Quantum computing market projected to grow to $4 billion within five years Big Tech and startups push quantum computing development in parallel Commercialization could surpass the limits of classical computers
Quantum computing is emerging as the next major growth driver for the tech industry. U.S. Big Tech firms leading the global market, along with startups worldwide, are pushing ahead with aggressive investments to secure early dominance.
BoA Presents Optimistic Outlook on Quantum Computing
According to CNBC on the 25th (local time), Bank of America (BoA) Research, led by analyst Wamsi Mohan, projected in a recent report that the quantum computing market will expand from about $300 million last year to around $4 billion by 2030. The report stated, “The potential of quantum computing is clear, but there are still technical hurdles in the scaling process,” adding that “in the early stages of adoption, gradual deployment and relatively stable pricing are expected.”
BoA further noted that once quantum computing becomes mainstream, an on-demand infrastructure based on the “pay-as-you-go” model is likely to emerge. The report highlighted that both pure-play quantum computing firms and major technology companies are intensifying research and development across various areas, including building and operating quantum algorithm platforms, hardware manufacturing, cloud-based hardware access, error correction technology, and the development of new algorithms. These efforts are shaping the foundation of future business models.
Companies currently at the forefront of quantum model research include IBM, Alphabet (Google’s parent company), NVIDIA, and Microsoft. IBM, recognized as the oldest and a pioneering player in the field, is focusing on superconducting qubits and a cloud-first strategy. Alphabet’s Quantum AI division is reportedly working on both hardware and software to build large-scale, error-corrected quantum computers.
Venture Capital Pours Into Quantum Computing
The venture capital sector is also seeing a surge of interest in quantum computing. Finnish company IQM recently raised $320 million in a Series B funding round. Quantinuum, a joint venture led by Honeywell focusing on quantum computer development, announced in a press release on the 4th that it had secured $600 million in funding. U.S.-based quantum information technology firm Infleqtion revealed plans to go public through a SPAC merger, targeting a capital raise of about $540 million.
More recently, Palo Alto–based startup PsiQuantum succeeded in raising $1 billion in a Series E funding round, valuing the company at $7 billion. This marks the largest single investment in the quantum computing sector to date. The funding round was led by BlackRock, Baillie Gifford, and Temasek, with participation from NVentures, the venture capital arm of NVIDIA.
Unlike many other quantum startups, PsiQuantum is developing quantum chips based on photonics technology widely used in the semiconductor industry, rather than relying on exotic materials. The superconducting approach adopted by IBM and Google is highly sensitive to temperature fluctuations and requires massive refrigeration systems to maintain extremely low temperatures. In contrast, photonics-based quantum chips can function at room temperature, offering greater commercial viability. With the new funding, PsiQuantum aims to develop a one-million-qubit quantum computer by 2028—a scale considered the minimum threshold to achieve the commercial goals of quantum computing, with the potential to solve most large-scale industrial challenges.
Why Quantum Computing Matters
Quantum computing is attracting attention because it offers new ways to solve complex problems that conventional computers struggle with. A market expert noted that industries such as finance, healthcare, logistics, and distribution are already exploring its potential applications. In particular, areas like prime factorization, optimization, and molecular simulation—where classical computers require long processing times—are seen as fields where quantum computing’s strengths could stand out.
Another point of interest is the potential synergy between quantum computing and AI. Their interaction can take two forms. In one, AI assists quantum computing by handling complex design and error correction. In the other, quantum computing supports AI by significantly accelerating training through its rapid computational power. At present, the scenario of AI aiding quantum computer development is considered more realistic, as hardware is still in its early stages and most direct applications remain at the simulation level.
However, recent studies have begun to show promising use cases of quantum computers in AI development. Leveraging the exponential speed advantage of quantum systems, researchers are exploring quantum machine learning and quantum neural networks. In one experiment, a quantum computing–based AI model achieved a performance level after just 26 training iterations that