Quantum computing is seen to be on the rise based on recent years’ growth. Breakthroughs in recent years that made technology affordable have enabled to make the shift possible from being a mere theory to actual practical applications.
The market value of QC in the upcoming year by 2035 is estimated be roughly around between 32-52 Billion Dollar Industry. The major application of QC includes various aspects such as material research, route optimization and other aspects too.
In the year 2008 IBM had drawn the attention of the masses to tech world by introducing them to their creation Q System One Quantum computer, whereas the organization D Wave Technologies announced their QC Chip with a new improved performance of 5,000 qubits compared to a former chip which only had a capacity of 2,00 qubits.
As per the recent report from the company McKinsey we can state that both the automotive as well as transportation sectors didn’t waste any time and were fast enough to capitalize on the potential of QC and also proven us the efficiency of said technology with the aid of several pilots.
Many of the Original Equipment Manufacturers along with Tier one suppliers are gradually discovering the benefits that this technology will add to their industry mainly by resolving the current prevalent issues related to the problems of route optimization, material durability, and fuel cell optimization.
In the previous year, the automotive giant Volkswagen had partnered with D Wave Technologies and were able to demonstrate an efficient traffic management system. This was displayed in the year 2019 at Web Summit in Lisbon.
Many significant investments can be seen being made in recent years one of them being by Bosch the German supplier acquiring a stake in Zapata Computing a Massachusetts-based quantum start-up. This played as a huge contribution to Series A Investment being worth 21 million US Dollars.
The major potential of QC can be stated as it’s worth being more than billions of dollars in value as OEM’s and automotive stakeholder are trying to hone onto this market niche whilst developing a clear QC Strategy.
Hence one may clearly say that Quantum Computing while been very relevant in the upcoming future of the automobile industry.
