Quantum Sensors Market worth $565 million by 2027 at a CAGR of 16.8%
(I-BusinessNews.Com, September 22, 2022 ) The Global Quantum Sensors Market size is anticipated to grow from USD 260 million in 2022 to USD 565 million by 2027, at a CAGR of 16.8% from 2022 to 2027. A quantum sensor is used to measure physical quantities in positioning, navigation, and timing applications across various industries and sectors, including aerospace & defense, geology, and environment. All these industries and sectors are going through a paradigm shift by adopting advanced technologies such as IoT, autonomous vehicles, AI, IIoT, and robotics. Technological innovations are driving the demand for highly accurate and precise measuring instruments such as quantum sensors. Along with this, the growing interest, and investments in quantum technologies, including quantum computers, quantum communications, and quantum sensing, are driving the growth of the global quantum sensor market.
The Photosynthetically Active Radiation (PAR) quantum sensors measure the photosynthetic radiation, i.e., the amount of light intensity that is below a single or multiple light source. The PAR is important for crop growth as plants use photosynthesis as an energy source. Hence, PAR sensors are widely used in greenhouses or canopies. The radiation is variable throughout the day as it depends on latitude and time of day. Underwater coral reefs also use the PAR as their energy source. The PAR quantum sensors are used on the land or underwater to determine the radiation and in crop cultivation. These PAR quantum sensors are used in outdoor environments, greenhouses, and growth chambers over and under plant canopies. The PAR quantum sensors are also useful for aquatic environments where corals are grown, including saltwater aquariums. They are widely used in the agriculture and marine biodiversity sectors.
Aerospace & defense application accounted for the largest share of the quantum sensors market in 2022. In the aerospace & defense industry, quantum sensors are used to detect underground mines, nuclear materials, and other structures. The sector uses unmanned aerial vehicles (UAVs) for security purposes, which need an accurate and reliable navigation system even when GPS signals are unavailable. Hence, a non-GPS-based quantum sensing navigation system could be a perfect solution for this sector. All these applications are expected to drive the demand for quantum sensors in aerospace and defense applications.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including:
