- One of the major factor driving the quantum sensors market is the increasing government investment in quantum research to gain economic and military advantage. For instance, in September 2018, the United States published its National Strategic Overview for Quantum Information Science, which defined quantum sensing as ‘leveraging quantum mechanics to enhance the fundamental accuracy of measurements and enabling new regimes or modalities for sensors and measurement.
New York, Dec. 02, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Quantum Sensors Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p05993763/?utm_source=GNW
’ Such new capabilities would afford clear military advantages and would have a positive influence on the market globally.
- One of the typical applications of quantum sensors includes Photosynthetic Photon Flux (PPF) measurement over plant canopies in outdoor environments or greenhouses and growth chambers. Light is an essential element of photosynthesis, and it impacts numerous factors, including plant form and structure, and reproduction. Therefore, the PAR meter is a quantum sensor is widely used for measuring active photosynthetic radiation and thus driving the market.
- For instance, in November 2018, Aranet launched its PAR Sensor with Apogee quantum meter. These sensors provide photosynthetically active radiation (PAR) from all light sources which are necessary to grow plants and thus, have ample scope in the horticulture.
- However, lack of awareness, coupled with the high cost of research and development, is restraining the market growth during the forecast period.
Key Market Trends
Increasing Research Activities is Expected to Drive the Market
- Increasing research and developmental activities related to quantum technology is expected to have ample opportunities in a different field such as military, construction industry, etc. Features such as high credibility and accuracy are making this technology accessible across various sectors.
- Moving ahead, quantum technology is expected to have significant implications for multiple aspects of future military operations. And, China is focused to utilize this technology for its military applications and aimed to become a leader in quantum information science.
- For instance, in September 2016, Chinese scientists announced their creation of a single-photon quantum radar, which takes advantage of entanglement between photon pairs, those were capable of detecting targets up to 100 kilometers away with high accuracy. This test provides an initial overview of the scope of quantum technology in military applications which in return would drive the quantum sensor market.
- Another significant research which is progressing in this field is in the area of communications. For example, in June 2018, Cambridge University researchers used quantum states of photons to exchange secret keys to encrypted messages via a conventional optical fiber and quantum sensors plays a vital role during such communications. This technique is called Quantum Key Distribution (QKD), and it is believed to be an unhackable exchange of secret information.
- Moreover, Luxembourg-based SES also realized the potential of this technology and announced in June 2018 that they would be developing a commercial satellite-based on QKD service by 2020. Quantum sensing could be used in those technologies with direct space communication applications. The sensors are able to measure atomic-scale shifts in the frequency due to surrounding magnetic fields, which could contain information about the environment and thus helping in space communication.
- Therefore all the above research and development appeared to constitute a notable advance in the technology and hence, it is expected to have a tremendous opportunity during the forecast period.
Europe is Expected to Dominate the Market
- Europe is expected to dominate the market because Europe is one of those regions which started investing in the market early and have also made some strategic plans for the coming future.
- For instance, in 2015, the UK National Quantum Technologies Programme invested EURO 400 million to establish four research hubs for developing different quantum-based technologies such as Quantum Sensors and Metrology which is led by the University of Birmingham.
- Additionally, The UK National Quantum Technologies Programme is determined to bring novel types of quantum clocks and quantum gravity sensors to the market in the early 2020s.
- Moreover, Europe is the home for the companies who are the major players in this market and thus, most of the partnership and new product launch initially happen in the region.
- For instances, in July 2019, Teledyne e2v announced that the company’s own project Cold Atom Gravity Explorer (CAGE), would be funded by the UK Space Agency’s Centre for Earth Observation Instrumentation (CEOI). This project would aim to develop a mission for a quantum gravity sensor for Earth observation (EO) from space. Space gravity measurements are critical to many EO applications, including understanding climate change, detecting underground water resources and oil and gas prospecting.
- Additionally, Glasgow University researchers are working with Italian volcanologists to find the scope of the quantum sensor in the monitoring volcanoes. They are experimenting on Sicily’s Mount Etna ( one of the most active volcanoes) using gravimeters to get the warning of volcanic activity beforehand.
- Therefore, due to the above-mentioned reasons, Europe is expected to dominate the market during the forecast period.
The quantum sensors market is at its initial stage, and thus, the competition among the players are moderately low. This market offers enormous opportunity, and because of this, many players are entering the market. Product launch and partnership are the major strategies followed by the vendors to gain a competitive advantage. Few recent developments are:
- March 2019 - Researchers at the University of Waterloo’s Institute for Quantum Computing (IQC) have developed new quantum sensors that have advantageous applications in the monitoring of cancer treatments to remote sensing capabilities.
- November 2018 - The Gravity Pioneer project, has been awarded EURO 6 million in research funding from UK Research and Innovation. The Gravity Pioneer project led by environmental and engineering services company RSK and consist of 12 project partners from organizations currently engaged in quantum technologies in the UK such as Teledyne e2v, Fraunhofer UK, Altran, Geomatrix Earth Science, and Magnetic Shields, etc. The project aimed to build quantum cold-atom sensors that would detect and monitor objects beneath the ground, thereby reducing the need for investigative drilling or digging.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05993763/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001