UK Quantum Computing Market

UK Quantum Computing Market Overview:

The UK quantum computing market size reached USD 38.26 Million in ​2024​. Looking forward, IMARC Group expects the market to reach USD 569.83 Million by ​2033​, exhibiting a growth rate (CAGR) of 35.00% during 2025-2033. The market is experiencing steady growth driven by substantial government and private investment, strong academia-industry collaboration, rapid commercialization of quantum computing applications, and supportive regulatory frameworks.

UK Quantum Computing Market Trends:

Increasing Investment in Quantum Technology

In the UK, significant investments from the public and private sectors are fueling the market's strong expansion and favoring market growth. Moreover, the UK government is acknowledging the potential of quantum technologies as a crucial area of strategic relevance for both economic growth and national security. Initiatives such as the UK National Quantum Technologies Programme, which has witnessed millions in funding, underscore a commitment to advancing this sector, which is significantly supporting the market. Along with this, private investments are also increasing, with numerous startups and established tech companies escalating their quantum research and development efforts. This financial backing is crucial as it enables significant advancements in research, development, and commercialization of quantum computing applications, thereby facilitating a faster transition from theoretical to practical, market-ready solutions.

Favorable Government Policies and Regulatory Support

Government policy and regulatory frameworks are majorly driving the market. Along with this, the UK government is proactive in creating a favorable environment for quantum technology through supportive regulations and policies. These policies are designed to protect intellectual property, encourage startups, and facilitate international partnerships. Thus, this is providing impetus to the market. Additionally, the government’s focus on establishing ethical guidelines for the use of quantum computing ensures public trust and smooth integration into various sectors, including defense, healthcare, and finance. For example, in July 2024, the UK government announced plans to invest in five quantum hubs-a move universities claim could be transformational for the sector. The hubs, in Glasgow, Edinburgh, Birmingham, Oxford, and London, are funded by more than £100 Million from the government, which they will use in helping to develop practical applications of quantum technology such as medical scanners to secure communication networks and next-generation positioning systems.

UK Quantum Computing Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region/country level for 2025-2033. Our report has categorized the market based on offering, deployment, application, and end user.

Offering Insights:

• System
• Services

The report has provided a detailed breakup and analysis of the market based on the offering. This includes system and services.

Deployment Insights:

• On-premises
• Cloud

The report has provided a detailed breakup and analysis of the market based on the deployment. This includes on-premises and cloud.

Application Insights:

• Optimization
• Simulation
• Machine Learning
• Others

The report has provided a detailed breakup and analysis of the market based on the application. This includes optimization, simulation, machine learning, and others.

End User Insights:

• Aerospace and Defense
• BFSI
• Healthcare
• Automotive
• Energy and Power
• Chemical
• Government
• Others

The report has provided a detailed breakup and analysis of the market based on the end user. This includes aerospace and defense, BFSI, healthcare, automotive, energy and power, chemical, government, and others.

Region Insights:

• London
• South East
• North West
• East of England
• South West
• Scotland
• West Midlands
• Yorkshire and The Humber
• East Midlands
• Others

The report has also provided a comprehensive analysis of all the major regional markets, which include London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

UK Quantum Computing Market News:

• July 2024: Oxford Ionics, a pioneering quantum computing company based in Oxford, United Kingdom, unveiled the 'Pivotal' quantum computing chip. The chip, which can be mass-produced, is designed to control trapped ions, a key technology needed for quantum computing, offering more than double the performance of previous attempts. This new technology enables very complex calculations to be made extremely quickly and solves problems too difficult for regular computers.
• April 2024: Rigetti and Oxford Instruments announced the successful completion of their Innovate UK project to build one of the first UK-based quantum computers. The project, supported by a £10 Million consortium, aimed to advance quantum computing commercialization in the UK through a 32-qubit quantum computer. Hosted at Oxford Instruments, the system is now used for quantum applications in machine learning, materials simulation, and finance, marking a significant milestone for UK quantum computing capabilities.

UK Quantum Computing Market Report Coverage:

Key Questions Answered in This Report:

• How has the UK quantum computing market performed so far and how will it perform in the coming years?
• What is the breakup of the UK quantum computing market on the basis of offering?
• What is the breakup of the UK quantum computing market on the basis of deployment?
• What is the breakup of the UK quantum computing market on the basis of application?
• What is the breakup of the UK quantum computing market on the basis of end user?
• What are the various stages in the value chain of the UK quantum computing market? 
• What are the key driving factors and challenges in the UK quantum computing market?
• What is the structure of the UK quantum computing market and who are the key players?
• What is the degree of competition in the UK quantum computing market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the UK quantum computing market from 2019-2033​.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the UK quantum computing market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the UK quantum computing industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.