests, marking a significant step in fortifying defenses against quantum attacks.
  
  
• In November 2024, IBM announced the launch of its most advanced quantum computers, representing a significant leap forward in quantum computing technology. These new systems are engineered to deliver enhanced performance, greater stability, and improved scalability, pushing the boundaries of what's possible in the quantum realm. With these advancements, IBM aims to empower researchers, scientists, and developers to explore complex problems and accelerate the discovery of solutions in various fields, including medicine, materials science, and artificial intelligence.
  
  
• In February 2024, D-Wave released their latest prototype, the Advantage, boasting over 1,200 qubits, through their Leap quantum cloud service. This enables current Leap subscribers to access the new hardware instantly, while newcomers can register for Leap and enjoy up to one minute of free usage of the Advantage prototype, alongside other quantum processing units (QPUs) and solvers available on the platform.

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2034. For this study, Nova one advisor, Inc. has segmented the quantum computing market

By Offering

• System
• Services

By Deployment

• On-Premises
• Cloud

By Application

• Optimization
• Simulation
• Machine Learning
• Others

By End-user

• Aerospace & Defense
• BFSI
• Healthcare
• Automotive
• Energy & Power
• Chemical
• Government
• Others

By Regional

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)