Quantum Sensors Market by Product Type (Gravity Sensors, Atomic Clocks, PAR Quantum Sensors, Magnetic Sensors) and by Application (Military and Defense, Automotive, Oil and Gas, Healthcare, Others) and by Region (Latin America, North America, Asia Pacific, Europe, and Middle East & Africa) - Outlook, Size, Opportunity Analysis, Share, and 2023 – 2030
The global Quantum
Sensors Market is
estimated to be valued at US$ 0.61 billion in 2023 and is expected to exhibit a
CAGR of 12.90 % over the forecast period, as highlighted in a new report
published by Coherent Market Insights.
Market Overview:
Quantum sensor provides features of quantum
mechanics, such as quantum state squeezing, quantum interference and quantum
entanglement which have enhanced precision and beat power limits in sensor
equipment. The field of quantum sensing sells on the invention and engineering
of quantum causes and quantum capacities that can surpass the working of any
classical plan in various technical uses. Quantum sensors utilize less amounts
of energy and matter to identify and measure small changes in time, gravity, heat,
pressure, rotation, speed, frequency, and magnetic and electric fields.
Competitive
Landscape:
Key Players involved in the growth of global
quantum sensors market are AOSense Inc., Apogee Instrument Inc., Muquans SAS., M
Squared Laser Limited. And Robert Bosch GmbH.
Market Key Drivers:
Rising use of robots in military and defense
is expected to boost the growth of global quantum sensors market. For instance,
as per the IFR, military robotics-expenditure across the globe is projected to
cross US$ 16.5 billion by 2025.
Rising developments and advancements is
projected to propel the growth of global quantum sensors market. For instance,
in December 2022 - The 1G of quantum technology was advanced by AOSense, an
organization that can yield advanced goods for quantum gravimetry.
Covid-19 Impact
Analysis:
The COVID-19 outbreak had a significant effect
on the global quantum sensors market due to significant revenue losses in fields
such as hospital, automotive, electronics, and many more. Anyhow, as the
lockdown limitations loosen with time, the quantum sensor business is usually
re-energizing. Quantum Sensors firms are probably to accept exceptional
crisis-management procedures, with an aim on next-generation techniques and
solutions, to emerge potentially from the COVID-19 issues.
Key Takeaways:
The Quantum
Sensors Market is expected to exhibit a CAGR of 12.90 % during the
forecast period due to rising adoption strategies. For instance, November 2022
in Glasgow-based M Squared invented public a prototype of the primary
commercial neutral atom quantum computer in U.K.
Among regions, North America, Asia Pacific
and Europe is anticipated to witness robust growth in the global quantum
sensors market due to rising usage of patent, rising partnerships and
collaborations, increasing investment, rising expenditure. For instance, India
is spending US$ 1 billion in several programs within the next five years to enhance
its abilities in quantum data and meteorology, quantum uses and elements, and
quantum communications.
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