Quantum computing may seem like some far-off technology that will never come about, but that's just not the case. There are several companies with early-stage quantum computers that are producing real results for clients, and could easily expand into more mainstream usage as the technology improves and computer size expands.
The current timetable for many quantum companies is around 2030, with major market expansion occurring by 2035. McKinsey & Company estimates that the annual quantum computing market could be worth up to $72 billion by 2030, leaving a huge market opportunity available for those who can seize it.
One betting favorite is IonQ (IONQ 4.13%), as it's currently the worldwide leader in one of the most critical areas: accuracy. With IonQ holding a world record in this field, it's a favorite to make it to the finish line, and it could make investors a fortune along the way.
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IonQ's approach to quantum computing is different than its peers
As alluded to above, IonQ holds the world record in 2-qubit gate fidelity, a measurement that ensures the answer is correct after processing through two processing gates. Most companies struggle to reach 99.9% fidelity, but IonQ holds the record at 99.99%. While that's only an extra 0.09%, that is a ton in the quantum computing world. It's the difference between making one error out of every 1,000 operations or one error in every 10,000 operations.
IonQ has achieved this by using a unique architecture in its devices. Instead of a supercooling setup like many use, IonQ utilizes trapped-ion technology. This is inherently more accurate, although the trade-off is slower processing speeds. Still, the computing advantage that quantum provides is easily enough to justify these slower speeds.
NYSE: IONQ
Key Data Points
Because of IonQ's advantages, it's becoming a popular partner among other companies. IonQ's revenue is soaring; the company reported a 755% growth rate during its most recent quarter. That spike comes from a few reasons, including acquisitions, a system sale, and several new partnerships. Still, when only organic growth is considered (the business IonQ had during its comparative period), it is expected to deliver 100% or better growth for 2026. That's a strong sign and showcases that IonQ is truly a leader in a potentially massive field.
There's no way of telling if IonQ will maintain its leadership position or if demand for quantum computing will be as high as McKinsey estimates. If IonQ could achieve a dominance level similar to Nvidia has in its field, then IonQ could secure a massive chunk of the projected $72 billion market. That would make early-stage investors tons of money. However, if it fails to do this, then the stock could plummet. As a result, IonQ is a fairly risky stock, so investors should size their positions accordingly.
