PUBLISHER: The Business Research Company | PRODUCT CODE: 1706185
PUBLISHER: The Business Research Company | PRODUCT CODE: 1706185
Quantum machine learning explores the convergence of quantum computing and machine learning, utilizing quantum algorithms and computing techniques to enhance the efficiency of solving complex computational problems compared to classical computers. Its objective is to apply the principles of quantum mechanics to process extensive datasets and optimize machine learning model performance.
The primary elements of quantum machine learning encompass hardware, software, and services. Hardware pertains to the physical devices and components essential for constructing and operating quantum computers. These systems are deployed through on-premise and cloud-based models across various sectors, including healthcare, BFSI, automotive, research, energy, chemical, manufacturing, among others.
The quantum machine learning market research report is one of a series of new reports from The Business Research Company that provides quantum machine learning market statistics, including the quantum machine learning industry global market size, regional shares, competitors with quantum machine learning market share, detailed quantum machine learning market segments, market trends, and opportunities, and any further data you may need to thrive in the quantum machine learning industry. These quantum machine learning market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The quantum machine learning market size has grown exponentially in recent years. It will grow from $1.12 billion in 2024 to $1.5 billion in 2025 at a compound annual growth rate (CAGR) of 33.8%. The growth in the historic period can be attributed to increased investments in quantum machine learning technologies, adoption of quantum machine learning technologies, partnerships and collaborations, and investment and funding.
The quantum machine learning market size is expected to see exponential growth in the next few years. It will grow to $4.77 billion in 2029 at a compound annual growth rate (CAGR) of 33.5%. The growth in the forecast period can be attributed to rising need for advanced computing power, growing demand for software-as-a-service (SaaS) business models, advancements in quantum computing hardware and software, potential application in the banking and finance services sector and rapid growth of expanding economies. Major trends in the forecast period include advancement of quantum AI technologies, technological advancements, enhanced quantum algorithms, cloud-based quantum computing, and quantum machine learning frameworks.
The increasing volume of data generation is expected to drive the growth of the quantum machine learning market in the foreseeable future. Data generation involves the creation of synthetic data that mirrors real-world data. The proliferation of connected devices, the expansion of digital platforms and services, and the adoption of IoT (Internet of Things) technologies across various industries contribute to the surge in data generation. Quantum machine learning algorithms have the capability to analyze data more efficiently than classical algorithms, enabling faster processing of large datasets and extraction of valuable insights. For example, in March 2024, Edge Delta, a US-based software company, disclosed that users had generated 64.2 Zettabytes (ZB) of data in 2020, with projections indicating an increase to 147 ZB by the end of 2024. Furthermore, by 2032, this volume is forecasted to skyrocket to 300 times higher than the data collected in 2027. Hence, the increased data generation is a key driver of the quantum machine learning market's growth.
Leading companies in the quantum machine learning (QML) market are spearheading quantum machine learning initiatives to harness the potential of quantum computing in enhancing machine learning algorithms and data analysis. These initiatives leverage the unique capabilities of quantum computing to improve machine learning algorithms, facilitating more efficient data analysis, pattern recognition, and optimization tasks compared to classical computing methods. For instance, in November 2023, Quantum Connect, an Austria-based consortium comprising machine learning and quantum computing experts, launched Austria's inaugural quantum machine learning community. The initiative aims to cultivate an active community dedicated to researching and developing quantum machine learning applications for future deployment across various Austrian industries and public administration sectors.
In January 2022, Pasqal, a Germany-based developer of neutral atom-based quantum technology, merged with Qu&Co for an undisclosed sum. This collaboration accelerates their joint efforts to gain a competitive edge through quantum computing by leveraging their complementary solutions. Qu & Co BV is a Netherlands-based developer of quantum computational software.
Major companies operating in the quantum machine learning market are Google LLC, Microsoft Corporation, Alibaba Cloud, Amazon Web Services, Intel Corporation, Accenture plc, International Business Machines Corporation, Honeywell International Inc., Fujitsu, Atos SE, PsiQuantum Corp., Quantinuum Ltd., Xanadu, Quantum Machines, 1QB Information Technologies Inc., Multiverse Computing, Q-CTRL, Rigetti & Co LLC, IonQ Inc., QC Ware, Alice & Bob, D-Wave Quantum Inc., Zapata Computing Inc., Equal1 Laboratories Ireland Limited, ProteinQure Inc.
North America was the largest region in the quantum machine learning market in 2024. The regions covered in the quantum machine learning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the quantum machine learning market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The quantum machine learning market includes revenues earned by entities by providing services such as quantum algorithms, offering consulting services, and delivering training and cloud-based quantum computing solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. The quantum machine learning market also includes sales of quantum processors, quantum gates, quantum memory, quantum interconnects, control electronics, quantum cooling systems, and classical computing interfaces. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Quantum Machine Learning Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on quantum machine learning market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for quantum machine learning ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The quantum machine learning market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.