Press release
Quantum Sensors Market 2019-2023 Global Industry Key Leaders by Adcon. Telemetry, Biospherical Instruments, Skye, ADVA Optical, Spectrum, Thomas Industrial, AOSense, Radix
Quantum Sensors Market
A quantum sensor exploits quantum correlations like quantum entanglement to achieve better sensitivity or resolution than conventional systems. A quantum sensor is capable of measuring the effect of the quantum state of another system on itself. The act of measurement itself influences the quantum state and alters the probability and uncertainty that is associated with the state of the sensor during calibration.
Rapid technological advancements are aiding in the development of highly advanced gadgets is one of the factors driving growth to the global Quantum Sensors Market. Emerging demand for quantum sensors in various industrial sectors such as aerospace, automotive, and military & defense is contributing to the growth of global quantum sensors market. Quantum sensors are capable of providing highly accurate information and sustain in extreme climatic conditions, causing the global quantum sensors market to gain higher traction during the forecast period.
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Competitive Analysis
The prime players profiled by Market Research Future that are operating in the global quantum sensors market include Adcon Telemetry Gmbh, Biospherical Instruments Inc., Skye Instruments Ltd., ADVA Optical, Spectrum Technologies Inc., Thomas Industrial Network Inc., GWR Instruments Inc., AOSense, Networking (Oscilloquartz), Radix, METER Group, M-Squared Lasers Limited, Impedans Ltd., Apogee Instrument Inc., Technology (Microsemi), Microchip, and Muquans.
Global Quantum Sensors Market: Segmental Analysis
The global quantum sensors market has been segmented on the basis of vertical and product. Based upon vertical, the market has been segmented into automotive, military & defense, oil & gas, healthcare, and agriculture. The military & defense segment is expected to hold the most significant market share for quantum sensors and anticipated to beat the market valuation of 50Mn by 2023. The rapid adoption of quantum sensors for military applications due to its capability to provide accurate data and sustain in extreme conditions is projected to propel the growth of the global quantum sensors market.
By product, the market is segmented into magnetic sensors, atomic clocks, photosynthetically active radiation (PAR) quantum sensors, and gravity sensors. The segment of atomic clocks segment is predicted to garner significant dominance over the quantum sensors market and project to outdo the market valuation of 120Mn by the end of the review period. Higher accuracy of atomic clocks is resulting in higher adoption of them in several industrial domains. The photosynthetically active radiation (PAR) quantum sensor segment is projected promising growth potential during the forecast period due to increased utilization of these sensors due to their high durability.
Detailed Regional Analysis
The quantum sensors market is segmented into five major regions of Latin America, Asia Pacific (APAC), North America, Europe, and the Middle East and Africa (MEA). Europe dominated the market with a shareholding of 36% of the global quantum sensors market in 2017. Europe is projected to continue its dominance throughout the forecast period. This growth can be attributed to extensive research activities carried out for the development of innovative devices that operate on a quantum level. North America is the second largest shareholder of the global quantum sensors market with a 29% share in 2017 owing to higher investments for technological advancements and increased utilization of quantum sensors in space exploration programs. The Asia Pacific is predicted to showcase notable growth during the assessment period because of rising space exploration activities carried out by emerging economies and the adoption of quantum sensors to strengthen the military & defense sector.
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Industry Update
March 2019: Researchers at the University of Waterloo’s Institute for Quantum Computing (IQC) have developed new quantum sensors that have advantageous applications in the monitoring of cancer treatments to remote sensing capabilities.
February 2019: SK Telecom announced its launch of Quantum Security Gateway Solution to prevent hacking of self-driving cars at Mobile World Congress. The solution is an integrated device for security which shall be installed inside cars and protect electronic units and networks inside the vehicle.
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