The quantum commercial market is commonly split into computing, communications, and sensing, each representing a portion of the quantum world, which operates on a much smaller and more precise scale. IDTechEx's portfolio of Quantum Technologies Research Reports and Subscriptions covers the latest developments across the sector.
Complex problems, high sensitivities, and secure communication
The aim for quantum computing is to solve problems or algorithms that are not easily solvable on a classical computer and do so far more efficiently and quickly using quantum processing. Within quantum computing, the value of a quantum computer is largely defined by the number of error-corrected or logical qubits, one of which is made from multiple quantum bits to ensure the utmost accuracy and quality of performance. IDTechEx's report, "Quantum Computing Market 2026-2046: Technology, Trends, Players, Forecasts", explores the main industries which quantum computing could be beneficial for. High-performance computing applications such as materials simulations and climate modelling, and drug discovery and molecular modelling within the chemical industry are some examples of target applications for quantum computing. Other sectors with opportunities for the complex problem-solving machines include automotives, aerospace, and financial, for performance optimization and many types of simulations.
Quantum sensors can allow for an understanding of that which is otherwise invisible to the human eye, by being orders of magnitude higher in sensitivity than other classical sensors. New quantities or applications that were not previously possible to achieve could be unlocked with quantum sensor technologies, which come in a variety of forms. IDTechEx's report, "Quantum Sensors Market 2026-2046: Technology, Trends, Players, Forecasts", states that during the current decade, atomic clocks, magnetic field sensors, and single photon detectors are the technologies to watch, while gyroscopes, gravimeters, and RF sensors are expected to emerge in the 2030s, and quantum imaging and accelerometers predicted for the 2040s. The quantum sensor market is forecast to hit US$1.9 billion in 2046, growing at a compound annual growth rate of 9%.
Levelled up security and the generation of random numbers can be achieved with quantum communication, which can be categorized into two types: QKD and QRNG. QKD can provide secure communications where eavesdroppers can automatically be identified, while QRNG can be used for applications such as cryptography and gaming and gambling end user devices.
The current market for quantum technologies and materials
Private investment, government funding, commercial partnerships, and security risks, are some of the main drivers behind the commercialization of quantum technologies. IDTechEx estimates that over US$35 billion public and private investment has been made into quantum technology research and development.
Materials for quantum technologies can split the quantum market not into the three main categories of computing, sensing, and communications, but instead into the different material platforms. These are described by IDTechEx as being superconducting chips, photonics, and nanomaterials and diamond, which are grouped by their composition and manufacturability.
Photonics and atomic interferometry are the largest materials group, containing photonic qubits, atomic clocks, and gyroscopes as examples. In this group, photons of light are either the carriers of quantum information, or light can be used through lasers or LEDs to modulate atoms in a device. Photonics are also extremely important for quantum communication, as light is a carrier of information, through fibers or free space communications. The category of superconducting chips can be described as nanofabricated superconducting metals deposited onto substrates. These materials can use existing semiconductor manufacturing techniques, however precision must be prioritized for higher performance and greater stability. IDTechEx's report, "Materials for Quantum Technologies 2026-2046: Market, Trends, Players, Forecasts", covers these materials groups in greater detail.
For more information on quantum technology markets, visit IDTechEx's portfolio of Quantum Technologies Research Reports and Subscriptions for the latest developments across quantum materials, computing, sensors, and communication.
