
cover
- Published: November 2026
- Pages: 777
- Tables: 106
- Figures: 26
Quantum computing is moving from the laboratory into industry. Quantum computers use superposition, entanglement and interference to solve some classes of problem far more efficiently than classical machines. The main examples are simulating molecules and materials, certain optimisation and sampling problems, linear-algebra workloads in finance and machine learning, and cryptanalysis. Seven main hardware approaches are competing: superconducting circuits, trapped ions, neutral atoms, photonics, silicon spin qubits, quantum annealing and topological qubits. Each has different strengths in qubit quality (fidelity), speed, connectivity and how easily it can be manufactured, and none has yet shown every property needed for large-scale fault tolerance.
The industry now has the structure of a mature technology market. Leading developers such as IonQ, Quantinuum, D-Wave, Rigetti, IQM, Pasqal and Xanadu are publicly listed. Dedicated quantum foundries are making qubit chips on 200 mm and 300 mm wafers. Governments have become customers and shareholders through the US CHIPS Act, the UK’s ProQure programme, EuroHPC, Canada’s Quantum Champions Program and China’s 15th Five-Year Plan. Consolidation is also under way. IonQ’s acquisitions, D-Wave’s purchase of Quantum Circuits and Intel’s agreement to acquire Classiq show hardware leaders building full-stack businesses.
Today, government R&D contracts, cloud access and system sales to national laboratories and supercomputing centres account for most activity. The decisive variable for the next decade is fault tolerance. This means machines that run logical qubits under real-time error correction. IBM, Quantinuum, Google, PsiQuantum and the neutral-atom leaders all target it before the end of the decade. Error-correction codes such as qLDPC, cat qubits and erasure qubits are cutting the number of physical qubits each logical qubit needs. Cryogenic CMOS control, on-chip control electronics and foundry manufacturing are addressing the scaling bottlenecks.
Quantum processors will act as accelerators alongside GPUs and CPUs in high-performance computing (HPC) and AI data centres, linked through platforms such as NVIDIA’s NVQLink and CUDA-Q. The earliest commercial advantage is expected in chemistry and materials simulation, followed by pharmaceuticals, finance, logistics and energy. Over time, demand is expected to shift from governments and research centres towards commercial users.
Constraints remain significant. Helium-3 and dilution-refrigerator capacity are limited, enriched silicon-28 and specialist lasers depend on a few suppliers, and there is a talent shortage. Error correction must still be proven at scale. A future machine able to break today’s public-key encryption is already driving a global migration to post-quantum cryptography.
The Global Quantum Computing Market 2027–2037 is an in-depth analysis of the technologies, companies and economics of quantum computing over the decade in which the industry moves from noisy intermediate-scale machines to fault-tolerant systems. It draws on primary interviews, company filings, government procurement data and developments tracked to November 2026. The report gives a full ten-year total addressable market (TAM) for quantum computing products and services in conservative, base and optimistic scenarios. The scenarios mainly reflect different assumptions about when fault tolerance arrives and how fast enterprises adopt it.
Forecasts are segmented in five ways:
- by qubit modality and computational approach;
- by product category: systems, QPUs (quantum processing units) and subsystems, cloud access, software, professional services, R&D contracts and support;
- by ten end-use groups;
- by four regions and 17 countries;
- by a five-tier device classification, from entry and education systems to large-scale fault-tolerant machines, with units shipped, average selling prices and installed base.
A separate forecast sizes the enabling supply chain: cryogenics, control electronics, photonics, interconnects, foundry services and materials.
Beyond the forecasts, the report:
- assesses technology readiness by modality, by component and by application;
- compares vendor roadmaps and the expected timing of quantum advantage;
- analyses routes to market, business models, pricing and public procurement channels;
- identifies the main market opportunities;
- examines competitive positioning, consolidation, supply-chain risks and challenges.
The report concludes with 303 detailed company profiles covering hardware developers across every modality, technology majors, enabling hardware and component suppliers, software and services companies, and quantum networking and quantum-safe firms. Each profile sets out key facts, technology, recent developments, funding history and a Future Markets view of the company’s strategic significance.
Report contents
- Executive summary and key findings
- Research scope, segmentation framework, methodology and scenario assumptions
- The 2026 market: investment, listings, M&A, government programmes and recent developments
- Technologies: gate-based, annealing, analog and photonic approaches; qubit modality comparison; quantum error correction and logical qubits; hybrid quantum–HPC integration
- Technology readiness assessment by modality, subsystem and application
- Device tier segmentation: shipments, average prices and installed base, including installed logical qubits
- Hardware supply chain and enabling technologies, with risk analysis
- Software, middleware, cloud and services
- Routes to market, business models, pricing and public procurement
- End-use markets and market opportunities, by industry
- Regional and country markets
- Ten-year forecasts by modality, computational approach, product category, end use, region and tier in three scenarios, with sensitivity analysis
- Competitive landscape, M&A and vendor positioning
- Challenges, risks and SWOT analysis
- 303 company profiles including A*Quantum, AbaQus, Absolut System, Adaptive Finance Technologies, Aegiq, AetherQ Labs, Airbus, Aires Applied Quantum Technology, Algorithmiq, Alice & Bob, Alpine Quantum Technologies, Amazon Web Services (AWS), AMD, Anametric, Anderon, Anyon Systems, Anyon Technologies, Aqarios, AQSolotl, Aquark Technologies, Archer Materials, Arclight Quantum, Arctic Instruments, ARQUE Systems, Artificial Brain, Atlantic Quantum, Atom Computing, Atom Quantum Labs, Atomic Cubit, Atomionics, Atos Quantum (Bull), Baidu, BEIT, Bifrost Electronics, Bloq Quantum, Bluefors, blueqat, BlueQubit, BosonQ Psi, Bright Quantum, C12 Quantum Electronics, CAS Cold Atom, Casimir, CavilinQ, CDimension, Chiral Nano AG, Classiq Technologies, ColibrITD, Commutator Studios, Conductor Quantum, Cortical Labs, Covesion, Crystal Quantum Computing, D-Wave Quantum, Delft Circuits, Diatope, Diraq, EeroQ, Element Six, eleQtron, Entropica Labs, Ephos, Equal1, esoteriq, Falqon Systems, First Quantum, Inc., FirstQFM, Foqus Technologies, FrostByte, Fujitsu, GenMat (Quantum Generative Materials), Good Chemistry, Google Quantum AI, Groove Quantum, Haiqu, Hefei Wanzheng Quantum Technology, Hitachi, Horizon Quantum Computing, HQS Quantum Simulations, HRL Laboratories, Huayi Quantum, IBM Quantum, Iceberg Quantum, Icosa Computing, Infineon Technologies, InfinityQ Technology, Infleqtion, Intel, IonQ, IQM Quantum Computers, Isotec, JiJ Inc., JoS QUANTUM, Kelvin Quantum and more.....
Purchasers will receive the following:
- PDF report download/by email.
- Comprehensive Excel spreadsheet of all data.
- Mid-year Update
Payment methods: Visa, Mastercard, American Express, Paypal, Bank Transfer. To order by Bank Transfer (Invoice) select this option from the payment methods menu after adding to cart, or use the Request a quote/Pay by invoice button or contact info@futuremarketsinc.com
1. Executive Summary 15
- 1.1 Key findings 16
- 1.2 Market at a glance 17
- 1.3 What changed in 2026 17
2. Research Scope, Definitions and Methodology 19
- 2.1 Scope 19
- 2.2 Market definition and segmentation 19
- 2.3 Forecasting methodology 20
- 2.4 Sources 20
3. The Quantum Computing Market in 2026 21
- 3.1 From laboratory to industry 21
- 3.2 Investment 21
- 3.3 Government programmes and industrial policy 23
- 3.4 Recent developments shaping the outlook (October–November 2026) 25
- 3.5 Revenue landscape of listed companies 25
4. Quantum Computing Technologies and Approaches 27
- 4.1 Principles 27
- 4.2 Qubit modalities 28
- 4.2.1 Superconducting qubits 28
- 4.2.2 Trapped ions 28
- 4.2.3 Neutral atoms 29
- 4.2.4 Photonic qubits 29
- 4.2.5 Silicon spin qubits 29
- 4.2.6 Topological, NV-diamond and other modalities 29
- 4.2.7 Quantum annealing 29
- 4.3 Quantum error correction and logical qubits 30
- 4.4 Hybrid quantum–classical computing and HPC integration 32
- 4.5 Market players by modality and segment 32
5. Technology Readiness Assessment 35
- 5.1 Assessment framework 35
- 5.2 Hardware readiness by modality 36
- 5.2.1 Superconducting 37
- 5.2.2 Trapped ion 37
- 5.2.3 Neutral atom 37
- 5.2.4 Photonic 37
- 5.2.5 Silicon spin, NV-diamond and topological 37
- 5.2.6 Quantum annealing 37
- 5.3 Readiness of enabling subsystems 38
- 5.4 Software and integration readiness 38
- 5.5 Application readiness and the timing of quantum advantage 39
- 5.6 Benchmarks and metrics 41
- 5.7 Readiness timeline 41
- 5.8 Milestones that would shift the forecast between scenarios 42
6. Device Tier Segmentation 43
- 6.1 Tier definitions 43
- 6.2 Tier characteristics 43
- 6.3 Tier positioning by modality 44
- 6.4 Shipments by tier 44
- 6.5 Average selling prices by tier 45
- 6.5.1 Price drivers 46
- 6.6 System revenue by tier 46
- 6.7 Installed base 48
- 6.7.1 Installed logical qubits 49
- 6.8 Tier demand by buyer type 49
- 6.9 Tier forecasts by scenario 50
7. Hardware Supply Chain and Enabling Technologies 51
- 7.1 Cryogenics 52
- 7.2 Control electronics 52
- 7.3 Photonics and lasers 52
- 7.4 Foundries and manufacturing 53
- 7.5 Enabling supply-chain market forecast 53
8. Software, Middleware, Cloud and Services 56
- 8.1 The quantum software stack 56
- 8.1.1 Development platforms and SDKs 56
- 8.1.2 Error suppression and mitigation 57
- 8.1.3 Quantum error correction software and decoders 57
- 8.1.4 Control, calibration and characterisation software 57
- 8.1.5 Application software 57
- 8.2 Cloud access and quantum computing as a service 57
- 8.3 Professional services and the consulting channel 59
- 8.4 Quantum–HPC integration software 59
- 8.5 Quantum–AI convergence 60
- 8.6 Quantum-inspired software (adjacent) 60
- 8.7 Outlook for software and services 60
9. Routes to Market and Business Models 61
- 9.1 Routes to market 61
- 9.1.1 Cloud access 62
- 9.1.2 On-premises system sales 62
- 9.1.3 QPU and subsystem (OEM) sales 63
- 9.1.4 NRE and government R&D contracts 63
- 9.1.5 Software and services 63
- 9.2 Business models 63
- 9.2.1 The full-stack model and verticalisation 64
- 9.2.2 The specialist and partnership model 64
- 9.2.3 Revenue model comparison 64
- 9.3 Pricing 64
- 9.3.1 Evolution of pricing models 65
- 9.4 Public procurement channels 65
- 9.4.1 Procurement criteria 66
- 9.5 Channel partnerships and alliances 66
- 9.6 Regional go-to-market considerations 66
- 9.7 Sales cycles and go-to-market lessons 67
10. End-Use Markets and Market Opportunities 68
- 10.1 End-use overview 68
- 10.2 Pharmaceuticals and life sciences 72
- 10.2.1 Workloads 72
- 10.2.2 Current activity 72
- 10.2.3 Adoption outlook 72
- 10.3 Chemicals and advanced materials 72
- 10.3.1 Workloads 72
- 10.3.2 Current activity 72
- 10.3.3 Adoption outlook 72
- 10.4 Financial services and insurance 73
- 10.4.1 Workloads 73
- 10.4.2 Current activity 73
- 10.4.3 Adoption outlook 73
- 10.5 Government, defence and national laboratories 73
- 10.5.1 Workloads 73
- 10.5.2 Current activity 73
- 10.5.3 Adoption outlook 73
- 10.6 Academic research and HPC centres 73
- 10.6.1 Workloads 73
- 10.6.2 Current activity 74
- 10.6.3 Adoption outlook 74
- 10.7 Automotive, aerospace and manufacturing 74
- 10.7.1 Workloads 74
- 10.7.2 Current activity 74
- 10.7.3 Adoption outlook 74
- 10.8 Logistics and transportation 74
- 10.8.1 Workloads 74
- 10.8.2 Current activity 74
- 10.8.3 Adoption outlook 74
- 10.9 Energy and utilities 75
- 10.9.1 Workloads 75
- 10.9.2 Current activity 75
- 10.9.3 Adoption outlook 75
- 10.10 IT, cloud and telecommunications 75
- 10.10.1 Workloads 75
- 10.10.2 Current activity 75
- 10.10.3 Adoption outlook 75
- 10.11 Market opportunities 75
- 10.11.1 Opportunities by value-chain position 76
- 10.11.2 Opportunity attractiveness by end-use group 77
- 10.12 Quantum risk to supply chains 77
11. Regional Markets 78
- 11.1 North America 80
- 11.2 Europe 81
- 11.3 Asia-Pacific 81
- 11.4 Rest of World 81
12. Market Forecasts 2027–2037 82
- 12.1 Total market 82
- 12.2 By approach: qubit modality 83
- 12.3 By computational approach 86
- 12.4 By product category 88
- 12.5 By end-use group 90
- 12.6 By region 91
- 12.7 Tier-level device forecasts by scenario 94
- 12.8 Cross-segment view, 2037 95
- 12.9 Adjacent markets (not included in the TAM) 96
- 12.10 Forecast sensitivities 96
13. Competitive Landscape 98
- 13.1 Market structure 98
- 13.2 Leading vendors 99
- 13.3 Competition by modality 100
- 13.4 Competition by value-chain layer 100
- 13.5 Listed-company landscape 101
- 13.6 Mergers, acquisitions and strategic transactions 101
- 13.6.1 M&A themes 102
- 13.7 Key success factors 102
- 13.8 Competitive positioning 102
14. Challenges, Risks and SWOT 104
- 14.1 Overview of key challenges 104
- 14.2 Technical challenges 104
- 14.2.1 Error correction at scale 104
- 14.2.2 Scaling, wiring and integration 104
- 14.2.3 Classical co-processing 105
- 14.3 Commercial challenges 105
- 14.3.1 Proving value 105
- 14.3.2 Revenue concentration in the public sector 105
- 14.3.3 Pricing pressure and commoditisation 105
- 14.4 Supply-chain risks 105
- 14.5 Financial and market risks 105
- 14.6 Geopolitical and regulatory risks 106
- 14.7 Talent and workforce 106
- 14.8 Risk assessment matrix 106
- 14.9 SWOT analysis 106
- 14.10 Outlook 107
15. Company Profiles 108 (303 company profiles)
16. Appendix 767
- 16.1 Abbreviations 767
- 16.2 Companies profiled 767
- 16.3 Index of company profiles 768
List of Tables
- Table 1. Global quantum computing market: headline indicators, 2027–2037 17
- Table 2. Segmentation framework used in this report 19
- Table 3. Scenario assumptions 20
- Table 4. Major quantum computing financings, listings and M&A, 2025–2026 22
- Table 5. Government programmes most relevant to quantum computing procurement, 2026 24
- Table 6. Selected developments, October–November 2026 25
- Table 7. Computational approaches to quantum computing 27
- Table 8. Comparison of qubit modalities, 2026 28
- Table 9. Error-correction approaches and overheads 30
- Table 10. Vendor roadmaps: stated system milestones 31
- Table 11. Data-centre readiness by modality, 2026 32
- Table 12. Profiled companies by primary activity (section number in Section 15) 32
- Table 13. Technology readiness levels as applied to quantum computing 35
- Table 14. Commercial readiness index (CRI) used in this report 35
- Table 15. Technology and commercial readiness by modality, 2026 and expected 2030 36
- Table 16. Readiness of enabling subsystems, 2026 38
- Table 17. Software and integration readiness, 2026 38
- Table 18. Levels of quantum advantage 39
- Table 19. Application readiness and resource requirements 40
- Table 20. Key performance metrics for quantum computers 41
- Table 21. Expected readiness milestones, base case 41
- Table 22. Milestones that would shift the forecast between scenarios 42
- Table 23. Quantum computer device tiers: definitions 43
- Table 24. Physical and operational characteristics by tier 43
- Table 25. Where each modality competes, 2027–2037 44
- Table 26. Quantum computer systems shipped by tier, base case, 2027–2037 (units) 44
- Table 27. Average selling price by tier, base case (US$ millions per system) 45
- Table 28. System revenue by tier, base case, 2027–2037 (US$ millions) 46
- Table 29. Share of system revenue by tier, base case 47
- Table 30. Installed base of quantum computers by tier, including vendor-operated cloud systems, base case (units) 48
- Table 31. Indicative share of tier shipments by buyer type, 2027–2037 average 49
- Table 32. Tier-level shipments and system revenue by scenario 50
- Table 33. Critical inputs by modality 51
- Table 34. Enabling supply chain for quantum computing, base case, 2027–2037 (US$ millions; non-additive to TAM) 53
- Table 35. Enabling supply chain by scenario (US$ millions) 54
- Table 36. Supply-chain risks and mitigations 54
- Table 37. Quantum software stack: layers, functions and representative companies 56
- Table 38. Software segment characteristics 57
- Table 39. Cloud access models 58
- Table 40. Major quantum cloud platforms, 2026 58
- Table 41. Software, cloud and service revenue, base case (US$ millions) 58
- Table 42. Cloud and software revenue by scenario (US$ millions) 59
- Table 43. Professional services offerings 59
- Table 44. Routes to market for quantum computing 61
- Table 45. Quantum computing revenue by route to market (product category), base case (US$ millions) 62
- Table 46. Business models in quantum computing 63
- Table 47. Revenue characteristics by business model 64
- Table 48. Indicative pricing benchmarks, 2026 64
- Table 49. Expected evolution of pricing models 65
- Table 50. Major public procurement and funding channels 65
- Table 51. Selected strategic partnerships shaping go-to-market 66
- Table 52. Go-to-market by region 66
- Table 53. End-use markets, quantum-addressable workloads and timing 68
- Table 54. Quantum computing market by end-use group, base case, 2027–2037 (US$ millions) 69
- Table 55. End-use share of the quantum computing market, base case 70
- Table 56. End-use groups by scenario: 2037 revenue (US$ millions) and CAGR 2027–2037 71
- Table 57. Principal market opportunities, 2027–2037 75
- Table 58. Where the opportunities sit in the value chain 76
- Table 59. Opportunity attractiveness by end-use group 77
- Table 60. Quantum computing market by region, base case, 2027–2037 (US$ millions) 78
- Table 61. Quantum computing market by country / sub-region, base case (US$ millions) 79
- Table 62. Regional markets by scenario: 2037 revenue (US$ millions) and CAGR 2027–2037 80
- Table 63. Global quantum computing market by scenario, 2027–2037 (US$ millions) 82
- Table 64. Year-on-year growth by scenario 82
- Table 65. Quantum computing market by modality, conservative scenario, 2027–2037 (US$ millions) 83
- Table 66. Quantum computing market by modality, base scenario, 2027–2037 (US$ millions) 84
- Table 67. Quantum computing market by modality, optimistic scenario, 2027–2037 (US$ millions) 85
- Table 68. Modality comparison across scenarios: 2037 revenue (US$ millions) and CAGR 2027–2037 85
- Table 69. Quantum computing market by computational approach, conservative scenario (US$ millions) 86
- Table 70. Quantum computing market by computational approach, base scenario (US$ millions) 86
- Table 71. Quantum computing market by computational approach, optimistic scenario (US$ millions) 87
- Table 72. Quantum computing market by product category, conservative scenario (US$ millions) 88
- Table 73. Quantum computing market by product category, base scenario (US$ millions) 88
- Table 74. Quantum computing market by product category, optimistic scenario (US$ millions) 88
- Table 75. Products versus services by scenario (US$ millions) 89
- Table 76. Product categories across scenarios: 2037 revenue (US$ millions) and CAGR 90
- Table 77. Quantum computing market by end-use group, conservative scenario (US$ millions) 90
- Table 78. Quantum computing market by end-use group, optimistic scenario (US$ millions) 91
- Table 79. Quantum computing market by region, conservative scenario (US$ millions) 91
- Table 80. Quantum computing market by region, optimistic scenario (US$ millions) 92
- Table 81. Quantum computing market by country / sub-region, conservative scenario (US$ millions) 92
- Table 82. Quantum computing market by country / sub-region, base scenario (US$ millions) 93
- Table 83. Quantum computing market by country / sub-region, optimistic scenario (US$ millions) 93
- Table 84. Systems shipped by tier, conservative scenario (units) 94
- Table 85. System revenue by tier, conservative scenario (US$ millions) 94
- Table 86. Systems shipped by tier, optimistic scenario (units) 94
- Table 87. System revenue by tier, optimistic scenario (US$ millions) 95
- Table 88. Cumulative 2027–2037 shipments, revenue and 2037 installed base by tier, base case 95
- Table 89. Indicative 2037 system revenue by modality and tier, base case (US$ millions) 95
- Table 90. Indicative 2037 revenue by region and product category, base case (US$ millions) 96
- Table 91. Quantum-inspired computing market (US$ millions; Future Markets, The Global Quantum Technologies Market 2026–2036) 96
- Table 92. Sensitivity of 2037 base-case market to key assumptions 96
- Table 93. Competitive tiers in the quantum computing market 98
- Table 94. Expected evolution of market concentration 98
- Table 95. Leading quantum computing companies: positioning, late 2026 99
- Table 96. Competitive dynamics by modality 100
- Table 97. Competitive intensity by value-chain layer 100
- Table 98. Listed quantum computing companies, late 2026 101
- Table 99. Mergers, acquisitions and strategic transactions shaping the market, 2024–2026 101
- Table 100. Key success factors and leading performers 102
- Table 101. Competitive positioning matrix (Future Markets assessment) 102
- Table 102. Key challenges for the quantum computing market 104
- Table 103. Supply-chain risks and mitigations 105
- Table 104. Risk likelihood and impact, 2027–2037 106
- Table 105. SWOT analysis: global quantum computing market 106
- Table 106. Index of company profiles 768
List of Figures
- Figure 1. Global quantum computing market, 2027–2037: conservative, base and optimistic scenarios (US$ billions) 16
- Figure 2. Quantum technology investment, 2012–2026 YTD (US$ billions) 22
- Figure 3. Quantum technology investment by subsector, 2025 (US$ billions) 22
- Figure 4. Selected government quantum commitments (US$ billions, approximate) 24
- Figure 5. Selected vendor fault-tolerance and system roadmap milestones 31
- Figure 6. Technology readiness of quantum computing modalities, 2026 36
- Figure 7. Use-case readiness matrix by application area and period (base case) 40
- Figure 8. Quantum computer systems shipped by tier, base case (units) 45
- Figure 9. Average selling price by tier, base case (US$ millions, log scale) 46
- Figure 10. System revenue by tier, base case (US$ billions) 47
- Figure 11. Installed base by tier (Tier 2–5), including vendor-operated cloud systems, base case 48
- Figure 12. Installed logical qubits on Tier 4–5 systems, base case 49
- Figure 13. Quantum computing value chain 51
- Figure 14. Enabling supply chain sales into quantum computing, base case (US$ billions) 54
- Figure 15. Revenue mix by route to market (product category), base case, 2026–2037 (% of total) 62
- Figure 16. Quantum computing market by end-use group, base case (US$ billions) 70
- Figure 17. Growth by end-use group, base case CAGR 2027–2037 71
- Figure 18. Quantum computing market by region, base case (US$ billions) 78
- Figure 19. Quantum computing market by country / sub-region, 2027 and 2037, base case (US$ billions) 80
- Figure 20. Global quantum computing market by scenario, 2027–2037 (US$ billions) 83
- Figure 21. Quantum computing market by modality, base case (US$ billions) 84
- Figure 22. Modality share of the quantum computing market, base case 85
- Figure 23. Scenario range of 2037 revenue by modality (US$ billions) 86
- Figure 24. Quantum computing market by computational approach, base case (US$ billions) 87
- Figure 25. Quantum computing market by product category, base case (US$ billions) 89
- Figure 26. Products versus services, base case (US$ billions) 90
Purchasers will receive the following:
- PDF report download/by email.
- Comprehensive Excel spreadsheet of all data.
- Mid-year Update
Payment methods: Visa, Mastercard, American Express, Paypal, Bank Transfer. To order by Bank Transfer (Invoice) select this option from the payment methods menu after adding to cart, or use the Request a quote/Pay by invoice button or contact info@futuremarketsinc.com