openPR Logo
Press release

Quantum Sensors Market Expected to reach $565 million by 2027

06-23-2023 10:24 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

Quantum Sensors Market Expected to reach $565 million by 2027

The global quantum sensors market size is projected to grow from USD 260 million in 2022 to USD 565 million by 2027 at CAGR of 16.8% during the forecast period. Quantum sensors measure physical quantities with the help of quantum technology or quantum states. These sensors are based on the principle of superposition of atoms, providing extreme sensitivity. They are being used in some of the most crucial applications, such as space navigation and gravity measurements. In quantum sensors, the atomic properties are unchanged while they measure the relative environmental changes; hence, they do not witness drift or noise issues like conventional sensors. Compared with conventional sensors, quantum sensors are approximately 10 times more sensitive to the environment, making them extremely precise. Thus, the demand for quantum sensors is expected to grow in critical applications such as aerospace, military & defense, automotive & transportation, and healthcare.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=61825400

The market for magnetic sensors is expected to grow at a significant CAGR during the forecast period

A magnetic sensor converts the magnetic field variations into electric signals. The addition of quantum technology to the magnetic sensor improves the sensor sensitivity and reduces the size and weight of the sensor. The reduced size of magnetic sensors enables them to be used in various applications, such as microscopy, positioning systems, electric and magnetic field sensors, and communication technologies. These sensors are increasingly being used in the healthcare sector for magnetic bras that can be detected by Optically Pumped Min mapping and dementia research. Magnetic sensors can be used in most complex brain research. Researchers at the UK Quantum Technology Hub Sensors and Timing are experimenting with magnetic sensors by applying quantum sensors to human brain imaging. The brain develops magnetic fieldagnetometers (OPMs). This process is called magnetoencephalography (MEG). Magnetic sensors have a large scope in the field of brain research. Apart from the healthcare sector, magnetic sensors are also used in other fields, especially in mission-critical aerospace and defense applications. The identification of precise magnetic fields is crucial for space missions as well as other defense missions. Similarly, magnetic sensors play a vital role in the accurate navigation of rails and metro.

The market for construction & mining application is expected to grow at a significant CAGR during the forecast period

Construction of any structure involves digging, drilling, and underground activities to lay out the structure's base. Underground may contain utility cables, such as telephone cables, electricity cables, gas pipelines, or water pipelines. Damage to these properties can cause massive disturbances and loss of capital. Hence, it is vital to perform an underground survey of the proposed site before starting construction. Various instruments are being used to survey the underground, but their area of survey beneath the ground is less, which causes major threats to the utility sector and health and safety concerns. Some critical pipelines are buried deep inside the ground, excluding conventional meters' range. The quantum sensors can theoretically detect the earth's core, so plans are being made to utilize quantum sensors in the construction sector. Hence, quantum sensors can be utilized in the infrastructure development of economies and for developing smart cities.

Asia Pacific to account for a significant share of the quantum sensors market in 2027

Asia Pacific includes developing and developed countries such as China, India, Japan, and South Korea. Strong industrial growth and high investments in the military & defense sector are the key factors driving the growth of the quantum sensors market in this region. The countries in the region are currently focused on research and development of quantum technologies and quantum sensors. They have made high investments in the development of quantum technologies. Besides, the countries in the region are major manufacturing hubs for the automotive and healthcare sectors. Thus, the expanding healthcare and automotive sectors are expected to drive the growth of the Asia Pacific quantum sensors market.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=61825400

The major players include Campbell Scientific, Inc. (US), ID Quantique SA (Switzerland), LI-COR, Inc. (US), M Squared Ltd. (UK), and Muquans SAS (France).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Quantum Sensors Market Expected to reach $565 million by 2027 here

News-ID: 3099804 • Views:

More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your Revenue
Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to Surpass USD 36.7 billion
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth. Download PDF Brochure @
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMarkets
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2030 | Leading key players are ABB, Schneider Electric, Eaton, Vertiv
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of

All 5 Releases


More Releases for Quantum

Quantum Computing Services Market is Booming Worldwide| IBM Quantum, Google Quan …
HTF Market Insights just released the Global Quantum Computing Services Market Study, a comprehensive analysis of the market that spans more than 143+ pages and describes the product and industry scope as well as the market prognosis and status for 2025-2032. The marketization process is being accelerated by the market study's segmentation by important regions. The market is currently expanding its reach. Major companies profiled in Quantum Computing Services Market are: IBM
Quantum Computing Market: A Quantum Leap
The quantum computing market is a burgeoning field that promises to revolutionize various industries, from healthcare to finance. This post will delve into the market, exploring its size, share, opportunities, challenges, demand, and trends. Market Size and Share The quantum computing market is still in its nascent stages, with significant growth potential. While precise figures can vary depending on data sources and regional factors, the market is estimated to be worth billions
Quantum Computing Software Market Is Booming So Rapidly with IBM Quantum, Google …
HTF MI recently introduced Global Quantum Computing Software Market study with 143+ pages in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status (2024-2032). The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence. Some key players from the complete study are IBM Quantum - United States, Google Quantum AI - United States, Microsoft
Kipu Quantum and Quantum-South Announce Strategic Partnership
Karlsruhe, Germany / Montevideo, Uruguay - June 4th 2024 Kipu Quantum GmbH, a German quantum software company focusing on developing application- and hardware-specific quantum solutions for or a wide range of industries, and Quantum-South, a quantum computing startup with solutions for logistics optimization, are pleased to announce a strategic partnership aimed at transforming industries across Latin America and other global markets. This alliance is set to leverage the unique strengths of
Quantum Internet Alliance launches Quantum Internet Application Challenge
Quantum enthusiasts get a chance to co-create the future quantum internet DELFT, THE NETHERLANDS-The Quantum Internet Alliance (QIA) has announced the launch of its first ever Quantum Internet Application Challenge (https://quantuminternetalliance.org/quantum-internet-application-challenge-2023/), an initiative encouraging quantum enthusiasts to take part in shaping the future of the quantum internet. "The role of the community-from students and enthusiasts to scientists and industry leaders-in our mission of building a global quantum internet is pivotal. And the
Quantum Computing Market Deep Dive into Industry Leaders: Analysis of Top Manufa …
Global "Quantum Computing Market" Research report is an in-depth study of the market Analysis. Along with the most recent patterns and figures that uncovers a wide examination of the market offer. This report provides exhaustive coverage on geographical segmentation, latest demand scope, growth rate analysis with industry revenue and CAGR status. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of