Quantum Revolution: Market Growth Accelerates Through 2035

The global quantum computing market is entering one of the most transformative phases in the history of computational technology. Valued at US$ 1.2 billion in 2024, the market is projected to rise exponentially to US$ 27.6 billion by 2035, registering an exceptional CAGR of 32.2% from 2025 to 2035. This growth is propelled by rapid advancements in quantum hardware, expanding industry adoption, strong government funding, and the broader push toward next-generation high-performance computing capabilities.

Quantum computing is emerging as a strategic technological pillar for global industries, governments, academia, and innovators. With the potential to solve problems far beyond the reach of classical computers, quantum computing represents the next frontier for disruptive innovation.

Market Overview and Key Highlights

The market is experiencing major acceleration, supported by rising public and private investment and growing commercial readiness. Key industry highlights include:

• Market Size (2024): US$ 1.2 Billion
• Forecast Value (2035): US$ 27.6 Billion
• CAGR (2025–2035): 32.2%
• Leading Region: North America (41% share)
• Top Market Players: IBM, Google, Microsoft, Amazon
• Dominant Component Segment: Hardware (45% share in 2024)

These insights reflect a fast-evolving global ecosystem where quantum technologies are shifting from scientific experimentation to commercial deployment.

Analysts’ Viewpoint: Quantum Computing Becomes a Strategic Industry Priority

The global quantum computing market is witnessing unprecedented momentum driven by rapid technological advancements, government-backed funding, and growing enterprise interest. Governments worldwide are significantly increasing investments to advance quantum research. For example, South Korea has committed major funding to accelerate quantum development across technology, commercialization, and talent-building initiatives.

Quantum computing offers capabilities far beyond classical computing by leveraging superposition, entanglement, and quantum tunneling. This allows quantum systems to evaluate vast datasets and solve highly complex problems in real time.

Industries adopting quantum computing stand to gain dramatic breakthroughs in efficiency, accuracy, and innovation. Quantum capabilities can transform:

• Financial modeling and risk assessment
• Drug discovery and precision medicine
• Supply chain optimization
• Climate modeling and materials research
• Cryptography and cybersecurity

As companies integrate quantum strategies into long-term digital transformation initiatives, early adopters are likely to gain a powerful competitive edge. Investments today in quantum readiness will give businesses a significant advantage once large-scale, fault-tolerant quantum computers become commercially available.

Quantum Computing Market Introduction

Quantum computing blends physics, computer science, and engineering to create machines capable of performing computations impossible for classical systems. Traditional computers process data in bits (0 or 1), but quantum computers use qubits, which can exist in multiple states simultaneously.

This unique phenomenon enables quantum computers to conduct parallel computations at extraordinary speeds. While the technology is still in the early stages of maturity, adoption is rising rapidly. Large tech firms—including IBM, Google, Microsoft, Amazon, and Intel—are building quantum processors, cloud-accessible quantum systems, and quantum development platforms.

In 2024, IBM launched the stable version of the Qiskit SDK 1.x, solidifying its position as a preferred platform for quantum developers globally. With more than 600,000 registered users and 700+ universities using Qiskit, quantum computing is becoming accessible to researchers and enterprises worldwide.

Key Market Drivers

1. Growing Adoption Across Industry Verticals

Quantum computing is becoming increasingly integral across industries seeking advanced computational power. Key sectors include:

• Finance: risk modeling, fraud detection, derivatives pricing
• Healthcare & Pharma: protein folding, genomics research, accelerated drug discovery
• Manufacturing & Logistics: optimization of supply chains and material simulations
• Energy & Chemicals: molecular modeling and reaction simulations

Organizations are exploring quantum computing not just as a futuristic concept, but as a practical solution to real-world problems that classical systems cannot solve efficiently.

2. Government Initiatives and Funding

Government action is a major catalyst behind the quantum computing boom. Countries worldwide are racing to secure leadership in quantum technology, recognizing its economic, scientific, and national security potential.

Key initiatives include:

• United States: National Quantum Initiative Act supporting multi-billion-dollar R&D
• European Union: Quantum Flagship Program investing €1 billion over 10 years
• China: heavy investments in national quantum laboratories
• India: National Quantum Mission and dedicated funding for research hubs
• South Korea, Germany, Canada: expanding quantum centers and commercialization pathways

Such programs support workforce development, infrastructure, and innovations across hardware, software, and services—accelerating global market expansion.

Component Insights: Hardware Leads the Market

The hardware segment holds a 45% share in 2024, driven by intense R&D efforts to build scalable, stable quantum processors. Companies are exploring different technologies, including:

• Superconducting qubits
• Trapped ions
• Photonic qubits
• Topological qubits
• Neutral atoms

Quantum hardware requires advanced fabrication, cryogenic cooling systems, and precision engineering. This pushes significant capital investment into hardware development, making it the most critical segment of the market.

Major technology giants—IBM, Google, Intel, Rigetti—are rapidly increasing their quantum hardware capabilities, with systems accessible via cloud platforms.

Regional Outlook: North America Leads the Global Market

North America dominates the global quantum computing market with a 41% share in 2024. The region benefits from:

• Strong government funding
• Innovation-driven tech companies
• Leading quantum research institutions
• High venture capital investment
• Well-developed academic ecosystem

With over 54 major investment institutions, North America serves as a hub for quantum R&D, commercialization, and talent development.

Key Players and Industry Developments

Prominent players include:

IBM, Google Research, Microsoft, Amazon Braket, Intel, D-Wave, Fujitsu, Honeywell, Accenture, Atos, Rigetti, Toshiba, Quantum Circuits, QC Ware, 1QB Information Technologies, River Lane, Magiq Technologies, and others.

Recent Developments

• Oct 2025: U.S. scientists (Clarke, Devoret, Martinis) showcased quantum chip breakthroughs, advancing global quantum R&D.
• July 2025: Rigetti unveiled a 36-qubit system with 99.5% two-qubit gate fidelity, moving closer to scalable fault-tolerant quantum computing.

Conclusion

The global quantum computing market is entering an era of unprecedented innovation. With rising adoption across industries, massive government support, rapid technological evolution, and expanding R&D capabilities, the market is set to grow exponentially through 2035.

Quantum computing is not just transforming computational science—it is shaping the future of finance, healthcare, cybersecurity, materials research, and national innovation strategies. As hardware matures and commercial applications expand, quantum computing will soon move from experimentation to real-world impact.