Quantum computing
Machines that compute with qubits, rented over the cloud or sold on-premises — US$1.4B in 2025, ~30%/yr growth forecast
Quantum computing companies build computers that process information with qubits (superconducting circuits, trapped ions, photons, neutral atoms, or annealers) and sell access to them as systems, cloud time and software. Buyers are mainly governments, national labs, universities and large firms testing chemistry, materials, optimization and cryptography problems. QED-C estimates the global quantum computing market at US$1.4 billion in 2025, and it forecasts growth of about 30% a year to more than US$3 billion by 2028. Growth is driven by record government commitments and venture capital, but no maker has yet shown an advantage on a business-relevant problem.
new market · sits inside NAICS 334111, 518210, 541715 · researched 2026-11-14
global revenue · world1.4
↗USD billions · 2025
global revenue (all quantum technologies: computing $1.4B + sensing $470M) · world1.9
↗USD billions · 2025
investment (new private venture capital, all quantum) · world4.9
↗USD billions · 2025
investment (new government funding commitments, all quantum) · world12.7
↗USD billions · 2025
G
Growth
Dated and sourced; forecasts are labelled as forecasts.
- 2026-04FORECAST (QED-C, Apr 2026): the quantum computing market is projected to grow about 30% a year, from an estimated $1.4B in 2025 to more than $3B by 2028. QED-C projects on-premises systems will become the largest segment by 2028. ↗
- 2026-04QED-C (Apr 2026): new private venture capital in quantum reached $4.9B in 2025, up 192% from 2024. New government funding commitments reached $12.7B, up 310%. ↗
- 2026-03IonQ's revenue went from US$43.07M in 2024 to US$130.02M in 2025, per its 10-K XBRL data. D-Wave's went from US$8.83M to US$24.59M over the same years. ↗
- 2026-04QED-C survey (Apr 2026): 37% of quantum computing companies expect 2026 revenue growth above 25%, and none expect revenue to fall. ↗
S
Segments
Each linked segment has its own page with its companies.
- Superconducting quantum computers 4 — Chips cooled to near absolute zero (IBM, Google Quantum AI, Rigetti, IQM, Alice & Bob, Anyon, Nord Quantique)
- Trapped-ion quantum computers 2 — Charged atoms held by electromagnetic fields (IonQ, Quantinuum, AQT)
- Photonic quantum computers 3 — Qubits carried by light, built on semiconductor fabs (PsiQuantum, Xanadu); Photonic Inc. pairs silicon spin qubits with optical links
- Neutral-atom quantum computers 2 — Arrays of atoms held by lasers (QuEra, Atom Computing, Pasqal)
- Quantum annealing — Special-purpose machines for optimization problems (D-Wave, founded in BC)
- Quantum cloud access & software 4 — Pay-per-use access to many vendors' machines plus SDKs (Amazon Braket, IBM Quantum Platform/Qiskit)
C
Leading companies in quantum computing
15 companies, with the scale each source states.
| Company | Where | What they do | Scale |
|---|---|---|---|
| IonQ IONQ ↗ | College Park, United States since 2015 | Trapped-ion quantum computers and software, plus quantum networking (Qubitekk) and a controlling stake in ID Quantique | revenue: 130.016 USD millions (2025) ↗ |
| Quantinuum QNT ↗ | Broomfield, United States since 2021 | H-Series trapped-ion computers plus quantum software; formed from Honeywell Quantum Solutions and Cambridge Quantum; Nasdaq IPO June 2026 (Honeywell keeps 48.1% of votes) | revenue (9 months to 2026-09-30): 22.285 USD millions (2026) ↗ |
| IBM Quantum IBM ↗ | United States | Superconducting transmon processors, available through the IBM Quantum Platform cloud (launched 2016) and the Qiskit SDK | — |
| Google Quantum AI GOOGL ↗ | Goleta, United States since 2012 | Superconducting processors (Willow, Sycamore) and error-correction research toward large-scale machines | — |
| D-Wave Quantum QBTS ↗ | Palo Alto, United States since 1999 | Quantum annealers (Advantage, Advantage2) sold via cloud and on-prem; founded in BC with major Burnaby operations; bought Quantum Circuits Inc. (gate-model) Jan 2026; HQ moving to Boca Raton by end-2026 | revenue: 24.587 USD millions (2025) ↗ |
| Rigetti Computing RGTI ↗ | Berkeley, United States since 2013 | Superconducting quantum integrated circuits, sold through its own cloud and through Amazon Braket | revenue: 7.088 USD millions (2025) ↗ |
| PsiQuantum ↗ | Palo Alto, United States since 2016 | Fault-tolerant photonic quantum computers made in silicon-photonics fabs; first systems planned in Australia (A$940M Commonwealth/Queensland package) and at the Illinois Quantum and Microelectronics Park; raised a $1B Series E | employees: 500 employees (500+) (2026) ↗ |
| Xanadu Quantum Technologies XNDU (TSX, Nasdaq) ↗ | Toronto, Canada since 2016 | Photonic quantum computers accessed over the cloud, plus open-source software for quantum machine learning and photonic simulation; Canadian Quantum Champion (up to C$23M); C$893M facility and manufacturing expansion | — |
| Photonic Inc. ↗ | Canada | Distributed quantum computing with silicon spin qubits and optical photonic interconnects ('Entanglement First' architecture); works with Microsoft; Canadian Quantum Champion (up to C$23M) | — |
| Nord Quantique ↗ | Canada | Canadian-headquartered developer of fault-tolerant quantum computers; Canadian Quantum Champion (up to C$23M, Dec 2025) | — |
| Anyon Systems ↗ | Canada | Canadian-headquartered quantum computer maker; Canadian Quantum Champion (up to C$23M, Dec 2025) | — |
| QuEra Computing ↗ | Boston, United States since 2018 | Neutral-atom (Rydberg) quantum computers from Harvard/MIT research; its 256-qubit Aquila has been on Amazon Braket since 2022 | — |
| Atom Computing ↗ | Berkeley, United States since 2018 | Neutral-atom quantum computers; commercial operations in Boulder, Colorado | — |
| Alice & Bob ↗ | Paris, France since 2020 | Superconducting 'cat qubit' architecture focused on quantum error correction; also based in Boston; selected for France's PROQCIMA program | employees: 110 employees ↗ |
| Amazon Braket (AWS) AMZN ↗ | United States | Cloud marketplace for quantum hardware: superconducting (IQM, Rigetti), trapped-ion (AQT, IonQ) and neutral-atom (QuEra) devices, plus simulators and reserved capacity (Braket Direct) | — |
CA
In Canada
- 2023-01The National Quantum Strategy launched January 13, 2023 with C$360M from Budget 2021: C$141M for research, C$45M for talent and C$169M for commercialization. Its missions are computing, communications and sensors. ↗
- 2025-12Phase 1 of the Canadian Quantum Champions Program commits up to C$92M, up to C$23M each for Anyon Systems, Nord Quantique, Photonic and Xanadu. The money comes from C$334.3M over five years in Budget 2025, and the NRC's Benchmarking Quantum Platform will assess each company's progress. ↗
- 2026-08Ottawa invests C$195M through the Strategic Response Fund in Xanadu's C$893M project to expand its R&D facility and set up quantum manufacturing in Toronto. The project is expected to create 275 jobs. ↗
- 2025-12PROJECTION (ISED): Canada's quantum sector is projected to contribute C$17.7B to GDP and more than 157,000 jobs by 2045. ISED also says D-Wave, founded in Canada, keeps significant operations in BC, and it names 1QBit, Open Quantum Design and Q-Block Computing as other Canadian players. ↗
R
What would have to be true
- Demand depends on someone showing quantum advantage on a business-relevant problem. QED-C ties its faster-growth case to that, and the CQCP pays only for progress toward a logical qubit and fault tolerance.
- Dependence on government funding: 54% of QED-C survey respondents see some probability of a 'quantum winter' (R&D investment falling more than 25%) by 2031.
- Losses are deep relative to revenue (IonQ: US$130M revenue vs US$510.4M net loss in 2025; D-Wave: US$24.6M vs US$355M), so the sector relies on equity raises that can dilute shareholders.
- Many competing qubit technologies (superconducting, ion, photonic, neutral-atom, annealing) mean suppliers and investors may back an approach that loses.
Quick answers
- How big is the quantum computing market?
- global revenue (world): 1.4 USD billions, 2025 — Quantum Economic Development Consortium (QED-C) / SRI International; global revenue (all quantum technologies: computing $1.4B + sensing $470M) (world): 1.9 USD billions, 2025 — QED-C.
- Is the quantum computing market growing?
- FORECAST (QED-C, Apr 2026): the quantum computing market is projected to grow about 30% a year, from an estimated $1.4B in 2025 to more than $3B by 2028. QED-C projects on-premises systems will become the largest segment by 2028.
- Who are the leading quantum computing companies?
- IonQ (United States), Quantinuum (United States), IBM Quantum (United States), Google Quantum AI (United States), D-Wave Quantum (United States), Rigetti Computing (United States), PsiQuantum (United States), Xanadu Quantum Technologies (Canada), and 7 more in the table above.
- Which quantum computing companies are publicly traded?
- IonQ (IONQ), Quantinuum (QNT), D-Wave Quantum (QBTS), Rigetti Computing (RGTI), Xanadu Quantum Technologies (XNDU (TSX, Nasdaq)).
- Which Canadian companies are in quantum computing?
- Xanadu Quantum Technologies, Toronto; Photonic Inc.; Nord Quantique; Anyon Systems.
- What is happening with quantum computing in Canada?
- The National Quantum Strategy launched January 13, 2023 with C$360M from Budget 2021: C$141M for research, C$45M for talent and C$169M for commercialization. Its missions are computing, communications and sensors.
- What are the main segments of the quantum computing market?
- Superconducting qubits, Trapped-ion, Photonic, Neutral-atom, Quantum annealing, Cloud access & software.
- What are the risks in the quantum computing market?
- Demand depends on someone showing quantum advantage on a business-relevant problem. QED-C ties its faster-growth case to that, and the CQCP pays only for progress toward a logical qubit and fault tolerance.
Sources (24)
- 2026 Market Forecast: Quantum Computing — Quantum Economic Development Consortium (QED-C) / SRI International
- State of the Global Quantum Industry 2026 — QED-C / SRI International
- Global Quantum Computing Market to Double by 2028, Reaching $3 Billion in Revenue — QED-C
- Government of Canada launches National Quantum Strategy — ISED Canada
- Minister Solomon announces major new quantum initiative — ISED Canada
- Government of Canada invests in Xanadu to build up advanced quantum manufacturing in Canada — ISED Canada
- IonQ, Inc. XBRL company facts — U.S. SEC
- D-Wave Quantum Inc. XBRL company facts — U.S. SEC
- Rigetti Computing XBRL company facts — U.S. SEC
- Quantinuum Inc. XBRL company facts — U.S. SEC
- Quantinuum Inc. filer record (business address) — U.S. SEC
- Amazon Braket — Amazon Web Services
- Distributed Quantum Computing at Scale — Photonic Inc.
- IonQ — Wikipedia
- Quantinuum — Wikipedia
- D-Wave Systems — Wikipedia
- Rigetti Computing — Wikipedia
- PsiQuantum — Wikipedia
- Xanadu Quantum Technologies — Wikipedia
- QuEra Computing — Wikipedia
- Atom Computing — Wikipedia
- Alice & Bob (company) — Wikipedia
- Google Quantum AI — Wikipedia
- IBM Quantum Platform — Wikipedia