Quantum Computing Market Outlook 2035: Global Market to Surpass USD 27.6 Billion by 2035, Growing at a Striking CAGR of 32.2%

The global quantum computing market (https://www.transparencymarketresearch.com/quantum-computing-market.html) is witnessing a technological revolution, characterized by rapid advancements, government investments, and increased industrial adoption. Valued at US$ 1.2 billion in 2024, the market is forecast to reach US$ 27.6 billion by 2035, expanding at a remarkable CAGR of 32.2% from 2025 to 2035. The exponential growth trajectory reflects the ongoing momentum in research, commercialization, and strategic collaborations among tech giants and startups alike.

Quantum computing's potential to transform sectors such as finance, healthcare, logistics, and energy-by solving complex problems at unprecedented speeds-is redefining the boundaries of computational science and industry innovation.

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Analysts' Viewpoint

According to analysts, the quantum computing market is accelerating due to growing investments in advanced quantum technologies, supportive government policies, and the race toward computational supremacy. The technology enables businesses to process massive datasets using quantum mechanical principles such as superposition and entanglement, offering a paradigm shift in data analysis, optimization, and simulation.

For instance, quantum computing applications in financial modeling help institutions optimize portfolios and assess risks more accurately, while in healthcare, it accelerates drug discovery and protein structure analysis. Similarly, in manufacturing and logistics, quantum algorithms enhance process simulation, reducing costs and improving operational efficiency.

Countries like South Korea, the United States, and Germany are leading the charge with significant public funding and R&D programs. As such, early adopters are poised to gain a competitive advantage, as quantum technology becomes commercially viable. Analysts emphasize that investing in quantum readiness today will empower businesses to capitalize on disruptive innovations in the near future.

Market Introduction

Quantum computing represents the next frontier in computational technology, leveraging the laws of quantum mechanics to perform calculations far beyond the reach of even the most powerful supercomputers. Unlike classical computers that process information in bits (0 or 1), quantum computers use qubits, which can exist in multiple states simultaneously.

This allows them to execute complex algorithms at unmatched speed and scale. For example, IBM's Qiskit SDK 1.x, launched in 2024, marked a major milestone by offering stable quantum software to over 600,000 registered users and 700 universities worldwide-fueling global educational and research efforts.

Industry-Wide Adoption Driving Market Growth

The growing adoption of quantum computing across diverse industries is reshaping innovation and competitiveness. In financial services, institutions use quantum algorithms for risk modeling, fraud detection, and portfolio optimization, enabling faster decision-making with enhanced accuracy. In healthcare, quantum machine learning accelerates drug discovery and genomic research, enabling breakthroughs that were once computationally impossible.

Moreover, energy and manufacturing industries are leveraging quantum technologies for process simulation and supply chain optimization. These advancements not only reduce inefficiencies but also unlock new opportunities for sustainable innovation. As industries transition from experimental prototypes to practical applications, quantum computing is becoming an indispensable enabler of business transformation.

Government Initiatives and Funding Bolstering Market Expansion
Governments worldwide are treating quantum technology as a national strategic priority, pouring billions into research and commercialization.

In the United States, the National Quantum Initiative Act allocates multi-billion-dollar funding for quantum R&D.
The European Union's Quantum Flagship Program invests €1 billion over 10 years in advancing quantum technologies.
South Korea has launched initiatives for quantum commercialization and workforce training, while India's National Quantum Mission is fostering a robust startup ecosystem and research hubs.
Similarly, China, Germany, and Canada are racing to develop quantum communication networks and computing infrastructure.
Such global funding momentum is laying the groundwork for a vibrant, competitive quantum ecosystem.

Component Analysis: Hardware Leading the Market

The hardware segment dominated the global quantum computing market in 2024, accounting for 45% of total revenue. Hardware forms the foundation for scalable and stable quantum systems, including processors, qubits, and cryogenic environments. However, unlike classical computing, quantum hardware remains in an early stage of maturity, requiring intensive R&D investments and precision engineering.

Major players like IBM, Google, Intel, and Rigetti are developing superconducting qubits, trapped ions, and photonic qubits to overcome challenges related to qubit stability, error correction, and scalability. The industry's focus remains on achieving fault-tolerant quantum computing, which will unlock mainstream adoption.

In July 2025, Rigetti Computing unveiled a 36-qubit quantum system with a 99.5% two-qubit gate fidelity, marking a milestone in reducing error rates by half compared to its previous models. This advancement highlights how hardware innovation continues to fuel overall market expansion.

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Regional Outlook: North America Leads the Global Market

North America dominated the global quantum computing market in 2024, holding a 41% revenue share. The region benefits from a robust technological infrastructure, well-funded R&D ecosystems, and the presence of leading players such as IBM, Google, Microsoft, and Intel.

Additionally, North America hosts 54 major investment institutions supporting quantum startups and projects. The region's proactive approach to talent development-through universities and research centers-ensures a strong pipeline of skilled professionals in quantum science and engineering.

Meanwhile, Europe continues to strengthen its position with coordinated initiatives under the EU's Quantum Flagship program. Asia-Pacific, led by China, Japan, South Korea, and India, is emerging as a high-growth region due to expanding R&D funding and the establishment of quantum research hubs.

Competitive Landscape

The global quantum computing market features a competitive mix of tech giants, startups, and research-driven enterprises. Key players include:
IBM Corporation, Google Research, Microsoft Corporation, Amazon Braket, Intel Corporation, Rigetti Computing, D-Wave Quantum Inc., Atos SE, Fujitsu, Hitachi Ltd, Hewlett Packard Enterprise, Honeywell Inc., and Cambridge Quantum Computing Ltd.

These companies are actively investing in strategic partnerships, cloud-based quantum access, and hybrid computing solutions. The competitive matrix emphasizes product innovation, system scalability, and collaborative R&D as the core pillars for maintaining market leadership.

Recent Developments

October 2025: Three U.S. scientists-John Clarke, Michel Devoret, and John Martinis-won the Nobel Prize in Physics for breakthroughs in quantum chip technology, proving that quantum effects can exist on a macroscopic scale, enabling future advancements in quantum sensors and processors.
July 2025: Rigetti Computing introduced its 36-qubit modular system, achieving a significant leap in quantum fidelity and scalability, paving the way for 100+ qubit systems.

Conclusion

The quantum computing market is at a pivotal stage, transitioning from laboratory research to real-world commercial applications. With global funding, cross-sector adoption, and breakthroughs in hardware and software, the industry is projected to witness unprecedented expansion-surging from US$ 1.2 billion in 2024 to US$ 27.6 billion by 2035.

As governments and enterprises continue to invest in quantum readiness, the technology is set to reshape industries, redefine computational boundaries, and power the next wave of digital transformation. The decade leading up to 2035 will likely determine which organizations emerge as leaders in the quantum era.

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