IQM's State of Quantum 2025: Quantum Industry Must Solve Talent Shortage and Software Platforms, Not Just Qubits
As quantum computing shifts from theoretical promise to practical integration, the report projects that the global quantum computing market will reach over $22 billion by 2032 as commercial deployments accelerate.
The findings also show that 75% of respondents believe that defining the right applications is the most critical factor for adoption. As Dr. Jan Goetz, Co-CEO and Co-founder of IQM, noted in his foreword, 'Quantum's promise is clear, but fulfilling it requires orchestrated progress across the hardware and software stack—transforming these powerful machines from niche tools into drivers of real-world outcomes.'
The report also argues that progress hinges on synchronising hardware industrialisation with software platform maturity. Today, software development kit fragmentation hampers portability and slows adoption in multi-vendor settings.
HPC, Quantum, and AI Integration
The report also highlights how high-performance computing (HPC), quantum computing, and AI are converging to drive the next wave of growth. According to industry experts, investors, and users across Europe, North America, Asia, and Oceania interviewed, HPC provides the robust infrastructure and orchestration needed to integrate quantum systems into real-world environments, ensuring that quantum and classical resources work in harmony.
This synergy promises to accelerate adoption, amplify returns for early adopters, and transform quantum computing from a niche capability into a trusted part of the broader scientific and industrial toolbox.
'Our interviewees identified three major challenges – one is getting to the level of reliability where quantum computers can be considered industrial products rather than crafted laboratory devices, another is improving the software layer to provide the sort of developer experience we see in the high-level frameworks used for AI, and a third is helping users identify opportunities to benefit from quantum computer and set up their experiments. Interestingly, the interviewees are expecting multiple quantum technologies to co-exist, with a degree of specialisation between them,' said Alexander Harrowell, Principal Analyst, Advanced Computing at Omdia.
Key Findings and Market Trends
Sector Readiness: 57% of survey respondents placed drug-discovery and molecular-modelling workloads as their top quantum priority list, ahead of finance and chemicals.
Funding: After a dip in 2023, venture funding surged again in 2024, with 58% of cumulative quantum venture funding still flowing to North American firms, with average deal sizes ($38M) triple those in Europe ($12M).
Challenges Ahead: Talent shortages in quantum and growth-stage funding outside the US are the two biggest systemic risks to the industry's continued growth.
In addition, the report also calls for three critical priorities to turn these insights into tangible outcomes:
Better Abstraction Layers: Bridging the gap between the physics of qubits and the practical problems that matter to businesses.
Unified Orchestration and Scheduling: Enabling quantum and classical HPC resources to operate seamlessly together.
Cross-Disciplinary Collaboration: Fostering teams that blend quantum expertise, domain knowledge, and software development—creating a new generation of problem-solvers.
Download the full report here: State of Quantum 2025 Report.
About IQM Quantum Computers:
IQM is a global leader in superconducting quantum computers. IQM provides both on-premises full-stack quantum computers and a cloud platform to access its computers. IQM customers include the leading high-performance computing centres, research labs, universities and enterprises which have full access to IQM's software and hardware. IQM has over 300 employees with headquarters in Finland and a global presence in France, Germany, Italy, Japan, Poland, Spain, Singapore, South Korea and the United States.
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Net financial debt(9) stood at 20,764 million euros, compared with 17,819 million euros at December 31st, 2024. Compared with December 31st, 2024, the change in net financial debt is mainly due to: Net Free cash-flow at -451 million euros. The change in net free cash flow is explained by: The increase in EBITDA, of +101 million euros, driven by organic growth and the gains generated by the operational and commercial efficiency plans, as well as by synergies; Net capital expenditure of -1,747 million euros, up -25 million euros compared with June 30, 2024 (+2.2% at current exchange rates). These include the decarbonization projects currently under way in Central and Eastern Europe, as well as investments in hazardous waste projects and PFAS; The -1,171 million euros change in operating working capital. at -451 million euros. The change in net free cash flow is explained by: Financial investments net of disposals of -2,150 million euros following significant acquisitions in the first half, including the purchase of WTS minority interests in June 2025, investments in Hazardous Waste projects in the US, Brazil and Japan in May and June 2025, as well as the acquisition of power flexibility asset in Hungary in January 2025; Issuance of the first green hybrid bond for a net amount of 497 million euros; The payment of dividends approved by the Combined General Meeting of 24 April 2025 for an amount of -1,023 million euros. Net financial debt(10) was also impacted by a favorable exchange rate effect and changes in fair value adjustment of +399 million euros at June 30, 2025. __________________________ Expand Guidance 2025 fully confirmed Solid organic growth of revenue (1) (2) Organic growth (1) of EBITDA between +5% and +6% of EBITDA between +5% and +6% Efficiency gains above €350M complemented by synergies for a cumulated amount raised to €530M end 2025 Growth of current net income Group share (3) of around +9% (4) of around +9% Leverage ratio expected below 3x (3) Dividend growth in line with Current EPS Group share(3) growth (1) At constant scope and forex / (2) Excluding energy prices / (3) Before Suez PPA / (4) At constant forex Expand GreenUp 2024-2027 targets fully confirmed Solid revenue growth (1) Over €8bn of EBITDA in 2027 €350M savings per year ~ 10% (2) annual growth in current net income Group share (3) over 2023-2027 annual growth in current net income Group share over 2023-2027 Leverage ratio ≤ 3x (3) Dividend growth in line with current EPS Group share(3) (1) Excluding energy prices / (2) At constant forex / (3) Before Suez PPA Expand __________________________ Expand Agenda 6 November 2025: 9M 2025 Key figures 25 November 2025: Energy - Inauguration of Poznan cogeneration facility in Poland 26 February 2026: FY 2025 Results Spring 2026: Presentation on Innovation, Technologies and AI Expand __________________________ Expand This press release presents the results for the first half of 2025. The consolidated financial statements and the operating and financial review, as approved by the Board of Directors, in its meeting held on 30 July 2025, are available on Veolia's website at __________________________ Expand ABOUT VEOLIA Veolia group aims to become the benchmark company for ecological transformation. Present on five continents with 215,000 employees, the Group designs and deploys useful, practical solutions for the management of water, waste and energy that are contributing to a radical turnaround of the current situation. Through its three complementary activities, Veolia helps to develop access to resources, to preserve available resources and to renew them. In 2024, the Veolia group provided 111 million inhabitants with drinking water and 98 million with sanitation, produced 42 million megawatt hours of energy and treated 65 million tonnes of waste. Veolia Environnement (Paris Euronext: VIE) achieved consolidated revenue of 44.7 billion euros in 2024. __________________________ Expand IMPORTANT DISCLAIMER Veolia Environnement is a corporation listed on the Euronext Paris. This press release contains 'forward-looking statements'' within the meaning of the provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside our control, including but not limited to: the risk of suffering reduced profits or losses as a result of intense competition, the risk that changes in energy prices and taxes may reduce Veolia Environnement's profits, the risk that governmental authorities could terminate or modify some of Veolia Environnement's contracts, the risk that acquisitions may not provide the benefits that Veolia Environnement hopes to achieve, the risks related to customary provisions of divestiture transactions, the risk that Veolia Environnement's compliance with environmental laws may become more costly in the future, the risk that currency exchange rate fluctuations may negatively affect Veolia Environnement's financial results and the price of its shares, the risk that Veolia Environnement may incur environmental liability in connection with its past, present and future operations, as well as the other risks described in the documents Veolia Environnement has filed with the Autorité des Marchés Financiers (French securities regulator). Veolia Environnement does not undertake, nor does it have, any obligation to provide updates or to revise any forward-looking statements. Investors and security holders may obtain from Veolia Environnement a free copy of documents it filed ( with the Autorités des marchés financiers. This document contains "non‐GAAP financial measures". These "non‐GAAP financial measures" might be defined differently from similar financial measures made public by other groups and should not replace GAAP financial measures prepared pursuant to IFRS standards. __________________________ Expand 1 At constant scope and forex and excluding energy prices 2 At constant scope and forex 3 Before Suez PPA 4 At constant forex 5 12.5% at constant forex excluding 2024 net financial capital gains 6 9.8% excluding 2024 net financial capital gains 7 Main currency impacts: Argentinian peso (-55 million euros), Australian dollar (-50 million euros), US dollar (-28 million euros) and Brazilian real (-27 million euros), partially offset by Polish zloty (+31 million euros) and British pound (+22 million euros). 8 Main currency impacts: Australian dollar (-6 million euros), Argentinian peso (-6 million euros), Chilean peso (-5 million euros), US dollar (-5 million euros) and Brazilian real (-4 million euros), partially offset by Polish zloty (+5 million euros) and British pound (+3 million euros). 9 Before Suez PPA 10 Before Suez PPA
