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North America Quantum Computing Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Service), By Deployment (On-Premise and Cloud), By Application (Machine Learning, Optimization, Biomedical Simulations, Financial Services, Electronic Material Discovery, and Others), By End User (Healthcare, Banking, Financial Services and Insurance (BFSI), Automotive, Energy and Utilities, Chemical, Manufacturing, and Others), and Regional Forecast, 2023-2030

Last Updated: July 01, 2024 | Format: PDF | Report ID: FBI107726



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North America is the second largest growing region in the global quantum computing market. It is projected to grow at a CAGR of 32.6% during the forecast period. The global quantum computing market size is projected to grow from USD 717.3 million in 2022 to USD 6,528.8 million by 2030.

The American economy and society have already been altered by quantum-based technologies. With new, more potent approaches to computing, networking, and sensing, Quantum Information Science (QIS) holds promise for another technological revolution. The goal of the government's National Quantum Initiative (NQI) is to keep the U.S. at the forefront of QIS research and technology applications.

Our report on the North America quantum computing market covers the following countries – U.S., Canada, and Mexico.


Rapid Adoption of Quantum Technology in Financial Sector to Aid the North America Quantum Computing Market Growth

In the banking and financial industry, which is focusing on expanding trade activities, transactions, and data processing manifolds, quantum technology is gaining traction. Using next-generation cryptography, quantum technology could help financial services by providing relevant and necessary cybersecurity solutions to protect customers' financial data. Additionally, proactive fraud risk management is made possible by recognizing consumer behavior patterns and using quantum algorithms to identify fraudulent activities.

For instance, in April 2022, IBM and HSBC collaborated for three years to investigate the application of quantum computing to the banking sector. HSBC plans to analyze how quantum figuring can be utilized to find and stop misrepresentation, streamline estimating and portfolios, and progress its net zero objectives.


Integration of Quantum Computers with Machine Learning Algorithms to Surge Product Demand

New algorithms and methods to take advantage of the unique properties of quantum computing are being developed, with the expansion of quantum computers' capabilities. Quantum error correction, quantum optimization algorithms, and quantum machine learning are examples of these. New machine learning and AI algorithms that can take advantage of the unique properties of quantum systems are being developed by researchers using quantum algorithms.

As the technology matures and becomes more accessible, it is likely to be used in industries such as finance and healthcare, for analyzing large amounts of data and making accurate predictions. This is, in turn, estimated to further propel the North America quantum computing market share.


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Quantum Risk to Digital Communication and Public Key Cryptography to Impede Market Growth

Quantum computers' capabilities are being actively pursued by nation-states and private businesses. The possibilities presented by quantum technology are exciting; however, there are risks to the existing cryptographic standards as a result of this new technology.

A shift from present cryptographic technologies to a post-quantum algorithm could take years to complete as asymmetric cryptography is widely used across numerous systems that are interconnected. Changing systems to the new cryptographic standard at such a rapid rate over time could result in the emergence of new vulnerabilities and a vicious cycle.


The North America market consists of a significant number of established players. Amazon Inc., Google LLC, Intel, Microsoft, IBM Corporation, and others are considered among the prominent and high performers players in the market. The key players are adopting partnership strategies to support and enhance their quantum computing services.



  • September 2022: IBM developed a super-fridge, Goldeneye, capable of cooling future generations of quantum experiments. Along with this, the project transcends the issues found in existing dilution refrigerators.

  • June 2021: An IBM Quantum System One computer was the focus of a joint effort between the Fraunhofer Institute and IBM. Using IBM's Quantum System One, the company is expected to conduct optimization, chemistry, and ML research and development.


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The market research report provides qualitative and quantitative insights on the market and a detailed analysis of the North America market size & growth rate for all possible segments in the market. Along with the North America market forecast, the research report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are overview of the number of procedures, an overview of price analysis of types of products, overview of the regulatory scenario by key countries, pipeline analysis, new product launches, key industry developments – mergers, acquisitions & partnerships and the impact of COVID-19 on the market.

Report Scope & Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period


Growth Rate

CAGR of 32.6% from 2023 to 2030


Value (USD million)


By Component, Deployment, Application, End User, and Country/Sub-Region

By Component

  • Hardware

  • Software

  • Services

By Deployment

  • On-Premise

  • Cloud

By Application

  • Machine Learning

  • Optimization

  • Biomedical Simulations

  • Financial Services

  • Electronic Material Discovery

  • Others (Traffic Optimization, Weather Forecasting, and Others)

By End User

  • Healthcare

  • Banking, Financial Services and Insurance (BFSI)

  • Automotive

  • Energy and Utilities

  • Chemical

  • Manufacturing

  • Others (Transportation, Logistics, and Others)

By Country/Sub-Region

  • U.S. (By Component)

  • Canada (By Component)

  • Mexico (By Component)

Frequently Asked Questions

Growing at a CAGR of 32.6%, the market will exhibit healthy growth in the forecast period (2023-2030).

Integration of quantum computers with machine learning algorithms is the major factor driving the growth of the market.

D-Wave Systems Inc., Microsoft Corporation, Rigetti & Co, Inc., Xanadu, and Quantum Xchange are the major market players in the North America market.

U.S. dominated the market in 2022.

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