A Comprehensive Guide to Growing Quantum Computing Market
The global quantum computing market size is anticipated to reach USD 4.24 billion by 2030, registering a CAGR of 20.1% from 2024 to 2030, according to a new report by Grand View Research, Inc.
Quantum computing is an emerging field with the potential to revolutionize 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. For instance, in November 2023, the U.S. Defense Advanced Research Projects Agency (DARPA) awarded Phase 2 funding to Rigetti Computing. This potential grant, amounting to USD 1.5 million, is intended to support Rigetti Computing in developing benchmarks for assessing the performance of large-scale quantum computers in real-world applications.
Gather more insights about the market drivers, restrains and growth of the Quantum Computing Market
Quantum Computing Market Report Highlights
• Based on offering, the system segment dominated the market with a revenue share of over 64.2% in 2023. The service segment, on the other hand, is expected to register the fastest CAGR during the forecast period, attributed to the increasing number of startups investing in R&D related to quantum computing technology.
• Based on deployment, the cloud segment is projected to account for a larger market share than the on-premises segment from 2024 to 2030
• Based on application, the optimization segment held the largest revenue share of 30.8% in 2023. By leveraging the power and speed of quantum computing, an organization can optimize their operation, improve its decision-making, and reduce costs.
• Europe dominated the market with a revenue share of 34.2% in 2023. The region witnessed the emergence of several startup and spinoff companies focused on companies focused on quantum computing
Browse through Grand View Research's Next Generation Technologies Industry Research Reports.
• The global AI agents market size was valued at USD 3.86 billion in 2023 and is expected to grow at a CAGR of 45.1% from 2024 to 2030.
• The global accelerated processing unit market size was estimated at USD 13.85 billion in 2023 and is projected to grow at a CAGR of 17.5% from 2024 to 2030.
Quantum Computing Market Segmentation
Grand View Research has segmented the global quantum computing market based on offering, deployment, application, end-user, and region:
Quantum Computing Offering Outlook (Revenue, USD Million, 2017 - 2030)
• System
• Services
Quantum Computing Deployment Outlook (Revenue, USD Million, 2017 - 2030)
• On-Premises
• Cloud
Quantum Computing Application Outlook (Revenue, USD Million, 2017 - 2030)
• Optimization
• Simulation
• Machine Learning
• Others
Quantum Computing End-user Outlook (Revenue, USD Million, 2017 - 2030)
• Aerospace & Defense
• BFSI
• Healthcare
• Automotive
• Energy & Power
• Chemical
• Government
• Others
Quantum Computing Regional Outlook (Revenue, USD Million, 2017 - 2030)
• North America
o U.S.
o Canada
• Europe
o UK
o Germany
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia
• Latin America
o Brazil
o Mexico
• Middle East & Africa
o KSA
o UAE
o South Africa
Order a free sample PDF of the Quantum Computing Market Intelligence Study, published by Grand View Research.
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