Global quantum sensors market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 5.49% during the forecast period.
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
A quantum sensor is a quantum sensing device using quantum coherence to measure a broad range of physical quantities of both dynamic and static types having quantized energy levels. Quantum sensing covers the motion such as rotation, gravity and acceleration and magnetic and electric fields, and imaging.
Increasing investments in quantum technology by various market players and growing research and development activities in the field of quantum sensing are major driving factors behind the growth of the market. Growing adoption of quantum sensing solutions in various industries and applications such as material science and quantum physics, increasing developments of quantum gravity sensors, rising demand of quantum sensors to monitor volcanoes to give advanced warning of volcanic activity, a surge in the adoption of quantum sensors in cars to detect pedestrians 100m away or a few metres away and increased demand of quantum sensor from military and defence industry is expected to improve the growth of the market during the forecast period. The Quantum sensor provides some benefits such as high sensitivity, high precision, and measurement of various physical quantities, which are ultimately propelling the growth of the market.
However, challenges such as quantum decoherence, the inconsistency between separating the responsive quantum states from external conflicts, and reliance on only some key providers are major restraining factors that could hamper the growth of the market.
Global Quantum Sensors Market: Segmentation Analysis
By industry, the military and defence segment dominated the market in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. Increasing demand for quantum sensors from the military sector and increasing research and development activities by the military sector in the field of quantum sensing is driving the growth of the market. For instance, in October 2018, the US Army scientists created innovative quantum sensors to detect the communication signals over the radio frequency spectrum. This quantum sensor uses high energized, super-sensitive atoms named as Rydberg atoms. This quantum sensor provides military soldiers an approach to sense communication signals over the wide spectral coverage range from 0 to 100 GHz. Nowadays, quantum sensing technology transforming numerous areas for the military sector, from delivering highly precise positioning information to discovering submarines in the world’s oceans, which is further expected to improve growth of market during the forecast period.
Global Quantum Sensors Market: Regional Analysis
Region-wise, Europe held the largest market share in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. The UK, Germany, and France are major key contributors behind the growth of the market. Development in quantum technologies is the priority and main agenda of many European countries.
Increasing research programmes, developments, and investments focusing on major quantum technologies such as quantum computing, quantum communications, quantum sensing, quantum simulation, and quantum metrology is driving the growth of the market in the region. Growing initiatives such as a flagship initiative on quantum technologies to improve quantum computing infrastructure across the region are further propelling the growth of the market. The Quantum Technologies Flagship intends to place the Europe region at the front position of the quantum revolution by fetching innovative advances to science, society, and industry.
The objective of the report is to present a comprehensive analysis of the Global Quantum Sensors Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Quantum Sensors Market dynamics, structure by analyzing the market segments and projects the Global Quantum Sensors Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Quantum Sensors Market make the report investor’s guide.
The Scope of Global Quantum Sensors Market
Global Quantum Sensors Market, By Product
• Atomic Clocks
• Photosynthetically Active Radiation (PAR) Quantum Sensors,
• Gravity Sensors
• Magnetic Sensors
Global Quantum Sensors Market, By Industry
• Military and Defense
• Oil and gas
Global Quantum Sensors Market, By Region
• North America
• Asia Pacific
• South America
• Middle East and Africa
Global Quantum Sensors Market, Key Players
• GWR Instruments Inc
• Technology (Microsemi)
• Networking (Oscilloquartz)
• Spectrum Technologies Inc
• METER Group
• Adcon Telemetry Gmbh
• Apogee Instrument Inc
• Thomas Industrial Network Inc
• Impedans Ltd
• M-Squared Lasers Limited
• Skye Instruments Ltd
• Biospherical Instruments Inc
• ADVA Optical
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