Uncovering the smallest components of the universe and solving the most complex computational problems is possible as a result of evolving quantum technologies. IDTechEx's portfolio of Quantum Technologies Research Reports provides the latest market research into the technologies behind increased sensing sensitivities, the rise of quantum computing, and more.
The quantum sensing market and its applications
Quantum sensors are far more sensitive than regular sensors, making them able to measure phenomena on a scale that has never before been possible. Their ability to enable new applications now and in the future make them an exciting technology that could bring great possibilities to many major sectors.
Much of the low-volume, high-value sales for quantum sensors have been driven by the defense sector in line with the need for secure and precise navigation, while IDTechEx reports that national aerospace agencies and private aerospace companies are responsible for a significant amount of funding and investment within the market. In healthcare, quantum sensors could potentially complement traditional scans like MRIs, providing unmatched sensitivity for cardiological and neurological screening. This technology innovation may prove to be of particular importance as the population is aging, while the portability of this quantum sensing technology may make it more easily accessed. Most types of quantum sensors will remain limited to the wider population, as their cost and limited availability make them inaccessible in the medium-term at least. However, IDTechEx identifies autonomous vehicles and consumer electronics as potentially being breakthrough applications for quantum sensing to reach the wider market in the future.
Atomic clocks, magnetic field sensors, and single photon detectors are highlighted in IDTechEx's report, "Quantum Sensors Market 2026-2046: Technology, Trends, Players, Forecasts", as being the quantum sensing technology types to note of the 2020s, while gyroscopes, gravimeters, and RF sensors are expected in the 2030s, and quantum imaging and accelerometers in the 2040s. Biomagnetic imaging, underground mapping, quantum computing, and telecoms are some of the other main applications emerging over the next two decades, with the quantum sensor market forecast expected to hit US$1.9 billion by 2046, growing at a compound annual growth rate of 9%.
Quick quantum computing
Quantum computing applications are also likely to see in-house, scalable quantum sensing solutions, to increase qubit numbers. The higher the physical qubit number, the more that can be combined to produce perfect logical qubits, which are an extremely valuable factor in determining the success and accuracy of a quantum computer, and the amount of data that can be processed.
The development of quantum computers is necessary for solving optimization and simulation problems that classical computers would take unimaginable lengths of time to complete. Chemical, HPC, automotive, aerospace, and financial, are some of the largest industries listed in IDTechEx's report, "Quantum Computing Market 2026-2046: Technology, Trends, Players, Forecasts", that could benefit from the remarkable abilities of quantum computing. Quantum computers could not only tackle difficult to solve problems, but new ones too, potentially making them a great investment for the success of many industries and even enabling climate change solutions to potentially being found.
Molecular modelling, drug discovery, and peptide engineering, are some of the main chemical and pharmaceutical problems which quantum computers could tackle. Aerospace, physics simulations, aerodynamics, flight mechanics, and advanced materials discovery could also all benefit from their unmatched abilities, as quantum computers could revolutionize these sectors to enhance safety and overall success. With such high-value and prevalent applications requiring the assistance of quantum computing, its hardware market is expected to have a compound annual growth rate of 26.7% and reach over US$21 billion by 2046, highlighting the expectation for the market to take off over the next twenty years.
For more information on quantum technologies, including quantum materials and a wider overview of the market, visit IDTechEx's portfolio of Quantum Technologies Research Reports for the latest research-backed data, with analysis, benchmarking, and forecasts.
