Friday, March 31, 2023

The amount of automotive computing will reach $5.203 billion by 2035

The automotive quantum computer market will reach $5.203 billion by 2035 at a CAGR of 49.0% according to Markets

The automotive computing market is projected to grow from $143 million in 2026 to $5.203 billion by 2035, at a CAGR of 49.0% from 2026 to 2035, according to a new report from Markets and Markets. Increased government investment in the development of quantum computing infrastructure and strategic collaborations between OEMs, automotive component manufacturers, and technologists to realize breakthroughs in quantum computing technologies involved in automotive applications are key factors for the growth of this market.

Traffic planning and management is expected to dominate the automotive market by volume

Route planning and traffic management is one of the initial focus areas among automotive players for quantum computing applications. Using real-time data, intelligent simulation and optimization techniques, quantum computing can provide effective route and traffic management, such as traffic modeling and flow, shortest route selection, weather monitoring, etc. Some OEMs have helped automakers with quantum computing technology. providers to develop an efficient roadmap for route optimization and marketing management. In 2019, the Volkswagen Group conducted the world’s first pilot marketing optimization project with a quantum computer from D-wave Systems Inc. conducted in Lisbon, Portugal. The best route planning and marketing management is expected to reduce and reduce transport costs in the last mile of delivery. time to bring In addition, route optimization using quantum computing algorithms can change vehicle and mobility-as-a-service (MaaS) businesses with fleets moving faster in high-demand areas, and drivers can get more bonuses to get more trips.

The Amount Of Automotive Computing Will Reach $5.203 Billion By 2035

The amount of automotive computing will reach $5.203 billion by 2035

OEMs will dominate the automotive computer market during the forecast period

Automotive OEMs will dominate the quantum computing market as some of the auto giants like Volkswagen AG, Daimler AG, BMW Group, Hyundai Motors, Ford Motors and General Motors are early adopters of quantum computing technology for various industrial applications. Technology leaders like IBM Corporation, Microsoft Corporation, Alphabet Inc., etc. are expanding their industry coverage to provide practical use cases. In May 2022, PASQAL and the BMW Group signed a technical cooperation agreement to analyze the applicability of quantitative computing algorithms for metal forming applications. In addition, OEMs are expected to use quantitative computing for applications such as product design, vehicle engineering, materials research, production system optimization, forecasting, supply demand management, and workforce and supply chain optimization. Additionally, revised upcoming emissions standards (for example Euro 7 in Europe) and efforts by regional organizations to reduce carbon emissions at the level of the EV class boosted sales in recent years. Quantum computing can further accelerate the battery innovation process to research new material compositions by examining precise chemical reactions using quantitative simulation techniques within the battery. In addition, quantum computing will also be useful for autonomous vehicles covering various aspects, such as path optimization, object recognition and sensor fusion. Of all possible automotive applications, computing is used for only a few of them. More such developments are expected to appear in the year from global OEMs to shorten the time to launch new products and reduce costs.

“Europe is projected to be the second largest automobile market by 2035.”

According to Markets and Markets analysis, Europe is projected to be the second largest market for automotive computing. The growth of the market is mainly attributed to factors such as increased investment by government bodies and increasing investment by local OEMs on a developing basis for quantum computing in automotive applications. For example, the European Union High Performance Computing Initiative (EuroHPC JU) has planned an investment of almost USD 7.2 billion to develop the computing infrastructure in the coming years. In addition, the European automobile industry is the one that is most affected by the strictness of the emission standards, safety and comfort of vehicles. Vehicles are equipped with ADAS and comfort functions; Because of this, many OEMs prefer advanced lightweight materials in vehicles to reduce vehicle weight and achieve better fuel economy. On top of this, European customers are rapidly switching to electric vehicles to reduce NoX and PM emissions.

Recent developments:

  • In September 2023, Rigetti & Co, LLC released its QCS on the Microsoft Azure Quantum Platform in public preview. Rigetti’s 80-qubit Aspen-M-2 and 40-qubit Aspen-11 superconducting quantum processors are available to all Azure Quantum users to develop and run quantum applications.
  • In January 2023, PASQAL announced the launch of Pulser Studio, a no-code development platform for atom-centered quantum computers. Pulser Studio allows users to graphically construct quantum beams and design pulse sequences without knowledge of coding.
  • In November 2022, IBM Corporation introduced the next generation IBM Quantum System Duo and 400 Qubit-Plus Quantum processors. This process can perform far more complex calculations than can be performed on any classical computer.
  • In November 2022, IBM Corporation released its most efficient quantum computer, which has three times as many qubits as its Eagle machine. This new 433-qubit quantum computer, called the Osprey, is capable of solving previously intractable problems.
  • In November 2022, Amazon released its first natural atomic quantum processor for the Amazon Bracket. This new processor was developed with Qu Era technology and has 256 qubits. This new device is designed to solve optimization problems.

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Thus, the automotive computer market will reach $5.203 billion by 2035 at a CAGR of 49.0% according to the market.

Nation World News Desk
Nation World News Desk
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