The global quantum computing market size is expected to reach $4,24-billion by 2030, registering a CAGR of 20,5% from 2025 to 2030, according to a new report by Grand View Research.
Quantum computing is an emerging field with the potential to revolutionise various industries and computing paradigms. While the market for quantum computing is dynamic and subject to rapid changes, several global growth trends have been shaping up its dynamics.
Investments from governments, tech giants, and venture capitalists in quantum research and development are crucial for the advancement of quantum technology. These investments support research efforts, enable the development of cutting-edge hardware and software, and drive innovation across various industries.
Quantum technology is highly complex and requires significant resources for research and development. These investments help accelerate progress by providing funding for experimental work, the recruitment of top talent, and access to advanced research facilities.
Quantum hardware, including quantum processors and qubit architectures, has been continuously improving. Researchers are working to increase the number of qubits and improve qubit quality, making quantum computers more powerful and reliable.
Moreover, the hybrid approach, combining quantum and classical computing, has gained traction. This approach allows for practical problem-solving by harnessing the strengths of both quantum and classical computers.
Quantum cloud services have become more prevalent, making quantum computing resources accessible to a wider audience. These services offer scalability, convenience, and affordability for researchers and businesses.
Quantum cloud services allow users to pay for quantum computing resources on a usage-based model, similar to traditional cloud computing services. This pay-as-you-go approach can be more cost-effective than purchasing and maintaining quantum hardware, especially for organisations that have sporadic or variable quantum computing requirements.
North American tech giants, including IBM, Google, Microsoft, and startups such as Rigetti and IonQ, were actively involved in quantum computing research and development. These companies were competing to develop more powerful quantum hardware and software solutions.
Quantum software development was a growing trend in the region. Developers and software companies in the region were actively engaged in creating quantum algorithms, programming tools, and applications for various industries.
Highlights from the quantum computing market report include:
- The system segment dominated the market with a share of over 63,91% in 2024. The service segment is expected to grow at the fastest rate from 2025 to 2030.
- 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.
- The optimisation segment dominated the market with the highest revenue share in 2024. The optimisation segment is one of the key application areas where quantum computing holds significant promise and is expected to have a substantial impact.
- 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.
- The quantum computing market in Europe dominated with a share of over 33,84% in 2024. The advancement of quantum computing technologies necessitates a profound grasp of fundamental physics and applied engineering.