India, March 21 -- The total quantum market will grow from US$954 million in 2024 to US$17.4 billion in 2035, with a 32% CAGR during the period. Beyond 2028, Yole Group expects that quantum computing will dominate. Indeed, the quantum computing market segment will total US$3.74 billion in 2035, including both hardware and service applications.

QaaS will have the major share, with most services running on quantum computers in the cloud. QaaS will grow much faster than QC hardware (computers). For quantum communication, QKD is mainly restricted to point-to-point links (a few 100 km ranges, maximum) today. With the development of quantum repeaters at increasing distances, a quantum network would be possible.

Eric Mounier, Chief Analyst, Ph...