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Quantum Sensors Market

Quantum Sensors Market

Quantum Sensors Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

142

Base Year:

2021

Date

May - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1551

Segments Covered
  • By Product Type Gravity Sensors, Atomic Clocks, PAR Quantum Sensors, Magnetic Sensors
  • By Application Military and Defense, Automotive, Oil and Gas, Healthcare, Others
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 452.6 Million
Revenue 2028Revenue 2028: USD 714.2 Million
Revenue CAGRRevenue CAGR (2022 - 2028): 7.9%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): Europe
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Quantum Sensors Market Share

Market Synopsis:

The Global Quantum Sensors Market is valued at USD 452.6 Million in the year 2021 and is projected to reach a value of USD 714.2 Million by the year 2028. The Global Market is forecast to grow exhibiting a Compound Annual Growth Rate (CAGR) of 7.9% over the forecast period.

Quantum Sensors Market Size, 2021 To 2028 (USD Million)

Quantum Sensors are highly advanced and sensitive sensors that operate on the principles of quantum technology and are expected to see high demand owing to rising advancements in the quantum technology field across the world. Quantum Sensors provide advantages such as fast communication, faster processing speeds, and increasing scope of application in advanced technologies such as artificial intelligence, machine learning, deep learning, etc. The Quantum Sensors Market experienced a negative growth trend in the pandemic as restrictions were imposed to control the spread of coronavirus. The market is expected to make a good recovery and evolve at a high CAGR over the forecast period.

Increasing demand for quantum sensing technologies in autonomous driving applications is expected to majorly boost the Quantum Sensors Market potential in the long run. Rapid technological advancements and increasing investments in technology are projected to further bolster the Quantum Sensors Market potential over the forecast period. The increasing use of Quantum Sensors in IoT is expected to crucially drive the Quantum Sensors Market growth over the forecast period. The rising scope of application in multiple end use industries will also provide new opportunities in the long run.

The complexity and high costs of these Quantum Sensors are expected to have a restraining effect on the Global Quantum Sensors Market growth. The presence of low-cost alternatives will also have a hampering effect on the Quantum Sensors Market potential in the long run. Quantum Sensors manufacturers are focusing on investing in the development of new products that will be more cost-effective in order to expand their business scope in the long run.

Market Segmentation:

The Quantum Sensors Market is segmented on the basis of product Type and application. On the basis of product type, the market is segmented into Gravity Sensors, Atomic Clocks, PAR Quantum Sensors, and Magnetic Sensors. On the basis of application, the market is segmented into Military and Defense, automotive, Oil and Gas, Healthcare, and Others.

Below tree is interactive. You can click the nodes to get more information.

Based on Product Type

The magnetic sensors segment is projected to lead the Global Quantum Sensors Market over the forecast period. The increasing scope of application of magnetic sensors in applications such as magnetic field sensors, communication technology, microscopy, positioning systems, etc. is expected to boost the Quantum Sensors Market potential through 2028

Based on Application

The global market is anticipated to be led by the increasing scope of use of Quantum Sensors in military and defense applications. Increasing investments in research and development of new technology across the world will prominently drive the growth in this segment. Increasing investments in defense sectors will also favor growth. The automotive segment is also expected to exhibit lucrative opportunities as the trend of autonomous driving increases in popularity on a global level.

Europe Accounted for the Largest Market Share

The Europe region accounted for the largest market share during the year 2021 and holds a dominant share of 35.30% in the global landscape. Increasing investments in research and development activities and rising technological proliferation are expected to boost the Quantum Sensors Market potential in this region over the forecast period. The United Kingdom is projected to be a notable market in this region due to rising support from the government. Meanwhile, the Asia Pacific region is projected to rise at the fastest pace over the coming years. The Quantum Sensors Market in this region will see high demand from emerging economies of China and India who are investing in the development of technology as digitization picks up pace in this region over the forecast period. Japan is anticipated to be a lucrative market owing to its technologically advanced infrastructure and will be the most notable market for Quantum Sensors over the years to come.

Competitive Landscape:

Key players operating in the Global Quantum Sensors Market include- Apogee Instrument Inc., GWR Instruments Inc., Thomas Industrial Network Inc., Networking (Oscilloquartz), Adcon Telemetry Gmbh, METER Group, Microchip Impedans Ltd., M-Squared Lasers Limited, Spectrum Technologies Inc. and others.

Segmentation of the Global Quantum Sensors Market:

Parameter Details
Segments Covered
  • Product Type (Gravity Sensors, Atomic Clocks, PAR Quantum Sensors, Magnetic Sensors)
  • Application (Military and Defense, Automotive, Oil and Gas, Healthcare, Others)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Apogee Instrument Inc.
  • GWR Instruments Inc.
  • Thomas Industrial Network Inc.
  • Networking (Oscilloquartz)
  • Adcon Telemetry Gmbh
  • METER Group
  • Microchip Impedans Ltd.
  • M-Squared Lasers Limited
  • Spectrum Technologies Inc.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Quantum Sensors Market to Reach Valuation of USD 714.2 Million by 2028 - Increasing Demand for Quantum Sensors in Defense and Automotive Applications to Drive Market Growth
From the period of 2022 to 2028, the Global Quantum Sensors Market is expected to reach USD 714.2 Million in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 7.9%. Rapid technological proliferation and increasing digitization are expected to propel the demand for advanced techno...
FAQ
Frequently Asked Question
  • The global Quantum Sensors valued at USD 452.6 Million in 2020 and is expected to reach USD 714.2 Million in 2028 growing at a CAGR of 7.9%.

  • The prominent players in the market are Apogee Instrument Inc., GWR Instruments Inc., Thomas Industrial Network Inc., Networking (Oscilloquartz), Adcon Telemetry Gmbh, METER Group, Microchip Impedans Ltd., M-Squared Lasers Limited, Spectrum Technologies Inc..

  • The market is project to grow at a CAGR of 7.9% between 2021 and 2028.

  • The driving factors of the Quantum Sensors include

    • The rising use of IoT is a crucial demand

  • Europe was the leading regional segment of the Quantum Sensors in 2020.