38% of Growth to Originate from Europe for Quantum Sensors Market|Evolving Opportunities with ADVA Optical Networking SE & AOSense Inc.|17000+ Technavio Reports
NEW YORK, Dec. 29, 2021 /PRNewswire/ -- 38% of the growth will originate from Europe for the quantum sensors market. The UK and Germany are the key markets for quantum sensors in Europe. Market growth in this region will be faster than the growth of the market in MEA. Increasing investments in satellite communication and the rising number of launches of satellites that are used to gather intelligence as well as enable navigation and military communications will facilitate the quantum sensors market growth in Europe over the forecast period.
The quantum sensors market size is expected to increase by USD 362.79 million from 2020 to 2025, registering a CAGR of 12.70%, according to the latest research report from Technavio.
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The quantum sensors market covers the following areas:
Quantum Sensors Market - Driver & Challenge
The thriving quantum sensors market is attracting significant investments from market participants. Market players are increasing their focus on the development of new products to explore the potential applications of quantum sensors. 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 funding is expected to support the development of highly sensitive quantum sensors for the detection of rare particles.
However, the slow process for the commercialization of any new product in the market is a major challenge. Market participants are undertaking many research projects and developing new products, but the commercialization of products is very slow. For instance, researchers have successfully achieved the manufacturing of quantum sensors by NV color center; however, the market is yet to witness any commercial impact of this discovery in any application.
Quantum Sensors Market - Segmentation & Revenue Generating Segment
Technavio analyzes the quantum sensors market by Product (atomic clocks, PAR quantum sensors, gravity sensors, magnetic sensors, and others), Application (military and defense, agriculture, oil and gas, automotive, and others), and Geography (Europe, North America, APAC, MEA, and South America).
The quantum sensors market share growth by the segment of the atomic clock will be significant for revenue generation. As quantum sensors make use of supercooled or ultracold rubidium atoms, they can be integrated within atomic clocks to provide a high combinatorial level of accuracy. Atomic clocks are used in a wide range of applications that require effective measurement of time. The global quantum sensors market is still in the development stage, and constant R&D has led to the adoption of quantum-based atomic clocks in new emerging applications. This is driving the growth of the market.
Companies Mentioned
The quantum sensors market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
- ADVA Optical Networking SE
- AOSense Inc.
- Apogee Instruments Inc.
- GWR Instruments Inc.
- Kipp and Zonen BV
- LI-COR Inc.
- Microchip Technology Inc.
- M-Squared Lasers Ltd.
- Muquans
- Skye Instruments Ltd.
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Quantum Sensors Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.70% |
Market growth 2021-2025 |
USD 362.79 million |
Market structure |
Fragmented |
YoY growth (%) |
12.25 |
Regional analysis |
Europe, North America, APAC, MEA, and South America |
Performing market contribution |
Europe at 38% |
Key consumer countries |
US, UK, China, Germany, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
ADVA Optical Networking SE, AOSense Inc., Apogee Instruments Inc., GWR Instruments Inc., Kipp and Zonen BV, LI-COR Inc., Microchip Technology Inc., M-Squared Lasers Ltd., Muquans, and Skye Instruments Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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