Automotive Quantum Computing Market Report 2024 - Automotive Quantum Computing Market Share, Size and Industry
The automotive quantum computing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Quantum Computing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive quantum computing market size has grown exponentially in recent years. It will grow from $0.14 billion in 2023 to $0.18 billion in 2024 at a compound annual growth rate (CAGR) of 31.3%. The growth in the historic period can be attributed to automotive innovation, demand for enhanced simulation and modeling, growing complexity of automotive systems, rising focus on cybersecurity, collaborative research initiatives, regulatory pressure and emissions reduction, competitive landscape, and market differentiation.
The automotive quantum computing market size is expected to see exponential growth in the next few years. It will grow to $0.55 billion in 2028 at a compound annual growth rate (CAGR) of 31.4%. The growth in the forecast period can be attributed to autonomous vehicle development, connected car ecosystem, electric vehicle optimization, advanced materials development, cybersecurity enhancement, supply chain optimization, regulatory compliance and sustainability, industry collaboration, and partnerships. Major trends in the forecast period include technological advancements, R&D investments, partnerships and collaborations, market expansion, regulatory considerations, integration with electric vehicles, focus on cybersecurity, market competition, and commercialization of quantum solutions.
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Scope Of Automotive Quantum Computing Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Automotive Quantum Computing Market Overview
Market Drivers –
The growing demand for electric vehicles is expected to propel the growth of automotive quantum computing going forward. Electric vehicles refer to automobiles powered by electric motors, using rechargeable batteries or other energy storage systems rather than traditional internal combustion engines. The growing demand for electric vehicles is driven by concerns over environmental sustainability and advancements in battery technology. Automotive quantum computing enhances electric vehicles’ efficiency through advanced optimization algorithms and battery management. Quantum algorithms can also analyze traffic patterns, population density, and energy demand to identify optimal locations for charging stations. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, electric car sales set a new high in 2021, increasing by 4%. EV sales nearly doubled to 6.6 million compared to 2020, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, the growing demand for electric vehicles is driving the growth of the automotive quantum computing market.
Market Trends –
Major companies operating in the automotive quantum computing market are expanding their partnerships to gain a competitive edge in the market. Automotive quantum computing partnerships involve collaborations between automotive companies and quantum computing technology providers to explore, develop, and implement quantum computing solutions within the automotive industry. For instance, in December 2022, IonQ, a US-based quantum computing hardware and software company, expanded its partnership with Hyundai Motor Company, a South Korea-based automotive company, to use quantum computing to improve various aspects of the automotive industry. The partnership aims to create the largest battery chemistry model yet to be run on a quantum computer, simulating the structure and energy of lithium oxide. This research will lay the groundwork for improving the performance, cost, and safety of lithium batteries, which are typically the most expensive component of an electric vehicle.
The automotive quantum computing market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Deployment: Cloud, On Premises
3) By Stakeholder Type: Tier 1 And Tier 2, Warehouse And Distribution, Original Equipment Manufacturer (OEM)
4) By Application: Vehicle Routing, Heat And Mass transfer, Fluid Dynamics, Electromechanical Systems, Route Optimization, Improved Battery Materials, Material Durability, Fuel-cell Optimization, Autonomous Driving, Predictive Maintenance
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Regional Insights –
North America was the largest region in the automotive quantum computing market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive quantum computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the automotive quantum computing market are Google LLC, Amazon Web Services Inc. , The International Business Machine Corporation, Anyon Systems Inc., PsiQuantum, Xanadu Quantum Technologies, Quantum Machines, PASQAL SAS, Terra Quantum, Rigetti Computing, IonQ, Cambridge Quantum Computing (CQC), ISARA Corporation, QC Ware Forge, Classiq Technologies, D-Wave Systems Inc., Quantinuum Ltd, Zapata Computing, QpiAI Tech, Multiverse Computing
Table of Contents
1. Executive Summary
2. Automotive Quantum Computing Market Report Structure
3. Automotive Quantum Computing Market Trends And Strategies
4. Automotive Quantum Computing Market – Macro Economic Scenario
5. Automotive Quantum Computing Market Size And Growth
…..
27. Automotive Quantum Computing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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