Quantum Sensors Market Size Worth USD 714.2 Million by 2028 | Quantum Sensors Industry Expected CAGR 7.9% | Vantage Market Research

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WASHINGTON, May 23, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Quantum Sensors Market finds that increasing investment in quantum technology, Quantum Sensors Market development activities, research funding for Quantum Sensors Market production and, demand for Quantum Sensors Market in the automobile sector are some major parameters that are responsible for the growth of the Quantum Sensors Market in recent years.

The total Global Quantum Sensors Market is estimated to reach USD 714.2 Million by the year 2028. The Global Market revenue stood at a value USD 452.6 Million in the year 2021 and the Global Market is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 7.9%, states Vantage Market Research, in a report, titled “Quantum Sensors Market Size, Share & Trends Analysis Report by Product Type (Gravity Sensors, Atomic Clocks, PAR Quantum Sensors, Magnetic Sensors), by Application (Military and Defense, Automotive, Oil and Gas, Healthcare), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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Market Dynamics:

Drivers:

Increasing Research Activities for the Development of Quantum Sensors Market Drives the Market

Recently, the research related activities carried out by governments and/or private organizations has increased. According to the study of the University of Sussex (England), researchers announced that the sensors could be used to scan patients periodically to check for changes in brain activity. Thus, increasing research activity for the development of Quantum Sensors Market plays an important role in the growth of the Quantum Sensors Market in the near future. For instance, researchers at the University of Waterloo’s Institute announced that newly developed Quantum Sensors Market are used for adding remote sensing capabilities for monitoring cancer treatments.

Key Insights & Findings from the Report:

  • According to our primary respondents’ research, the Quantum Sensors market is predicted to grow at a CAGR of roughly 7.9% during the forecast period.

  • The Quantum Sensors market was estimated to be worth roughly USD 452.6 Million in 2021 and is expected to reach USD 714.2 Million by 2028; based on primary research.

  • On the basis of region, Asia Pacific is projected to dominate the worldwide Quantum Sensors market.

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Segmentation of the Global Quantum Sensors Market:

  • Product Type

    • Gravity Sensors

    • Atomic Clocks

    • PAR Quantum Sensors

    • Magnetic Sensors

  • Application

    • Military and Defense

    • Automotive

    • Oil and Gas

    • Healthcare

    • Others

  • Region

    • North America

    • Europe

    • Asia Pacific

    • Latin America

    • Middle East & Africa

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Increasing Demand for Quantum Sensors Market in Automotive Industry Fuels the Market

Nowadays, the demand for atomic quantum clocks has increased because of their high frequency and stable task features. Therefore, these sensors have been used in various communication technologies. Due to their potential benefits, these sensors are majorly used in the automotive industry for navigational purposes. One of the primary factors that is responsible for the growth of the Quantum Sensors Market in the automotive sector is the increasing trend for autonomous vehicles. Quantum Sensors Market are majorly used in the automotive sector in order to monitor motion, including imaging, gravity, acceleration, rotation. Therefore, the high demand for Quantum Sensors Market in the automotive industry is accelerating the high growth of the Quantum Sensors Market in projected years.

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

  1. Impact Assessment of COVID-19 Pandemic

    1. North America

    2. Europe

    3. Asia Pacific

    4. Latin America

    5. Middle East & Africa

  2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021

  3. Key Strategies Undertaken by Companies to Tackle COVID-19

  4. Long Term Dynamics

  5. Short Term Dynamics

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The Report on Quantum Sensors Market Highlights:

  • Assessment of the Market

  • Premium Insights

  • Competitive Landscape

  • COVID Impact Analysis

  • Historic Data, Estimates and Forecast

  • Company Profiles

  • Global and Regional Dynamics

Regional Analysis:

Europe Holds Maximum Market Share

Europe accounted for maximum growth for the Quantum Sensors Market in 2021. This surge is attributed because this region is an early investor in quantum technologies. Therefore, this region is responsible for high growth of the Quantum Sensors Market in coming years. In addition, the U.K. is the major contributor to the market. Furthermore, the U.K. government announced the Autumn Statement in 2013 to set up the National Quantum Technologies Programme. Moreover, the high demand for these sensors in military and defense industries fuels the growth of the Quantum Sensors Market in this region.

List of Prominent Players in the Quantum Sensors Market:

  • Apogee Instrument Inc.

  • GWR Instruments Inc.

  • Thomas Industrial Network Inc.

  • Networking (Oscillo quartz)

  • Adcon Telemetry Gmbh

  • METER Group

  • Microchip Impedans Ltd.

  • M-Squared Lasers Limited

  • Spectrum Technologies Inc.

Browse market data Tables and Figures spread through 142 Pages and in-depth TOC on "Quantum Sensors Market Size, Share & Trends Analysis Report by Product Type (Gravity Sensors, Atomic Clocks, PAR Quantum Sensors, Magnetic Sensors), by Application (Military and Defense, Automotive, Oil and Gas, Healthcare), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/quantum-sensors-market-260412

Recent Developments:

March, 2021: Q-Ctrl developed a Quantum Sensors Market to send to Earth orbit, the moon, and eventually Mars. The company is working with Australian nanosatellite startup Fleet Space Technologies to develop Quantum Sensors Market to mount on the nanosatellites.

February, 2020: Muquans SAS developed its quantum differential. This apparatus can measure both gravity (g) and its vertical gradient (dg/dz) at the same time.

May, 2020: M Squared announced a large new funding round of EUR 32.5. According to M Squared, this investment from the newly formed Scottish National Investment Bank would allow the company to expand its research and development efforts.

Key questions answered in the report:

  • Which regional market will show the highest and rapid growth?

  • Which are the top five players of the Quantum Sensors Market?

  • How will the Quantum Sensors Market change in the upcoming six years?

  • Which application and product will take a lion’s share of the Quantum Sensors Market?

  • What is the Quantum Sensors market drivers and restrictions?

  • What will be the CAGR and size of the Quantum Sensors Market throughout the forecast period?        

This report titled “Quantum Sensors Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Parameter

Details

Market Size Provided for Years

2016-2028

Base Year

2021

Historic Years

2016-2020

Forecast Years

2022-2028

Segments Covered

• Product Type

  º Gravity Sensors

  º Atomic Clocks

  º PAR Quantum Sensors

  º Magnetic Sensors


• Application

  º Military and Defense

  º Automotive

  º Oil and Gas

  º Healthcare

  º Others


• Region

   º North America

   º Europe

   º Asia Pacific

   º Latin America

   º Middle East & Africa

Region & Counties Covered

• North America

  º U.S.

  º Canada

  º Mexico


• Europe

  º U.K

  º France

  º Germany

  º Italy

  º Spain

  º Rest Of Europe


• Asia Pacific

  º China

  º Japan

  º India

  º South Korea

  º South East Asia

  º Rest Of Asia Pacific


• Latin America

  º Brazil

  º Argentina

  º Rest Of Latin America


• Middle East & Africa

   º GCC Countries

   º South Africa

   º Rest Of Middle East & Africa

Companies Covered

• Apogee Instrument Inc.

• GWR Instruments Inc.

• Thomas Industrial Network Inc.

• Networking (Oscilloquartz)

• Adcon Telemetry Gmbh

• METER Group

• Microchip Impedans Ltd.

• M-Squared Lasers Limited

• Spectrum Technologies Inc.

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

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