Quantum Sensor Market Size, Share & Trends Analysis Report By Product Type (Atomic Clocks, PAR Quantum Sensors), By Application (Healthcare, Automotive), By Region (Europe, Asia Pacific), And Segment Forecasts, 2023 - 2030

Quantum Sensor Market Size, Share & Trends Analysis Report By Product Type (Atomic Clocks, PAR Quantum Sensors), By Application (Healthcare, Automotive), By Region (Europe, Asia Pacific), And Segment Forecasts, 2023 - 2030

Quantum Sensor Market Growth & Trends

The global quantum sensors market size is anticipated to reach USD 1.42 billion by 2030, registering a CAGR of 7.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. Quantum sensors detect use techniques of quantum interference, entanglement, and quantum state squeezing to design and engineer quantum sources as well as measurements in numerous technological applications including, but not limited to microscopy, navigation & communication, electronic & magnetic field sensors, as well as positioning systems. Most commonly observed quantum-sensing measurement devices include atomic clocks, magnetometers, quantum radars, neuroimaging, and quantum gravity gradiometers.

The increasing demand for high-precision measurement equipment across various applications, especially in healthcare and automotive & transportation, is the prime factor boosting the demand for quantum sensors. In addition, considerable investments from the governments of numerous countries propel the development of quantum sensors in military & defense applications, further boosting the market growth. The Canadian government announced USD 360 million worth of investment to launch a National Quantum Strategy in April 2021. In 2019, the Government of the Netherlands announced a National Agenda on Quantum Technologies that aims to position the Netherlands as a leading international center for the quantum ecosystem. Similarly, the German government announced funding of USD 701 million in quantum technology platforms.

Quantum technology, including sensing, is projected to gain considerable exposure from space applications in the near future. Quantum sensors are suitable for satellite applications as they offer high accuracy in measurements, are durable, and provide high efficiency in a compact, low-weight package. The fundamental atomic features and quantum interference measurements offer high-precision measurement abilities for space navigation, position, and timing. In August 2022, a German consortium composed of Bosch, Q.ANT, TRUMPF, and the German Aerospace Center (DLR) announced their plans to use quantum technology to enhance satellite measurement stability. The team was to develop space-qualified attitude sensors to enhance internet access, especially in remote regions.

The Asia Pacific region is projected to grow at the second-fastest CAGR of 9.2% during the forecast period. The growing use of advanced imaging devices and quantum sensors across various applications, including defense, healthcare, automotive, and transportation, among others is the prime factor boosting the market growth. Moreover, the government initiatives supporting R&D in the field and promoting the use of quantum technology further make it a region with lucrative growth opportunities. The Indian Government launched National Quantum Mission worth USD 735.7 million for research in quantum technologies to be applied across various end-use sectors, including health, finance, communication, and energy.

Quantum Sensor Market Report Highlights

• The atomic clock segment held the largest share of 37% in 2023 and is projected to grow at a significant CAGR during the forecast period. The atomic clocks use atomic resonance frequency standards and are very precise timekeepers
• NASA’s Deep Space Atomic Clock is one of the much-known examples of the same. The growing applications for atomic sensors in navigation, power grid, telecommunication, and financial trading, among others, is a prime factor boosting the sales of atomic clock devices
• The healthcare application segment held the largest share and is projected to grow at the fastest CAGR during the forecast period. Quantum sensors are being used in biomedical devices to empower a radical rise in their sensitivity
• A new generation of medical imaging devices that are capable of detecting human physiology will lead to faster and more precise diagnoses. Such devices can benefit from quantum sensors and provide considerable growth opportunities in the field of medical devices
• Major launches and innovations are augmenting the automation tool segment. For instance, in December 2022, AOSense, a small company, created the first generation of quantum technology and novel products in quantum gravimetry. The company worked with NASA’s Goddard Space Flight Center, to develop quantum sensors for precise navigation

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