Quantum Computing In Automotive Market Growth Analysis With Investment Opportunities For 2024-2033
The Business Research Company’s Quantum Computing In Automotive Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UK, July 31, 2024 /EINPresswire.com/ — The quantum computing in automotive market has experienced robust growth in recent years, expanding from $0.28 billion in 2023 to $0.35 billion in 2024 at a compound annual growth rate (CAGR) of 25.4%. The growth in the historic period can be attributed to increased government investments, increased focus on optimizing the energy efficiency of automotive systems, increased usage of software, increased adoption of personal autonomous vehicles, rise in automotive industry.
Strong Future Growth Anticipated
The quantum computing in automotive market is projected to continue its strong growth, reaching $0.88 billion in 2028 at a compound annual growth rate (CAGR) of 25.6%. The growth in the forecast period can be attributed to rising investment by automotive companies, rising sales of electric and hybrid electric vehicle, increasing complexity of automotive systems, growing focus on enhancing the performance and safety of autonomous vehicles, increasing adoption of shared autonomous vehicles.
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Growth Driver Of The Quantum Computing In Automotive Market
The rise in electric and hybrid electric vehicle sales is expected to propel the growth of quantum computing in the automotive market going forward. Electric vehicles (EVs) are automobiles powered by electricity alone, utilizing electric motors for propulsion and rechargeable battery packs as their primary energy source. Hybrid electric vehicles (HEVs) combine an internal combustion engine, typically gasoline-fueled, with an electric propulsion system. Electric and hybrid electric vehicles (HEVS) utilize a combination of an internal combustion engine and an electric propulsion system.
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Major Players And Market Trends
Key players in the quantum computing in automotive market include Amazon.com Inc., Volkswagen AG, Google LLC, Microsoft Corporation, Ford Motor Company, General Motors Company.
Major companies operating in quantum computing in the automotive market are collaborating to develop fast-track sustainable mobility, such as hybrid quantum-classical workflow using cutting-edge quantum computers. A hybrid quantum-classical workflow is a computational approach that integrates quantum computing with classical computing to solve complex problems more efficiently than either type of computing could.
Segments:
1) By Component: Hardware, Services, Software
2) By Technology: Quantum Annealing, Superconducting Qubits, Topological And Photonic, Trapped Ions
3) By Deployment Type: On-Cloud, On-Premise
4) By Application: Autonomous And Connected Vehicle, Battery Optimization, Material Research, Production Planning And Scheduling, Route Planning And Traffic Management
5) By End-User: Original Equipment Manufacturer (OEM), Warehousing And Distribution
Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the quantum computing in automotive market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the quantum computing in automotive market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Quantum Computing In Automotive Market Definition
Quantum computing in the automotive industry refers to applying quantum computing technologies and principles to solve complex problems and optimize processes within the automotive sector. Quantum computing leverages the principles of quantum mechanics to process information in fundamentally different ways compared to classical computers, allowing for potentially exponential increases in computational power.
Quantum Computing In Automotive Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Quantum Computing In Automotive Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on quantum computing in automotive market size, quantum computing in automotive market drivers and trends, quantum computing in automotive market major players, quantum computing in automotive competitors’ revenues, quantum computing in automotive market positioning, and quantum computing in automotive market growth across geographies. The quantum computing in automotive market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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