Quantum computing market set to be nearly $9bn inside 5 years

The global quantum computing market is projected to surge to nearly US$ 8.8 billion by 2031, driven by increased investments, technological advances, and expanding commercial applications across sectors such as pharmaceuticals and finance.

“The Global Quantum Computing Market was valued at US$ 650.1 million in 2022 and is projected to reach US$ 8,788.8 million by 2031, growing at a CAGR of 38.9% during the forecast period 2024-2031.” According to the report by DataM Intelligence, that steep trajectory is being driven by rising government and private investment, advances in qubit stability and error correction, and expanding commercial use cases in pharmaceuticals, finance and materials science. ^[1]

The report highlights several core catalysts underpinning growth: surging public R&D funding (which DataM estimates at more than US$38 billion globally), the maturation of hybrid quantum–classical systems, and broader cloud access that lowers the barriers for enterprise experimentation. Industry developments in late 2024 and through 2025 , from hardware upgrades to new error‑correction techniques and expanded cloud offerings , are cited as evidence that commercial experimentation is accelerating. According to other market studies, the complementary role of quantum alongside high‑performance classical computing is already shaping early applications such as molecular modelling, optimisation and cryptography. ^[1][2][3]

DataM’s segmentation places hardware as the largest revenue contributor (46%), with software (32%) and services (22%) following. Cloud deployment is said to lead with a 61% share by deployment type, reflecting partnerships between hardware vendors and cloud providers that allow customers to access quantum processors without owning infrastructure. DataM emphasises the growing market for consulting, integration and managed services as organisations move from pilots to early production use cases. ^[1]

On technology splits, DataM assigns the largest single share to trapped ions (34%), with quantum annealing at 29% and quantum dots at 23%, while “other” approaches including superconducting and photonic systems make up the remainder. That picture is not uniform across analysts: a separate industry report notes superconducting approaches as the leading technology in 2024 and flags topological qubits as a fast‑growing area, underscoring that technology leadership remains contested and dependent on which performance metrics (fidelity, coherence time, manufacturability) analysts privilege. ^[1][2]

Regionally, DataM places North America at 39% of revenue, ahead of Asia‑Pacific (25%) and Europe (20%), and lists IBM, Google, Microsoft and D‑Wave among the market leaders. Recent vendor announcements illustrate why: IBM has unveiled experimental chips and roadmaps it says point to useful, scalable systems by the end of the decade, while other firms have reported advances in error correction, trapped‑ion fidelity and cloud integration that industry analysts say are narrowing the gap between laboratory progress and commercial utility. Reuters coverage of IBM’s ‘Loon’ and related work captures both the promise and the technical complexity that remains on the path to broader quantum advantage. ^[1][4]

Notwithstanding convergence on the market’s long‑term importance, analyst forecasts differ markedly on size and timing. DataM’s US$8.79 billion by 2031 projection sits alongside other estimates ranging from roughly US$4.2 billion to US$55.2 billion depending on scope and whether reports focus specifically on cloud‑hosted offerings, narrower technology segments or longer horizons. For example, GlobeNewswire summarised a study projecting about US$7.48 billion by 2030, BCC Research projected roughly US$7.3 billion by 2030 from a 2025 baseline, Grand View Research suggested a smaller 2030 market, while a Verified Market Research study that isolates cloud‑based quantum services put a much larger figure by 2031. Such divergence reflects differing definitions (quantum hardware only versus cloud services and software), timeframes and growth assumptions. ^{[2][3][6][5][7]}

The market narrative that emerges is one of rapid technical progress paired with persistent uncertainty about timing and commercial scale. Governments and corporations are increasing bets, and vendor roadmaps and academic breakthroughs are shortening timelines for specific applications, yet analysts warn that fault tolerance, error correction and scalable manufacturing remain the principal bottlenecks. As DataM notes, and as recent vendor disclosures reinforce, investments and collaborative ecosystems will determine whether the field moves from episodic demonstrations to routine enterprise adoption. ^[1][4][3]

##Reference Map:

• ^[1] (DataM Intelligence / Web3Wire) – Paragraph 1, Paragraph 2, Paragraph 3, Paragraph 4, Paragraph 5, Paragraph 7
• ^[2] (GlobeNewswire) – Paragraph 2, Paragraph 4, Paragraph 6
• ^[3] (BCC Research / GlobeNewswire summary) – Paragraph 2, Paragraph 6, Paragraph 7
• ^[4] (Reuters) – Paragraph 5, Paragraph 7
• ^[5] (Verified Market Research / PR Newswire summary) – Paragraph 6
• ^[6] (Grand View Research) – Paragraph 6
• ^[7] (Precedence Research) – Paragraph 6

Source: Fuse Wire Services