Quantum technology is quickly penetrating large-scale industrial verticals. The technology plays an important role in enhancing technical applications such as imaging, sensing, computing and simulation. Many of these applications use quantum sensors for checking accuracy and measurement. Highly complex correlations, which were previously difficult to gauge are now being calculated using quantum sensors. The market for quantum sensors is growing fast. As per the latest report published by Market Research Future (MRFR), the global Covid-19 Impact on Quantum Sensors market will surge at a sound CAGR of 5.49% during the forecast period (2018-2023).
Quantum sensors are replacing the traditional systems, as they are more accurate and credible. In future, they are anticipated to bring transformation in design and application of products and services that are industrially manufactured. A number of companies are investing in quantum sensing technology to harness its features and thereafter integrate them to their products. The growth global Covid-19 Impact on Quantum Sensors market is being influenced by the increased penetration of quantum sensing technology in military, healthcare and automotive. In addition, increased emphasis on improving sensor technology is paving the way for Covid-19 Impact on Quantum Sensors market. However, lack of technical expertise in quantum technology is limiting the market potentials.
Access Report Details @ https://www.marketresearchfuture.com/reports/quantum-sensors-market-5273
Segments
MRFR’s report includes a detailed segmental analysis of the global Covid-19 Impact on Quantum Sensors market based on vertical and product.
By vertical, the market has been segmented into automotive, oil and gas, military and defense, healthcare, agriculture and others. The military and defense segment holds the largest share of the market. By 2023, the segment is expected to surpass a valuation of USD 50 Mn, witness an above-average CAGR. Rapid adoption of quantum sensors in military applications is driving the segment’s growth. Quantum sensor are fitted in military and defense devices that are used for surveillance and monitoring purposes.
Based on product, the market has been segmented into photosynthetically active radiation (PAR) quantum sensors, magnetic sensors, atomic clocks, gravity sensors and others. The atomic clocks segment is expected to remain highly lucrative in 2018 and beyond. The segment is projected to reach a market valuating of more than USD 120 Mn by 2023-end. The high accuracy of atomic clocks is driving their popularity of the several industrial domains. Atomic clocks are low cost, compact, and developed as per the international standards and are extensively used as a part of compliant holographic technology and complex laser systems. The PAR Quantum sensor segment is also expected to witness a significant growth during the assessment period. PAR Quantum sensor are increasingly used for measuring photon irradiance and quantity of PAR light. Such sensors relatively more durable, which allows their application in tougher conditions.
Regional Analysis
The market has been covered across regions such as Europe, North America, Latin America, the Middle East & Africa (MAE) and Asia Pacific (APAC). Of these, the market in Europe posted a strong growth in 2017. Europe holds a significant share of the global Covid-19 Impact on Quantum Sensors market and will continue to attract market players throughout the assessment period. Europe commanded 36% share of the global market in 2017 and likely to retain its dominant position over 2023. Meanwhile, North America accounted for 29% share of the global market in 2017, which makes it’s the second largest market for quantum sensors. APAC is also emerging as an important market for quantum sensors, during the forecast period, the region’s market will exhibit the highest CAGR.
Key Players
MRFR’s report includes a comprehensive market player assessment, which includes Adcon Telemetry Gmbh, Biospherical Instruments Inc., Skye Instruments Ltd., ADVA Optical, Spectrum Technologies Inc., Thomas Industrial Network Inc., M-Squared Lasers Limited, GWR Instruments Inc., AOSense, Networking (Oscilloquartz), Radix, METER Group, Impedans Ltd., Apogee Instrument Inc., Technology (Microsemi), Microchip and Muquans.
