The quantum computing market is projected to grow from $1.6 billion in 2025 to $7.3 billion by the end of 2030, according to a recent study from BCC Research.

The Quantum Computing: Technologies and Global Markets to 2030 report cites the following developments as key factors driving this growth:

• Rapid growth in machine learning and artificial intelligence
• Demand for supply chain optimization and expansion of cloud-based quantum solutions
• Implementation of quantum computing in self-driving technology
• Quantum technology in the healthcare sector
• Investments by the government and the defense sector

The quantum-assisted optimization sector is expected to dominate the quantum market by 2030, the report states. “This is due to its wide applicability across industries such as logistics, finance, manufacturing, and energy.” Challenges to growth, however, include technological hurdles in implementation and a quantum skills shortage.

Learn more at BCC Research.