Global Quantum Computing in Energy and Utility Market Size/Share Worth USD 23.72 Billion by 2034 at 4.40% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth Rate, Value, SWOT Analysis)

Austin, TX, USA, July 03, 2025 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “Quantum Computing in Energy and Utility Market Size, Trends and Insights By Technology (Quantum Hardware, Quantum Software, Quantum Services), By Application (Grid Optimization, Energy Storage Systems, Renewable Energy Forecasting, Predictive Maintenance, Supply Chain Optimization), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034“ in its research database.

“According to the latest research study, the demand of global Quantum Computing in Energy and Utility Market size & share was valued at approximately USD 15.42 Billion in 2024 and is expected to reach USD 16.10 Billion in 2025 and is expected to reach a value of around USD 23.72 Billion by 2034, at a compound annual growth rate (CAGR) of about 4.40% during the forecast period 2025 to 2034.”

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Overview

As per the industry experts at CMI, the main positioning factor for quantum computing applications in the energy and utilities industry is the increase in efficiency to operate complex and data-rich processes. As renewable energy sources continue to grow, quantum computing is allowing for better utility forecasting and optimization of renewable energy, such as wind and solar. These capabilities can also improve responsiveness in grid management, predictive maintenance, and energy storage systems. Convenience and allowing utility companies to solve complex optimization problems faster than they could do with classical computing ensures more reliable and cost-effective solutions and ultimately will lead to more widespread adoption of quantum technologies in the energy sector.

Key Trends & Drivers

• Better Energy Efficiency: Quantum computing can process large datasets considerably faster than classical computers. This enables significant improvements in predictions and optimizations for energy systems, which improves energy distribution, grids, and storage and increases energy efficiency. Quantum algorithms can quickly identify consumptive behavior patterns or consumption to optimize resources and reduce waste, which is a growing need, particularly in renewable energy management. Aside from the energy efficiency impact, it is one of the main systems driving quantum computing in energy and utilities.

• Better Inclusion of Alternative Energy Sources: The growing demand for renewable energy generation requires systems at times that require optimization, from solar, wind, hydroelectricity, etc. Quantum computing optimizes how we forecast the next day’s and next hour’s weather and provides more accurate renewable energy production models. Quantum computing improves the incorporation of renewable energy into existing grids and helps improve the balancing of supply and demand, and in doing so, reduces the need for non-renewable resources. The emphasis on cleaner energy systems and climate sustainability will significantly influence the adoption of quantum computing in the energy and utilities sector.

• Cost Optimization and Reduction: Energy systems are complex, including grid systems, generation production, and regulations to consider. Energy systems require constantly optimized integrations of a vast number of systems to reduce costs and ultimately help provide better services to consumers. In theory, quantum computing should help accomplish large-scale optimization processes to improve energy systems across the electricity supply chain in the future.

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• Enhanced Decision-Making and Predictive Analytics: Quantum computing can help to improve predictive analytics by allowing users to analyze vast amounts of data quickly and with the highest degree of accuracy. The energy and utility sectors can leverage quantum predictive analytics to more accurately forecast energy demands, grid stability, and maintenance. Quantum algorithms are also capable of forecasting potential system failures or energy shortages before they happen, allowing them to remedy inefficiencies proactively and mitigate unexpected inhibitors to energy availability. The real-time analytics of quantum computing provide energy and utility operators with increased operational efficiencies, which is essential to the maintenance of reliability in the energy supply chain.

• Support for Smart Grid and IoT Integration: The transition to smart grids, in combination with the increased utility of the Internet of Things (IoT) with energy systems, is creating a powerful need for advanced computational solutions. Quantum computing can facilitate the computational power needed to assist in the integration of IoT devices by analyzing real-time and near-real-time data produced by the IoT devices. Quantum computing can help utilities optimize data from IoT devices to make smart grids responsive and adaptive to even further changing energy demands. As utilities continue to modernize their assets and infrastructure, quantum computing assists with the coordinated operation and scalability of smart grids and IoT systems.

Report Scope

(A free sample of the Quantum Computing in Energy and Utility report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

• Introduction, …

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