2024 Market: Products & Services $8.45 B. Government-Funded R&D $2.25 B

Quantum Computing Market Size 2024 [$B]

We are in the midst of a “Quantum Computing Technologies Supremacy Race”, one that will result in groundbreaking computing power, enabling disruptive new quantum computing technologies that have the potential to change long-held dynamics in commerce, intelligence, military affairs and strategic balance of power. If you have been paying attention to the news on quantum computing and the evolution of industrial and national efforts towards realizing a scalable, fault-tolerant quantum computer, that can tackle problems, unmanageable to current supercomputing capabilities, then you know that something big is stirring throughout the quantum world.

In a way that was unheard of five years ago, quantum physicists are now partnering with corporate tech giants, to develop quantum computing capabilities and technologies as the foundation of a second information age.

Advances in quantum computer design, fault-tolerant algorithms and new fabrication technologies are now transforming this “holy-grail” technology into a realistic program poised to surpass traditional computation in some applications. With these new developments, the question companies are asking is not whether there will be a quantum computer, but who will build it and benefit from it. Realizing quantum computing capability demands that hardware efforts would be augmented by the development of quantum software to obtain optimized quantum algorithms able to solve application problems of interest.

China Quantum Computing: On May 3, 2017, Xinhua, the official press agency of the People’s Republic of China, surprised the Quantum Computing community by announcing that “Chinese scientists have built the world’s first quantum computing machine that goes far beyond the early classical — or conventional — computers, paving the way to the ultimate realization of quantum computing. Scientists announced their achievement at a press conference in the Shanghai Institute for Advanced Studies of University of Science and Technology of China. Chinese quantum computing scientists believe that China quantum computers could, in some ways, dwarf the processing power of today’s supercomputers”.

IT multinationals, such as IBM, Intel, Microsoft and others (see image below), run their own quantum computing projects. IT giants Google and Microsoft have set challenging quantum computing goals for 2017. Their ambition reflects a broader transition taking place at start-ups and academic research labs alike: to move from pure science towards engineering.

Taking as an example, IBM quantum computing technology accomplishments: In 2012, IBM quantum computing scientists said that they had made several breakthroughs in quantum computing with superconducting integrated circuits. In April 2015 IBM quantum computing R&D claimed two critical advances towards the realization of a practical quantum computer. They claimed the ability to detect and measure both kinds of quantum errors simultaneously, as well as a new, square quantum bit circuit design that could scale to larger dimensions.

In March 2017, IBM Quantum Computing R&D team took an historical step towards mass adoption of quantum computing by launching a commercialized quantum computing system aimed at businesses and the science industry. Dubbed as IBM Q, the system and services are accessible via the IBM Cloud platform. Currently, you can tool around with building algorithms for quantum computing using the IBM Quantum Experience. Since its launch, about 40,000 users have run over 275,000 experiments on this tool.

IBM Quantum Computing R&D team announced the release of an API (Application Program Interface) that lets developers and programmers, even those lacking a deep background in quantum physics, build interfaces that operate between IBM quantum computers running at speeds of five quantum bits (qubits) and the more conventional computers in use today.

Quantum Computing Race Corporations

Due to economic interest and the “decline of Moore’s Law” of computational scaling, eighteen of the world’s biggest corporations (see image above) and dozens of government agencies are working on quantum processor technologies and/or quantum software or partnering with the quantum industry startups like D-Wave. The main contenders in this race are IBM, Intel, Microsoft and Google. Near-term expectations for quantum computing range from solving optimization problems, quantum-encrypted communications, artificial intelligence, smart manufacturing & logistics and smart retail, to quantum computing services in the cloud and molecular structure research.

Quantum Computing Will Transform Almost Every Aspect of our Technology, Science, Economy & Life
(Sources – World Economic Forum, HSRC)

Smaller quantum computers will make other contributions to industry (energy, logistics etc.), defense and national security intelligence markets, as well as other markets spanning from drug design to finance.

Even simple quantum computers can tackle classes of problems that choke conventional machines, such as optimizing trading strategies or pulling promising drug candidates from scientific literature.

The fierce competition at the national industrial and academic level is leading to a race for quantum supremacy. The competitors are all worthy of respect, especially because they are striving for supremacy not just over each other, but over a problem so big and so complex, that anybody’s success is everybody’s success. 

According to the “Quantum Computing Technologies & Global Market – 2018-2024” report, the global Quantum Computing market* will reach $10.7 billion by 2024, out of which $8.45 billion stem from product sales and services and $2.25 billion from government-funded RDT&E programs. 

The 2-volume 529-page landmark report is the only comprehensive review of the global quantum computing market available today. This report is a valuable resource for executives with interests in the market. It has been explicitly customized for ICT industry managers, investors and government decision-makers to enable them to identify business opportunities, emerging applications, market trends and risks, as well as to benchmark business plans.

Questions answered in this report include:

  • What will the quantum computing market size and trends be during 2017-2024?
  • Which are the quantum computing submarkets that provide attractive business opportunities?
  • What drives the customers to purchase quantum computing solutions and services?
  • What are the quantum computer applications & services trends?
  • What are the market SWOT (Strengths, Weaknesses, Opportunities and Threats)?
  • What are the challenges to the quantum computing market penetration & growth?
  • Who are the industry players?
  • How and where to invest in quantum computing industry?
  • What was the quantum computing market size by 2016?
  • What will be the quantum computing market size by 2024?

The Global Quantum Computing Market Vectors

With 529 pages, 242 tables & figures, this report covers 17 vertical, 24 national, 4 revenue sources and 5 regional markets; offering for each of the 73 submarkets 2016 assessments and 2017-2024 forecasts and analyses.

(*) Including: product & services sales and government-funded research, development, testing and evaluation (RDT&E)

Why Buy This Report?

A. Market size data is analyzed via 5 independent key perspectives.
With a highly fragmented market we address the “money trail” – each dollar spent is analyzed and crosschecked via 5 orthogonal viewpoints:

1] By 24 national markets:

  1. U.S.
  2. Canada
  3. Mexico
  4. Brazil
  5. Rest of Latin America
  6. UK
  7. France
  8. The Netherlands
  9. Denmark, Sweden, Norway, Finland
  10. Germany
  11. Switzerland
  12. Russia
  13. Rest of Europe
  14. Saudi Arabia
  15. Other GCC
  16. Israel
  17. South Africa
  18. Rest of ME&A
  19. India
  20. China
  21. Japan
  22. Singapore
  23. Australia
  24. Rest of Asia Pacific

2] By 4 sectors:

  1. National Security
  2. Government
  3. Gov. Funded RDT&E
  4. Industry & Business Sectors

3] by 17 vertical markets

  1. Defense & Intelligence
  2. Homeland Security & Public Safety
  3. Government & Public Services
  4. Gov. Funded RDT&E
  5. Banking & Securities
  6. Manufacturing & Logistics
  7. Insurance
  8. Healthcare & Pharmaceutical
  9. Retail & Wholesale
  10. Information Technology Industry
  11. Telecommunication
  12. Automotive, Aerospace & Transportation
  13. Energy & Utilities
  14. Web, Media & Entertainment
  15. Smart Cities
  16. Cybersecurity
  17. Other Vertical Markets

4] By 4 revenue sources

  1. Systems Sales
  2. Quantum Software Sales
  3. Quantum Computing as a Service
  4. Government Funded RDT&E

5] By 5 regional markets

  1. North America
  2. Latin America
  3. Europe
  4. Middle East & Africa
  5. Asia Pacific

B. Detailed market analysis framework includes:

  1. Business Opportunities
  2. SWOT Analysis
  3. Competitive Analysis
  4. Business Environment

C. 41 Quantum Computing Bids, and Projects Data are provided

D. The report includes the following appendices:

Appendix A: Introduction to Quantum Computing
Appendix B: Quantum Information Technologies
Appendix C: Quantum Computing Hardware
Appendix D: Quantum Computing Software
Appendix E: Quantum Encryption
Appendix F: Global 50 Top Supercomputers
Appendix G: Industry Investment in Quantum Computing – 2006-2016
Appendix H: NQIT R&D Projects
Appendix I: Exascale Computing
Appendix J: Market Background by Country
Appendix K: Key Quantum Computing Patents
Appendix L: Links to 31 Quantum Computing Academic Research Centers
Appendix M: Quantum Conferences Links – 2017
Appendix N: Glossary
Appendix O: References

E. The report includes over 300 links to the Quantum Computing community information sources

F. The report provides an updated extensive data of the leading 55 Quantum Computing companies:

Agilent Technologies
Aifotec AG
Airbus Group
Alibaba Group Holding Limited
Anyon Systems, Inc
Avago Technologies
Booz Allen Hamilton
British Telecommunications (BT)
Cambridge Quantum Computing
Ciena Corporation
D Wave Systems Inc
Eagle Power Technologies, Inc
Entanglement Partners
Emcore Corporation
Enablence Technologies
Finisar Corporation
Fuijitsu Limited
Google Quantum AI Lab
H-Bar Quantum Consultants
Hewlett Packard Enterprise Company
Infinera Corporation
Intel Corporation
ID Quantique
JDS Uniphase Corporation
Kaiam Corporation
Lockheed Martin Corp.
MagiQ Technologies, Inc.
Microsoft Quantum Architectures and
Computation Group (QuArC)
Mitsubishi Electric Corp.
Nokia Bell Labs
NTT Basic Research Laboratories and
NTT Secure Platform Laboratories
QC Ware Corp.
Quantum Circuits
Quantum Hardware Inc
Quintessence Labs
Raytheon BBN
Rigetti Computing
SK Telecom
Sparrow Quantum

G. The report includes a detailed background of 55 Quantum Computing Business Opportunities by the following Quantum Computing Applications and Vertical Markets:

  1. Search Engines
  2. Business Intelligence
  3. Software/Hardware Validation and Verification
  4. Image and Pattern Recognition
  5. National Security Intelligence
  6. Defense
  7. Public Safety
  8. Homeland Security
  9. Government & Public Services
  10. Banking & Financial Services
  11. Financial Electronic Trading & Trading Strategies
  12. Smart Manufacturing & Logistics
  13. Mission Planning/Scheduling and Logistics
  14. Insurance
  15. Medical Diagnostics
  16. Medical Treatments
  17. Pharmacology
  18. Protein Folding
  19. Retail & Wholesale
  20. Information Technology Industry
  21. Telecommunication
  22. Automotive & Transportation
  23. Aerospace
  24. Energy & Utilities
  25. Energy Systems & Photovoltaics
  26. Energy Exploration
  27. Web, Media & Entertainment
  28. Smart Cities
  29. Cybersecurity
  30. Quantum Computing Systems
  31. Quantum Computing Software
  32. Quantum Computing as a Service on the Cloud
  33. Academia & National Labs
  34. Graph Theory Problems
  35. Material Science
  36. Marine Science
  37. Bioinformatics
  38. Climate Modeling & Weather Predictions
  39. Seismic Survey
  40. Risk Management
  41. Simulation
  42. Video Compression
  43. Quantum Cryptography
  44. Post-quantum Cryptography
  45. Optimization Problems
  46. Quantum-Assisted Optimization
  47. Reservoir Optimization Applications
  48. Utilities Management Optimization
  49. Quantum Machine Learning
  50. Quantum Reinforcement Learning
  51. Big Data & Predictive Analytics
  52. Material Science
  53. Quantum Sampling
  54. Quantum Chemistry
  55. Monte Carlo Simulation


Q1] Why is the quantum cryptography market size not included in this report?

A1] The quantum cryptography market size will be published in a future market report.

Q2] What is the quantum computing market forecast during 2017-2022?

A2] The quantum computing market forecast 2017-2022 is included in the “Quantum Computing Technologies & Global Market – 2018-2024” report.

Q3] How to invest in quantum computing stocks? And, which are the publicly traded quantum computing companies?

A3] Many investors asking these who ask the How to invest in quantum computing stocks? And how to find publicly traded quantum computing companies? These investors are disappointed by the fact that as of May 2017 there are no pure play quantum computing stocks on the any stock exchange. Pure play companies like D Wave are funded by venture capital firms, while the investors community is awaiting D-Wave IPO.

Q4] Who provides the quantum computing project finance?

A4] Quantum computing finance is provided by governments (e.g., China, UK, U.S.A., EU). The lion’s share of Quantum computing finance is provided by 18 leading IT multinationals and the private sector, and finance industry leaders including but not limited to Lawrence Berkeley National Laboratory, Deutsche Bank Securities and the CME Group.

Q5] What are the quantum computer applications?

A5] The report includes detailed information on 55 quantum computing applications (see Chapter G above).

Q6] Which are the quantum computing startups? And, which are the quantum computing companies?

A6] The report provides a detailed information of all 57 (May 2017) quantum computing startups and established quantum computing companies (see a detailed list in Chapter F above and the Table of Contents).

Q7] How to invest in 1qbit stock?

A7] 1qbit is a privately held company.

Q8] Which are the top quantum computing companies?

A8] The information related to the top quantum computing companies is included in the report

Q9] How to invest in Rigetti stock? What is the D wave stock symbol? How to invest in D-wave? How to invest in Qxbranch stock?

A9] The report details how to invest in these companies via their venture capital companies

Q10] What are the Quantum Computing Applications?

A10] The report includes a detailed background of 55 by Quantum Computing Applications and Vertical Markets.