Quantam Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Quantam Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Report Digest
Global market for quantum sensors is expected to have a significant growth in 2021, over 2020 registering a steady CAGR. Features such as accuracy and credibility are making this technology to come in demand.
Quantum sensor is a device which has quantized energy levels using quantum coherence to measure a physical quantity. Properties of quantum mechanics such as quantum entanglement, interference and state squeezing are utilized in devices. These are a class of sensors offering high level of sensitivity based on the properties of quantum mechanics. Quantum sensors provide highly stable and accurate frequency standards.
Growth of IoT and AI may fuel the market
Miniaturization of sensors, rising developments in IoT and emerging trends in AI are the reasons of its significant growth in the market. There is a rise in adoption of quantum sensors in various electronics and mechanical fields. Its use in sensors such as rotational, imaging, motion, gravity, etc. make them the most demanding device in today’s automotive world.
Complexities in quantum sensors
Quantum sensors being very sensitive can manipulate the records just by little bit of change in the sorroundings. Thus, the challenge is to isolate the quantum sensors from external disturbances. The problem of sensitivity can potentially be a factor for inhibition in the growth of quantum sensors.
Competitive Landscape
- Adsense
- Radix
- METER Group
- Adcon Telemetry Gmbh
- Microchip
- Impedans
- Apogee Instrument Inc
- ADVA
- Thomas Industrial Network Inc
- Technology (Microsemi)
- GWR Instruments
- Skye Instruments Ltd.
Recent developments
- University of Nottingham in December 2020 has announced its partnership with Magnetic Shields Limited to launch a spin out company, namely, Circa Magnetics Limited for bringing the world’s most advanced functional brain scanner in the market. Researchers have been working on the technology from past 5 years.
- Rafael Advanced Defense Systems Ltd., a defense technology company announced in December 2020 about its investments in quantum sensors. The company aims to improve existing sensors on the battle field, solution for GPS-denied environments.
- In November 2020, TRUMPF, a German Company announced its partnership with sensor specialist SICK (another German company) to develop quantum optical sensors. The functional tests of quantum optical sensor have been performed by the companies after which the collaboration began.
Regional Outlook
Europe has been the dominating market of quantum sensors since 2017. Rising demand for quantum sensors and escalating military and defense sector are the factors which contribute in significant growth. UK was one of the early movers in quantum sector and now the demand is surging. Focus on applications in geophysics, navigation, brain imaging, and precision timing has led to create significant impact on quantum sensors market.
North America is the second leading region owing to its use in medical sector. Spending on healthcare infrastructure and latest technologies adapted by US is the major factor driving the growth.
Segmentation
Based on Product
- Atomic Clocks
- Magnetic Sensors
- PAR Quantum Sensors
- Gravity Sensors
Based on Application
- Military and Defense
- Automotive
- Medical
Based on Region
- North America
- Europe
- Asia Pacific
- Rest of the World
Key Questions Answered
- Which application can be the root cause of growth of quantum sensors?
For its precision and accuracy, its demand in medical sector can be the uplifting factor for its growth.
- How covid-9 impacted the growth of quantum sensors?
Delay in industrial work, shut down of various electronic and mechanical industries affected the market negatively. The lockdown imposed caused supply chain disruption, massive fall in economy, etc. slowed down the quantum mechanics market.
- List the manufacturers of RF equipment system.
Adcon Telemetry Gmbh, Microchip, Impedans, Apogee Instrument Inc, ADVA are some of the companies focussing on research and developments in quantum sensors.
- Classify quantum sensors based on products.
Atomic Clocks, Magnetic Sensors, PAR Quantum Sensors, Gravity Sensors.
- Which region to hold the largest market value during the forecast period?
Europe is the leading market presently and is projected to grow during the forecast period 2021-2031 too owing to escalating military and defense.
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