Abstract
Summary
The automotive quantum computing market is projected to grow from USD 143 million in 2026 to USD 5,203 million by 2035, at a CAGR of 35.0% from 2031 to 2035. The automotive industry has constantly focused on developing innovative technologies to advance technological expertise within electric and hybrid vehicles, fuel cell optimization, connected mobility, and automated driving features (ADAS). Immense quantum computing capabilities are projected to bring life-changing results across the entire value chain of the automotive industry.
Autonomous & connected vehicles to become the fastest-growing segment during the forecast period
Developments in autonomous vehicles will be significant in the near years. The future adoption of Level 3, 4, and 5 autonomous vehicles could result in passengers spending more time in cars and less time physically driving them. Few surveys suggest that about 90% of these autonomous vehicles will be shared, and 10% will be used for personal commuting. Owing to these advantages, quantum computing can act as a breakthrough advancement to make autonomous vehicles a reality soon with lower error margins. For instance, quantum computing algorithms can rapidly process and calculate huge amounts of data generated from LIDAR, RADAR, & image sensors, and other advanced systems. This would be helpful in training & developing intelligence within the vehicle to operate with little manual intervention. With the help of quantum optimization and simulation algorithms, it is possible to optimize this data in a fraction of the time against traditional computers, which may require years to process. Quantum computing would be useful to provide faster computation and develop meaningful insights for critical areas necessary for proper vehicle functioning. Likewise, Quantum machine algorithms can also detect objects and recognize patterns. They can potentially provide faster and more accurate results, improving the overall performance and safety of the vehicle. Rising applications of quantum computing in autonomous vehicles for different applications, such as route optimization of the autonomous vehicle, integration of data produced by various sensors, 3D object recognition, and cybersecurity, would fuel the growth of quantum computing technology for developing autonomous vehicles.
Software segment to lead the quantum computing market in the automotive industry
The software segment is projected to lead the quantum computing market in the automotive industry by component. With the rising efforts and investments by private and public entities to develop a commercially viable and fault-free physical quantum computer, the advancement in the software environment is also necessary to improve quantum computer performance. As clients from multiple industry industries continue to grow, technology providers would focus on developing sustainable quantum computing software to cater to the upcoming requirements of various industries. According to the "State of Quantum 2022 Report", 66% of companies consider software development a main priority for quantum computing technology. Established companies and multiple start-ups are expected to develop different versions of software platforms that can fill gaps in existing software and enhance the performance of quantum computers. Associated complexity, huge capital investments, and scarcity of qualified professionals required to develop physical quantum computers are expected to limit fewer new entrants in hardware development in the future. Alternatively, this will bring immense growth opportunities for software developers to integrate themselves into the existing stack to develop disruptive software and reap tremendous business revenues in the coming years
Asia Pacific is projected to be the fastest-growing market for quantum computing in the Automotive market by 2035
During the forecast period, Asia Pacific will be the fastest-growing market for quantum computing in the automotive industry. Asia Pacific has emerged as a hub for automotive production in recent years, due to which most automotive OEMs and component manufacturers are based out of Asian countries. China, India, Japan, and South Korea are major vehicle production hubs in the region and have planned some promising considerable to be invested in quantum computing technology. Further few regional players, such as Hyundai Motors and AISIN Group, have started exploring quantum computing capabilities in electric vehicle batteries, autonomous vehicles, and material research. Improving per capita income, changing consumer preferences, and tightening emission norms have further increased competition among the regional players to sustain their market hold. This quantum computing technology can help them remain competitive in the coming years.
In-depth interviews were conducted with CXOs, VPs, directors from business development, marketing, product development/innovation teams, independent consultants, and executives from various key organizations operating in this market.
• By Stake Holders: Demand Side – 20%, Supply Side – 80%
• By Designation: Director Level – 30%, C Level Executives - 10%, and Others - 60%
• By Region: Asia Pacific – 40%, Europe - 20%, and North America – 40%
Quantum computing in the automotive market is led by globally established players such as IBM Corporation (US), Microsoft Corporation (US), Amazon (US), D-Wave Systems, Inc.(US), and Rigetti & Co, LLC (US).
Research Coverage:
The study segments the automotive quantum computing market and forecasts are based on the application type (Route Planning & Traffic Management, Battery Optimization, Material Research, Autonomous, and Connected Vehicles, Production Planning and Scheduling, and others), by deployment type (Cloud, and On-premises), by component type (Software, Hardware, and Services), by Stakeholder type (OEM, Automotive tier 1 and 2, and Warehousing and Distribution), and Region (Asia Pacific, Europe, and Americas).
The study also includes an in-depth competitive analysis of the market's key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall quantum computing in the automotive market and the sub-segments. This report will help to understand the potential applications of quantum computing technology and OEM tie-ups for the use of quantum computing technology for various applications. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. This report will help stakeholders to understand the potential applications and their penetration rate in the automotive industry. This report provides insights on strategic developments by automotive companies in quantum computing technology across short-term and long-term automotive applications. This report will offer the futuristic market potential of various components such as hardware, software, and services, enabling readers to understand market investment areas. The report also helps stakeholders understand the market's pulse and provides information on key market drivers, restraints, challenges, and opportunities.
Table of Contents
1 INTRODUCTION 23
1.1 STUDY OBJECTIVES 23
1.2 MARKET DEFINITION 23
1.3 INCLUSIONS AND EXCLUSIONS 25
1.4 MARKET SCOPE 25
1.4.1 MARKETS COVERED 25
1.5 CURRENCY CONSIDERED 26
1.6 LIMITATIONS 26
1.7 STAKEHOLDERS 26
2 RESEARCH METHODOLOGY 27
2.1 RESEARCH DATA 27
2.1.1 SECONDARY DATA 28
- 2.1.1.1 Key secondary sources for market sizing 29
- 2.1.1.2 Key data from secondary sources 29
2.1.2 PRIMARY DATA 30
- 2.1.2.1 Breakdown of primary interviews 30
- 2.1.2.2 Sampling techniques and data collection methods 31
- 2.1.2.3 Primary participants 31
2.2 MARKET SIZE ESTIMATION 31
2.2.1 TOP-DOWN APPROACH 32
2.2.2 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY- SIDES 33
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 34
2.4 ASSUMPTIONS AND ASSOCIATED RISKS 35
2.4.1 RESEARCH ASSUMPTIONS 35
2.4.2 LIMITATIONS 36
3 EXECUTIVE SUMMARY 37
3.1 REPORT SUMMARY 37
4 PREMIUM INSIGHTS 41
4.1 ATTRACTIVE MARKET OPPORTUNITIES FOR QUANTUM COMPUTING PROVIDERS IN AUTOMOTIVE INDUSTRY 41
4.2 QUANTUM COMPUTING IN AUTOMOTIVE MARKET, BY APPLICATION 42
4.3 QUANTUM COMPUTING IN AUTOMOTIVE MARKET, BY DEPLOYMENT 42
4.4 QUANTUM COMPUTING IN AUTOMOTIVE MARKET, BY COMPONENT 43
4.5 QUANTUM COMPUTING IN AUTOMOTIVE MARKET, BY STAKEHOLDER 43
4.6 QUANTUM COMPUTING IN AUTOMOTIVE MARKET, BY REGION 44
5 MARKET OVERVIEW 45
5.1 INTRODUCTION 45
5.2 MARKET DYNAMICS 46
5.2.1 DRIVERS 46
- 5.2.1.1 Increased government investments 46
- 5.2.1.2 Strategic partnerships and collaborations 49
5.2.2 RESTRAINTS 52
- 5.2.2.1 Stability and quantum error correction issues 52
5.2.3 OPPORTUNITIES 52
- 5.2.3.1 Rise in sales of electric and hybrid vehicles 52
- 5.2.3.2 Advancements in quantum computing technology 53
5.2.4 CHALLENGES 54
- 5.2.4.1 Lack of skilled professionals and infrastructure 54
5.3 IMPACT OF QUANTUM COMPUTING IN AUTOMOTIVE INDUSTRY 55
5.4 PORTER'S FIVE FORCES ANALYSIS 56
5.4.1 THREAT OF SUBSTITUTES 57
5.4.2 THREAT OF NEW ENTRANTS 57
5.4.3 BARGAINING POWER OF BUYERS 57
5.4.4 BARGAINING POWER OF SUPPLIERS 57
5.4.5 INTENSITY OF COMPETITIVE RIVALRY 57
5.5 QUANTUM COMPUTING IN AUTOMOTIVE ECOSYSTEM 58
5.6 SUPPLY CHAIN ANALYSIS 60
5.6.1 ROLE OF STAKEHOLDERS IN SUPPLY CHAIN 60
5.7 CASE STUDIES 61
5.7.1 QUANTUM COMPUTING APPLICATIONS 61
- 5.7.1.1 Pharmaceutical and Healthcare 61
- 5.7.1.1.1 Accenture Labs and Biogen applied quantum computing to accelerate drug discovery 61
- 5.7.1.2 Banking and Finance 62
- 5.7.1.2.1 BBVA and Zapata Computing demonstrated potential to speedup for Monte Carlo simulations for credit valuation adjustments (CVA) and derivative pricing 62
- 5.7.1.3 Aerospace & Defense 62
- 5.7.1.3.1 IonQ and Airbus developed quantum computing solutions for aircraft loading 62
- 5.7.1.4 Automotive Industry 63
- 5.7.1.1 Pharmaceutical and Healthcare 61
5.7.2 DAIMLER AG AND IBM CORPORATION WORKING ON QUANTUM COMPUTING TO UNDERSTAND SIMULATION OF LI-SULFUR BATTERIES 63
5.7.3 BMW GROUP AND PASQAL COMPUTING DEVELOPED QUANTUM COMPUTING SYSTEM TO IMPROVE AUTO DESIGN AND MANUFACTURING 63
5.7.4 HYUNDAI MOTOR COMPANY AND IONQ WORKING ON QUANTUM COMPUTING FOR 3D OBJECT DETECTION FOR AUTONOMOUS VEHICLES 64
5.7.5 VOLKSWAGEN AND GOOGLE TO DEVELOP QUANTUM COMPUTERS FOR MATERIAL RESEARCH AND TRAFFIC MANAGEMENT 64
5.8 KEY CONFERENCES AND EVENTS IN 2022-2023 65
5.8.1 QUANTUM COMPUTING IN AUTOMOTIVE MARKET: UPCOMING CONFERENCES AND EVENTS 65
5.9 REGULATORY STANDARDS 65
5.9.1 P1913 - SOFTWARE-DEFINED QUANTUM COMMUNICATION 65
5.9.2 P7130 - STANDARD FOR QUANTUM TECHNOLOGIES DEFINITIONS 66
5.9.3 P7131 - STANDARD FOR QUANTUM TECHNOLOGIES DEFINITIONS 66
5.10 QUANTUM COMPUTING VS. EXISTING DIGITAL PLATFORM 66
5.11 TECHNOLOGY ANALYSIS 67
5.11.1 DEVELOPMENT OF QUANTUM COMMUNICATION TECHNOLOGY 67
5.11.2 DEVELOPMENT OF ERROR MITIGATION APPROACH AND DYNAMIC CIRCUITS FOR ADVANCED QUANTUM COMPUTING SYSTEM 67
6 QUANTUM COMPUTING IN AUTOMOTIVE MARKET, BY APPLICATION 68
6.1 INTRODUCTION 69
6.1.1 RESEARCH METHODOLOGY 69
6.1.2 ASSUMPTIONS 70
6.1.3 INDUSTRY INSIGHTS 70
6.2 ROUTE PLANNING AND TRAFFIC MANAGEMENT 71
6.2.1 SHOWCASES REAL-TIME VEHICLE TRAFFIC AND TRACKING 71
6.3 BATTERY OPTIMIZATION 72
6.3.1 PROVIDES FAST CHARGING AND LONG DRIVING RANGE 72
6.4 MATERIAL RESEARCH 73
6.4.1 RISING FOCUS ON MATERIAL COMPOSITION FOR ENHANCED PRODUCT DEVELOPMENT 73
6.5 AUTONOMOUS AND CONNECTED VEHICLES 74
6.5.1 INCORPORATES ADAS FEATURES 74
6.6 PRODUCTION PLANNING AND SCHEDULING 75
6.6.1 HELPS IN PRODUCTION SCHEDULING, INVENTORY MANAGEMENT, AND QUALITY CONTROL 75
6.7 OTHERS 76
6.7.1 PROVIDES PREDICTIVE MAINTENANCE AND BETTER SUPPLY CHAIN MANAGEMENT 76
7 QUANTUM COMPUTING IN AUTOMOTIVE MARKET, BY STAKEHOLDER 78
7.1 INTRODUCTION 79
7.1.1 RESEARCH METHODOLOGY 79
7.1.2 ASSUMPTIONS 80
7.1.3 INDUSTRY INSIGHTS 80
7.2 OEM 81
7.2.1 INCREASING TECHNICAL COLLABORATION BETWEEN OEMS AND QUANTUM COMPUTING SUPPLIERS 81
7.3 TIER 1 AND 2 82
7.3.1 INCREASING POTENTIAL APPLICATIONS IN PRODUCT DESIGN AND MATERIAL RESEARCH 82
7.4 WAREHOUSING AND DISTRIBUTION 83
7.4.1 ASSISTS IN SUPPLY CHAIN OPTIMIZATION AND DEMAND FORECASTING 83
8 QUANTUM COMPUTING IN AUTOMOTIVE MARKET, BY COMPONENT 85
8.1 INTRODUCTION 86
8.1.1 RESEARCH METHODOLOGY 86
8.1.2 ASSUMPTIONS 86
8.1.3 INDUSTRY INSIGHTS 86
8.2 SOFTWARE 88
8.2.1 GROWING END USE AND NUMBER OF SOFTWARE STARTUPS 88
8.3 HARDWARE 89
8.3.1 RISING GOVERNMENT AND PRIVATE INVESTMENTS IN QUANTUM HARDWARE 89
8.4 SERVICES 90
8.4.1 INCREASING ACCESS TO CLOUD QUANTUM COMPUTING SERVICES 90
9 QUANTUM COMPUTING IN AUTOMOTIVE MARKET, BY DEPLOYMENT 91
9.1 INTRODUCTION 92
9.1.1 RESEARCH METHODOLOGY 92
9.1.2 ASSUMPTIONS 92
9.1.3 INDUSTRY INSIGHTS 92
9.2 CLOUD 94
9.2.1 EASY ACCESS AND LESS MAINTENANCE 94
9.3 ON-PREMISES 95
9.3.1 GREATER CONTROL OVER QUANTUM HARDWARE AND DATA SECURITY 95
10 QUANTUM COMPUTING IN AUTOMOTIVE MARKET, BY REGION 96
10.1 INTRODUCTION 97
10.1.1 RESEARCH METHODOLOGY 97
10.1.2 ASSUMPTIONS 98
10.1.3 INDUSTRY INSIGHTS: QUANTUM COMPUTING IN AUTOMOTIVE MARKET, BY APPLICATION TYPE 98
10.2 ASIA PACIFIC 99
10.2.1 CHINA 101
- 10.2.1.1 Rising investment in quantum computing 101
10.2.2 INDIA 102
- 10.2.2.1 Rising government support and collaboration with quantum suppliers 102
10.2.3 JAPAN 103
- 10.2.3.1 Growing government investments and launch of new advanced quantum computers 103
10.2.4 SOUTH KOREA 104
- 10.2.4.1 Initiatives by government and automotive OEMs 104
10.3 EUROPE 106
10.3.1 GERMANY 107
- 10.3.1.1 Government initiatives to spread awareness about importance of quantum computing for economy 107
10.3.2 FRANCE 109
- 10.3.2.1 Growing demand for advanced technologies to ensure secure communication in automotive industry 109
10.3.3 UK 110
- 10.3.3.1 Rising preference of OEMs for advanced technology 110
10.3.4 SPAIN 111
- 10.3.4.1 Financial support by government to develop quantum computing 111
10.3.5 ITALY 112
- 10.3.5.1 Rising focus on R&D 112
10.3.6 RUSSIA 113
- 10.3.6.1 Increasing government spending and investments on quantum computers 113
10.3.7 SWEDEN 114
- 10.3.7.1 R&D by universities on quantum computing 114
10.4 AMERICAS 115
10.4.1 US 117
- 10.4.1.1 Increasing government investment and presence of leading suppliers 117
10.4.2 CANADA 118
- 10.4.2.1 Technological advancements by academic institutions, businesses, and government programs 118
10.4.3 MEXICO 119
- 10.4.3.1 Growing demand for quantum computing for various applications 119
10.4.4 BRAZIL 120
- 10.4.4.1 Requires more funding and infrastructure 120
11 RECOMMENDATIONS BY MARKETSANDMARKETS 122
11.1 AMERICAS TO DOMINATE REGIONAL MARKET AND ASIA PACIFIC TO GROW AT FASTEST RATE 122
11.2 KEY FOCUS AREAS TO BE ROUTE OPTIMIZATION, BATTERY OPTIMIZATION, AND AUTONOMOUS AND CONNECTED VEHICLES 123
11.3 CONCLUSION 123
12 COMPETITIVE LANDSCAPE 124
12.1 OVERVIEW 124
12.2 MARKET RANKING ANALYSIS, 2022 124
12.3 REVENUE ANALYSIS OF TOP LISTED/PUBLIC PLAYERS 125
12.4 COMPETITIVE EVALUATION QUADRANT 127
12.4.1 TERMINOLOGY 127
12.4.2 STARS 127
12.4.3 EMERGING LEADERS 127
12.4.4 PERVASIVE PLAYERS 127
12.4.5 PARTICIPANTS 127
12.5 COMPETITIVE SCENARIO 132
12.5.1 PRODUCT LAUNCHES 132
12.5.2 DEALS 136
12.5.3 EXPANSIONS 139
12.6 STRATEGIES ADOPTED BY KEY PLAYERS/RIGHT TO WIN, 2018-2022 141
12.7 COMPETITIVE BENCHMARKING 142
13 COMPANY PROFILES 143
13.1 QUANTUM COMPUTING IN AUTOMOTIVE MARKET - KEY PLAYERS 143
13.1.1 IBM CORPORATION 143
13.1.2 MICROSOFT CORPORATION 148
13.1.3 D-WAVE SYSTEMS INC. 152
13.1.4 ALPHABET INC. 158
- 13.1.4.2 Products offered 159
- 13.1.4.3 Recent developments 160
13.1.5 RIGETTI & CO, LLC 163
13.1.6 ACCENTURE PLC 169
13.1.7 IONQ 172
13.1.8 AMAZON 176
13.1.9 TERRA QUANTUM 180
13.1.10 PASQAL 183
13.1.11 PRODUCTS OFFERED 183
13.2 QUANTUM COMPUTING IN AUTOMOTIVE MARKET - ADDITIONAL PLAYERS 186
13.2.1 QUANTINUUM LTD. (CAMBRIDGE QUANTUM COMPUTING LTD.) 186
13.2.2 INTEL CORPORATION 187
13.2.3 CAPGEMINI 188
13.2.4 ZAPATA COMPUTING 189
13.2.5 XANADU QUANTUM TECHNOLOGIES INC. 190
13.2.6 QUANTICA COMPUTACAO 191
13.2.7 QC WARE CORP 192
13.2.8 ATOM COMPUTING INC. 193
13.2.9 MAGIQ TECHNOLOGIES INC. 194
13.2.10 ANYON SYSTEMS 195
14 APPENDIX 196
14.1 INDUSTRY INSIGHTS FROM EXPERTS 196
14.2 DISCUSSION GUIDE 197
14.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 200
14.4 CUSTOMIZATION OPTIONS 202
14.4.1 QUANTUM COMPUTING IN AUTOMOTIVE MARKET, BY STAKEHOLDER AND DEPLOYMENT TYPE 202
- 14.4.1.1 OEMs 202
- 14.4.1.2 Tier 1 and Tier 2 202
- 14.4.1.3 Warehouse and Distribution 202
14.5 RELATED REPORTS 202
14.6 AUTHOR DETAILS 203