Insider Brief
- Resonance’s The Quantum Insider has published its 2024 annual report, highlighting $49 billion in global quantum investments and a projected economic impact of over $200 billion by 2030.
- The quantum market, currently valued at $2 billion, is expected to surpass $5 billion by 2030, driven by QCaaS and quantum security, despite hurdles in scalability and error rates.
- By 2030, the quantum sector is projected to create 250,000 jobs globally, with regional innovation hubs playing a critical role in commercialization and talent development.
Quantum technologies, bolstered by over $49 billion in public and private investments globally, are projected to generate more than $200 billion in economic value by 2030, according to the 2024 annual report from Resonance’s The Quantum Insider.
This rapid evolution is redefining the quantum market landscape, marked by a pivot from exploratory research to commercial applications and regional innovation hubs.
Quantum Investment and R&D Insights
Governments worldwide have committed over $40 billion to quantum initiatives, with top contributors like the United States, the United Kingdom and Germany leading as investors. These nations account for nearly half of all quantum funding and are attempting to seize early mover advantages for the economic and job-creation benefits of quantum, as well as prepare for any national security threats posed by the technology. On the private side, venture capital investments have surged, surpassing $2.4 billion in 2024, driven by notable rounds like PsiQuantum’s $617 million funding.
Quantum research and development is an important – and perhaps, obvious – focus, with $1.3 billion in annual private R&D fueling innovations in gate fidelity, scalability, and error correction. IBM and D-Wave stand out as leaders in patent efficiency, demonstrating high outputs relative to R&D spending. However, the market still faces challenges in achieving viable Noisy Intermediate-Scale Quantum (NISQ) systems, with fidelity rates only recently nearing the 99.9% threshold required for broader utility.
Commercialization Shifts and Emerging Opportunities
The quantum market is projected to grow from its current valuation of $2 billion to over $5 billion by 2030, led by hardware and Quantum Computing as a Service (QCaaS). QCaaS, the fastest-growing segment, is expected to expand at a 62% compound annual growth rate (CAGR), with 2,800 companies anticipated to adopt it by the end of the decade. Despite this optimism, quantum hardware deals have plateaued, with average deal sizes declining due to new entrants focusing on smaller systems.
Quantum security and sensing also present significant opportunities. The quantum security market is forecast to grow at a 54% CAGR, reaching $9 billion by 2030, driven by the adoption of Post-Quantum Cryptography (PQC). Meanwhile, quantum sensing, with applications in healthcare, defense, and environmental monitoring, is expected to double its market value to $800 million over the same period.
Regional Hubs and Strategic Alignments
The report highlights a growing trend toward regional quantum innovation hubs, which integrate government, academic and corporate stakeholders to drive localized economic impact. The United States, for example, has launched state-level initiatives – such as in South Carolina and Colorado – often supported by federal funding. Internationally, nations like South Korea and Japan are pursuing ambitious quantum strategies, emphasizing domestic capabilities and global partnerships.
These hubs are seen as vital for nurturing talent and fostering long-term commercialization. By 2030, the quantum economy is expected to create 250,000 jobs globally, with a focus on roles spanning research, engineering, and commercial development.
Challenges and the Path Forward
While the quantum sector is brimming with potential, scalability and high error rates remain significant technical hurdles. The plateauing of large hardware deals and reliance on exploratory projects also present revenue forecasting challenges for vendors. Despite these barriers, advancements in hybrid quantum-classical systems and co-design approaches are paving the way for production-grade applications.
Looking ahead, the report underscores the transformative potential of quantum technologies across industries, from finance and healthcare to energy and manufacturing. As regional ecosystems mature and commercialization accelerates, quantum is poised to become a cornerstone of the next technological revolution.
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