Quantum Computing Market: $1B Today, $198B by 2040 | Analyst Report – News and Statistics

Dec 17, 2025

The quantum computing industry is generating about $1 billion in revenues today and has a potential “total addressable market” of up to $198 billion by 2040, according to analyst Kevin Garrigan and his colleagues at Jefferies, as reported by Fortune. The Jefferies team began coverage of the quantum industry by rating three companies: D-Wave Quantum (buy), IonQ (buy), and Rigetti Computing (hold).

All three companies covered by Jefferies emerged from U.S. academic research labs more than 10 years ago, but financially they still look like well-funded startups. D-Wave and IonQ are both growing but unprofitable. D-Wave reported Q3 revenue was up 100% to $3.7 million but with a net loss of $140 million; IonQ disclosed Q3 revenue of $39.9 million, up 222% on a net loss of $1.1 billion. Rigetti reported a decline in Q3 revenue of 18% to $1.9 million and a loss $201 million, but also disclosed new incoming contract agreements worth $11.5 million.

Coincidentally, Wedbush also initiated coverage of those three companies along with a fourth, Quantum Computing Inc. It rated all of them as “outperform” except for QCI, which it graded as neutral. QCI is profitable and it reported growing Q3 revenues, but the size of its business is currently tiny: It booked only $384,000 in sales for the period.

In “classical” computing, computer chips and software solve problems using “bits” that represent information as 1 or 0. Quantum computers, by contrast, use the principles of quantum uncertainty in subatomic physics to represent information as “qubits” that can be 1, 0, or both at the same time. “A classical computer is like reading every book in the library one by one to find an answer. A quantum computer is like being able to read all the books at once,” the team at Jefferies wrote. A fully functioning quantum computer can, in theory, tackle complex problems in 5 minutes that classical computers would need 10 septillion years of processing to solve.

The downside is that the physics and engineering needed to make them work has only just moved out of the theoretical realm and into reality. Nonetheless, “as quantum moves from lab to applied pilots, a specialized components industry is emerging for components, such as cryogenics (dilution refrigerators), lasers/optics, and control electronics, that increasingly supplies multiple hardware stacks,” the Jefferies analysts said. That industry is being funded by governments and large tech companies like Google and IBM.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the memories market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

• Prodcom 26113023 – Multichip integrated circuits: memories
• Prodcom 26113027 – Electronic integrated circuits (excluding multichip circuits): dynamic random-access memories (D-RAMs)
• Prodcom 26113034 – Electronic integrated circuits (excluding multichip circuits): static random-access memories (S-RAMs), including cache random-access memories (cache-RAMs)
• Prodcom 26113054 – Electronic integrated circuits (excluding multichip circuits): UV erasable, programmable, read only memories (EPROMs)
• Prodcom 26113065 – Electronic integrated circuits (excluding multichip circuits): electrically erasable, programmable, read only memories (E.PROMs), including flash E.PROMs
• Prodcom 26113067 – Electronic integrated circuits (excluding multichip circuits): other memories

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• United States

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