Home > Reports > LAMEA Quantum Sensors Outlook, Growth, Report to 2030

LAMEA Quantum Sensors Market

LAMEA Quantum Sensors Market Size is Expected to Reach USD 73.16 Million With a CAGR of 6.5% by 2030

Published On : 02 Nov, 2022
Updated On : 20 Nov, 2022
Table of Content Download Sample

Market Snapshot

Base Year:
2021
Study Period:
2020-2030
CAGR:
6.5 %

Quantum sensors are employed primarily in the automotive, aerospace, healthcare, military, and defence industries. Quantum sensors are employed in a wide range of military and defence applications, from providing extremely precise positioning data to detecting submarines in the ocean. Quantum sensors are becoming increasingly essential in the automotive industry due to their ability to deliver extremely precise dimensions. They are mostly used for navigation in automobiles. Quantum sensors such as atomic clocks, sensitive quantum gravitometers, and low-noise quantum interference microscopy will benefit from these new quantum sensing technologies. One of the key drivers of the quantum sensors business is the increased government financing for quantum research in order to gain an economic and military advantage. 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, obstacles such as a lack of awareness, high installation and maintenance expenses, and costly R&D costs will limit market expansion over the forecast period.

The LAMEA Quantum Sensors Market size is expected to reach a valuation of USD 73.16 million by 2030, growing at a CAGR of 6.50 % during the forecast period (2022–2030). Emerging quantum sensing techniques, such as precise atomic clocks, sensitive quantum gravitometers, and low-noise quantum interference microscopy, are expected to improve a number of sensing technologies in LAMEA.

Get more information on this report Download Sample Report

Market Dynamics

Market Driving Factors

  • Huge Oil and Gas Industry of Middle East: Saudi Arabia, the United Arab Emirates, and Iraq are among the world's greatest oil producers. Saudi Arabia is the world's largest oil producer, accounting for around 15% of total production. Iraq has boosted its output since the end of the Iraq War and is now the Middle East's second-largest producer. Kuwait is the ninth-largest oil producer in the world, producing between 2.5 million and 3 million barrels per day for more than a decade. As the region has the largest Petroleum industry in the world, it is expected that the quantum sensors market will grow in the region.
  • Autonomous Vehicle (Self-Driving Cars) Market Growth Concept: Autonomous vehicles can see around corners thanks to quantum sensing technology, and portable scanners can evaluate a person's brain activity. Technology that includes motion, such as imaging, rotation, acceleration, and gravity – as well as magnetic and electric fields – is allowing these things to become a reality. The technique could aid self-driving vehicles that can see around early-warning systems for earthquakes and volcanic activity, as well as underwater navigation systems. Quantum sensing technology will also make it possible to measure electric and magnetic fields, compare physical quantities to atomic properties, and improve sensitivity and precision. As a result, market expansion in the LAMEA region will be fuelled by the implementation of quantum sensing technology in autonomous vehicles.

Market Restraining Factors

  • High operational costs and Maintenance Complexions: When compared to typical sensors, Quantum Sensors' operational and maintenance costs are relatively high. For maintenance, the collection of dust and other soluble deposits on these sensors demands frequent cleaning, ideally with water and/or a mild detergent such as dishwashing soap and vinegar. This cleaning technique is required to ensure the correctness of the calibration. As the acrylic fabric used in some quantum sensors might craze when exposed to alcohol or natural solvents, regular protection is necessary to avoid unwanted cosine reaction consequences. Furthermore, the costs of maintaining these components are high, which could be a stumbling hurdle for LAMEA market expansion.

Key Market Opportunities

  • Non-Established Market: As compared to the Rest of the World, the quantum sensing market in LAMEA is not that established with a lack of awareness in many African countries and this creates a huge opportunity for the players to establish themselves in the region and gain competitive advantage easily and smoothly.

Segment Overview

Atomic clocks, magnetic sensors, and PAR quantum sensors are among the by-products of the LAMEA quantum sensors market. With a considerable growth rate, magnetic sensors presently dominate the market in the region. Magnetic sensors are mostly used in military and security applications such as detecting, classifying, and recognising ferromagnetic compounds, navigation, position monitoring, and antitheft systems.

Quantum sensors and related technology are in more demand as a result of a growing trend in quantum sensor commercialisation for military and defence applications, as well as increased government financing in many developing countries throughout the world. Magnetic sensors are essential in many security applications since the magnetic field is undetectable and penetrates most objects.

Traditional magnetic sensors such as fluxgates, induction coils, and resonance magnetometers are being supplemented by new sensor types such as AMR (Anisotropic Magneto Resistors), GMR (massive Magneto-Resistance), SDT (Spin-dependent Tunnelling), and GSR (Geometric Spin-dependent Tunnelling) (big Magneto-Impedance). Atomic clocks are the second most common segmentation by-product, with a significant market share. Atomic clocks are commonly used in space exploration and related research because of the dependency on sensors for technological know-how assessments and spacecraft functioning.

As sensing precisions grow, quantum sensors are expected to give new and greatly improved capabilities. As a result, quantum phenomena are being utilised more and more. For example, NASA's Deep Space Atomic Clock, which was launched in 2019, is an important step toward allowing spacecraft to navigate safely in deep space without relying on a time-consuming way of obtaining instructions from Earth. The Deep Space Atomic Clock will enable a transition to a greener, more flexible, and scalable clock system in order to obtain destiny navigation and communication capabilities.

The final product category is PAR quantum sensors. Quantum (PAR) sensors are well-known for their ability to measure the amount of photo-synthetically active radiation (PAR) used by agricultural professionals. One of the classic quantum sensor packages is the size of photosynthetic photon flux (PPF) over plant canopies in outdoor conditions, greenhouses, and growth chambers.

Light, which is an essential component of photosynthesis, has an impact on plant shape and structure, as well as reproduction. Plant and agricultural research, as well as detecting energetic photosynthetic radiation for agriculture and industrial horticulture, are all in high demand.

Quantum sensors are used in the military and defence, as well as the automobile industry, and the market is divided into categories based on their applications. Due to a high rate of investment in quantum technology research by commercial and government navy and defence enterprises, the military and defence industries are presently the most popular quantum sensor programmes. In recent years, quantum technology has aroused the interest of governments in a number of wealthy countries, resulting in a surge in quantum sensor commercialization, primarily for military and security purposes.

The army and defence companies are investing more in digital conflict (EW) technology, which is driving the market forward. In the previous decade, many advanced army businesses developed quantum technologies, which were used to improve communications, precise navigation, and precision timing, among other things. The automotive industry is the quantum sensor market's second-largest segment.

Regional Overview

LAMEA Quantum Sensors Market Countrywise Analysis

Regional Growth Insights Request Sample Pages

By 2030, the LAMEA Quantum Sensors Market is estimated to be worth USD 73.16 million, increasing at a CAGR of 6.50% over the forecast period (2022–2030). A number of sensing technologies in LAMEA are projected to benefit from emerging quantum sensing techniques such as precise atomic clocks, sensitive quantum gravitometers, and low-noise quantum interference microscopy.

The United Arab Emirates has effectively established itself as a global automobile centre. This may be seen in the phenomenal expansion of the automotive industry in recent years, despite the Covid-19 pandemic, which has wreaked havoc on the world economy in multiple ways. The emirate has become a major exporter and re-exporter of vehicles as a result of its ideal location, rising domestic demand for high-end cars, and a strong logistics sector, which is one of the reasons why the demand for quantum sensors has surged in the region.

Quantum sensing is presenting potentially transformative chances to use complicated quantum mechanical events in new ways to make ultrasensitive measurements of various parameters in Brazil, which is on the verge of change. At the same time, increased interest in quantum sensing has opened up possibilities for its use in improving energy production, distribution, and consumption systems. In Brazil, a lot of demand for quantum sensors come from the military and automotive sector as a reason for its outstanding performance.

As compared to the Rest of the World, the demand for quantum sensors is less in African region owing to lack of development in many countries and a lack of awareness among people but in South Africa, the demand and usage for these sensors are substantial. Quantum research has a lengthy history in South Africa, with an uptick in activity in the last decade. With this momentum, the South African Department of Science and Innovation formally launched the South African Quantum Technologies Initiative (SA QuTI) in March 2021, with the first seed grant released in September 2021.

Major Players

Some of the major players in the LAMEA Region (having significant market shares) are listed below:

  • Apogee Instrument Inc.
  • Apogee Instrument Inc.
  • Skye Instruments Ltd.
  • Bio spherical Instruments Inc

LAMEA Quantum Sensors Market Segmentation

By Product

  • Atomic Clocks
  • Magnetic Sensors
  • PAR Quantum Sensors

By Application

  • Military & Defence
  • Automotive

By Region

  • Brazil
  • Argentina
  • United Arab Emirates
  • Saudi Arabia
  • Qatar
  • South Africa
  • Nigeria
  • Kenya
  • Turkey
  • Rest of LAMEA
Price Starts From
$3250

Purchase Benefits

  • Eligible for a free updated report next year
  • Completely customizable scope
  • 30% discount on your next purchase
  • Dedicated account manager
  • Query resolution within 24 hours
  • Permission to print the report

As featured on :

Trusted by Fortune 500
Over 30000+ subscribers