Quantum Computing in Automotive Market worth $3,724.37 million by 2030 - Exclusive Report by 360iResearch

The Global Quantum Computing in Automotive Market to grow from USD 688.33 million in 2022 to USD 3,724.37 million by 2030, at a CAGR of 23.49%.

PUNE, MAHARASHTRA, INDIA, November 17, 2023 /EINPresswire.com/ -- The "Quantum Computing in Automotive Market by Component (Hardware, Services, Software), Technology (Quantum Annealing, Superconducting Qubits, Topological & Photonic), Deployment Type, Application, End-User - Global Forecast 2023-2030" report has been added to 360iResearch.com's offering.

The Global Quantum Computing in Automotive Market to grow from USD 688.33 million in 2022 to USD 3,724.37 million by 2030, at a CAGR of 23.49%.

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Quantum computing has the prospect to revolutionize the automotive industry with its ability to process vast amounts of data quickly. Quantum computing could enable autonomous driving technologies and improve safety on the roads. Its application to the field of cars and transportation promises to accelerate innovation and open up new possibilities for automakers, engineers, and end-users by using innovative algorithms that leverage quantum computing power. Quantum computing also promises to enable faster and more efficient machine learning techniques to develop smarter self-driving cars and reduce energy consumption in electric vehicle propulsion systems. With its immense capacity for data processing, quantum computing stands poised to revolutionize how we experience transportation in the near future. Increased focus on optimizing the energy efficiency of automotive systems, reducing fuel consumption and emissions, and growing focus on enhancing the performance and safety of autonomous vehicles is driving the market growth. Rising government initiatives and investments in the widespread use of hybrid and electric vehicles, together with the growth in strategic alliances and collaborations to enhance automotive quantum computing technologies, are creating possibilities for market participants.

Application: Expanding application of quantum computing in automotive for autonomous & connected Vehicle
Autonomous and connected vehicles rely heavily on artificial intelligence and machine learning to navigate, sense the environment, and communicate with other vehicles. Quantum computing can help train AI models faster and simulate complex driving scenarios to help develop autonomous vehicle software. Quantum computing can help affect the properties of different materials to identify promising candidates for new battery technologies. Quantum computing can help automakers discover and design new lightweight, high-strength materials to improve vehicle efficiency and performance. Simulating the properties of different materials with quantum computing can reduce the time and cost of developing new materials. The complex scheduling and optimization of automotive manufacturing are well suited to quantum computing. By simulating different scenarios, quantum computing can help automakers better predict production times, minimize changeover periods, and identify the most efficient schedules and process flows on their assembly lines. Quantum computing can help develop real-time traffic management systems, predict traffic flows, and find better routes for individual vehicles.

Deployment Type: Increasing popularity of on-cloud deployment of quantum computing in automotive
As the automotive industry experiences an influx of data from connected vehicles and mobility services, the need for scalable and flexible computing infrastructure is rising. Cloud-based quantum computing solutions offer the ability to scale quantum computing power based on demand and accessibility from anywhere with an internet connection. For automakers concerned with data privacy, security, and control, on-premise quantum computers provide an alternative to cloud-based services. However, the high upfront investment to install and maintain quantum systems and infrastructure on-site can be a deterrent, especially when the technology is still emerging. Automakers would need to directly partner with quantum computing companies and providers to build customized on-premise solutions. Comparing the two deployment options, on-cloud quantum computing currently has a lower barrier to access and experiment for automakers, given the elimination of upfront infrastructure costs. On-premise can be the preferred approach if solutions can be developed cost-effectively and with high performance

Technology: Rising utilization of superconducting qubits for quantum computing in automotive
Quantum annealing utilizes quantum fluctuations to find the global minimum of an optimization problem, and it leverages a quantum optimizer to solve complex problems. Auto manufacturers are exploring quantum annealing for applications such as optimizing vehicle routing, improving vehicle performance, and streamlining supply chain logistics. Superconducting qubits are circuits that leverage superconducting materials to create artificial atoms. Automakers are evaluating superconducting qubits for computational fluid dynamics to optimize aerodynamics, modeling molecular interactions for improved battery chemistries, and mapping traffic flows. Topological and photonic qubits are early-stage technologies with limited commercial availability currently. However, they offer promising capabilities for the automotive industry, including robustness to environmental noise and scalability. Trapped ion qubits utilize individual ions confined by electromagnetic fields, and they are well-suited for optimization problems in manufacturing, logistics, and transportation.

Components: Increasing usage of software in quantum computing in automotive to optimize complex systems
The hardware components for enabling quantum computing in automotive include quantum processors, interfaces, and control electronics. Major automotive manufacturers prefer hardware solutions from industry leaders who have demonstrated real-world applications. Quantum computing as a service allows automakers to access quantum computing power without investing in their systems. Automakers can tap into these services to run quantum simulations and optimizations for specific vehicle projects without needing deep quantum computing expertise in-house. Quantum software and algorithms are required to program and run the quantum computers. Companies are developing software platforms and quantum algorithms for chemistry, machine learning, and optimization to benefit automotive applications. Their software can simulate and optimize complex systems with many variables, which is ideal for vehicle design and manufacturing processes. Automakers are working with these companies to develop custom quantum algorithms for their needs.

End-user: Expanding usage of quantum computing by OEMs
Original equipment manufacturers (OEMs) use quantum technology to develop more efficient and cost-effective automotive solutions. Simulating multiple scenarios, processing large amounts of data quickly and accurately, and optimizing production processes provide OEMs with a competitive edge in the market. As a result, these organizations are increasingly exploring the potential of quantum computing for automotive applications such as autonomous vehicles, predictive maintenance, and new material development. However, by leveraging the power of quantum algorithms, warehouses process large amounts of data more efficiently and enable large datasets to inform decisions about product designs or pricing strategies. Distributors with quantum computing provide their customers with unprecedented accuracy, speed, and efficiency when designing components and systems. Furthermore, they leverage quantum computing to develop new products faster and more efficiently. Distributors also use quantum computing to gain a competitive edge over other distributors in the automotive industry by leveraging its ability to solve complex problems that traditional computers cannot handle quickly.

Regional Insights:
The automotive industry is one of the world's most competitive and dynamic markets. Quantum computing has begun to play an ever-increasing role as businesses seek innovative ways to gain a competitive advantage. The automotive market in America is a highly competitive and ever-evolving industry. Automakers are continually looking for new ways to improve their products, and quantum computing presents a potential new avenue of exploration. In recent years, American companies such as Ford, General Motors, and Tesla have become pioneers in developing quantum technology within the automotive sector. Europe has become a significant hub for quantum computing in the automotive industry. Companies such as Audi, BMW, and Volkswagen have invested significantly in the field, exploring ways quantum computing can be applied to automotive engineering and design. The Asia-Pacific region has become an important market for quantum computing in the automotive sector. Countries such as China, Japan, and South Korea have invested significantly in quantum computing research and development in recent years. Japanese companies such as Toyota, Honda, and Mitsubishi have already implemented quantum computing into their product designs and are expected to invest heavily in technology over the next few years.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Quantum Computing in Automotive Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Quantum Computing in Automotive Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Quantum Computing in Automotive Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, Amazon Web Services, Inc., Capgemini Group, ColdQuanta, Inc., D-Wave Quantum Inc., Google LLC by Alphabet Inc., Honeywell International Inc., Intel Corporation, International Business Machines Corporation, IonQ, Inc., Isara Corporation, Microsoft Corporation, Motovis, ORCA Computing Limited, PASQAL SAS, PsiQuantum, Corp., QC Ware Corp., Quantinuum Ltd., Rigetti & Co, Inc., Rigetti & Co, LLC, Terra Quantum AG, Toshiba Digital Solutions Corporation by Toshiba Corporation, Xanadu, and Zapata Computing, Inc..

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Market Segmentation & Coverage:

This research report categorizes the Quantum Computing in Automotive Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Component, market is studied across Hardware, Services, and Software. The Hardware commanded largest market share of 40.12% in 2022, followed by Software.

Based on Technology, market is studied across Quantum Annealing, Superconducting Qubits, Topological & Photonic, and Trapped Ions. The Superconducting Qubits commanded largest market share of 32.71% in 2022, followed by Quantum Annealing.

Based on Deployment Type, market is studied across On-Cloud and On-Premise. The On-Cloud commanded largest market share of 57.63% in 2022, followed by On-Premise.

Based on Application, market is studied across Autonomous & Connected Vehicle, Battery Optimization, Material Research, Production Planning & Scheduling, and Route Planning & Traffic Management. The Autonomous & Connected Vehicle commanded largest market share of 30.27% in 2022, followed by Battery Optimization.

Based on End-User, market is studied across OEM and Warehousing & Distribution. The OEM commanded largest market share of 65.73% in 2022, followed by Warehousing & Distribution.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 40.23% in 2022, followed by Europe, Middle East & Africa.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Quantum Computing in Automotive Market, by Component
7. Quantum Computing in Automotive Market, by Technology
8. Quantum Computing in Automotive Market, by Deployment Type
9. Quantum Computing in Automotive Market, by Application
10. Quantum Computing in Automotive Market, by End-User
11. Americas Quantum Computing in Automotive Market
12. Asia-Pacific Quantum Computing in Automotive Market
13. Europe, Middle East & Africa Quantum Computing in Automotive Market
14. Competitive Landscape
15. Competitive Portfolio
16. Appendix

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Quantum Computing in Automotive Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Quantum Computing in Automotive Market?
3. What is the competitive strategic window for opportunities in the Quantum Computing in Automotive Market?
4. What are the technology trends and regulatory frameworks in the Quantum Computing in Automotive Market?
5. What is the market share of the leading vendors in the Quantum Computing in Automotive Market?
6. What modes and strategic moves are considered suitable for entering the Quantum Computing in Automotive Market?

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Mr. Ketan Rohom
360iResearch
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