Quantum Technology Market
Quantum Technology Market Forecasts to 2032 - Global Analysis By Component Type (Hardware, Software and Services), Investment Type, Technology Type, Application, End User and By Geography
|
Years Covered |
2024-2032 |
|
Estimated Year Value (2025) |
US $1629.0 MN |
|
Projected Year Value (2032) |
US $6938.3 MN |
|
CAGR (2025-2032) |
23.0% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Quantum Technology Market is accounted for $1629.0 million in 2025 and is expected to reach $6938.3 million by 2032 growing at a CAGR of 23.0% during the forecast period. Quantum technology is a set of advanced technologies based on the principles of quantum mechanics, the fundamental theory of nature at the smallest scales of energy levels of atoms and subatomic particles. It involves harnessing quantum phenomena like superposition, entanglement, and quantum tunneling to develop groundbreaking applications in fields such as computing, cryptography, sensing, and communications. Quantum technologies aim to solve complex problems beyond the capability of classical technologies, offering enhanced performance in areas like data processing, secure communication, and precise measurement, thus driving innovation across industries.
Market Dynamics:
Driver:
Rising demand for enhanced computational power
The rising demand for enhanced computational power in the market is driven by the need to solve complex problems that classical computers cannot handle. Industries such as pharmaceuticals, materials science, and cybersecurity require faster and more powerful computing capabilities for tasks like drug discovery, optimization, and encryption. As quantum technologies evolve, the demand for high-performance quantum computers capable of processing vast amounts of data is expected to grow significantly.
Restraint:
Qubit instability and error correction
Qubit instability and the need for effective error correction are major challenges in the market. Qubits are highly susceptible to noise, environmental disturbances, and decoherence, leading to errors in quantum computations. Developing robust error-correction techniques is crucial for ensuring reliable performance in quantum computers. As the industry progresses, overcoming these challenges is key to unlocking the full potential of quantum technology for complex, real-world applications.
Opportunity:
Advancements in quantum communication infrastructure
Advancements in quantum communication infrastructure are transforming the market by enabling ultra-secure data transmission. Innovations in quantum key distribution (QKD) and entanglement-based communication protocols are paving the way for secure networks resistant to eavesdropping. These advancements are crucial for industries such as banking, defense, and healthcare, where data security is paramount. As infrastructure improves, the widespread adoption of quantum communication systems is expected to enhance global cybersecurity and privacy.
Threat:
Lack of standardization
The lack of standardization in the market hinders interoperability and slows progress. Without established protocols and uniform guidelines, different quantum systems may struggle to communicate or integrate, limiting collaboration across companies and research institutions. This fragmentation can lead to inefficiencies, increased costs, and slower adoption of quantum technologies. Standardization is essential for ensuring compatibility, accelerating innovation, and enabling broader application across industries.
Covid-19 Impact:
The COVID-19 pandemic disrupted the market by delaying research projects, slowing down supply chains, and diverting resources away from quantum development towards more immediate public health concerns. However, it also highlighted the importance of advanced technologies, including quantum computing and communications, in addressing global challenges. As a result, post-pandemic recovery has seen renewed interest and investment in quantum research, accelerating long-term innovation and applications in the field.
The quantum simulation segment is expected to be the largest during the forecast period
The quantum simulation segment is expected to account for the largest market share during the forecast period. It has applications in fields like material science, chemistry, and drug discovery. By simulating quantum phenomena, these systems can provide insights into molecular interactions and material properties at an unprecedented level of precision. This capability is expected to revolutionize industries by enabling faster, more accurate simulations for advanced research and development.
The aerospace & defense segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the aerospace & defense segment is predicted to witness the highest growth rate. Quantum encryption can provide unbreakable security for sensitive data transmission, while quantum sensors enhance precision in GPS-denied environments. Additionally, quantum computing has the potential to revolutionize simulations for aerospace design and defense strategy. As these technologies mature, they promise to significantly improve operational capabilities, security, and decision-making in aerospace and defense applications.
Region with largest share:
During the forecast period, the Asia Pacific region is expected to hold the largest market share. These nations are focusing on advancing quantum computing, communication, and cryptography, with government-backed initiatives and collaborations between academia and industry. The region is emerging as a global hub for quantum research, with applications in telecommunications, cybersecurity, and manufacturing, positioning itself as a key player in the global quantum technology landscape.
Region with highest CAGR:
Over the forecast period, the North America region is anticipated to exhibit the highest CAGR. Collaborations between governments, research organizations, and private companies ensure the development of infrastructure and long-term projects in quantum computing, communication, and sensing. Additionally, the race for global leadership in quantum technologies, particularly with China making significant strides, has prompted governments and companies to ramp up their investments to stay competitive.
Key players in the market
Some of the key players in Quantum Technology Market include IBM, Toshiba Quantum Computing, Google, Photonic Systems Inc, Microsoft, Qutech, Honeywell, Alibaba Group, Intel, Amazon Web Services, Rigetti Computing, Bosch Quantum Sensing, Xanadu, Cambridge Quantum Computing and Zapata Computing.
Key Developments:
In November 2024, IBM announced quantum hardware and software advancements to execute complex algorithms on IBM quantum computers with record levels of scale, speed, and accuracy. IBM Quantum Heron, the company's most performant quantum processor to-date and available in IBM's global quantum data centers, can now leverage Qiskit to accurately run certain classes of quantum circuits with up to 5,000 two-qubit gate operations..
In April 2024, Toshiba Digital Solutions Corporation has announced partnership with KT Corporation (KT), has demonstrated how banks and financial networks can be protected from cyberattacks by quantum computers by bringing hybrid quantum secure communications, comprising quantum key distribution (QKD)*1 and post-quantum cryptography (PQC)*2, to secure communications at Shinhan Bank, one of South Korea’s leading banks.
Component Types Covered:
• Hardware
• Software
• Services
Investment Types Covered:
• Private Investment
• Public Investment
• Collaborative Investments
Technology Types Covered:
• Quantum Computing
• Quantum Communication
• Quantum Sensing & Metrology
• Quantum Simulation
• Other Technology Types
Applications Covered:
• Optimization Problems
• Quantum Key Distribution (QKD)
• Temperature & Pressure Sensing
• Energy Efficiency
• Molecular & Chemical Simulations
• Smart Grid Optimization
• Other Applications
End Users Covered:
• Pharmaceuticals
• Aerospace & Defense
• Telecommunications
• Automotive
• Energy
• Financial Services
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Quantum Technology Market, By Component Type
5.1 Introduction
5.2 Hardware
5.2.1 Physical Quantum Computers
5.2.2 Cryogenic Systems
5.2.3 Laser Systems
5.2.4 Optical Components
5.3 Software
5.3.1 Algorithms
5.3.2 Simulation Software
5.3.3 Quantum Cloud Platforms
5.4 Services
6 Global Quantum Technology Market, By Investment Type
6.1 Introduction
6.2 Private Investment
6.3 Public Investment
6.4 Collaborative Investments
7 Global Quantum Technology Market, By Technology Type
7.1 Introduction
7.2 Quantum Computing
7.3 Quantum Communication
7.4 Quantum Sensing & Metrology
7.5 Quantum Simulation
7.6 Other Technology Types
8 Global Quantum Technology Market, By Application
8.1 Introduction
8.2 Optimization Problems
8.3 Quantum Key Distribution (QKD)
8.4 Temperature & Pressure Sensing
8.5 Energy Efficiency
8.6 Molecular & Chemical Simulations
8.7 Smart Grid Optimization
8.8 Other Applications
9 Global Quantum Technology Market, By End User
9.1 Introduction
9.2 Pharmaceuticals
9.3 Aerospace & Defense
9.4 Telecommunications
9.5 Automotive
9.6 Energy
9.7 Financial Services
9.8 Other End Users
10 Global Quantum Technology Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 IBM
12.2 Toshiba Quantum Computing
12.3 Google
12.4 Photonic Systems Inc
12.5 Microsoft
12.6 Qutech
12.7 Honeywell
12.8 Alibaba Group
12.9 Intel
12.10 Amazon Web Services
12.11 Rigetti Computing
12.12 Bosch Quantum Sensing
12.13 Xanadu
12.14 Cambridge Quantum Computing
12.15 Zapata Computing
List of Tables
1 Global Quantum Technology Market Outlook, By Region (2024-2032) ($MN)
2 Global Quantum Technology Market Outlook, By Component Type (2024-2032) ($MN)
3 Global Quantum Technology Market Outlook, By Hardware (2024-2032) ($MN)
4 Global Quantum Technology Market Outlook, By Physical Quantum Computers (2024-2032) ($MN)
5 Global Quantum Technology Market Outlook, By Cryogenic Systems (2024-2032) ($MN)
6 Global Quantum Technology Market Outlook, By Laser Systems (2024-2032) ($MN)
7 Global Quantum Technology Market Outlook, By Optical Components (2024-2032) ($MN)
8 Global Quantum Technology Market Outlook, By Software (2024-2032) ($MN)
9 Global Quantum Technology Market Outlook, By Algorithms (2024-2032) ($MN)
10 Global Quantum Technology Market Outlook, By Simulation Software (2024-2032) ($MN)
11 Global Quantum Technology Market Outlook, By Quantum Cloud Platforms (2024-2032) ($MN)
12 Global Quantum Technology Market Outlook, By Services (2024-2032) ($MN)
13 Global Quantum Technology Market Outlook, By Investment Type (2024-2032) ($MN)
14 Global Quantum Technology Market Outlook, By Private Investment (2024-2032) ($MN)
15 Global Quantum Technology Market Outlook, By Public Investment (2024-2032) ($MN)
16 Global Quantum Technology Market Outlook, By Collaborative Investments (2024-2032) ($MN)
17 Global Quantum Technology Market Outlook, By Technology Type (2024-2032) ($MN)
18 Global Quantum Technology Market Outlook, By Quantum Computing (2024-2032) ($MN)
19 Global Quantum Technology Market Outlook, By Quantum Communication (2024-2032) ($MN)
20 Global Quantum Technology Market Outlook, By Quantum Sensing & Metrology (2024-2032) ($MN)
21 Global Quantum Technology Market Outlook, By Quantum Simulation (2024-2032) ($MN)
22 Global Quantum Technology Market Outlook, By Other Technology Types (2024-2032) ($MN)
23 Global Quantum Technology Market Outlook, By Application (2024-2032) ($MN)
24 Global Quantum Technology Market Outlook, By Optimization Problems (2024-2032) ($MN)
25 Global Quantum Technology Market Outlook, By Quantum Key Distribution (QKD) (2024-2032) ($MN)
26 Global Quantum Technology Market Outlook, By Temperature & Pressure Sensing (2024-2032) ($MN)
27 Global Quantum Technology Market Outlook, By Energy Efficiency (2024-2032) ($MN)
28 Global Quantum Technology Market Outlook, By Molecular & Chemical Simulations (2024-2032) ($MN)
29 Global Quantum Technology Market Outlook, By Smart Grid Optimization (2024-2032) ($MN)
30 Global Quantum Technology Market Outlook, By Other Applications (2024-2032) ($MN)
31 Global Quantum Technology Market Outlook, By End User (2024-2032) ($MN)
32 Global Quantum Technology Market Outlook, By Pharmaceuticals (2024-2032) ($MN)
33 Global Quantum Technology Market Outlook, By Aerospace & Defense (2024-2032) ($MN)
34 Global Quantum Technology Market Outlook, By Telecommunications (2024-2032) ($MN)
35 Global Quantum Technology Market Outlook, By Automotive (2024-2032) ($MN)
36 Global Quantum Technology Market Outlook, By Energy (2024-2032) ($MN)
37 Global Quantum Technology Market Outlook, By Financial Services (2024-2032) ($MN)
38 Global Quantum Technology Market Outlook, By Other End Users (2024-2032) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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