Enterprise quantum spend in 2025 surpassed the combined total of government and research labs for the first time, per a report from Boston Consulting Group (BCG).

According to the research firm, enterprise users collectively spent $300 million on quantum computing technology last year, pushing the market to about $550 million. The report was based on responses from more than 200 large companies surveyed by BCG.

Additional analysis found that 92 percent of top global finance and insurance firms, 56 percent of top global health care and pharmaceutical companies, and 52 percent of industrial companies have all invested in quantum computing.

These investments range from proof-of-concept projects, vendor partnerships, internal talent hiring, and corporate venture investments, the research firm said. At the end of 2024, BCG saw a 50 percent increase in the number of proofs-of-concept from two years prior, totaling 150 projects across 100 enterprises.

Furthermore, of those enterprises surveyed, more than 60 percent are spending more than $1 million annually on the technology, up 11 percent from BCG’s 2022 survey. According to the research firm, companies found to be investing more than $1m are three times more likely to develop IP and twice as likely to be experimenting with AI or be engaged in a public-private partnership.

BCG said enterprise adoption readiness is one of three drivers that will impact how the market evolves by the end of the decade. Based on its research, the firm said tech breakthroughs and rising enterprise spend demonstrate that 2030 could be a “commercial inflection point,” enabling the quantum market to reach between $2.5 billion and $5bn.

“For CEOs looking to engage with quantum now with an eye on value in the future, it’s important to understand that the companies that define high-value use cases, build translational capability, and actively steer innovation today will be the ones that determine where quantum creates value—and who ultimately captures it,” BCG said.