Quantum Sensors Market Report 2022: Increasing Investments in Development of Quantum Technologies Driving Growth

DUBLIN, Nov. 15, 2022 /PRNewswire/ -- The "Quantum Sensors Market by Product Type (Atomic Clocks, Magnetic Sensors, PAR Quantum Sensors, Gravimeters & Accelerometers), Application (Aerospace & Defense, Oil & Gas, Agriculture, Automotive, Mining, Healthcare) and Region - Global Forecast to 2027" report has been added to  ResearchAndMarkets.com's offering.

The global quantum sensors market size is estimated to grow from USD 260 million in 2022 to USD 565 million by 2027, at a CAGR of 16.8%. Quantum sensors measure physical quantities with the help of quantum technology or quantum states. They are based on the principle of superposition of atoms, providing extreme sensitivity. Quantum sensors are being used in some of the most crucial applications, such as space navigation and gravity measurements.

Gravimeters & Accelerometers to hold significant share of quantum sensors market in 2027

The gravimeters detect the amount of force exerted by the earth on the surface, i.e., gravity. Even though gravity is the same in all places, there are some minuscule differences in the gravitation force, which are caused due to the different densities of rock, underground materials, and the earth's core. The gravimeters can detect these minute gravity changes on the earth's surface. The conventional gravity meter contains mass, which is held over a spring - changes in the gravitational force are detected by changes in the position of the mass. However, the spring is subjected to stretch if the ground vibrates, which must be recalibrated from time to time. The traditional gravity meters are sensitive, but the quantum gravimeters have an advantage over them. As if the ground vibrates, the whole system moves as one, as there is no involvement of spring. The quantum gravimeters measure gravity much faster than the traditional ones. The traditional gravimeters are huge in dimensions, heavy, and are to be left out of place for a longer time for the measurements.

Agriculture & Environment applications to fuel the demand of quantum sensors

Quantum sensors have an excellent opportunity in the agricultural sector. The quantum sensors are used to measure the photosynthetically active radiation (PAR), which is beneficial to crop yield. The PAR is a crucial variable and indicator in determining plant growth and production. The long-time data of PAR are used to evaluate plant photosynthesis in the agriculture industry. Farmers, agriculturists, researchers, marine biologists, and others can use these PAR quantum sensors to monitor and increase crop growth. The quantum PAR sensors can be used in open spaces and canopies, and also some of them are available to be used for underwater monitoring. For instance, Apogee Instruments, Inc. provides PAR quantum sensors specifically to be used in agricultural and underwater Photosynthetic Photon Flux Density (PPFD) measurements, which help grow plants and corals. The PAR sensors in environmental and agriculture applications play a crucial role and have been used for a long time. In the coming years, quantum PAR sensors are expected to be in high demand for this application.

The market in Europe is expected to grow at an impressive CAGR during the forecast period

The countries in the region are majorly involved in investment activities for the research and development of quantum technologies. Also, the European Union launched Quantum Flagship in October 2018, which is a research and innovation initiative from the European Commission. The flagship will be active for 10 years and will fund quantum technologies in the coming years. Hence, as the research advances, the regional quantum sensors market is expected to grow significantly.

Market Dynamics

Drivers

• Growing Need for High-Precision Measurements in Various Crucial Applications
• Increasing Investments in Development of Quantum Technologies
• Growing Use of Quantum Sensors in Space Industry

Restraints

• Availability of Low-Cost Alternatives
• High Deployment and Maintenance Costs

Opportunities

• Growing Demand for Quantum Sensors in Medical Sector
• Emerging Autonomous Vehicle Market
• Rising Use of Quantum Sensors for Accurate Navigation in Oceanography and Marine Applications

Challenges

• Technical Challenges Associated with Use of Quantum Sensors

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Quantum Sensors Market, by Platform

7 Quantum Sensors Market, by Product Type

8 Quantum Sensors Market, by Application

9 Quantum Sensors Market, by Region

10 Competitive Landscape

11 Company Profiles

12 Adjacent and Related Markets

13 Appendix

Companies Mentioned

• Aosense, Inc.
• Apogee Instruments, Inc.
• Atomionics Pte Ltd.
• Campbell Scientific, Inc.
• Gem Systems
• Id Quantique Sa
• Impedans Ltd.
• Kipp & Zonen
• Li-Cor, Inc.
• M Squared Ltd
• Muquans Sas
• Nomad Atomics Pty Ltd.
• Q-Ctrl Pty Ltd.
• Q.Ant GmbH
• Qnami Ag
• Sea-Bird Scientific
• Skye Instruments Ltd.
• Solar Light Company, LLC
• Spectrum Technologies, Inc.
• Vector Atomic

For more information about this report visit https://www.researchandmarkets.com/r/xdw0ue

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SOURCE Research and Markets