Asia Pacific Quantum Sensors Market Size, Share & Trends Analysis Report By Product (Atomic Clocks, Magnetic Sensors, PAR Quantum Sensors), By Application (Military & Defence, Automotive) and By Country(China, Korea, Japan, India, Australia, Taiwan, South East Asia, Rest of Asia-Pacific) Forecasts, 2022-2030

Market Overview

Quantum sensors are mostly used in the automotive, aerospace, healthcare, military, and defence sectors. Quantum sensors are used in a variety of military and defence applications, ranging from delivering exceedingly accurate positioning data to detecting submarines in the ocean. Due to their capacity to provide incredibly exact dimensions, quantum sensors are becoming increasingly important in the automotive industry. They are primarily used in automobiles for navigation. These new quantum sensing technologies will speed up the development of quantum sensors including atomic clocks, sensitive quantum gravito meters, and low-noise quantum interference microscopy. The growing government funding in quantum research to obtain an economic and military advantage is one of the primary drivers of the quantum sensors industry. Various industry segments working in end-user verticals around the world are attempting to integrate NV-based ensemble quantum sensors into commercial chip packages, which is a critical step toward quantum sensing technology being available in a wide range of sensor devices. However, difficulties such as a lack of awareness, high installation and maintenance costs, and high R&D costs will limit the market's growth throughout the projection period.

The Asia Pacific Quantum Sensors Market size is expected to reach a valuation of USD 324.14 million by 2030, growing at a CAGR of 9.20% during the forecast period (2022–2030). Asian Pacific is growing at the fastest rate with the maximum CAGR across the globe. As both India and China have one of the world's most powerful armies, Asia is one of the fastest-growing areas, with rapidly developing economies like India and China.

Market Dynamics

Key market drivers

• Accurate Sensing & Measurement and better performance than traditional sensors: Quantum sensors can replace conventional sensors in a variety of applications, such as monitoring and locating gas, oil, and mineral resources, as well as detecting even the tiniest environmental, seismic, surveying construction sites, or meteorological changes. In the transportation industry, these sensors are also employed to drastically improve precise positioning and navigation systems. For example, Airbus, a worldwide aerospace firm, is utilising quantum sensors to improve its navigation systems by measuring acceleration, rotation rates, frequency, electric and magnetic fields, and temperature. These factors collectively should drive the quantum sensors market towards growth in the Asian Pacific Region.

• Increasing Investments in Quantum Technology should work as a Catalyst: In Asia Pacific various industry participants are increasing their investments in quantum sensing technologies and artificial intelligence. The market is expected to increase at a steady rate due to increasing research and development activities in the realm of quantum sensor goods such as atomic clocks, rotation sensors, and image sensors. As research and development efforts continue to grow, it will open up several chances in industries such as construction, defence, and military. Quantum sensing technology is becoming more accessible across industries due to features such as high accuracy and credibility. In addition, there are a number of lower-risk quantum technology investments than quantum computers. As a result, increased interest in research communities will aid in the Asian market growth of quantum sensor demand in the next years.

Key market restraints

• High Implementation Costs: While quantum sensors' growing popularity is increasing their application in a range of industries, the high deployment costs may hinder the market's growth throughout the forecast period. End-user companies will have to invest a significant amount of money upfront to integrate such sensors, as well as self-sufficient riding or autonomous driving, advanced imaging technologies for short and long routes, clinical progress, and the ability to map the underground in depth. Due to inappropriate setup, design, and manufacture, the high costs of putting these structures in place can be a major limitation on the Asian Pacific market's growth.

Key market opportunities

• Expansion of Oil and Gas Industry in the region: Asia is the world's largest and fastest-growing consumer of both energy and oil and gas products. Over the previous four decades, the Asia Pacific area has seen a significant increase in natural gas and, in particular, oil, as a percentage of the overall energy supply. China is the fifth-largest oil-producing country on the planet. With growing growth and industrialization, the use of fossil fuels to meet energy requirements has increased, and it is projected that this trend would continue during the forecast period, providing lucrative prospects for the region's key players.

Regional Analysis

By 2030, the Asia Pacific Quantum Sensors Market is estimated to be worth USD 324.14 million, increasing at a CAGR of 9.20% over the forecast period (2022–2030). Asia Pacific is rising at the quickest rate in the world, with the highest CAGR. Asia is one of the fastest-growing regions, with quickly emerging economies such as India and China having one of the world's most formidable armies.

In Japan, the use of these sensors has risen dramatically. Parallel to this, the quest for quicker and more energy-efficient electronic devices has sparked interest in quantum devices based on the quantum spin state in diamonds, which can outperform traditional electronics. According to the Japan Advanced Institute of Science and Technology, Japanese researchers have successfully investigated thermal-magnetic flux using a diamond-based quantum sensor, paving the path for heat-controlled quantum electronics.

In India, the quantum sensors market is expected to rise at a rapid rate. India is expected to have a 41.7% market share in South Asia and the Pacific by 2031. India, with its rapidly developing economy, is considered to be a promising market for quantum sensor manufacturers. Furthermore, governments are heavily spending in quantum sensing platform research and development, which is expected to boost market expansion in the region.

China is well on its way to becoming a "world-class" military power by mid-century, thanks to huge breakthroughs in missile technology, naval forces, and intelligence. China has now equalled or surpassed the United States and Russia in some areas. As a result of China's rising military and defence capabilities, there will be a surge in demand for quantum sensors in the coming future.

Segmental Analysis

The Asia Pacific quantum sensors market by-product division includes atomic clocks, magnetic sensors, and PAR quantum sensors. Magnetic sensors now dominate the market in the region, with a significant growth rate. The bulk of magnetic sensors are utilised in military and security applications such as detecting, discriminating, and identifying ferromagnetic substances, navigation, position tracking, and antitheft systems.

As a result of a rising trend in quantum sensor commercialization for military and defence applications, as well as increased government funding in many developing countries throughout the world, quantum sensors and related technology are in higher demand. Because the magnetic field is invisible and penetrates most objects, magnetic sensors are required in many security applications.

New sensor types such as AMR (Anisotropic Magneto Resistors), GMR (massive Magneto-Resistance), SDT (Spin-dependent Tunnelling), and GSR (Geometric Spin-dependent Tunnelling) are supplementing traditional magnetic sensors such as fluxgates, induction coils, and resonance magnetometers (big Magneto-Impedance). The second most prevalent segmentation by-product is atomic clocks, which have a considerable market share. Because of the reliance on sensors for technological know-how assessments and spacecraft operation, atomic clocks are widely utilised in space exploration and associated research.

Quantum sensors are projected to deliver innovative and significantly improved capabilities; hence quantum phenomena are being exploited more and more as sensing precisions improve. NASA's Deep Space Atomic Clock, for example, was launched in 2019 and is a vital step toward allowing spacecraft to navigate safely in deep space without relying on a time-consuming method of receiving instructions from Earth. In order to gain destiny navigation and communication technologies, the Deep Space Atomic Clock will enable a move to a greener, more flexible, and scalable clock system.

PAR quantum sensors are the third product category. The capacity of quantum (PAR) sensors to detect the quantity of photo-synthetically active radiation (PAR) utilised by agricultural specialists is well-known. The size of photosynthetic photon flux (PPF) over plant canopies in outdoor situations, greenhouses, and growth chambers is one of the classic quantum sensor packages.

Plant shape and structure, as well as reproduction, are influenced by light, which is a crucial component of photosynthesis. Plant and agricultural research, as well as detecting energetic photosynthetic radiation for agriculture and industrial horticulture, are all witnessing increased demand in the market.

Quantum sensors are employed in the military and defence, as well as the automobile industry, and the market is classified by application. The military and defence industries are now the most popular quantum sensor programmes, thanks to a high rate of investment in quantum technology research by commercial and government naval and defence firms. Quantum technology has piqued the interest of governments in a number of wealthy countries in recent years, resulting in a boom in quantum sensor commercialisation, mostly for military and security applications.

The army and defence firms are increasing their investments in digital conflict (EW) technology, which is propelling the market forward. Many advanced army companies produced quantum technologies in the previous decade, which were utilised to improve communications, precision navigation, and precision timing, among other things. The automotive industry is the second-largest segment of the quantum sensors market.

Impact of covid-19

The automotive industry is critical to the economy's growth. However, during the second and third quarters of 2020, the COVID-19 outbreak impacted the whole automotive supply chain, affecting new car sales in FY 2020.

South America is most affected by COVID-19, with Brazil leading the way, followed by Ecuador, Chile, Peru, and Argentina. South America's government (SAM) has taken a number of steps to protect its citizens and stem the spread of COVID-19. South America is expected to have fewer export revenues as commodity prices fall and export volumes fall, particularly to China, Europe, and the United States, which are all significant trading partners. The manufacturing industry, especially automotive manufacturing, has been damaged by containment measures in various South American countries. Due to the pandemic, major automotive manufacturers have also temporarily halted manufacturing in the region as a cost-cutting move. Furthermore, the automobile disc brake industry has been significantly affected in 2020 due to a lack of raw materials and supply chain disruption.

The Automotive Brake System control module of a vehicle is meant to alert the driver with a warning light if the system fails. The module itself is rarely defective; instead, the sensors or the wiring to the sensors are frequently defective. The most typical cause of dysfunction is when the Automotive Brake System is contaminated with particles or metal shavings. There is no signal continuity when sensor wiring is destroyed. Brake fluid becomes contaminated in corrosive situations, and the hydraulic unit fails to function.

Recent Developments

• In 2021, Q-Ctrl, an Australian business, is working on a quantum sensor that will be sent to Earth orbit, the moon, and eventually Mars. The company is collaborating with Fleet Space Technologies, an Australian nanosatellite start-up, to create quantum sensors for use on the nanosatellites. Quantum sensors for detecting liquid water and mineral deposits, as well as quantum-enhanced precision navigation and timing systems, are also being developed by the company.