The quantum computing industry is entering a new phase of commercial maturity. According to MarketsandMarkets,The Quantum Computing Industry size is valued at USD 1.3 billion in 2024 and is anticipated to be USD 5.3 billion by 2029; growing at a CAGR of 32.7% from 2024 to 2029.
Dominant Technologies and Market Segments
Among quantum technologies, superconducting qubits command the largest market share. Their scalability, high speed, low power consumption, and compatibility with established semiconductor manufacturing make them a preferred foundation for building practical quantum systems
In deployment strategies, on-premises solutions are expected to witness substantial growth during the forecast period. This preference is driven by enterprises’ need for greater data sovereignty and control—especially in security-sensitive applications—as they can process sensitive workloads within their own infrastructure
Leading Verticals and High-Growth Applications
Banking and financial services (BFSI) stand out as the largest adopting vertical for quantum computing, leveraging the technology in portfolio optimization, trading strategies, risk modeling, market instability detection, and cybersecurity enhancements
However, the healthcare and pharmaceutical sector is poised for the fastest growth, as quantum computing enables highly precise modeling and personalization—accelerating drug discovery, diagnostics, and targeted treatments
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Expanding Access: Industry and Geography
Quantum cloud services are gaining traction. The increasing willingness of organizations to access quantum resources through cloud platforms is contributing to the broader accessibility of the technology, especially for R&D purposes
Strategic Drivers and Commercial Momentum
Key factors fueling market expansion include rising investments in quantum R&D, growing industrial adoption across verticals, and a surge in strategic partnerships between tech firms, startups, and governments
The Quantum Computing Industry size is valued at USD 1.3 billion in 2024 and is anticipated to be USD 5.3 billion by 2029; growing at a CAGR of 32.7% from 2024 to 2029, this sector is fast becoming commercially viable across industries. Superconducting qubits dominate today’s architecture, while BFSI and healthcare sectors are driving adoption. Strong growth is also anticipated for on‑premises implementations, especially among organizations emphasizing data control.
While hurdles remain, the technology’s trajectory suggests that quantum computing is transitioning from experimental to essential—paving the way for breakthroughs in optimization, simulation, and AI‑enhanced problem solving.
Quantum Computing Market – FAQ
1. What is the current size of the global quantum computing market?
Quantum Computing Industry size is valued at USD 1.3 billion in 2024 and is anticipated to be USD 5.3 billion by 2029; growing at a CAGR of 32.7% from 2024 to 2029
2. What is the forecasted market size by 2029?
Quantum Computing Industry size is valued at USD 1.3 billion in 2024 and is anticipated to be USD 5.3 billion by 2029; growing at a CAGR of 32.7% from 2024 to 2029
3. Which quantum technology holds the largest market share?
Superconducting qubits hold the largest share in the current market. This is due to their high processing speed, scalability, compatibility with CMOS fabrication, and strong vendor support.
