Is quantum computing a large market?

Yes, the market for quantum computing is substantial and growing rapidly. Here are key points to consider:

1. **Market Size and Growth Rate**: The global quantum computing market size has grown from $0.82 billion in 2023 to $1.10 billion in 2024, representing a compound annual growth rate (CAGR) of 33.6%. It is projected to reach $3.51 billion by 2028, maintaining a CAGR of 33.8%.
2. **Market Potential**: The potential quantum technology market size is estimated to reach $173 billion by 2040. This underscores the significant potential for growth and expansion in the coming years.
3. **Application and Adoption**: Quantum computing is being adopted across various sectors, including optimization, simulation, machine learning, and pharmaceuticals. The growing demand for high-performance computing, the need for simulating complex systems, and the rising incidence of cybercrime are driving market growth.
4. **Investment and Funding**: There has been a surge in investments from both governments and private sectors, with significant funding allocated for quantum research and development. This indicates strong support for the market's growth.
5. **Technological Advancements**: Breakthroughs in quantum hardware, such as the development of quantum photonic chip foundries, are paving the way for more efficient and scalable quantum systems. Companies like PsiQuantum are aiming to scale up quantum computing to millions of qubits, which could significantly disrupt industries.

In conclusion, the market for quantum computing is large and expanding, with significant potential for further growth as technology advances and adoption increases across various industries.