Quantum Computing in Automotive Market

IBM Corporation (US), D-Wave Systems, Inc (US) and Microsoft Corporation (US) are leading players in Quantum Computing in Automotive Market

The global quantum computing in the automotive market is projected to grow from USD 143 million in 2026 to USD 5,203 million by 2035, at a CAGR of 49.0% from 2026 to 2035. Increasing investments in quantum computing technology for the automotive sector and rising strategic partnerships between automotive OEMs and quantum computing technology providers are the key factors to drive the demand for quantum computing in the automotive industry.

The major companies in quantum computing in the automotive market include IBM Corporation (US), D-Wave Systems, Inc (US), Microsoft Corporation (US), Amazon (US), and Rigetti & Co, LLC (US). These players have adopted new product development as a key strategy from 2018-2022. The quantum computing providers are focusing on the expansion of research centers and investments in R&D to offer technologically advanced and high qubit capacity quantum computers.

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International Business Machine (IBM) Corporation dominates the quantum computing market in the automotive industry. The company provides hosting, infrastructure, and consulting services along with producing and selling system hardware and software. Its technology-based products include quantum computing,  blockchain, Analytics, automation, cloud computing, IT infrastructure, IT management, cybersecurity, and software development solutions. It provides various services, such as cloud, networking, security, technology consulting, application services, business resiliency services, and tech support services. The company offers its products and services to sectors such as automotive, banking, and financial markets, electronics, energy and utilities, healthcare, insurance, life sciences, manufacturing, metals and mining, retail and consumer goods, and telecommunications. IBM Corporation has a strong focus on R&D investments. In 2021, the company invested around 11% of its revenue in new technology developments such as quantum computing and artificial intelligence. It has partnered with several OEMs for the use of quantum computing in the automotive industry.

D-wave Systems, Inc. is another major player in the market engaged in developing and providing quantum computing hardware and software. It provides a whole stack of systems, software, developer tools, and services to help companies, governments, research facilities, and academic institutions access the power of quantum computing. The company serves major customers such as Google, NASA, Denso Corporation, Volkswagen AG, and Lockheed Martin. To expand its presence in quantum computing, the company strongly focuses on collaboration strategies. In 2019, the company formed a technical collaboration with Google and Volkswagen AG to build a traffic management system using quantum computing technology. The company has an operational presence in different regions, such as US, Europe, and Asia.

Microsoft Corporation provides software development, licensing, and support services to various end users. The company provides a wide variety of operating systems, server applications, cross-device productivity tools, business solution tools, desktop and server administration tools, video games, and training & certification services. It designs,  develops, and markets hardware items like PCs, tablets, game consoles, and other sophisticated gadgets. Microsoft Corporation services include consultancy, cloud-based solutions, quantum computing, and solution support. The company develops, distributes, and sells its product through original equipment manufacturers, distributors, resellers, online marketplaces, Microsoft stores, and other partner channels. The company strongly focuses on advanced technology, such as quantum computing, for the automotive industry. Microsoft Corporation and Mercedes Benz (Germany) entered a collaboration to increase efficiency, resilience, and sustainability in car production using quantum technology. It focuses on advanced mobility services such as autonomous vehicles and connected vehicles.

Related Reports:

Quantum Computing in Automotive Market by Application (Route Planning & Traffic Management, Battery Optimization, Material Research, Production Planning & Scheduling), Deployment, Component, Stakeholder & Region - Global Forecast to 2035

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Quantum Computing in Automotive Market Size,  Share & Growth Report
Report Code
AT 8591
RI Published ON
3/3/2023
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