The global market for sensors using quantum technology is set to reach nearly $330m by 2025 as the technology takes off in embedded applications.
This growth is being driven by increasing adoption of quantum sensors in defence, oil & gas, transportation, and construction markets.
The report by Persistence Market Research sees the market expanding at a moderate rate of 4.3% a year from 2016 as it moves from a surge in demand of atomic clocks to improve the accuracy of time sensitive signals for IoT applications such as autonomous cars and drones.GPS systems are inherently dependent on precise calculations of timing for efficient communication between the GPS using device and the satellite providing GPS co-ordinates.
Quantum gravity sensors will bring considerable accuracy in the process of ground scanning for oil drilling and extraction and help drillers to get a clear picture of what is under the ground helping them discover pockets of crude oil left undiscovered with the usage of classical methods.
The type segment of the global quantum sensors market includes atomic clock, gravity sensor, magnetic sensor, rotation sensors, imaging sensors, and temperature sensors. Among type segments, atomic clock segment is expected to dominate the global quantum sensors market with US$ 127.8 Mn revenue in 2025. The atomic clock segment is expected to gain significant traction throughout the forecast period and gravity sensors will also see a steady growth of 4.7% ayear.
Among the industry verticals, defence applications are anticipated to expand at a CAGR of 5.3% during the forecast period to $101m, with Europe leading the business. It already 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 $73.7m and is expected to reach $111.8 in 2025 with a CAGR of 4.9%.
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