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What Is the Forecasted Market Size of the Quantum Information Processing Market by 2029?
The quantum information processing market size has grown exponentially in recent years. It will grow from $1.68 billion in 2024 to $2.12 billion in 2025 at a compound annual growth rate (CAGR) of 26.0%. The growth in the historic period can be attributed to increasing need for faster computational power, demand for enhanced cybersecurity, progress in quantum communication technologies, governmental support and funding for quantum research, rise in data-driven decision-making and breakthroughs in quantum error correction.
The quantum information processing market size is expected to see exponential growth in the next few years. It will grow to $5.28 billion in 2029 at a compound annual growth rate (CAGR) of 25.7%. The growth in the forecast period can be attributed to increasing investment in quantum research, growing demand for quantum computing applications, progress in quantum machine learning, need for more efficient drug discovery processes, expansion of quantum computing as a service and rising interest in quantum-based optimization problems. Major trends in forecast period includes advancements in quantum hardware fabrication, development of fault-tolerant quantum computers, integration of quantum computing with classical systems, rise of quantum machine learning algorithms, growth of quantum encryption and cryptographic protocols, enhancement of quantum communication networks and development of quantum software frameworks.
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Which Factors Are Driving Growth in the Quantum Information Processing Market?
The increasing need for cybersecurity solutions is expected to propel the growth of the quantum information processing market going forward. Cybersecurity solutions are technologies, processes, and practices designed to protect digital systems, networks, and data from unauthorized access, attacks, damage, or theft. The need for cybersecurity solutions is increasing due to the growing threat of quantum-enabled cyberattacks, as quantum computers could break traditional encryption algorithms, compromising global data security. Quantum information processing enhances cybersecurity solutions by enabling ultra-secure communication methods, such as quantum key distribution, that are resistant to hacking. It safeguards sensitive data by leveraging quantum principles, ensuring stronger protection against emerging cyber threats. For instance, in April 2024, according to the Department for Science, Innovation & Technology, a UK-based government department, the use of up-to-date malware protection rose in US government departments, and business increased from 76% in 2023 to 83% in 2024. Therefore, the increasing need for cybersecurity solutions is driving the growth of the quantum information processing market.
What Are the Key Segments in the Quantum Information Processing Market?
The quantum information processingmarket covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Quantum Computing, Quantum Cryptography, Quantum Communication, Quantum Sensing, Quantum Simulation
3) By Deployment: On-Premise, Cloud Based
4) By End-User: Banking, Financial Services And Insurance, Healthcare, Information Technology And Telecommunications, Government, Other End Users
Subsegments:
1) By Hardware: Quantum Processors, Quantum Sensors, Quantum Chips, Quantum Memory Devices, Quantum Communication Devices
2) By Software : Quantum Algorithms, Quantum Simulation Software, Quantum Programming Languages, Quantum Development Kits, Quantum Software Frameworks
3) By Services: Quantum Computing Services, Quantum Cloud Services, Quantum Consulting, Quantum Training and Education, Quantum Integration And Support Services
What Are the Key Trends Shaping the Quantum Information Processing Market?
Major companies operating in the quantum information processing market are focusing on developing innovative products, such as quantum processors, to accelerate problem-solving capabilities and maintain a competitive edge. A quantum processor is a computing unit that uses quantum bits (qubits) to perform complex calculations by leveraging quantum phenomena such as superposition and entanglement. For instance, in February 2025, Microsoft Corporation, a US-based technology company, launched Majorana 1, a quantum processing unit (QPU) powered by a topological core designed to scale to a million qubits on a single chip. It forms a zero-energy mode at the ends of a topological superconductor, acting as its antiparticle. It enables non-local qubit encoding, offering strong resistance to decoherence for fault-tolerant quantum computing.
Who Are the Leading Players in the Quantum Information Processing Market?
Major companies operating in the quantum information processing market are Google LLC, Microsoft Corporation, Intel Corporation, IBM Corporation, Toshiba Corporation, NEC Corporation, D-Wave Systems Inc., Xanadu Quantum Technologies Inc., Quantum Machines Ltd., ColdQuanta Inc., IonQ Inc., 1QBit Information Technologies Inc., ID Quantique SA, Quantum Circuits Inc., Q-CTRL Pty Ltd, Rigetti Computing Inc., MagiQ Technologies Inc., QuintessenceLabs Pty Ltd, Atom Computing Inc., Origin Quantum Computing Technology Co. Ltd., Alpine Quantum Technologies GmbH, Strangeworks Inc.
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What Are the Key Regional Trends in the Quantum Information Processing Market?
North America was the largest region in the quantum information processing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the quantum information processing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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