Superconductors Market is expected to reach US$ 8,564.61 Million by 2028, Globally, with a CAGR of 8.4% from 2022 to 2028 - The Insight Partners

Superconductors Market: Key Insights

According to our latest market study on "Superconductors Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type (Low-Temperature Superconductors and High-Temperature Superconductors) and Application (Medical, Electronics, Defense & Military, and Others)," the superconductors market is expected to grow from US$ 5,286.26 million in 2022 to US$ 8,564.61 million by 2028; it is estimated to grow at a CAGR of 8.4% from 2022 to 2028.

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Superconducting processors may become an important component of the next generation of supercomputers. For starters, they could assist in overcoming the major issue of scaling up quantum computers. Second, they might significantly improve the performance of classic supercomputers while drastically reducing their power usage. A multidisciplinary research initiative will address one of the primary obstacles of this approach, data transport to and from low temperatures required for superconductivity.

A quantum computer's processing power is based on superconducting qubits that operate at extremely low temperatures. At room temperature, qubits are commonly operated by conventional electronics connected by electrical lines. When the number of qubits reaches the needed level of hundreds of thousands, the number of control cables becomes incapable of scaling up to match the number of qubits without causing an unacceptable heat load, thereby jeopardizing the quantum processor's low temperature. One solution is to control the quantum processor with a nearby classical processor. The single flux quantum (SFQ) technology, which follows classical computer logic but employs superconducting technology instead of semiconductors, is the most promising answer. Due to its low-temperature requirements, SFQ has only been employed in a few classical computers.

This disadvantage becomes a benefit when utilized in conjunction with superconducting quantum computers. Additionally, the extremely high-power consumption of CPUs and GPUs due to energy dissipation in silicon chips is a major restriction of supercomputers. In GPUs, replacing silicon chips with superconducting SFQ chips could significantly influence performance and power consumption. Thus, the increase in superconducting chips to scale up quantum computers and supercomputers is driving the superconductors market.

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Superconductors Market: Competitive Landscape and Key Developments

Bruker Corporation; Furukawa Electric Co. Ltd.; American Superconductor Corporation; Sumitomo Electric Industries, Ltd.; and Hitachi Ltd. are a few key superconductors market players. In addition, several other important superconductors market players were studied and analyzed during this study to get a holistic view of the global superconductors market and its ecosystem.

Players operating in the superconductors market mainly focus on developing advanced and efficient products.

1. In 2022, Cryomagnetics designed and produced the six 5 Tesla recondensing magnets that comprise the Differential Pumping Section (DPS), as well as the "Pinch" and "Detector" magnets for this groundbreaking experiment.

2. In 2021, Hitachi, Ltd. has developed a 1.1-m-diameter magnesium diboride (MgB2) superconducting magnet that can rapidly generate a magnetic field space as required for magnetic resonance imaging (MRI) examinations and has demonstrated that MRI imaging of the head region can begin in 10 minutes from a zero-field state, compared to 1 to 2 hours using conventional equipment.

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