Quantum Sensors Market, By Product Type (Atomic Clocks, Magnetic Sensors, PAR Quantum Sensors, and Gravity Sensors), By Application (Military and Defense, Automotive, Other Applications), By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Quantum sensors are becoming more and more prevalent in scientific research, allowing scientists to understand exotic states of matter. They are also being used to characterize practical devices. Atomic clocks and quantum interference devices rely on these properties. Scientists are also using them to build superconducting circuits. These circuits can be used to move photons from one cavity to the other, which can improve the precision of quantum information. Moreover, researchers are also using them to make 3D images of complex biological molecules.
Quantum sensors are expected to commercialize over the next decade. Several applications are at proof-of-concept stages, while others are still in development. However, the sensing industry is expected to be a multi-billion dollar industry within a decade.
Market Dynamics:
Increased demand for autonomous vehicles, growing interest in the research community, increasing military and defense expenditure for quantum-based technologies and the growing interest in medical applications for the use of quantum sensors are the factors expected to augment growth of the global quantum sensors market over the forecast period.
The global quantum sensors market is also influenced by the long regulatory sanction procedures for approving and manufacturing the quantum sensor. This can slow down the market's growth rate. Furthermore, the high cost of research and development can also impede the growth of the market.
Key features of the study:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook