Quantum Sensors Market

Market Study on Quantum Sensors: Popularity of Magnetic Sensors to Remain High

Quantum Sensors Market Segmentation by Type which Atomic Clock, Gravity Sensor, Magnetic Sensor, Rotation Sensors, Imaging Sensors, Temperature Sensors and also Segmentation by Industry Vertical which is Defense, Oil & Gas, Transportation, Construction, Medical & Healthcare

Market Snapshot

As per latest analysis by Persistence Market Research, quantum sensors market revenue totals US$ 303.8 Mn in 2021, with steady projected growth at 5.7% CAGR for 2021 to 2031. The quantum sensors market valuation is expected to surpass US$ 530.6 Mn by 2031, and is projected to grow more than 2X by 2031.

The market for quantum sensors is expected to experience major growth opportunities due to continuous development and implementation of new technologies such as quantum imaging, quantum simulation, and quantum sensing. Development of quantum sensing solutions in material science and quantum physics is one of the major driving factors contributing to market growth. Quantum sensors contribute around 5%-8% market share in the global quantum computing market.

Furthermore, increasing implementation of quantum entanglement and quantum technology in the healthcare and medical industry for remote patient monitoring, diagnostic assistance, and enhancing consumer healthcare experience, among others, is further driving sales for quantum sensors.

Quantum Sensors Market Value (2021)

US$ 303.8 Mn

Projected Market Size (2031)

US$ 530.6 Mn

CAGR% (2021-2031)

5.7%

Share of Top 5 Quantum Sensor Manufacturers

40%

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Companies

  • Muquans SAS (iXblue)
  • Microsemi Corp. (Microchip Technology Inc.)
  • AOSense, Inc.
  • GWR Instruments, Inc.
  • Oscilloquartz S.A. (ADVA Optical Networking SE)
  • M Squared Lasers Ltd.
  • Cryogenic Limited
  • Supracon AG

Demand Analysis of Quantum Sensors from 2016-2020 Vs Market Outlook for 2021-2031

From 2016-2020, the global market for quantum sensors expanded at a CAGR of 5.7%. Quantum sensor products are projected to witness significantly high demand during the forecast period due to increasing adoption of quantum technology and Artificial Intelligence (AI).

Quantum sensors are also providing various advantageous such as ease of operation, and there is rising awareness among industrial, commercial, and residential end users regarding quantum sensor products. This may help them increase their customer base, sales revenue, and human-machine interaction.

Major demanding region of quantum sensors technology is North America, followed by Europe. In both these regions, demand is expected to surge owing to the fact that they have dominance over the defense industry.

The global market is expected to reach a valuation of US$ 530.6 Mn by 2031, surging at a CAGR of 5.7%.

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Will Deployment of Quantum Sensing Technology in Autonomous Vehicles Drive Market Expansion?

Autonomous vehicles can see around corners and portable scanners can monitor the brain activity of a person with the help of quantum sensing technology. The technology is making these things a reality as it covers motion, including imaging, rotation, acceleration and gravity – magnetic and electric fields.

For instance, the Queensland University is working on the next-generation of sensor technology, which will offer super exact communication and navigation for automated vehicles. The university is dealing with an activity to utilize quantum innovation for new sensors.

The technology can be ground-breaking for empowering self-ruling vehicles that can see around early-warning systems for earthquakes and volcanic activity, and underwater navigation systems. Further, it will lead to measuring electric and magnetic fields, measuring physical quantities against atomic properties, and improve sensitivity or precision from quantum sensing technology. Therefore, deployment of quantum sensing technology in autonomous vehicles will drive market expansion.

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How Will More Accurate Sensing & Measurement Features Drive Quantum Sensor Demand?

Quantum sensors are capable of replacing existing sensors in various applications, including monitoring and locating gas, oil and mineral deposits, and detecting the slightest environmental, seismic, surveying construction sites, or weather changes.

These sensors are also used for dramatically improving precise positioning and navigation systems in the transportation sector.

  • For example, Airbus is a multinational aerospace corporation that is using quantum sensors to measure attributes such as acceleration, rotation rates, frequency, electric and magnetic fields, and temperature to improve its navigation systems.

Such factors are driving demand for quantum sensors across regions.

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How are Increasing Investments in Quantum Technology Catalyzing Quantum Sensor Sales?

There is an increase in investments in quantum sensing technology and artificial intelligence by various market players. Due to growing research & development activities in the field of quantum sensor products such as atomic clocks, rotation sensors, and imaging sensors, the market is anticipated to grow at a steady rate.

As research & development activities are increasing continuously, it will create ample opportunities in various sectors such as construction, defence, military, and others. Features such as high accuracy and credibility are mare making quantum sensing technology accessible across various industries.

Also, there are a number of lower-risk opportunities to invest in quantum technologies than quantum computers. Thus, growing interest in research communities will help quantum sensor demand grow over the coming years.

quantum-sensors-market

Country-wise Insights

Why Does the U.S. Account for a Large Share in Quantum Sensors in the North American Region?

The U.S. market accounted for US$ 74.7 Mn valuation in 2020. High growth is primarily attributed to quantum sensor manufacturers and service providers who are investing more in quantum technology and quantum entanglement of the electromagnetic field for technological advancements in the U.S.

Demand for quantum sensors in the medical industry across North America is increasing at a significant rate, which provides new market growth opportunities for quantum sensor suppliers.

What’s Driving Demand for Quantum Sensors in France?

Demand in France is projected to surge at nearly 8.2% CAGR over the forecast period (2021-2031). It has been observed that France, Spain, Germany, Russia, and BENELUX hold a strong share in the European quantum sensors industry. France is projected to witness significant rate of deployment of quantum imaging, quantum simulation, and quantum sensing technology.

Which Country Leads the South Asia Pacific Market for Quantum Sensors?

The market in India is anticipated to be valued around US$ 14.3 Mn by 2031. By 2031, India is set to account for 41.7% market share in South Asia and Pacific. India a rapidly growing economy and is expected to offer a favourable market for quantum sensor vendors.

Moreover, governments are investing heavily in the research & development of quantum sensing platforms, which is also estimated to fuel market growth in the region.

Category-wise Insights

Which Type of Quantum Sensor is Most Demanded across the World?

Based on type, quantum sensors are available as atomic clocks, gravity sensors, magnetic sensors, rotation sensors, imaging sensors, and temperature sensors. The magnetic sensors sub-segment was valued US$ 91.7 Mn in 2020, and is anticipated to register a high CAGR of 5.5% during the forecast period (2021-2031).

Magnetic quantum sensors offer various applications such as microscopy, positioning systems, electric and magnetic field sensors, communication technology, and others. These applications can fuel development of magnetic sensors, which can revolutionize applications such as magnetic brain-mapping and dementia research.

What’s the Impact of the Defense Industry on Sales of Quantum Sensors?

The market is segmented as defense, oil & gas, transportation, construction, medical & healthcare, IT & telecommunication, agriculture, and others.

The defense industry held the highest market share in terms of value in 2020, and is set to experience a CAGR of 6.8% from 2021 to 2031.

Deployment of quantum sensors in nuclear power plants is likely to help in greater plant efficiency and safety. Quantum sensors are majorly used in the defense industry for various application such as Position, Navigation and Timing (PNT), detecting submarines and stealth aircraft, and asset integrity monitoring, among others.

COVID-19 Impact Analysis

The COVID-19 pandemic has interrupted everything as production halted, customers got self-isolated in their homes, and global trade was stopped between several countries.

The quantum sensors market is facing a slowdown as a result of the COVID-19 pandemic, including effects triggered by self-isolation guidelines, manufacturers’ moving supply chains away from China, and modifying quantum sensor product material used for essential commodities.

During the corona pandemic, production of sensors in China and the U.S. fell by up to 30%-40% compared to normal volumes, but recovered as the infection curve fell and is now back to last year’s levels in the defense, oil & gas, transportation, construction, medical & healthcare, IT & telecommunication, and others industry segments.

However, according to estimates, quantum sensor sales declined during Q3-Q4, 2020, and are now estimated to recover and return to growth by Q2-Q3, 2022.

Competitive Landscape

Quantum sensor manufacturers focus on maintaining their strength, that is, vast product portfolio. Also, they indulge in continuous research & development to upgrade and innovate their existing products.

  • In March 2021, Australian start-up Q-Ctrl developed quantum sensors for space applications. It is also developing quantum sensors to send to the Earth’s orbit, the Moon, and eventually Mars.
  • In 2018, Supracon successfully finished an R&D project for the development of a quantum calibrator for DC- and AC-currents, as well as resistances based on its AC-Quantum Voltmeter.

Quantum Sensors Industry Report Scope

Attribute

Details

Forecast period

2021-2031

Historical data available for

2016-2020

Market analysis

USD Million for Value

Key regions covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • The Middle East & Africa

Key countries/regions covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key market segments covered

  • Type
  • Industry
  • Region

Key companies profiled

Report coverage

  • Market Forecasts
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & pricing

Available upon request

Quantum Sensors Industry Research by Category

Type:

  • Atomic Clocks
  • Gravity Sensors
  • Magnetic Sensors
  • Rotation Sensors
  • Imaging Sensors
  • Temperature Sensors

Industry:

  • Quantum Sensors for Defense
  • Quantum Sensors for Oil & Gas
  • Quantum Sensors for Transportation
  • Quantum Sensors for Construction
  • Quantum Sensors for Medical & Healthcare
  • Quantum Sensors for IT & Telecommunication
  • Quantum Sensors for Agriculture
  • Others

Media Release

- FAQs -

The global quantum sensors market is currently valued at around US$ 303.8 Mn.

More accurate sensing and measurement features, growing interest in research communities, and increasing investments in quantum technology are factors diving market growth.

From 2016 to 2020, global demand for quantum sensors increased at a CAGR of 4.1%.

Demand for quantum sensors is projected to surge at 5.7% CAGR and be valued at US$ 530.6 Mn by 2031.

Microsemi Corp. (Microchip Technology Inc.), Oscilloquartz (ADVA Optical Networking), Muquans (iXblue), Supracon AG, and M Squared Lasers Limited are the top 5 quantum sensor manufacturers and technology providers, accounting for around 40% market share.

The market for quantum sensors in North America is anticipated to be valued of US$ 143.2 Mn by the end of 2031.

The U.S., China, France, India, and Indonesia are major demand countries for quantum sensors.

The U.S., Germany, Japan, India, and China are key producers of quantum sensors.

The quantum sensors market in China and India is projected to create an incremental $ opportunity of US$ 24.7 Mn and US$ 25.1 Mn, respectively, from 2021 to 2031.

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