Quantum Sensors Market is Rapidly Due to Increasing Innovations in Quantum Technologies
Research Reports
May 20, 2022
Quantum Sensors Market Overview
The global quantum sensors market is estimated to grow continually in the next few years. Market Research Future (MRFR) asserts that by the end of 2023, the global quantum sensors market is expected to reach USD 300 Million, growing at a 5.49 % CAGR during the review period (2018-2023).
The global quantum sensors market is witnessing substantial growth. Immense advantages of these sensors, such as high accuracy and credibility, make these sensors popular in various industrial domains. Besides, the rising penetration of wearable and smart connected devices boosts the quantum sensors industry. The increasing demand for excellent viewing and hearing experience creates vast market demand.
Rising demand from the automotive, electronics, healthcare and defense sectors drives the quantum sensors market growth. Other major factors bolstering market share include the high adoption of quantum sensors in smart devices and advanced cloud-based technologies used in industrial sectors. Also, augmenting demand from various industry verticals, including smartphones, healthcare devices, and IT & telecom fosters the quantum sensors market size.
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Global Quantum Sensors Market – Segments
The report is segmented into products, verticals, and regions. The product segment is sub-segmented into gravity sensors, atomic clocks, photosynthetically active radiation/ PAR quantum sensors, magnetic sensors, and others. The vertical segment is sub-segmented into oil & gas, automotive, military & defense, healthcare, agriculture, and others. The region segment is sub-segmented into the Middle East & Africa, Americas, Asia Pacific, Europe, and rest-of-the-world.
Quantum Sensors Market – Regional Analysis
Europe heads the global quantum sensors market, witnessing vast demand. Besides, the rising uptake of quantum sensors in the burgeoning military & defense sector in the region boosts the market growth. Government initiatives to encourage investments in developing quantum sensors push market revenues. Additionally, the extensive pool of medical device manufacturers and high healthcare spending in the region induce market opportunities.
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Global Quantum Sensors Market – Competitive Analysis
The quantum sensors market witnesses significant strategic initiatives, such as collaboration, mergers & acquisitions, expansion, and advanced technology integration. Matured industry players make strategic investments in driving research and development activities and expansion plans. The market witnesses several innovative product launches and related technology launch each year.
Major Players:
Players active in the global quantum sensors market include AdSense, Radix, GWR Instruments Inc., Spectrum Technologies Inc., METER Group, Adcon Telemetry Gmbh, Apogee Instrument Inc., Thomas Industrial Network Inc., Microchip, Impedans Ltd., M-Squared Lasers Limited, Skye Instruments Ltd., Biospherical Instruments Inc., and ADVA Optical, among others.
Industry/ Innovation/ Related News:
Oct. 03, 2021 — The National University of Singapore (NUS) and Thales announced signing a MoU to develop quantum security and quantum sensor technologies jointly. The partnership marks the development and test of quantum technologies for commercial applications. Under the MoU, Thales aims to advance quantum technologies and prepare industry players for their arrival.
They would also explore potential research collaboration opportunities in the fields of new materials and design for quantum sensing. The success of this collaboration would also bolster the attractiveness of testbeds and springboards for deploying new quantum technologies. The partnership would accelerate innovations and developments of commercially attractive quantum technologies locally and globally.
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Quantum Sensors Market By Product (Atomic Clocks, Gravity Sensors, Photosynthetically Active Radiation (PAR) Quantum Sensors, Magnetic Sensors), Verticals (Automotive, Oil and Gas, Military and Defense, Agriculture and Healthcare) – Forecast to 2027
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