Quantum computing in the automotive market is projected to reach USD 5,203 million by 2035 from USD 143 million in 2026, at a CAGR of 35.0% from 2031 to 2035. The increase in demand for electric & hybrid vehicle sales, technological advancements in quantum computing technology in terms of qubit capacity, and rising government and private investments in quantum computing technology will drive the growth of quantum computing in the automotive market.
Quantum computing in automotive has potential applications such as route planning & traffic management, battery optimization, material research, and autonomous & connected vehicles. Increasing investments and technical collaboration of automotive OEMs would drive the demand for quantum computing for the above applications.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=63736889
The cloud-based segment accounted for the largest market share in quantum computing in the automotive market and is likely to grow at the fastest CAGR from 2031 to 2035. The key factors for the growth of cloud-based quantum computing technology are the development of highly powerful systems, ease to access from anywhere, and fewer maintenance requirements. Automotive OEMs and Tier 1 and 2 companies are looking forward to using cloud-based quantum computing solutions owing to less expensive ones without the need for large setup and maintenance. The companies offering their cloud-based quantum services are Amazon Bracket, Azure Quantum, IBM Qiskit, and Rigetti Forest. On the other hand, On-premises and a hybrid deployment of quantum computing require large physical setups of computers and require more maintenance. Moreover, Quantum computing is in the initial stage of development and is susceptible to speedily advancing several hardware and software updates rapidly, due to continuous development activities to make technology more effective and error-free. Thus, the cloud model enables automotive companies to access the latest updates.
Quantum computing software holds the largest market share in 2026 and is anticipated to grow at the fastest CAGR of 37.2% from 2031 to 2035. Quantum computing software has been gaining popularity rapidly in recent years. Many companies are focusing on developing quantum computing software for quantum computers. For instance, D-wave Systems, Inc. announced the general availability of its next-generation quantum computing platform, which incorporates new hardware, software, and tools. Other players, such as IBM, Microsoft, and Rigetti & Co, LLC, offer quantum computing software as a service to their customers. Many startups are entering into software development that can support quantum computers. Continuous investments in the field of quantum computing technology are expected to push the capabilities of this technology to address the real-world problems faced across various industries, including the automotive vertical.
Americas is anticipated to hold the largest market share in quantum computing in automotive market from 2031 to 2035. The region’s dominance can be attributed to the factors like early adoption of quantum technology backed by software and services due to the presence of major technology companies like IBM Corporation, D-wave systems inc., Microsoft Corporation, Rigetti & Co, LLC, and Alphabet Inc. These companies have a technological advantage and ample amount of capital to invest in research and development of quantum computing technology. Further, countries such as the US and Canada are receiving significant support in terms of government funding (alone US spent more than USD 3.5 billion to date) for building the overall quantum computing ecosystem. Major regional automotive players such as Ford Motor Company and General Motors are exploring research and development for critical automotive applications leveraging quantum computing technology with the help of major technology companies such as IBM Corporation, Alphabet Inc., Microsoft Corporation, D-wave Systems Inc., and IonQ. These efforts are expected to bring some real use cases in the automotive industry with breakthrough innovations in the coming years.
Key Market Players & Start-ups
Quantum computing in automotive market is led by globally established players such as IBM Corporation (US), Microsoft Corporation (US), D-Wave Systems, Inc. (US), Amazon (US), and Rigetti & Co, LLC (US). These companies adopted expansion strategies and undertook collaborations, partnerships, and mergers & acquisitions to gain traction in the high-growth market.
Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=63736889
Browse Related Reports:
Artificial Intelligence in Transportation Market – Global Forecast to 2030
Automotive Blockchain Market – Global Forecast to 2030
Automotive Telematics Market – Global Forecast to 2030
