(MENAFN- GlobeNewsWire - Nasdaq) Dublin, June 21, 2024 (GLOBE NEWSWIRE) -- The "Quantum Sensors market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
World revenue for the Quantum Sensors Market is set to surpass US$638.6 million in 2024, with strong revenue growth through to 2034.
The global quantum sensors market is significantly driven by advancements in quantum technology and research. As scientific understanding of quantum mechanics improves, the development of more sophisticated and sensitive quantum sensors becomes possible. Quantum sensors exploit the principles of superposition and entanglement to measure physical quantities with unprecedented accuracy. For example, research institutions such as the Massachusetts Institute of Technology (MIT) and companies like IBM and Google are investing heavily in quantum research.
These advancements are leading to the creation of highly sensitive magnetometers, gravimeters, and atomic clocks, which are crucial for various applications ranging from medical imaging to navigation. The continuous progress in quantum technology is expanding the potential applications of quantum sensors, making them more viable for commercial use and driving market growth.
One of the significant challenges hindering the quantum sensor market is the shortage of skilled professionals capable of developing and effectively working with quantum technologies. Quantum sensors, leveraging principles of quantum mechanics, require specialized knowledge in quantum computing, nanotechnology, and advanced physics. However, the pool of experts proficient in these fields remains limited, posing a bottleneck to the widespread adoption and advancement of quantum sensor technologies.
The complexity of quantum systems demands expertise not only in theoretical quantum mechanics but also in practical applications and experimental methodologies. Developing quantum sensors involves overcoming technical challenges such as maintaining quantum coherence, optimizing sensor performance, and integrating quantum systems with existing technologies. Without a sufficiently skilled workforce, companies and research institutions face delays in innovation cycles and may struggle to fully exploit the capabilities of quantum sensors across various industries.
Key Market Dynamics
Market Driving Factors
Growing Use of Quantum Sensor in Space Industry Emerging Biomedical and Health Sciences Market Driving the Market Growth Rising Use of Quantum Sensors for Accurate Navigation in Oceanography and Marine Application
Market Restraining Factors
Lack of Skilled Professionals Capable of Developing and Working with Quantum Technologies The Production of Quantum Sensors Involves Expensive Materials and Complex Manufacturing Processes Regulatory Hurdles Hinder the Market Growth
Market Opportunities
Government and Private Sectors Investment Opportunities for the Market Growth Collaboration and partnership Between Market Players Opportunities for the Market Growth Launching New Products in the Quantum Sensor Market Opportunities for Market Growth
Forecasts to 2034 and other analyses reveal commercial prospects
In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares. You will find original analyses, with business outlooks and developments. Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising quantum sensors prices and recent developments.
Report Segmentation:
Market Segment by Component
Quantum Dots Quantum Cascade Lasers Other Components
Market Segment by Application
Aerospace & Defence Oil & Gas Automotive Other Applications
Market Segment by Platform
Neutral Atoms Trapped Ions Nuclear Magnetic Resonance Optomechanics Other Platforms
Market Segment by Product Type
Atomic Clocks Magnetometers Gradiometers Imaging Devices Quantum Metrology Devices Other Products
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets.
The report also includes profiles and for some of the leading companies in the Quantum Sensors Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
AOSense, Inc. Apogee Instruments, Inc. Atomionics Pte. Ltd. Campbell Scientific, Inc. GEM Systems Inc ID Quantique Impedans Ltd Kipp & Zonen LI-COR, Inc. M Squared Ltd Nomad Atomics Q-CTRL Qnami Sea-Bird Scientific Skye Instruments Ltd
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