The global quantum sensors market to increase from US$ 435.7 million in 2020 to US$ 839.6 million by 2028 with a compound annual growth rate (CAGR) of 8.5% for the period 2021-2028. Quantum technology has received a lot of attention due to its enormous potential. Significant investment is being seen globally as this technology continues to grow and show promising results. Financial risk assessment, the development of novel drugs, machine learning models, and the efficiency of chemical catalysts are all expected to see significant breakthroughs in the near future. As governments, academics, and businesses around the world rush to invest in this new era of quantum technology, quantum sensors are an essential component of the wave of innovation. Improving these devices could lead to technological advances that scientists have not yet predicted, such as more powerful computers and better disease detectors. One of the first widely used quantum technology applications was the precise measurement of time. The technology is expected to provide significant economic benefits now that it has entered Earth's orbit. Atomic clocks have the potential to be extremely useful for a new generation of communication or navigation satellites. In order for quantum technologies to be fully commercialized, quantum science must be translated into a quantum technology market based on return on investment. This could be accomplished through a variety of means, including public-private partnerships and industrial-academic collaboration, many of which would require government assistance. The desire to significantly improve both physical and digital infrastructure will drive this. Finally, it is necessary to gain a better understanding of how quantum technology will benefit society.
Researchers are using entangled photons to transmit data between two nodes using the quantum entanglement principle, with the receiver holding half of the entangled photons and the sender holding the other half. Thus, communication is enabled by manipulating these photons, which results in a change in the corresponding photons that is instantaneous. One advantage is that it contributes to the development of an unhackable communication system in which any attempt to intercept or eavesdrop on the information results in particle disentanglement. This would change the message and alert the hacker to the hacking attempt. Despite the fact that its current applications are limited, it has been successfully used in quantum key distribution. Because entangled photons can send information quickly, this method of communication is also faster than traditional methods. Entanglement, on the other hand, is subject to the no-cloning theorem and decoupling, preventing long-distance communication. Nonetheless, scientists and researchers are employing quantum repeaters to combat and resolve this issue.
Quantum sensors are sensors that use quantum correlations, such as quantum entanglement and quantum de-coherence, to produce higher resolution or sensitivity than traditional systems. A quantum sensor can assess the impact of another system's quantum state on itself. These sensors use quantum correlations to obtain readings that are beyond the capabilities of ordinary sensors. Quantum sensor technology offers promising commercial opportunities in the coming years, with the industry expected to benefit from increased government support for quantum technology. Because of characteristics such as high credibility and accuracy, this technology is gaining traction in a variety of industries. Quantum technologies, such as quantum cryptology and quantum cryptography, are finding a wide range of commercial applications. Furthermore, it is expected that future technologies such as quantum photonics will lead to the development of new types of sensor devices in the coming years.
The market for quantum sensors is expected to grow rapidly between 2020 and 2028, according to projections. Increased demand from a wide range of application sectors, such as automotive, military, and Internet of Things (IoT) networks, as well as significant global R&D activity, will be the primary drivers of this expansion. Furthermore, the market for quantum sensors is expected to grow at an exponential rate due to the wide range of applications. This research has identified a wide range of industries where quantum sensors could have a significant impact. With the participation of the most recent technological advances, the market is expected to expand its operations and applications around the world.
Atomic clocks had the highest market share of any product type in 2018. The gravity sensors industry, on the other hand, is expected to grow at the fastest rate during the forecast period. Quantum gravity sensors have piqued the interest of researchers as potential tools for subsurface mapping. Because quantum gravimeters can measure gravity with high precision, they could be used to discover groundwater reserves, mineral, oil, or gas deposits, or in civil engineering applications. They can be used underwater or underground when satellite navigation fails, and they can even be deployed from space in place of local ground-based units. NASA has installed a coldatom device on the International Space Station to examine all of the potential connected to quantum gravity sensors and more. The Cold Atom Laboratory, dubbed "the coolest experiment in space," utilises cold atoms to make precise gravity measurements.
The market for PAR quantum sensors is expected to grow at a rapid pace as well. PAR quantum sensors could be widely used in a variety of outdoor and greenhouse applications to study plant development under variable PAR levels. Increased investment in plant research is expected to drive up demand for these sensors throughout the forecast period. With increasing demand for available agricultural land, it is critical to improve crop quality and yield while working with limited space and resources. Furthermore, scientists and researchers have been compelled to detect and measure PAR levels in a variety of agricultural, cultivation, and forest areas due to ongoing climate change. PAR quantum sensors offer researchers a viable solution for detecting and measuring PAR levels in received sunlight at any time of day. To measure PAR levels over a large area, researchers all over the world have used multiple lines and single sensors connected into a network. Other large-scale end users rely on integrated PAR detection solutions that can be used in a variety of applications. While designing and developing their products, companies that provide PAR detection solutions have been observed to collaborate closely with several quantum sensor providers.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. North America is a quick adopter of technological advances, and the quantum sensors industry has quickly established a strong foothold in the region. However, the Asia-Pacific region is expected to have a sizable market for quantum sensors. Artificial intelligence, IoT, and connected cars are among the most in-demand advanced technologies. This will be a driving factor and will provide attractive potential for the growth of the Asia-Pacific quantum sensors market. Japan and China are expected to produce the most demand in this sector during the analysis period.
Some of the companies are AOSense, Apogee Instrument Inc., Campbell Scientific Ltd., GWR Instruments Inc., LI-COR, Inc, M Squared Laser Ltd., Microsemi Corp., Muquans SAS, Robert Bosch GmbH and Sea-Bird Scientific.
Quantum Sensors Market - Scope of the Report
- Quantum Sensors Market, by Product Type
- Atomic Clocks
- Magnetic Sensors
- PAR Quantum Sensors
- Gravity Sensors
- Quantum Sensors Market, by Application
- Agriculture
- Automotive
- Healthcare
- Military and Defense
- Oil and Gas
- Others
- Quantum Sensors Market, by Region
- North America
- The U.S.
- Canada
- Europe
- Germany
- The U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- The Middle East and Africa
- GCC
- South Africa
- Rest of the Middle East and Africa
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- North America
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