Quantum Sensors Market Trends

Global Quantum Sensors Market Overview:

Quantum Sensors Market Size was valued at USD 287 Million in 2023. The Quantum Sensors market industry is projected to grow from USD 334.64 Million in 2024 to USD 1123.2 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 16.34% during the forecast period (2024- 2032). The rising need for high-precision measurement and investment in quantum technologies are the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Quantum Sensors Market Trends

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  Growing demand in various sectors is driving the market growth

  
  

Quantum sensors enable a new level of understanding of the minute details of our world. There are numerous potential uses of quantum sensors, including 3-D mapping of individual protein molecules, early cancer detection, biological process mapping, tailored treatment, early cancer diagnosis, atomic clocks, enhanced geological exploration, and nanotechnology. Quantum sensors have a variety of applications in the military and defense, including giving extremely precise positioning data and spotting submarines in the ocean. Moreover, the measurement of Photosynthetic Photon Flux (PPF) over plant canopies in outdoor environments or greenhouses and growth chambers is one of the typical applications of quantum sensors. The PAR meter is a quantum sensor that is frequently used to gauge active photosynthetic radiations.

Quantum sensors are extremely accurate because they are typically ten times more sensitive to their surroundings than conventional sensors. Owing to the higher accuracy and credibility of quantum sensors, this technology is becoming more accessible in various sectors, and this is fueling the quantum sensors market CAGR globally. Furthermore, several companies and research institutions have recently worked on developing quantum sensors for use in the medical and healthcare sector. These studies have shown that quantum-enabled devices help in increasing the precision of diagnostic and imaging processes. Quantum sensor-based devices can help identify chronic diseases by providing incredibly precise data. Cancer can be diagnosed in its early stages owing to quantum sensors.

To cater to the demand in the market, researchers and scientists are focused on the commercialization of their technology. Such factors are driving the growth of the quantum sensors market revenue.

Quantum Sensors Market Segment Insights:

Quantum Sensors Verticals Insights

Based on Product, the Quantum Sensors Market segmentation includes Atomic Clocks, Photosynthetically Active Radiation (PAR), Gravity Sensors, Magnetic Sensors, and Quantum Sensors. The Atomic Clocks segment held the majority share in 2021, contributing to around ~32-35% in respect to the Quantum Sensors Market revenue. This is primarily due to the improvement in sensing accuracy, which has led to a rise in the use of quantum phenomena. Atomic clocks are used for space exploration applications and research due to the reliance of these fields on sensors for spacecraft operation and science measurements. Companies in the market are taking initiatives such as launching new products in the market.

December 2018: NASA, along with Sunnyvale, California-based AOSense, Inc., successfully built and demonstrated a prototype quantum sensor which is capable of obtaining highly sensitive as well as accurate gravity measurements.

May 2022: iXblue launched the first industrial compact and transportable Differential Quantum Gravimeter, a quantum sensor for precise underground mapping. These offer new viewpoints for near-surface geophysics, gravity-aided navigation, and civil engineering.

Quantum Sensors Verticals Insights

The Quantum Sensors Market segmentation, based on Verticals, includes Oil & Gas, Military & Defense, Automotive, Healthcare, and Agriculture. The automatic segment dominated the market in 2021 in the Quantum Sensors Market. The main factor boosting the demand for quantum sensors in automotive applications is the rising demand and trend for autonomous vehicles. Quantum sensor-enabled sensing can precisely measure rotation, imaging, acceleration, and gravity in electric and magnetic fields in automotive applications. Automotive manufacturers are researching quantum gyroscopes to improve precision and lower dependence on satellite navigation. The UK Quantum Technology Hub Sensors and Timing researchers are creating precise and accurate quantum sensors to improve the capabilities of autonomous vehicles such as cars, ships, trains, and planes. Hence, rising applications of quantum sensors positively impact market growth. Further, the healthcare segment is anticipated to grow with the fastest CAGR during the forecast period owing to the rising prevalence of various diseases and the growing need to diagnose and treat these diseases.

November 2022: Bosch announced several initiatives at the Bosch Connected World event. This announcement also included the launch of a startup that will accelerate the development and commercialization of quantum sensors for various applications in the biomedical industry.

Figure 2: Quantum Sensors Market, by Surgery, 2021 & 2030 (USD Million)

Quantum Sensors Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Europe Quantum Sensors market accounted for USD 0.88 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the growing use of quantum sensors in automobiles and rising government initiatives for the development of the technology. For instance, in November 2020, The University of Birmingham collaborated with BAE Systems, BT, and BP to develop and integrate new sensing technologies. Through his collaboration, they will be able to create a 'road map' for actions that will be driven by the Government-funded and University of Birmingham-led UK Quantum Technology Hub Sensors and Timing, which is a part of the UK National Quantum Technologies Programme. Further, the Germany Quantum Sensors market held the largest market share, and the UK Quantum Sensors market was the fastest-growing market in the European region

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Quantum Sensors Market SHARE BY REGION 2021 (%)

North America Quantum Sensors market accounts for the second-largest market share due to the growing demand and trend for autonomous vehicles, the increase in the incidence of various diseases such as cancer, and growing research & development activities. Moreover, increasing private and public investments in the development of quantum technology and quantum entanglement. Further, the U.S. Quantum Sensors market held the largest market share in this region.

The Asia-Pacific Quantum Sensors Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to the demand for quantum sensors in automotive applications and rising technological advancements in quantum sensors. Additionally, the growing implementation of quantum entanglement technology in the healthcare sector. Moreover, the China Quantum Sensors market held the largest market share, and the India Quantum Sensors market was the fastest-growing market in the Asia-Pacific region

Quantum Sensors Key Market Players & Competitive Insights

Major market players are investing in R&D to increase their product portfolio, which will help the quantum sensors market grow during the coming years. Market participants are also taking a range of initiatives to grow their market share, with market developments that include the launch of new products, increased investments, and contractual collaboration agreements with other organizations.

One of the primary business strategies adopted by manufacturers in the global Quantum Sensors industry is conducting more research and development activity such that these sensors provide more accurate data. In recent years, the quantum sensors industry has been majorly used in the automotive sector owing to significant benefits. The Quantum Sensors market major player such as AdSense, GWR Instruments Inc., Adcon Telemetry Gmbh, Apogee Instrument Inc, ADVA, and Skye Instruments Ltd, among others, are working to expand the market demand by investing in research and development activities.

Apogee Instruments manufacture innovative, durable, and accurate environmental instruments. The company manufactures products renowned for cost-effective measurement technology. In June 2021, Apogee "Original" black-head quantum sensors were changing to a different internal detector.

Skye Instruments Ltd manufactures instruments for environmental monitoring, plant growth, and agricultural research. The Company is currently located in Wales in 1986. The company manufactures Photosynthetically Active Radiation or PAR light which lies in the range of 400-700nm. The PAR line quantum sensor manufactured by the company consists of 33 individual sensors that are evenly spaced along an 850mm length.

Key Companies in the Quantum Sensors market includes

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  Radix

  
  


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  Networking (Oscilloquartz)

  
  


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  GWR Instruments Inc.

  
  


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  Technology (Microsemi)

  
  


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  METER Group

  
  


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  Spectrum Technologies Inc.

  
  


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  Adcon Telemetry Gmbh

  
  


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  Microchip

  
  


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  Apogee Instrument Inc.

  
  


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  Impedance Ltd.

  
  


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  Biospherical Instruments Inc

  
  


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  Thomas Industrial Network Inc.

  
  


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  M-Squared Lasers Limited

  
  


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  ADVA

  
  


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  Skye Instruments Ltd., among others

  
  

Quantum Sensors Industry Developments

July 2023: Quantum Sensors for Improved Positioning and Navigation are Being Developed by Q-CTRL in Collaboration with Australian Department of Defence. This technique is capable of detecting little variations in the acceleration and gravitational field. The powerful quantum control software that Q-CTRL uses as one of its main technologies may eliminate signal noise and offer durability so that precision is not compromised when the device is put on moving platforms. Software control also offers adaptability, allowing the sensor to be readily modified to measure other things with only a software modification.

June 2023: Now with diamond-based quantum sensor technology, fast magnetic imaging is possible. Through the use of quick camera pictures, Fraunhofer IAF has created an enhanced wide-field magnetometer. The technology provides an exceptional sensitivity, resolution, and speed compromise.

June 2023: The National Science Foundation and Infleqtion, the world's leading provider of quantum information, are pleased to report that a team from the University of Colorado has made significant progress in the area of quantum navigation. Combining machine learning having quantum sensing, the team showed off the first high-performance accelerometer in the world that is software configurable and quantum enabled. It is intended for Positioning, Navigation, and Timing applications that work at accelerations as high as many tens of the Earth's gravity. This innovation allows for the best adaptation to mission requirements & creates new opportunities for precision in areas where GPS is not available in the real world.

April 2023: Researchers from UNSW Sydney have created a chip-scale technique for imaging magnetic fields using OLEDs, which might turn smartphones into transportable quantum sensors. The gadget is smaller and more mass-producible because of the technique's increased scalability and lack of laser input. The technique may be applied to identify material flaws and conduct remote medical diagnostics. Thanks to a novel chip-scale method that employs organic light-emitting diodes to picture magnetic fields, smartphones may one day become portable quantum sensors.

August 2022: Q-CTRL introduced its quantum sensing division, which is one of the largest in the world. Their team first time showcased its capabilities publicly at the Army Quantum Technology Challenge (QTC) in Adelaide.

March 2022: Peter Zoller and Thomas Monz at the University of Innsbruck have led two teams that have designed the first programmable quantum sensor. They have tested these and tested the quantum sensor in the laboratory to operate them with even greater precision irrespective of which technical platform.

July 2021: Rohde & Schwarz technology group acquired Zurich Instruments AG for expanding its measurement division. This collaboration will help Rohde & Schwarz in quantum computing, which is one of the most promising future technologies.

January 2021: Q.ANT, a TRUMPF subsidiary, and sensor specialist SICK together signed a collaboration agreement that enables the development of industrial quantum sensors. Through this collaboration SICK will be focused on application development and the sale of the product whereas, Q.ANT will handle the production of the product.

Quantum Sensors Market Segmentation:

Quantum Sensors Products Outlook

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  Atomic Clocks

  
  


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  Photosynthetically Active Radiation (PAR)

  
  


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  Gravity Sensors

  
  


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  Magnetic Sensors

  
  


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  Quantum Sensors

  
  

Quantum Sensors Verticals Outlook

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  Oil & Gas

  
  


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  Military & Defense

  
  


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  Automotive

  
  


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  Healthcare

  
  


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  Agriculture

  
  

Quantum Sensors Regional Outlook

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  North America

  
  
  
  
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    US

    
    
  
  
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    Canada

    
    
  
  
  
  


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  Europe

  
  
  
  
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    Germany

    
    
  
  
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    France

    
    
  
  
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    UK

    
    
  
  
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    Italy

    
    
  
  
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    Spain

    
    
  
  
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    Rest of Europe

    
    
  
  
  
  


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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America