Chicago, Oct. 20, 2022 (GLOBE NEWSWIRE) -- According to the new market research "Quantum Sensors Market by Product Type (Atomic Clocks, Magnetic Sensors, PAR Quantum Sensors, Gravimeters & Accelerometers), Application (Aerospace & Defense, Oil & Gas, Agriculture, Automotive, Mining, Healthcare) and Region - Global Forecast to 2027", The growing need for high-precision and accurate measurements in crucial applications such as aerospace and defense and autonomous vehicles is driving the demand for quantum sensing technology.
Top Market Leaders - Quantum Sensors Companies
Campbell Scientific, Inc. (US), ID Quantique SA (Switzerland), LI-COR, Inc. (US), M Squared Ltd. (UK), and Muquans SAS (France)
- Expected Market - $565 Million by 2027
- Projected to grow from - $260 Million in 2022
- At a CAGR – 16.8%
- Year of Considered – 2019-2027
- Base Year – 2021
- Forecast Period – 2022-2027
- Segments Covered – Platform, Product Type, and Application
- Geographic regions covered - North America, APAC, Europe, and RoW
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Browse in-depth TOC on " Quantum Sensors Industry"
138 – Tables
47 – Figures
172 – Pages
Top 5 Players in global Quantum Sensors Market:
Campbell Scientific, Inc.
Campbell Scientific, Inc. is involved in designing and manufacturing data loggers, data acquisition systems, and measurement and control products. The company caters to the research, industrial, and environmental markets. The company develops high-performance, robust, precision PAR quantum sensors and offers them to the environmental and agricultural sectors. The company has established an exceptional geographic presence via affiliate offices in major countries, including Canada, China, France, Germany, India, South Africa, and the UK.
ID Quantique SA
ID Quantique SA is a global company providing quantum-safe security, random number generation, and quantum sensing technologies. The company operates through two business units: Quantum Safe-security and Quantum Sensing. The Quantum Sensing segment’s products cater to various applications, such as quantum physics, communication, bio and material sciences, defense and security, and oil and gas. The company is headquartered in Switzerland and has engineering and R&D labs and offices in the US and South Korea.
LI-COR, Inc.
LI-COR, Inc. is an American company developing and manufacturing high-performance instruments for plant biology and environmental research. The company has introduced various innovative instruments over time and has a complete range of instruments needed for environmental and plant research, which includes terrestrial and underwater radiation sensors, as well as light meters and data loggers. The company first introduced its quantum sensor in 1971, marketed by LI-185 Quantum/Radiometer/Photometer. Since then, various developments and innovations have led the company to be one of the key players in the global market.
M Squared Ltd.
M Squared Ltd. is a scientific laser-engineered company that develops instruments based on photonics and quantum technology. The products developed by the company are used in various applications, including quantum technology, biophotonics, and chemical sensing. The company developed the UK’s first quantum sensor in collaboration with the Imperial College London. The company provides a wide range of quantum technology products, including quantum accelerometers, gravimeters, clocks, optical systems, and electronics. These quantum products are used in sensing, navigation, accelerometery, gravimetry, and metrology. It offers quantum technology products to various businesses and research institutions.
Muquans SAS
Muquans SAS is a high-tech company specializing in high-performance gravity sensing, time and frequency applications, and laser solutions. Its product portfolio includes absolute quantum gravimeter, MuClock, laser and optical solutions, time and frequency transfer, and custom solutions. The absolute quantum gravimeters offered by the company are one of the popular quantum gravimeters available on the marketplace. They are compact and transportable sensors and require low maintenance.
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OPPORTUNITIES: Growing demand for quantum sensors in medical sector
Several organizations and research institutes have recently undertaken research and development initiatives to develop quantum sensors for medical and healthcare applications.
These research activities have proven that quantum-enabled devices could enhance the precision of medical testing and imaging processes. The highly accurate data generated by quantum devices can further improve the detection process of chronic diseases. For instance, researchers from the University of Stuttgart have stated that quantum sensors can detect cancer at an early stage. Moreover, they can transform robotic operations and prosthetics by measuring and monitoring the smallest variations. Quantum sensors also can outperform traditional detection processes such as Magnetic Resonance Imaging (MRI). Thus, the increasing applications of quantum sensors in the medical sector are expected to create lucrative opportunities for market players.
CHALLENGES: Technical challenges associated with the use of quantum sensors
Quantum sensors are sensitive in nature because they have to make measurements at quantum and atomic states. The high sensitivity makes them a preferred choice in critical applications across the aerospace & defense industry.
However, this makes them difficult to use in normal industrial applications. Hence, when it comes to other potential applications of these sensors outside of laboratory settings or controlled environments, they could face some technical challenges that have been listed below.
- Hardware Limitations: One of the key challenges for quantum sensor deployment is the lack of hardware designed for sensing outside the controlled laboratory setting where temperatures and conditions remain relatively stable. Limited availability of suitable hardware for real-world applications limits the deployment of quantum sensors in many applications.
- Handling Unwanted Noises: Quantum sensors can detect very small changes as they are highly sensitive to their surroundings. Hence, the quantum sensors are prone to pick up unwanted noises from their background.
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