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Automotive Quantum Computing Market Trends

  • Report ID: GMI5777
  • Published Date: Aug 2024
  • Report Format: PDF

Automotive Quantum Computing Market Trends

Advancements in electric vehicle batteries are increasingly incorporating quantum computing technologies to enhance performance. Quantum algorithms are being used to optimize battery design, improve energy density, and accelerate the development of new materials. This integration aims to extend driving ranges, reduce charging times, and boost overall efficiency, pushing the boundaries of electric vehicle capabilities.
 

For instance, in December 2022, IonQ and Hyundai Motor Company expanded their partnership to leverage quantum computing for automotive innovation. This collaboration supports advancements in vehicle technology by focusing on optimizing battery chemistry and improving object detection systems for autonomous vehicles, thus enhancing performance and safety in these critical areas.
 

Furthermore, the growing demand for electric and hybrid vehicles is driving the integration of quantum computing technologies to address complex challenges in this sector. Quantum computing is being utilized to optimize battery performance, improve energy efficiency, and enhance vehicle design. As more consumers and manufacturers focus on sustainable transportation, these technologies play a crucial role in advancing electric and hybrid vehicle capabilities.

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

Automotive quantum computing industry size was USD 226 million in 2023 and will grow at 36% CAGR between 2024 and 2032, fueled by the need for advanced computational power to enhance vehicle design, optimization, and autonomous driving technologies.

The cloud-based segment captured 70% share in 2023, propelled by their scalability, cost-efficiency, and ease of access.

North America automotive quantum computing industry registered 40% share in 2023, owing to strong technological infrastructure, substantial investments in quantum research, and the presence of leading automotive and tech companies.

Key players operating in the automotive quantum computing industry are IBM, Google, Microsoft, D-Wave Systems, Rigetti Computing, IonQ, and Quantinuum, among others.

Automotive Quantum Computing Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 19
  • Tables & Figures: 300
  • Countries covered: 25
  • Pages: 250
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