The quantum computing industry has transitioned from an access phase to a capability era, where early adopters are establishing advantages that later entrants will struggle to overcome, according to the State of Quantum 2026 report. Published by IQM Quantum Computers and researched by The Quantum Insider, the study finds that while 89% of surveyed enterprises are hands-on with quantum, only 3% have reached scaled deployment. This gap highlights the challenge of converting access into usable capability before the anticipated arrival of fault-tolerant systems between 2029 and 2031.

The report introduces the Quantum Readiness Index, scoring the global cohort at 58 out of 100, placing it in the "Developing" tier. This score reflects that while hiring, budget, and pilots are advancing, proprietary output and scaled deployment lag behind. Only 9% of organizations report a resourced intellectual property program. The data indicates that serious buyers are moving past qubit counts to focus on system integration, calibration access, and retaining developed capability.

Investment and Market Dynamics

Capital inflows into quantum computing have surged, with the sector drawing $8.3 billion in investment in 2025, nearly five times the previous year. The report attributes this increase to genuine procurement rather than speculation, driven by larger deal sizes rather than a higher volume of deals. A structural shift toward public markets is evident, with seven quantum computing companies completing SPAC mergers since 2021, and a second wave continuing through 2025 and into 2026.

Barriers and Strategic Shifts

The primary constraint facing the industry is no longer hardware but skills, cited by 66% or more of large enterprises, universities, and government buyers. Algorithm design is the second major barrier. The report notes that workforce training requires two to five years, making immediate action critical for organizations aiming to be ready for fault-tolerant computing.

Procurement criteria are evolving to prioritize openness, calibration access, and co-development quality. Sovereignty requirements in Europe and the Gulf are further reinforcing the need for local data residency and host-country control. The report finds that black-box systems are becoming incompatible with buyers focused on building internal capability.

Vendor Landscape

Based on transaction data from 2021 to Q1 2026, IQM leads vendors with 19% of quantum computing contracts. The company also leads in national high-performance computing (HPC)-quantum deployments between 2025 and Q1 2026, with nine installations across six countries. IQM is currently nearing its planned listing on the Nasdaq Global Select Market through a merger with Real Asset Acquisition Corp.

IQM Quantum Computers Oy hosted its inaugural Capital Markets Day at the Nasdaq MarketSite in New York City on June 15, 2026, outlining its growth strategy and technology roadmap to investors and analysts. The presentation is now available on demand, providing an in-depth look at the company's financial highlights, business strategy, and long-term vision for accelerating the adoption of quantum computing globally. This event marks a significant step as IQM progresses toward becoming a publicly traded company through a proposed business combination with Real Asset Acquisition Corp. (RAAQ).

The leadership team presented on the company's commercial momentum and product roadmap. IQM management highlighted that the company has sold 23 quantum computers to date, a figure it states is more than any other manufacturer. A panel discussion featuring quantum leaders from NVIDIA, Amazon Web Services (AWS), and Cambium Ventures explored customer use cases and market opportunities driving adoption.

Proposed Business Combination

As previously announced, IQM and RAAQ have entered into a definitive business combination agreement. Upon closing, IQM intends to list its American Depositary Shares on the Nasdaq Global Market under the ticker symbol "IQMX." The transaction is expected to close in mid-2026, subject to customary closing conditions and regulatory approvals. Investors can currently invest in IQM by purchasing shares of RAAQ (NASDAQ: RAAQ).

Corporate Overview

IQM Quantum Computers is a global leader in superconducting quantum computers, delivering full-stack quantum systems to research institutions and high-performance computing centers. Founded in 2018 and headquartered in Finland, the company employs more than 400 people and operates across Europe, Asia, and North America. IQM aims to become the first European quantum computing company listed on a major U.S. stock exchange, with a potential dual listing on the Helsinki Stock Exchange under consideration.

The U.S. Securities and Exchange Commission (SEC) declared the Registration Statement effective on June 5, 2026. RAAQ has mailed the definitive proxy statement/prospectus to shareholders as of the Record Date. The final edited webcast of the Capital Markets Day will be posted to the company's investor relations website in the coming days.