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Global Quantum Sensors Market Size and Share Analysis 2023-2028
The Quantum Sensors Market is projected to reach USD 1,116.9 million by 2028, growing at a CAGR of 12.90% during the forecast period (2023-2028), with an estimated size of USD 608.9 million in 2023.
Quantum sensors leverage the properties of quantum mechanics, such as quantum interference, entanglement, and state squeezing, to achieve optimized precision and surpass the limits of traditional sensor technology. The field of quantum sensing focuses on developing quantum sources and measurements that outperform classical strategies in various technological applications. These sensors require minimal energy and matter to detect and measure minute changes in time, gravity, temperature, pressure, rotation, acceleration, frequency, and magnetic and electric fields.
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USD 1116.9 Mn incremental growth between 2022 and 2027
Product Type, Application, and Geography
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The primary industries where quantum sensors find applications include military and defense, automotive, space, and healthcare. In the military and defense sector, quantum sensors provide highly accurate positioning data and enable submarine detection in oceans worldwide. They have also become integral to the automotive industry, where their precise measurements are used for precision navigation.
One specific application of quantum sensors is the measurement of Photosynthetic Photon Flux (PPF) over plant canopies in outdoor environments, greenhouses, and growth chambers. Light plays a crucial role in photosynthesis, impacting plant form, structure, and reproduction. Quantum sensors, such as PAR meters, are widely used to measure active photosynthetic radiation, driving market growth.
Government investments in quantum research to gain economic and military advantages are another significant driver of the quantum sensors market. The United States, for instance, has defined quantum sensing as a means to enhance measurement accuracy and enable new sensor modalities using quantum mechanics. These capabilities offer clear military advantages and have a positive impact on the global market.
Various types of quantum sensors, including atomic clocks, magnetic sensors, PAR quantum sensors, and gravity sensors, are being widely used and experiencing significant commercial acceptance. However, the high deployment and maintenance costs may hinder market growth during the forecast period.
Advancements in quantum technology have led to the development of advanced devices with enhanced functionality. These sensors have disruptive applications in healthcare diagnostics, environmental monitoring, food quality control, security and defense, industrial safety and quality control, and potentially transportation.
For example, quantum plasmonic sensors show promise in chemical detection, blood protein analysis, and atmospheric sensing due to their low noise levels. Quantum sensors utilizing nitrogen-vacancy (NV) diamonds have the potential to detect COVID-19, although further adaptation and testing are required before they become available in the market in the coming years.
The market is segmented based on various factors, including product type, application, and geography.
Segmentation by Product Type
PAR Quantum Sensors
Other Product Types
Segmentation by Application
Military and Defense
Oil and Gas
Segmentation by Geography
Rest of the World
The magnetic sensors segment currently holds the largest share of the market at 46.3% in 2022. Valued at USD 252.5 million, it is projected to reach USD 548.9 million by 2028. Furthermore, magnetic sensors are expected to exhibit the highest compound annual growth rate (CAGR) of 14.1% from 2023 to 2028. These sensors are primarily used in security and military applications, such as detecting, discriminating, and localizing ferromagnetic and conducting objects, as well as navigation, position tracking, and anti-theft systems. The increasing commercialization of quantum sensors for military and defense purposes, coupled with government investments in developing countries, has led to a rising demand for quantum technologies and sensors. Quantum magnetic sensors utilize the quantum properties of atoms or atom-like systems to precisely detect and quantify magnetic fields. They operate based on the quantum mechanical principle of spin, which causes certain atoms to behave like small magnets capable of interacting with and responding to magnetic fields.
In terms of applications, the oil and gas segment holds the largest share of 37.0% in the market as of 2022. Valued at USD 201.6 million, it is expected to reach USD 402.9 million by 2028. The military and defense sector is significantly investing in quantum sensors due to their ability to provide accurate data for submarine detection worldwide. These sensors also enable the detection of underground structures or nuclear materials, thanks to their extreme sensitivity to environmental disturbances. Additionally, their sensitivity allows for the detection of electromagnetic emissions, enhancing electronic warfare capabilities and potentially aiding in locating concealed adversary forces. Quantum sensors also offer alternative positioning, navigation, and timing options, enabling militaries to operate at full performance in GPS-degraded or GPS-denied environments.
However, the healthcare segment is projected to witness the highest CAGR of 14.5% from 2023 to 2028. Quantum sensors offer exceptional spatial resolution and sensitivity, making them highly attractive for biomedical applications. Optically pumped magnetometers, in particular, provide new functionalities in clinical magnetoencephalography, allowing subjects to perform tasks and move while their brain activity is recorded.
The military and defense sector is making significant investments in quantum sensors for various applications. Quantum cryptography and lithography are among the areas receiving substantial funding, while advancements in laser, photonics, and optical technologies are expanding the market’s scope. The increasing adoption of unmanned aerial vehicles (UAVs) and robotic technologies in the defense industry presents significant deployment opportunities for quantum sensors. According to the International Federation of Robotics, worldwide spending on military robotics is expected to exceed USD 16.5 billion by 2025. With the growing defense expenditure, wireless sensors have emerged as a technology area with numerous applications in the defense industry. The rising demand for quantum sensors in unmanned systems is expected to drive market growth, supported by military modernization programs implemented by various countries.
In terms of geography, the Asia-Pacific region holds the largest market share of 37.4% in 2022. Valued at USD 204.0 million, it is projected to reach USD 438.2 million by 2028. Additionally, the region exhibits the highest CAGR of 13.8% during the forecast period. China, in particular, is investing in quantum sensors and conducting research to develop new quantum sensing devices applicable in various fields. Quantum technology is expected to have significant implications for future military operations, and China aims to become a leader in quantum information science. For instance, Chinese scientists have successfully created a single-photon quantum radar utilizing entanglement between photon pairs, capable of accurately detecting targets up to 100 km away. This test demonstrates the potential of quantum technology in military applications, which may drive the quantum sensor market. Scientists across the region are making remarkable breakthroughs in atomic clocks, quantum sensors, quantum communication networks, and quantum computers through experimental and theoretical research. In November 2022, China launched its lab module called Mengtian as part of its ambitious space station project. Mengtian carries the world’s first space-based set of cold atomic clocks, including a rubidium clock, a hydrogen clock, and an optical clock.
India is also investing USD 1 billion in various programs over the next five years to advance its capabilities in quantum information and meteorology, quantum applications and materials, and quantum communications. The country plans to develop a quantum computer with around 50 qubits by 2026, joining other countries like Australia and Israel in driving broader adoption of this emerging technology. These investments and research activities in Asian countries are expected to drive the quantum sensor market throughout the forecast period.
The quantum sensors market is highly competitive, with notable players such as AOSense Inc., Apogee Instrument Inc., M Squared Laser Limited, Muquans SAS, and Robert Bosch GmbH. These companies are implementing various strategies, such as partnerships, mergers, investments, and acquisitions, to improve their product offerings and achieve a sustainable competitive advantage.
In December 2022, AOSense, a leading company in the quantum technology sector, successfully developed the first generation of quantum sensors for precision navigation in collaboration with NASA’s Goddard Space Flight Center. AOSense is also recognized as a prominent marketplace company in the field of quantum sensing and technology on the QED-C website.
In November 2022, M Squared, based in Glasgow, showcased a prototype of the first commercial neutral atom quantum computer in the United Kingdom. This achievement was highlighted at the National Quantum Technologies Showcase, an event that showcases advancements in technology resulting from the UK National Quantum Technologies Programme. This program is a collaboration worth USD1 billion between businesses, academia, and the government.
Key companies profiled in this report include AOSense Inc., Apogee Instrument Inc., M Squared Laser Limited, Muquans SAS, Robert Bosch GmbH, Skye Instruments Ltd, Campbell Scientific Ltd, LI-COR Inc.
Recent Industry Developments
In January 2023, the Government of Canada unveiled the National Quantum Strategy, a comprehensive initiative aimed at shaping the future of quantum technologies in the country and generating numerous job opportunities. With a committed investment of USD 360 million outlined in Budget 2021, this strategy aims to enhance Canada’s existing global leadership in quantum research and foster the growth of quantum technologies, companies, and talent within the nation.
Also in January 2023, Infleqtion, a prominent player in the global quantum ecosystem, announced a partnership focused on advancing quantum application testing. Leveraging Infleqtion’s compact quantum technology and World View’s patented stratospheric balloon systems, this collaboration aims to provide faster and more cost-effective quantum application testing. This innovative approach to stratospheric testing represents a significant development in the field, particularly for applications such as over-the-horizon communications, precision navigation and timing, and hyperspectral sensing. Infleqtion and World View will continue to work together to develop new solutions for potential customers in the defense, commercial, and public sectors.
Key Questions Answered
What is the projected size of the Quantum Sensors Market?
The Quantum Sensors Market is expected to reach USD 608.9 million in 2023 and is projected to grow at a CAGR of 12.90% to reach USD 1,116.9 million by 2028.
What is the current size of the Quantum Sensors Market?
As of 2023, the Quantum Sensors Market is expected to reach USD 608.90 million.
Who are the major players in the Quantum Sensors Market?
The major companies operating in the Quantum Sensors Market include AOSense Inc., Apogee Instrument Inc., M Squared Laser Limited, Muquans SAS, and Robert Bosch GmbH.
Which region is experiencing the fastest growth in the Quantum Sensors Market?
The Asia Pacific region is estimated to have the highest compound annual growth rate (CAGR) during the forecast period (2023-2028) in the Quantum Sensors Market.
Which region has the largest market share in the Quantum Sensors Market?
As of 2023, the Asia-Pacific region holds the largest market share in the Quantum Sensors Market.