Global Quantum Sensors Market
About this market
Technavio’s quantum sensors market analysis considers sales from atomic clocks, PAR quantum sensors, gravity sensors, magnetic sensors, imaging sensors, and rotational sensor products. Our analysis also considers the sales of quantum sensors in the Americas, APAC, and EMEA. In 2018, the atomic clocks segment had a significant market share. However market growth in the atomic clocks segment will be slower than the growth of the market in PAR quantum sensors segment. Factors such as increasing number of environmental studies and agronomic and agricultural research projects will play a significant role in the PAR quantum sensors segment to maintain its market position. Also, our global quantum sensors market report looks at factors such as rising investments in quantum technology by market participants, growing number of research activities in the market, and introduction of modern technologies in the market. However, challenges in commercializing products, quantum decoherence, and dependency on few key suppliers may hamper the growth of the quantum sensors industry over the forecast period.
Global Quantum Sensors Market
Rising investments in quantum technology by market participants
Market participants are investing in the development of new products to explore the potential applications of quantum sensing. Many governments across the world are providing grants to help vendors increase their R&D efforts. For instance, the US Department of Energy (DOE) recently announced to provide financial assistance for research in Quantum Information Science (QIS) related to both particle physics and fusion energy sciences. The increasing investments in the market will lead to the expansion of the global quantum sensors market at a CAGR of over 11% during the forecast period.
Growing number of strategic partnerships in the market
The growth of the global quantum sensors market is driven by an increasing number of strategic partnerships. Vendors in the market are forming strategic partnerships with other vendors, research institutes, labs, and distributors Strategic partnerships enable market participants to leverage each other's technological expertise for product development. For instance, in June 2019, the Qatar Environment and Energy Research Institute (QEERI) partnered with Japan’s International Center for Materials Nanoarchitechtonics to develop multiple nano-electronic devices, quantum sensors, and other quantum electronics. It enables vendors to expand their strong geographical presence and gain access to new clients. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global quantum sensors market during the forecast period 2019-2023, click here.
With the presence of several major players, the global quantum sensors market is moderately fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading quantum sensors manufacturers, that include ADVA Optical Networking SE, AOSense Inc., Apogee Instruments Inc., GWR Instruments Inc., Kipp & Zonen BV, LI-COR Inc., Microsemi Corp., M-Squared Lasers Ltd., Muquans, and Skye Instruments Ltd.
Also, the quantum sensors market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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