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Author: Dr Tess Skyrme, Technology Analyst at IDTechEx
Quantum sensors promise to unlock new applications through dramatically increased sensitivity. Characterizing the quantum sensor market, quantum sensing technologies, and quantum sensor players, with report covers 17 quantum sensing technology areas along with applications in electric vehicles, GPS denied navigation, medical imaging, and quantum computing with market forecasts from 2024 to 2044. It reveals significant opportunity, with the quantum sensor market forecast to reach US$7.1bn by 2044.
Quantum sensors use quantum phenomena to enable highly sensitive measurements of many physical properties. Quantum sensors can measure time (atomic clocks), magnetic field and current, gravity, angular motion, single-photons, and more. As such, interest is growing to manufacture quantum sensors for a variety of applications, including within electric and autonomous vehicles, brain scanners, quantum computers, underground mapping equipment, satellites, and even consumer electronics. Emerging technologies within this industry are also now benefitting from the growing hype around quantum computing and communication technologies, which is continuing to drive growth today.
Wide-Ranging Technologies and Applications
Given the diversity of technologies and target applications, there is a significant variation of technology readiness level (TRL) and addressable market size across the quantum sensor space. For example, millions of chip-scale tunnelling magneto resistance (TMR) sensors have been sold into the automotive sector for remote current sensing, while biomagnetic imaging with optically pumped magnetometers is still at a very early stage. Similarly, bench-top-sized atomic clocks have been used for years for research and accurate time tracking, while chip-scale devices have yet to become mainstream. Through conversations with both research centers and technology developers, the new IDTechEx report “Quantum Sensors Market 2024-2044” assesses the technical and commercial readiness level of each underlying quantum sensing technology and provides a roadmap for future development.
Each quantum sensing technology is analyzed in turn, discussing the fundamental operating principles, miniaturization and manufacturing challenges, competitive landscape, and industry players. The report covers atomic clocks, quantum magnetic field sensors, quantum gyroscopes, quantum gravimeters, and quantum image sensors. Each quantum sensor category is assessed using SWOT analyses and technical benchmarking tables. Applications explored include timing and inertial navigation, remote current sensing, biomagnetic imaging, underground asset mapping, and quantum computing read-out.
Quantum sensor market technologies and applications roadmap. Source: IDTechEx – “Quantum Sensors Market 2024-2044”
Quantum sensor market technologies and applications roadmap. Source: IDTechEx – “Quantum Sensors Market 2024-2044”
Key Aspects of the Quantum Sensors Market Report
The new IDTechEx report, “Quantum Sensors Market 2024-2044”, provides a high-level assessment of the overall quantum sensing landscape. Covering fundamental technologies, key sensor types, and applications, the report includes:
An introduction to quantum sensing and the underlying technologies
Roadmaps by technology and application for quantum sensors
Discussion of macro-trends driving the adoption of quantum sensors
Examples of recent innovations from established and emerging players
Industry analysis based on multiple interviews and conferences
Multiple SWOT analyses across key technologies
20-year market forecasts across 5 key technology types, segmented into 17 distinct forecast lines. This includes annual revenue and annual sales volume forecasts
Assessments of technical and commercial readiness
20 company profiles covering established and emerging players, the majority based on primary interviews
To find out more about this new IDTechEx report, including downloadable sample pages, please visit www.IDTechEx.com/QuantumSensors.
Upcoming Free-to-Attend Webinar
Quantum Sensors: A Bigger Opportunity Than Quantum Computers?
Dr Tess Skyrme, Technology Analyst at IDTechEx and author of this article, will present a free-to-attend webinar on Thursday 24 August 2023 – Quantum Sensors: A Bigger Opportunity Than Quantum Computers?.
Adoption of quantum technology is growing. Indeed, IDTechEx forecasts that by 2044 the quantum sensor market will reach US$7.1 billion. Yet, for now, public interest in quantum computing is far greater than for quantum sensing. But beyond the headlines, how does the market opportunity for computing and sensing really compare, and which material platforms could generate the most value long term?
This webinar will address these questions and more, answering:
What is the status and outlook for the quantum technology industry as a whole?
How do different hardware platforms for quantum sensing compare?
Which new applications are unlocked by quantum sensors?
How does the scale and type of opportunity differ between quantum sensing and quantum computing?
