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Quantum Computing Market to Grow by USD 17.34 Billion (2024-2028), Rising Stakeholder Investments, Report on AI-Driven Market Transformation – Technavio

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NEW YORK, Nov. 26, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global quantum computing market size is estimated to grow by USD 17.34 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 26.37% during the forecast period. Increasing expenditure by stakeholders is driving market growth, with a trend towards growth of ai and machine learning. However, quantum decoherence poses a challenge.Key market players include 1QB Information Technologies Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Anyon Systems Inc., Atos SE, D-Wave Quantum Inc, Honeywell International Inc., ID Quantique SA, Intel Corp., International Business Machines Corp., IonQ Inc., Microsoft Corp., QC Ware, QRA Corp., Quantica Computacao, Quantinuum Ltd., Quantum Circuits Inc., Qubitekk Inc., and Rigetti and Co. LLC.

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Quantum Computing Market Scope

Report Coverage

Details

Base year

2023

Historic period

2017 – 2021

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 26.37%

Market growth 2024-2028

USD 17340.7 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

20.5

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 37%

Key countries

US, China, Japan, Germany, and India

Key companies profiled

1QB Information Technologies Inc., Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Anyon Systems Inc., Atos SE, D-Wave Quantum Inc, Honeywell International Inc., ID Quantique SA, Intel Corp., International Business Machines Corp., IonQ Inc., Microsoft Corp., QC Ware, QRA Corp., Quantica Computacao, Quantinuum Ltd., Quantum Circuits Inc., Qubitekk Inc., and Rigetti and Co. LLC

Market Driver

The quantum computing market is experiencing significant growth as businesses explore the potential of this revolutionary technology. Quantum computing, based on quantum theory and mechanics, promises to solve complex problems faster than classical computers. Key trends include AI, cloud computing, and partnerships with tech giants like AMD. Patent filings indicate a focus on hardware and software development, with applications in various sectors such as biomedical simulations, optimization, and manufacturing. Quantum computing is expected to disrupt industries like electronics, telecommunications, and financial services, with potential use cases in areas like AI drug discovery, energy optimization, and logistics networks. Error mitigation and suppression techniques are crucial for quantum computing hardware, while quantum simulators and networking are driving research and development. Security concerns are being addressed through quantum-accelerated cryptography. The market is expected to grow, with tech media and IDG predicting increased customer spend on quantum computing resources. Quantum computing is poised to bring innovation to information technology, high-performance computing, and consumer technology markets, with potential applications in areas like weather forecasting, traffic optimization, and energy optimization. 

Artificial Intelligence (AI) and Machine Learning (ML) are advanced technologies that mimic human intelligence to solve complex problems. AI involves computers, machines, software, and robots thinking intelligently, while ML enables computers to learn from new data. Quantum Computing is set to revolutionize these fields by providing unprecedented processing power. Quantum computers use quantum bits, or qubits, which can exist in multiple states at once, enabling them to process vast amounts of data simultaneously. This makes them ideal for complex AI and ML applications, such as pattern recognition, optimization, and predictive analytics. The integration of quantum computing into AI and ML is expected to lead to significant advancements in fields like healthcare, finance, and research. 

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 Market Challenges

The quantum computing market is experiencing significant growth as businesses explore the potential of this revolutionary technology. Quantum computing, based on quantum theory and mechanics, offers solutions beyond the capabilities of classical computers. Companies in various sectors, including AI, biomedical simulations, manufacturing, energy, and telecommunications, are investing in quantum computing for product innovation. Quantum computing’s potential applications range from optimization and machine learning to electronic material discovery and cryptography. However, challenges persist. Quantum hardware development requires addressing error mitigation and suppression techniques. Quantum computing resources, including quantum computers and quantum computing software, are still in development. Security concerns, particularly around data security, are a major consideration for businesses. Leading tech companies, such as AMD, are partnering to develop quantum-accelerated hybrid algorithms and quantum photonic processors. Terra Quantum, a quantum computing software company, is focusing on AI drug discovery. SaaS business models, cloud-based quantum computing, and data centers are also emerging. Macroeconomic factors, including research and development initiatives, will continue to shape the quantum computing market. The International Data Group and tech media predict a quantum computing market worth billions, with applications in high-performance computing, financial services, and logistics networks. Quantum simulators, quantum networking, and quantum algorithms are also areas of focus. Despite these opportunities, there are also risks. Error correction techniques, processor designs, and quantum information science are critical areas of research. Military affairs and strategic balance are also factors to consider. As the quantum computing market evolves, businesses must make informed technology decisions.Quantum computing firms encounter a significant challenge in the form of quantum decoherence. This process refers to the tendency of a quantum state to transition into a classical computing bit due to outside interference. Heat, internal defects, and vibrations are common sources of such interference, leading to the loss of the qubits’ stored information to the surroundings. Researchers are dedicated to preserving superposition, the foundation of quantum computing, by delaying decoherence. To achieve a state of coherence, quantum computers require a completely isolated environment to prevent any potential disturbances.

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Segment Overview 

This quantum computing market report extensively covers market segmentation by

Deployment 1.1 Cloud1.2 On-premiseEnd-user 2.1 Aerospace and defense2.2 Government2.3 IT and telecom2.4 OthersGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Cloud- Quantum computing on the cloud is a cost-effective solution for firms to access advanced quantum computing systems without the need for significant hardware and software investments. Through a cloud network, users can access these systems on-demand, with broad network access, resource pooling, rapid elasticity, measured service, and self-service capabilities. Major software companies are investing in quantum computing as a service, offering subscription-based access to quantum computing systems. Commercial users, including enterprises and SMEs, are integrating quantum computing into their business activities, particularly in sectors like BFSI, for data analytics and AI capabilities. Quantum computing-as-a-service through the cloud allows for swift setup and implementation, making it an attractive option for businesses looking to adopt quantum computing technology. Technavio predicts that the trend of cloud-based quantum computing adoption will continue, particularly among SMEs, driving market growth during the forecast period.

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Research Analysis

Quantum computing is a revolutionary technology in computer science that utilizes the principles of quantum mechanics to process information. Unlike classical computers that use bits with a value of 0 or 1, quantum computers use qubits, which can exist in multiple states at once, enabling them to solve complex problems much faster. Quantum computing has the potential to revolutionize industries such as finance, healthcare, and materials science. The quantum computing market is expected to grow significantly due to increasing research and development in quantum technology, patent filings, and quantum initiatives from various organizations. Macroeconomic factors, such as government funding and private investment, also play a crucial role in the market’s growth. Quantum hardware development is a key focus area, with companies investing in error mitigation and suppression techniques to overcome the challenges of quantum computing. Cloud computing platforms like Xanadu Cloud are providing access to quantum computing resources, enabling researchers and businesses to explore the potential of quantum computing without the need for expensive hardware. Generative AI and artificial intelligence applications are also expected to benefit from quantum computing’s ability to process large amounts of data faster. Overall, the quantum computing market is poised for significant growth as the technology continues to advance and find applications in various industries.

Market Research Overview

Quantum computing, a revolutionary technology rooted in quantum theory and mechanics, is poised to disrupt various industries by surpassing the capabilities of classical computers. This emerging field, intertwined with computer science, offers solutions to complex problems in areas such as Artificial Intelligence (AI), optimization, and scientific simulations. Patent filings indicate in quantum hardware and software development. Quantum computing’s potential applications span across sectors like Biomedical simulations, Manufacturing, Energy, Telecommunications, and Electronics. Companies are investing heavily in research and development to achieve quantum advantage, with quantum-accelerated AI, generative AI, and hybrid algorithms being key areas of focus. Cloud computing plays a significant role in the quantum computing market, with cloud-based quantum computing and SaaS business models gaining traction. Partnerships between tech giants and startups are driving product innovation, leading to advancements in quantum photonic processors, error mitigation and suppression techniques, and quantum computing hardware. The macroeconomic factors influencing the market include customer spend, technology decisions, and strategic balance in military affairs. The quantum computing landscape is vast, encompassing quantum simulators, quantum networking, quantum algorithms, error correction techniques, portfolio management, and quantum computing resources. Security concerns are a significant challenge, with quantum computing posing threats to traditional encryption methods. The financial services sector is exploring quantum annealing algorithms and quantum computing software for risk analysis and optimization. In summary, the quantum computing market is an evolving ecosystem, driven by scientific innovation, partnerships, and macroeconomic factors. It offers potential solutions to complex problems in various industries, from logistics networks to weather forecasting and energy optimization.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentCloudOn-premiseEnd-userAerospace And DefenseGovernmentIT And TelecomOthersGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Truck Accident Attorney Network Relaunches Website to Expand Nationwide Visibility and Elite Truck Accident Lawyers

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LOS ANGELES, April 20, 2026 /PRNewswire/ — Truck Accident Attorney Network is proud to announce the official relaunch of its newly redesigned website https://www.truckaccidentattorneynetwork.org/, making it a major step forward in its mission to connect accident victims with highly qualified, experienced truck accident lawyers across the United States.

The updated platform features a modern design, an improved user experience, and enhanced functionality to better serve individuals seeking legal representation after serious truck accidents. With a renewed focus on nationwide growth, Truck Accident Attorney Network aims to expand its reach like never before to help people get top-performing attorneys who specialize in complex truck accident litigation.

Unlike other traditional legal directories, Truck Accident Attorney Network aims to implement a strict vetting process to ensure that only highly experienced attorneys are included. All the candidates that are considered must meet the organization’s rigorous membership standards, which can be reviewed here: https://www.truckaccidentattorneynetwork.org/membership-criteria/.

“Unlike many legal directories, attorneys can’t just sign up and advertise on our website. Every attorney must meet our membership criteria and demonstrate experience handling truck accident cases. The purpose of the Truck Accident Attorney Network is to ensure injured victims can connect with qualified truck accident lawyers, not just any personal injury attorney. Our goal is simple — when someone finds a lawyer through https://www.truckaccidentattorneynetwork.org/, they know they are being connected with an elite attorney who has real experience handling serious truck accident cases.”

To prioritize quality over quantity, Truck Accident Attorney Network ensures that only attorneys who possess the track record and expertise needed to tackle high-stakes truck accident claims are available to choose from. The relaunch reinforces the website’s commitment to transparency, trust, and results – driven legal connections.

For more information, visit https://www.truckaccidentattorneynetwork.org/.

View original content:https://www.prnewswire.com/news-releases/truck-accident-attorney-network-relaunches-website-to-expand-nationwide-visibility-and-elite-truck-accident-lawyers-302747839.html

SOURCE Everest Legal Marketing

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Trutankless® Expands GEN3 Lineup with 208V Unit Built for Condos, Multi-Family, and Light Commercial Use

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Engineered for 208V environments, the new unit delivers a compact, energy-efficient, low-maintenance alternative to traditional tank water heaters

SCOTTSDALE, Ariz., April 20, 2026 /PRNewswire/ — Trutankless® today announced the release of its GEN3 Commercial 208V Unit, now in stock and available through wholesalers nationwide, bringing its award-winning “Smart” technology – trusted in homes across the country – into light commercial environments for the first time.

Built for environments like salons, restaurants, fitness studios, and multi-unit properties, the GEN3 208V unit gives business owners a simple, reliable solution: consistent hot water, no downtime, and less maintenance.

A Smarter Upgrade for Commercial Spaces

Many commercial and residential buildings already operate on 208-volt electrical systems, making the GEN3 unit an easy transition from bulky, high-maintenance tanks to a more modern, energy-efficient solution.

With a compact, wall-mounted design and advanced internal controls, the system is designed to perform under pressure, especially during peak business hours when hot water demand is highest.

Key Features & Smart Capabilities Include:

Precision Temperature Control
Advanced solid-state electronics continuously modulate power to maintain consistent water temperature within a fraction of a degree, even during peak usage times.

Low-Maintenance, Long-Life Design
A proprietary heat exchanger is engineered to resist scale and mineral buildup, helping extend the system’s lifespan and significantly reduce the maintenance typically required with traditional tank heaters.

Smart Monitoring & Proactive Maintenance
Integrated Wi-Fi connectivity transforms hot water management from a reactive task into a proactive strategy. Through a centralized digital dashboard, property owners and facility managers gain a comprehensive view of system performance across one or multiple units.

Proactive System Health – Predictive diagnostics help identify potential issues before they lead to downtime.Preventative Oversight – Real-time status updates and maintenance reminders help ensure systems operate at peak reliability.Comprehensive Dashboard – Monitor performance metrics, track energy usage, and manage multiple units from a single interface.Smart Alerts – Instant notifications enable faster troubleshooting and help minimize service interruptions.

 

Space-Saving Installation
The sleek, wall-mounted design frees up valuable floor space, giving businesses more room for operations, storage, or customer-facing areas.

Energy-Efficient Operation
By eliminating standby heat loss, the GEN3 unit helps reduce overall energy consumption, lowering utility costs while also supporting a smaller environmental footprint.

Meeting Growing Demand for Electric Solutions

The launch comes as more businesses look for efficient, electric-first infrastructure that is easier to manage and more cost-effective over time.

“The feedback from our partners and early adopters has been nothing short of spectacular,” said Guy Newman, CEO of Trutankless®. “We’ve seen a massive surge in demand for a high-performance 208V solution that doesn’t compromise on reliability. The GEN3 Commercial unit is the culmination of years of engineering – it’s smarter, tougher, and more efficient than anything else on the market.”

Available Now Through Wholesale Partners

The GEN3 Commercial 208V unit is now in stock and available through authorized Trutankless® wholesale partners nationwide.

For more information or to find a local distributor, visit www.trutankless.com.

About Trutankless®
Trutankless® is a leading innovator in electric tankless water heating technology, focused on delivering high-performance, energy-efficient solutions for residential and commercial applications. Based in Arizona, the company continues to push the industry forward with smart, space-saving systems designed for modern living and working environments.

View original content to download multimedia:https://www.prnewswire.com/news-releases/trutankless-expands-gen3-lineup-with-208v-unit-built-for-condos-multi-family-and-light-commercial-use-302747862.html

SOURCE Trutankless

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LITO Announces New Collaboration Bringing Exclusive Contemporary Artist Editions to Sotheby’s Online Marketplace

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The initiative sees artists create new works designed from the outset for high-quality, limited editions.

NEW YORK, April 20, 2026 /PRNewswire/ — LITO, a pioneering printmaking company redefining how art is created and collected, is pleased to announce a new collaboration that brings exclusive, museum-quality contemporary art editions to Sotheby’s online marketplace. The collaboration introduces a curated program of LITO Editions by leading international artists, offering collectors a new way to acquire highly refined, limited-edition works conceived in direct collaboration with the artists themselves.

LITO Editions are authentic works of art conceived in direct collaboration with artists, who imagine original work specifically for the format. The pieces are then developed into limited editions at LITO’s Technology Lab, an in-house research and production facility where engineers, technicians, and print specialists have developed the company’s patented Hi-Rnd© process. The lab brings together precision engineering and artistic collaboration to produce works that capture texture, color, relief, and brushstroke detail at multiple scales. Produced in limited runs, the editions are each hand-signed and numbered by the artist.

The initiative begins with an exclusive series of LITO Editions by acclaimed American portrait artist Kehinde Wiley. The series is based on his 2008 painting Triple Portrait of Charles II. Drawing on the historical tradition of multi-view portraiture, these works explore identity as layered and constructed rather than singular. Each piece is produced as a high-resolution print on Aludibond, set within an aluminum frame. The compositions feature engraved floral elements against mirrored backgrounds, available in Gold, Dark Mirror, and Mirror finishes, with select works also offered in a blue variant. Available for immediate purchase on Sotheby’s online marketplace, the editions are priced between $8,000 and $15,000, expanding access to Wiley’s work while maintaining the highest standards of craftsmanship.

Wiley’s editions are currently on view at Sotheby’s galleries in the Breuer Building in New York through April 24, offering collectors and the public an opportunity to experience the artist’s work and LITO’s high-resolution editions firsthand. The presentation highlights the depth, texture, and dimensionality that define LITO’s approach and underscores the collaboration’s emphasis on in-person engagement.

“The marriage of art and science is one that’s been known and storied. There was, prior to the camera, an assumption that art was the ultimate authority of truth in history. Now with new technology, art is freed to take on new responsibilities, and to be able to tell other types of stories,” said Wiley. “Working with Sotheby’s, LITO, and LITO’s technology has also allowed me to go back into my archive and rethink paintings that had been done years ago and these editions are part of a grand tradition of artists playing with the leading edge of technology.”

“As the art market continues to evolve, the collaboration signals a broader shift toward new formats and technologies that expand how art is created, distributed, and collected, without compromising on artistic intent or quality,” said John Dodelande, CEO of LITO. “By creating a new asset class within the art market, our technology will allow a new generation of collectors to experience and immerse themselves in the art world in a way that limited supply may have otherwise precluded them from.”

“Beginning a collection with editions offers an exciting and accessible entry point into contemporary art,” said Cynthia Houlton, Sotheby’s Senior Vice President and Global Head of Demand Generation & Marketplace. “Through our collaboration with LITO, collectors can acquire high‑quality works directly from the artist, reinforcing both authenticity and a meaningful connection to the creative process. Exclusive to Sotheby’s, these editions carry a compelling sense of rarity while remaining approachable. By presenting them on our Marketplace, we aim to welcome new audiences and invite discovery of exceptional art in a way that feels both inspiring and inclusive.”

New releases and exhibitions will follow throughout 2026, with monthly drops planned alongside presentations in New York, Los Angeles and London, including a Sotheby’s showcase in London from April 29 to May 17 and in Beverly Hills from May 18 to May 31.

Founded in 2022 and based in Bregenz, Austria, LITO already operates showrooms in Paris, London, and Bregenz, reflecting its growing international footprint. The company has collaborated with a wide range of internationally recognized contemporary artists, including Amoako BoafoDaniel ArshamCamille Henrot, Jia Aili, and Peter Halley, among others, advancing a model that creates new pathways for artists while extending the reach and accessibility of their work.

ABOUT LITO:

Founded in 2022, LITO is a forward-thinking printmaking company based in Bregenz, Austria. Through its patented Hi-Rnd© technology, LITO produces high-rendered limited editions that capture the texture, color, and dimensionality of original artworks with exceptional precision. Working in close collaboration with leading contemporary artists, LITO creates editions that are hand-signed, numbered, and conceived specifically for this innovative format.

ABOUT SOTHEBY’S

Established in 1744, Sotheby’s promotes access and ownership of exceptional art and luxury objects through auctions, private sales and retail. Our deep expertise across 70 selling categories is supported by a leading technology platform and a global network of specialists spanning 40 countries. Selling categories include Contemporary Art, Modern and Impressionist Art, Old Masters, Chinese Works of Art, Jewelry, Watches, Wine and Spirits and Design, as well as collectible cars and real estate through RM Sotheby’s and Concierge. Sotheby’s Financial Services is a leading art lender and provides capital solutions for collectors around the world, having originated more than $12 billion in loans since its inception. Sotheby’s new global headquarters is now open at the iconic Breuer building at 945 Madison Avenue in New York City.

PRESS CONTACTS:

For LITO: Ashley Hansen, Forward Global, ashley.hansen@forwardglobal.com
For LITO: Kyle Boulia, Forward Global, kyle.boulia@forwardglobal.com
For LITO: Sloan Savage, Forward Global, sloan.savage@forwardglobal.com

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SOURCE LITO Editions

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