Automotive Quantum Computing Market Size - By Component (Hardware, Software, Services), By Deployment (Cloud, On Premises), By Stakeholder Type (Tier 1 & 2, Warehouse & Distribution, OEM), Application & Global Forecast, 2023 – 2032

Automotive Quantum Computing Market Size

Automotive Quantum Computing Market size was valued at over USD 170 million in 2022 and is anticipated to grow at a CAGR of 35% between 2023 and 2032. The need for advanced technology and the rapidly growing automotive industry will drive the quantum computing industry. Quantum computing technology is evolving; hence, it has the potential to revolutionize the way cars are designed, manufactured, and operated.
 

Quantum computing is an emerging technology that uses the laws of quantum mechanics to solve problems that are too difficult for classical computers. It can be used in the automotive design process to create many improvements such as reducing fuel consumption and increasing fuel efficiency. Although still in its infancy, quantum computing is proving useful for self-driving cars.

Quantum computing is complex, and developing applications for quantum computing requires special skills and knowledge. This can be difficult for companies that do not have resources to invest in the required skills.
 

Automotive Quantum Computing Market Trends

The automotive industry is focused on developing new technologies to increase expertise in electric & hybrid vehicles, fuel cell optimization, connectivity, and autonomous driving, propelling the market growth. Furthermore, the adoption of Level 3, 4, and 5 autonomous vehicles in the future will allow passengers to drive less physically. Some studies suggest that around 90% of these self-driving cars will be shared and 10% will be used for personal travel. For example, quantum computing algorithms can quickly process and calculate large amounts of data generated by LiDAR, RADAR, and image sensors, among other advanced systems. In addition, it is increasingly used for different applications in autonomous vehicles, such as autonomous vehicle optimization, integration of data generated by multiple sensors, approximate 3D object recognition, and automotive cybersecurity, driving the use of quantum computing for the development of autonomous vehicle technology.

Automotive Quantum Computing Market Analysis

The automotive quantum computing market from software segment is expected to hold a significant share during the forecast period. The growing investments by private and public organizations in the development of commercially viable and seamless physical quantum computers and the advancements in the software environment are driving the market growth. Technology providers are focusing on developing sustainable quantum computing software to meet the needs of customers from many industries. Companies and many startups are developing software platforms to fill gaps in the existing software and improve the performance of quantum computers.
 

The cloud segment from the automotive quantum computing market share is expanded at over 35% in 2022. The cloud-based quantum computing platform makes quantum computing resources and expertise accessible to companies of all sizes including startups and small businesses, which may not have the resources to invest in their own hardware and infrastructure. Furthermore, a cloud-based quantum computing platform is more cost-effective than building & maintaining quantum computing hardware and infrastructure in-house, which can be very expensive. These factors and cost-effectiveness of cloud quantum computing are driving market size.
 

The vehicle routing & traffic optimization segment accounted for 20% of automotive quantum computing market share in 2022. Quantum computing can be used to optimize routes for individual vehicles or a group of vehicles, considering factors such as traffic patterns, roads, and weather conditions. Quantum computing can reduce travel time and traffic congestion by developing real-time routes. In addition, more accurate & efficient work and optimization can be made by working on complex and different vehicle types and situations over time.
 

The Asia Pacific automotive quantum computing market will expand at 40% CAGR through 2032. Asia Pacific has become the center of automobile production as most automotive OEMs and manufacturers are located in this region. China, India, Japan, and ANZ are the major automakers in the region and are planning to invest heavily in quantum computing technology. A few players in the region, such as Hyundai Motor and Aisin Group, are starting to explore the potential of quantum computing in electric vehicle batteries, self-driving cars, and data science.
 

Rising per capita incomes, changing consumer preferences, and tightening emission standards have led to increased competition among regional players to maintain their market share. Additionally, the investment portfolio in R&D and strategic alliances will benefit the overall market.
 

Automotive Quantum Computing Market Share

The major companies operating in the automotive quantum computing market include

• Amazon Web Services, Inc.
• D-Wave Systems Inc
• Fujitsu Limited
• Google LLC
• Huawei Technologies Co., Ltd.
• IonQ
• ISARA Corporation
• Microsoft Corporation
• PASQAL
• PsiQuantum
• Q-CTRL
• QC Ware Forge
• QpiAI Tech
• Rigetti Computing, Inc.
• Strangeworks, Inc.
• The International Business Machines Corporation
• Xanadu Quantum Technologies
• Zapata Computing

Automotive Quantum Computing Industry News:

• In April 2021, Volkswagen partners with Google to accelerate development of self-driving cars. Volkswagen announced a collaboration with Google to develop new quantum computing algorithms to improve traffic flow optimization, electric vehicle (EV) battery performance, and autonomous driving technology.
   
• In July 2021, Daimler and IBM team up to develop quantum computing applications for the automotive industry. Daimler AG announced a collaboration with IBM to develop new quantum computing applications for the automotive industry, including improving the design and development of EV batteries and optimizing the efficiency of manufacturing processes.
   

This automotive quantum computing market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032, for the following segments:

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Market, By Component

• Hardware
• Software
• Services

Market, By Deployment Type

• On cloud
• Premises

Market, By Stakeholder Type

• Tier 1 & 2
• Warehouse & distribution
• OEM

Market, By Application

• Food & beverage
• Vehicle routing and traffic optimization
• Autonomous driving
• Battery optimization
• Supply chain management
• Cybersecurity
• Fuel-cell optimization
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • ANZ
  • Singapore
• Latin America
  • Brazil
  • Mexico
• MEA
  • GCC
  • South Africa