Quantum Sensors Market : Drivers, Challenges, Historical and current Sizes (2017 – 2025)
Global quantum sensors market is expected to witness steady revenue growth during the forecast period. This growth is attributed to increasing adoption of quantum sensors in verticals such as defense, oil & gas, transportation, and construction. Persistence Market Research has come up with a new report, “Quantum Sensors Market: Global Industry Analysis and Forecast (2016–2025),” which offer key insights of the global quantum sensors market to the audiences. This report has revealed some interesting facts about the market opportunities across several applications of the global quantum sensors market. Global quantum sensors market was valued at US$ 228.7 Mn in 2016 and is projected to reach US$ 329.4 Mn by 2025 end. The market is expected to expand at a moderate rate of CAGR 4.3 % during the projected period, i.e. 2016-2025. The focus of this report is on quantum sensor providers who work with leading research institution to drive the market commercialization of technologies being developed in the industry.
Global Quantum Sensors Market: Opportunity Analysis
- The global quantum sensors market will experience a surge in demand of atomic clocks to improve the accuracy of time sensitive signals, as IoT applications such as autonomous cars and drones reach their maturity and start demanding higher accuracy from GPS devices.
- GPS systems are inherently dependent on precise calculations of timing for efficient communication between the GPS using device and the satellite providing GPS co-ordinates.
- The usage of fossil fuels is increasing with urbanization, as more and more people prefer air travel and personal vehicles. Providing ample fuel to support the growing demand is emerging as a primary challenge for the oil & gas industry.
- Gravity sensors will bring considerable accuracy in the process of ground scanning for oil drilling and extraction. Quantum gravity sensors will help drillers to get a clear picture of what is under the ground helping them discover pockets of crude oil left undiscovered with the usage of classical methods
Global Quantum Sensors Market: Forecast by Type
The type segment of the global quantum sensors market includes atomic clock, gravity sensor, magnetic sensor, rotation sensors, imaging sensors, and temperature sensors. Among type segments, atomic clock segment is expected to dominate the global quantum sensors marketwith US$ 127.8 Mn revenue in 2025. Atomic clock segment is expected to gain significant traction throughout the forecast period. Gravity sensors segment is also expected to register steady increase in Y-o-Y growth rates throughout the forecast period. In terms of value, this segment is expected to expand at a CAGR of 4.7% during the forecast period.
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Global Quantum Sensors Market: Forecast by Industry Vertical
This segment is consists of defense, oil & gas, transportation, construction, medical and healthcare, IT & telecommunication, agriculture, and others. Among industry verticals, defense segment is anticipated to expand at a CAGR of 5.3% during the forecast period. The defense segment is likely to be valued at 101.7 Mn in 2025.
Global Quantum Sensors Market: Forecast by Region
Europe global quantum sensors market is expected to witness relatively high growth rate over the forecast period. Revenue from the global quantum sensors market in North America and Europe collectively accounted for over 60% of the global quantum sensors marketrevenue in 2016. Market in Asia Pacific is expected to witness moderate growth rate over the forecast period. Europe market accounts for the largest share in the global quantum sensors market and is expected to lead the market in future. In 2016, Europe quantum sensors market was valued at US$ 73.7 Mn and is expected to reach US$ 111.8 in 2025 with a CAGR of 4.9%.