IQT Research Report Pegs Revenues from Quantum Sensors at almost US $800 Million by 2028
According to a new report from IQT Research, worldwide revenues from sales on quantum sensors will near $800 million by 2028 and then go on to reach $1.3 billion by 2031. More details on the report, Quantum Sensors: Market Evolution 2022 to 2031 can be found at https://www.insidequantumtechnology.com/product/quantum-sensors-market-evolution-2022-to-2031/.
For a sample of this report, click on: Request Excerpt. Coverage of the report focuses on CSACs, quantum gravitometers, quantum magnetic sensors, quantum LiDAR and single-photon detectors.
About the report:
It has been three years since IQT Research published its landmark assessment of the of the quantum sensor sector; much has changed. Quantum sensors are rapidly commercializing. For example, quantum sensors will become day-to-day realities in areas as far appart as air traffic control and healthcare. Meanwhile, thousands of single-photon optical detectors will soon be used in optical quantum computers and in QKD. The new report discusses in depth how quantum sensors will be used in navigation/transportation, healthcare, financial services, telephone networks, smart grids, construction, mobility applications, oil & gas, defense, and R&D.
Our new report includes granular ten-year forecasts of quantum sensors broken out by types of sensors and end user segment. It also includes profiles of leading quantum sensor organizations including Bosch, ColdQuanta, Element6, Honeywell, M Squared Lasers, Muquans, NIST, QLM, QZabre and Single Quantum.
From the report:
- The market for quantum sensors is dominated by quantum magnetometers. The most promising technologies are nitrogen vacancy center sensors, based on diamond, optically pumped vapor cell magnetometers, and SQUIDs. There are already a few (smaller) companies that produce OPMs that are routinely used for mineral and energy prospecting and unexploded ordnance detection. The number of commercial applications for SQUIDs is still limited but in recent years there have been engineering improvements and innovations that have both improved performance and relaxed the cryogenic requirements for SQUID.
- Defense sector funding will be a powerful driver for quantum sensor development as the result of current global uncertainties. Almost all quantum sensor types can be repositioned as dual use system. However, there are a significant number that will primarily only be of value for military applications (e.g., quantum radar) or contingent on the military maturing the technology to a point where it becomes relevant to commercial applications. In 2021 the US Department of Defense’s (DoD) Defense Science Board (DSB) concluded quantum sensing is the most mature quantum technology and is “poised for use”.
- Quantum sensors will integrate into the Internet-of-Things (IoT). Distributed networks of entangled quantum sensors will occur in the future, but specific quantum IoT applications are closer at hand. For example, networks of quantum clocks to significantly improve the precision of a “world clock”. NIST has already established a quantum IoT study group to start considering specifications and standards.
About IQT Research:
IQT Research is a division of 3DR Holdings, and the first industry analyst firm dedicated to meeting the strategic information and analysis needs of the emerging quantum technology sector. In addition to publishing reports on critical business opportunities in the quantum technology sector, Inside Quantum Technology produces a daily news website on business-related happenings in the quantum technology field. https://www.insidequantumtechnology.com/.
3DR Holdings organizes the Inside Quantum Technology conferences. The next conference “Spring Inside Quantum Technology – San Diego” will be held May 10-12, 2022 and covers all aspects of quantum technology. It will be a hybrid event.
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