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(Wireless-NewsWire.Com, March 26, 2025 ) Quantum Computing Market Size is valued at USD 1.60 Bn in 2024 and is predicted to reach USD 31.26 Bn by the year 2031 at a 34.8% CAGR during the forecast period for 2025-2034.
Global Quantum Computing Market 2025-2034 full Research Repot latest version is now available.
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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global Quantum Computing market are:
Growing demand for high-performance computing in industries like finance, healthcare, and logistics.
Advancements in quantum hardware and software development by major tech firms and startups.
Increased government and private sector investments fueling research and commercialization.
The following are the primary obstacles to the Quantum Computing market's expansion:
High development and operational costs limit widespread adoption.
Limited availability of skilled professionals hampers progress.
Scalability and error correction challenges hinder commercial viability.
Future expansion opportunities for the global Quantum Computing market include:
Growing demand for quantum computing in financial modelling and risk analysis drives adoption in the banking and finance sector.
Advancements in quantum hardware and cloud-based access enable broader industry applications and enterprise integration.
Increased government and private sector investments accelerate research, development, and commercialization of quantum technologies.
Key Industry Insights & Findings from the Report:
Quantum computing is witnessing rapid advancements, driven by increasing investments from tech giants and governments worldwide.
The financial sector is emerging as a key adopter, leveraging quantum algorithms for portfolio optimization and fraud detection.
North America dominated the market and accounted for a revenue share of global revenue in 2023.
One of the significant concerns restraining industry growth is the high development costs and complex infrastructure requirements.
Market Analysis:
The quantum computing market is rapidly expanding, driven by advancements in quantum hardware, increased investments, and growing demand across industries like finance, healthcare, and logistics.
Key players are enhancing quantum processors and cloud-based quantum services, enabling broader adoption. Governments and enterprises are heavily funding R&D to achieve quantum supremacy. Challenges include error correction, high costs, and limited skilled professionals.
List of Prominent Players in the Quantum Computing Market:
Accenture Plc.
D-WaveSystem Inc.
Google LLC
IBM Corporation
Intel Corporation
Microsoft Corporation
Quantinuum Ltd.
Rigetti & Co, Inc.
Riverlane
Zapata Computing
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Recent Developments:
In November 2023, Terra Quantum, a quantum service provider, collaborated with NVIDIA to develop quantum-accelerated applications. The deal would help bridge the gap between classical and quantum computing, leveraging hybrid algorithms.
In October 2023, Fujitsu partnered with RIKEN and developed AI drug discovery technology. This launch of AI drug discovery technology combines the computing power of the newly developed 64-qubit superconducting quantum computer to deliver a new platform to businesses and research institutions.
In September 2023, Xanadu partnered with Electronics and Telecommunications Research Institute (ETRI) to bring advancement in computing technologies using machine learning and artificial intelligence (AI) technologies.
Quantum Computing Market Dynamics:
Market Drivers: Advancements in Quantum Hardware and Software Development
Advancements in quantum hardware and software development are driving the rapid growth of the quantum computing market. Improved qubit stability, error correction techniques, and scalable architectures are enhancing computational power and reliability.
Quantum processors from companies like IBM, Google, and Intel are evolving, with increased qubit counts and lower error rates. On the software side, new quantum algorithms, programming languages, and cloud-based platforms are making quantum computing more accessible.
Hybrid quantum-classical approaches are being explored for optimization and AI applications. These innovations are accelerating adoption across industries, including finance, pharmaceuticals, and logistics, unlocking new possibilities for complex problem-solving.
Challenges: High Development and Operational Costs
High development and operational costs in the quantum computing market stem from the need for advanced infrastructure, specialized materials, and highly skilled personnel. Building and maintaining quantum processors require extreme conditions, such as ultra-low temperatures and vacuum environments, driving up costs.
Additionally, error correction and stability challenges demand continuous research and development, further increasing expenses. Limited commercial viability and high capital investment deter widespread adoption, making it difficult for startups and smaller enterprises to enter the market.
Moreover, ongoing maintenance, software development, and algorithm optimization add to operational costs, delaying large-scale deployment and restricting accessibility to select industries.
North America Is Expected to Grow with The Highest CAGR During the Forecast Period
High development and operational costs in the quantum computing market stem from the complexity of building and maintaining quantum processors, which require extreme cooling conditions near absolute zero. Specialized materials, error correction mechanisms, and highly skilled talent add to the financial burden.
Additionally, the infrastructure for quantum computing, including shielding from environmental noise and high-precision control systems, significantly raises expenses. The limited availability of scalable quantum hardware further drives up costs.
Moreover, continuous research and development efforts demand substantial funding, making quantum computing accessible primarily to large tech firms, government agencies, and well-funded research institutions, delaying widespread commercial adoption.
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Segmentation of 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 Region-
North America-
The US
Canada
Mexico
Europe-
Germany
The UK
France
Italy
Spain
Rest of Europe
Asia-Pacific-
China
Japan
India
South Korea
South East Asia
Rest of Asia Pacific
Latin America-
Brazil
Argentina
Rest of Latin America
Middle East & Africa-
GCC Countries
South Africa
Rest of Middle East and Africa
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Diana Dsouza
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