The market for global quantum computing in financial services reached $300 million in 2024 and is expected to soar to $6.3 billion by 2032, surging at a CAGR of 46.5% between this year and then, according to a report released Monday by DataM Intelligence.
“The significant growth signals a fundamental inflection point in the financial sector,” the firm said in a news release. “What began as theoretical research and proof-of-concept pilots is rapidly evolving into strategic, production-oriented use cases across risk modeling, portfolio optimization, fraud detection, and cryptography.”
Risk management and cybersecurity are the largest application segment globally, representing about 29% of total market value, or $87 million, in 2024, according to DataM Intelligence. Financial institutions are emphasizing the management of risk through quantum-enhanced stress testing, fraud detection and cryptographic resilience, the firm said.
Asset and wealth management were the second largest application area last year, with about 22% of the market, or $66 million. Investment banking followed at approximately 17%, or $51 million, with a focus on derivatives pricing, capital allocation and deal structuring. Retail banking and payments held about 20% of the market, or $60 million, emphasizing fraud prevention, credit scoring and transaction optimization, according to the company. The final 12% was comprised of corporate banking and other applications.
DataM Intelligence projects that risk-centric applications will continue to be the main adoption driver, and asset management will provide the strongest long-term value creation.
By 2030, quantum computing will no longer be seen as a future technology in financial services.
By 2030, quantum computing will no longer be seen as a future technology in financial services, but instead “emerge as a competitive differentiator, separating institutions that can process complexity at unprecedented scale from those constrained by classical computing limits,” according to DataM Intelligence.
The U.S. leads the worldwide market, representing about 45% of total revenue, or approximately $135 million in 2024, the firm said.
Driving U.S. sales last year were strong quantum R&D ecosystems, early adoption by large banks and hedge funds, cloud-based quantum access at scale, and a regulatory focus on cybersecurity and systemic risk, according to DataM Intelligence.
By 2032, the U.S. market for financial services quantum computing is expected to surpass $2.8 billion, with the U.S. maintaining global leadership in quantum finance deployment, the firm projected.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.