Quantum Sensor Revenues to Reach Over $1 Billion by 2023: New Inside Quantum Technology Report Reveals Market Sizing and Strategies for Quantum Sensor Age
CROZET, Va., Sept. 18, 2018 (GLOBE NEWSWIRE) -- Quantum sensors exhibit a high degree of sensitivity based on quantum phenomena such as quantum entanglement. They enable new markets and -- according to “Quantum Sensors Markets: 2018 and Beyond,” -- a new report published by Inside Quantum Technology ( www.insidequantumtechnology.com ), revenues from the quantum sensor market will reach $1.3 Billion in 2023 growing to $2.2 Billion by 2028. The research was conducted by Inside Quantum Technology’s research division, IQT Research.
More details of the report including a full table of contents, sample from the report and pricing are available at https://www.insidequantumtechnology.com/product/quantum-sensors-markets-2018-beyond/
Description of this report:This report provides a strategic analysis of the main products, markets and key companies active in the quantum sensor business. Quantum sensors considered in this report include atomic clocks, single-photon detectors, PAR sensors, quantum LiDAR and quantum radar, gravity sensors, quantum magnetometers, quantum imaging devices and others. The report also takes a look at materials used for quantum sensors, especially diamond and graphene. End user markets for quantum sensors that are covered in the report include:
-- Transportation (Autonomous vehicles, navigation, GPS and air traffic control) -- Agriculture, horticulture and aquaculture -- Networked industries (telecom and smart grids) -- Construction and surveying -- Financial trading -- Medical imaging -- Defense and aerospace -- Research and development -- Internet-of-Things
Many smaller traditional sensor firms are already active in the quantum sensor business to some extent, but some industry giants have also taken a stake in the sector including Bosch, Honeywell, HP, ST Microelectronics and Texas Instruments.
Inside Quantum Technology includes highly granular ten-year market forecasts in this report in both revenue and (where possible) volume shipment terms. Each end-user sector is forecast by the type of quantum sensors being used. Some of the devices considered in this report – such as PAR sensors – represent relatively mature technology. Others – gravity sensors and quantum LiDAR, for example – are only beginning to make an impact. We believe, however, that all quantum sensor technology has strong commercial prospects ahead of it and that the business will also benefit from increasing levels of government and VC funding for quantum technology in general. There is also emerging technologies – such as quantum photonics – that will lead to new kinds of quantum sensor products being developed in the near future.
From the report:
-- The largest segment of the quantum sensor market is made up of atomic clocks, which will reach over $0.5 billion in revenues by 2022. Sales of atomic clocks are being driven by new applications such as smart grids and “time stamping” in the financial services industry, as well as growth of private navigation systems outside of public GPS. There are also important technological changes in atomic clocks, notably the emergence of chip-scale devices -- Medical applications for quantum sensors will reach almost $270 million by 2023 as the result of a broad range of fast growing applications in medical imaging and medical wearables. Quantum imaging devices may be used to supplement existing medical imaging modalities and there will be a large growth in demand for SQUID sensors as the result of the growing number of applications for magnetoencephalography (MEG), which can be more comfortable than MRIs -- The quantum sensors market will also provide significant opportunities in the future for specialty chemical companies and firms that sell novel materials in research quantities. For example, there is considerable materials development work around building new kinds of superconducting nanowire single-photon detectors (SNSPDs). Quantum dots, graphene, silicon and industrial diamond appear to also have important roles to play in the future of quantum sensors.
About Inside Quantum Technology:
Inside Quantum Technology is the first company to be entirely dedicated to meeting the strategic information and analysis needs of the emerging quantum technology sector. In addition to arranging conferences and publishing articles of critical importance to the quantum technology sector, our consulting group, IQT Research, provides published reports on most of the important revenue opportunities in quantum technology.
The quantum sensor report is part of a new series of IQT Research reports covering the commercial opportunities in the emerging markets for quantum technology products. Previous reports in this space include industry analysis studies on quantum key encryption, Quantum Networks and quantum computing.
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