The global quantum computing market size was estimated at USD 1.42 billion in 2024 and is projected to reach USD 4.24 billion by 2030, growing at a CAGR of 20.5% from 2025 to 2030. The quantum computing ecosystem is rapidly expanding, with a growing number of startups focusing on hardware, software, and application development.
Both government and private sector investments are fueling this expansion. Governments across the globe are allocating substantial funds to quantum R&D to secure a competitive edge in emerging technologies. Similarly, private enterprises are investing heavily in advancing commercial applications, accelerating innovation in the industry.
Quantum computing has the potential to revolutionize industries due to its unique computational power derived from quantum mechanics. One of the most promising applications lies in cryptography, where quantum systems could solve complex mathematical problems that underpin modern encryption methods. Additionally, the pharmaceutical industry is poised to benefit significantly. Drug discovery involves simulating complex molecular interactions, a task where quantum computing can dramatically reduce computation time, leading to faster, more efficient drug development.
Another key growth area is quantum cloud services, which provide access to quantum computing resources via the internet. These platforms democratize access by allowing researchers, developers, and businesses to leverage quantum computing without needing expensive hardware or specialized expertise. By offering scalable, cloud-based quantum solutions, organizations can accelerate adoption and innovation across industries.
Key Market Highlights:
- Europe dominated the global market with a 33.84% share in 2024.
- By offering, the system segment led with 63.91% share in 2024.
- By deployment, the on-premises segment accounted for the largest revenue share in 2024.
- By application, the optimization segment dominated with the highest revenue share in 2024.
- By end user, the BFSI segment held the leading market share in 2024.
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Market Performance:
- 2024 Market Size: USD 1.42 Billion
- 2030 Projected Market Size: USD 4.24 Billion
- CAGR (2025–2030): 20.5%
- Europe: Largest market in 2024
Prominent Companies & Market Dynamics:
The quantum computing market is highly competitive, with major players investing in strategic partnerships, acquisitions, and product innovation to expand their global footprint. Key companies include Accenture, D-Wave Systems, Google, IBM, Intel, Microsoft, Quantinuum, Rigetti, Riverlane, and Zapata Computing.
- Accenture Plc. is leveraging its expertise in consulting and technology services to help businesses adopt next-generation solutions, including quantum computing. The company partners with global organizations to implement AI-driven and quantum-powered strategies that improve efficiency and innovation.
- IBM Corporation continues to lead in quantum research and development. IBM Research is pioneering advancements in quantum computing and exploring intelligent automation, digital workforce solutions, and sustainability initiatives, with a commitment to achieving net-zero emissions by 2030. IBM’s focus on combining infrastructure, software, and consulting services positions it at the forefront of digital transformation.
Key Companies:
- Accenture Plc.
- D-Wave System Inc.
- Google LLC
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- Quantinuum Ltd.
- Rigetti & Co, Inc.
- Riverlane
- Zapata Computing
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Conclusion
The global quantum computing market is set for rapid expansion, driven by rising investments, growing startup activity, and increasing demand for advanced applications in industries such as BFSI, pharmaceuticals, and cybersecurity. With innovations in cloud-based quantum services and scalable infrastructure, the industry is positioned to transform enterprise operations and scientific research worldwide by 2030.
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