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Optically Pumped Magnetometers Market by Product Type, by Application and Geographic: Analysis, Size, Growth, Trends, and Forecast, 2024-2028

  • Published: Oct 2024
  • Pages: 160
Home Upcoming Report Optically Pumped Magnetometers Market

Market Size

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Optically pumped magnetometers (OPMs) are advanced sensing devices capable of accurately measuring magnetic fields using optical pumping techniques. They offer advantages over traditional magnetometers in terms of sensitivity, precision, and scalability. OPMs are classified into vector magnetometers and scalar magnetometers, with vector magnetometers being particularly suited for applications requiring precise directional measurements. Increasing demand for high-precision magnetic field measurement solutions across various industries such as medical, defense, aerospace, and geophysics is driving demand for optically pumped magnetometers.

The market scope of OPMs extends across various economic, political, and social scenarios at the country level. Factors such as economic development, political stability, and social trends influence the adoption and commercial development of OPM technologies. Companies focus on product innovation, breadth, and depth of product offerings, scalability, and business strategies to gain a competitive edge. This market is segmented by product type (potassium and cesium), by application, and by region, including North America, Europe, APAC, South America, and the Middle East and Africa. This report also analyzes key competitors in the optically pumped magnetometers market, such as Cryogenic, Honeywell, and Scintrex.

Technavio’s in-depth industry report offers historical data as well as a comprehensive market forecast. It analyzes the current state of the optically pumped magnetometers market and provides detailed predictions on its performance over the coming years. It examines key factors such as market drivers, challenges, and key emerging trends, as well as the global competitive landscape. Also included is a breakdown of the types of products available on the market, along with their market shares and future prospects.

Market Report Highlights

Product Type
  • Potassium Magnetometers
  • Cesium Magnetometers
Application
  • Healthcare
  • Earthquake Research
  • Others
Regional Landscape
  • North America
  • Europe
  • APAC
  • South America
  • Middle East and Africa
Key Companies Profiled
  • Cryogenic Ltd.
  • Gem Systems Inc.
  • Honeywell International Inc.
  • Scintrex
  • VectorNav Technologies

Market Report Insights

  • Precise evaluation of the market’s size, including historical data and a forecast of market performance from 2024 to 2028
  • Qualitative and quantitative analysis of the current market scenario and future prospects, allowing clients to make informed business decisions
  • In-depth analysis of the drivers and challenges that will impact the growth of the market between 2024 and 2028
  • Predictions about upcoming trends and changes in consumer behavior
  • A thorough industry analysis of the competitive landscape and detailed information on key companies in the market, including factors such as market positioning and product offerings
  • Region-by-region analysis of market growth and opportunities across North America, Europe, APAC, South America, and the Middle East and Africa

Market Segmentation

The optically pumped magnetometers market is segmented according to product type, application, and region. Technavio’s industry report provides actionable market insights on each segment, including market share and growth forecasts. There is growing demand for optically pumped magnetometers in space applications, as they can enable more precise and accurate instrument readings than conventional magnetometers, which can be influenced by radiation damage and temperature changes.

Product Type Segmentation

  • Potassium Magnetometers
  • Cesium Magnetometers

Application Segmentation

  • Healthcare
  • Earthquake Research
  • Others

Regional Analysis

Different parts of the world will have different demands, supply chain logistics, legal nuances, and other factors to take into consideration when entering a new market. Technavio’s optically pumped magnetometers market research helps facilitate strategic business decisions by providing a historical and focused look at regional markets, including market trends, drivers, and challenges as well as predictions for regional market sizes and growth.

Geographical Segmentation:

  • North America
    • Segmentation by product
    • Segmentation by application
  • Europe
    • Segmentation by product
    • Segmentation by application
  • APAC
    • Segmentation by product
    • Segmentation by application
  • South America
    • Segmentation by product
    • Segmentation by application
  • The Middle East and Africa
    • Segmentation by product
    • Segmentation by application

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Competitive Landscape

This report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies in order to help clients improve their market positions. It also provides a detailed analysis of the upcoming optically pumped magnetometers market trends and challenges and how they will influence market growth, designed to help companies create effective strategies to make the most of the global market.

Companies leading the global optically pumped magnetometers market include:

  • Cryogenic Ltd.
  • Gem Systems Inc.
  • Honeywell International Inc.
  • Scintrex
  • VectorNav Technologies

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Market Dynamics

In order to make informed business decisions and strategies, it’s important to be informed of the many factors impacting the market. What is driving growth in the market and how does that influence new product releases? What challenges are increasing risk for a specific course of action or in a specific market? What will the key trends be over the next several years and what is the best way to take advantage of them? The answers to these questions help companies to evaluate business approaches and develop growth strategies.

OPMs find applications in a wide range of fields, including space exploration, oil and gas exploration, mineral exploration, healthcare monitoring, security, defense applications, and forensic analysis. They are also integrated into wearable devices, smartphones, IoT sensors, satellites, and consumer electronics for navigation, augmented reality (AR), virtual reality (VR), gaming, and compass applications.

OPMs come in various form factors, including single-axis, 3-axis, and 3D configurations, and can be stationary or portable/mobile. They utilize advanced technologies such as MEMS, magneto-resistive, fluxgate/coil, and magneto-inductive to achieve high accuracy and operational efficiency.

The aerospace industry relies on OPMs for aircraft navigation, geophysical surveys, monitoring solar activity, and studying the Earth's magnetic field. Despite their high costs, OPMs are indispensable tools in research, defense, and industrial applications, driving advancements in quality control, automation, and advanced manufacturing processes.

FAQ

What are the key applications of Optically Pumped Magnetometers?

OPMs are used in a wide range of applications including geophysical surveys (mapping magnetic anomalies), medical diagnostics (magnetoencephalography for brain imaging), navigation systems (aircraft and submarines), and scientific research (studying magnetic properties of materials).

What are the challenges facing the Optically Pumped Magnetometers market?

Challenges include cost of manufacturing and maintenance, complexity in calibrating for precise measurements, susceptibility to environmental factors (temperature changes, electromagnetic interference), and competition from alternative magnetic sensor technologies.

How is the Optically Pumped Magnetometers market expected to grow?

The market is expected to grow due to increasing demand for precise magnetic field measurement solutions across various sectors, advancements in sensor technology improving sensitivity and reliability, and expanding applications in healthcare and defense industries.

Table of Contents

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2023
  • 3.4 Market outlook: Forecast for 2023-2028
    • Exhibit 14: Chart on North America - Market size and forecast 2023-2028 ($ billion)
    • Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
    • Exhibit 16: Chart on North America: Year-over-year growth 2023-2028 (%)
    • Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)

4 Historic Market Size

  • 4.1 Dietary supplements market in North America 2018 - 2022
    • Exhibit 18: Historic Market Size – Data Table on dietary supplements market in north America 2018 - 2022 ($ billion)
  • 4.2 Distribution Channel Segment Analysis 2018 - 2022
    • Exhibit 19: Historic Market Size – Distribution Channel Segment 2018 - 2022 ($ billion)
  • 4.3 Product Segment Analysis 2018 - 2022
    • Exhibit 20: Historic Market Size – Product Segment 2018 - 2022 ($ billion)
  • 4.4 Geography Segment Analysis 2018 - 2022
    • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

  • 5.1 Five forces summary
    • Exhibit 22: Five forces analysis - Comparison between 2023 and 2028
  • 5.2 Bargaining power of buyers
    • Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
  • 5.3 Bargaining power of suppliers
    • Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
  • 5.4 Threat of new entrants
    • Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028
  • 5.5 Threat of substitutes
    • Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028
  • 5.6 Threat of rivalry
    • Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028
  • 5.7 Market condition
    • Exhibit 28: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Distribution Channel

  • 6.1 Market segments
    • Exhibit 29: Chart on Distribution Channel - Market share 2023-2028 (%)
    • Exhibit 30: Data Table on Distribution Channel - Market share 2023-2028 (%)
  • 6.2 Comparison by Distribution Channel
    • Exhibit 31: Chart on Comparison by Distribution Channel
    • Exhibit 32: Data Table on Comparison by Distribution Channel
  • 6.3 Offline - Market size and forecast 2023-2028
    • Exhibit 33: Chart on Offline - Market size and forecast 2023-2028 ($ billion)
    • Exhibit 34: Data Table on Offline - Market size and forecast 2023-2028 ($ billion)
    • Exhibit 35: Chart on Offline - Year-over-year growth 2023-2028 (%)
    • Exhibit 36: Data Table on Offline - Year-over-year growth 2023-2028 (%)
  • 6.4 Online - Market size and forecast 2023-2028
    • Exhibit 37: Chart on Online - Market size and forecast 2023-2028 ($ billion)
    • Exhibit 38: Data Table on Online - Market size and forecast 2023-2028 ($ billion)
    • Exhibit 39: Chart on Online - Year-over-year growth 2023-2028 (%)
    • Exhibit 40: Data Table on Online - Year-over-year growth 2023-2028 (%)
  • 6.5 Market opportunity by Distribution Channel
    • Exhibit 41: Market opportunity by Distribution Channel ($ billion)
    • Exhibit 42: Data Table on Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Product

  • 7.1 Market segments
    • Exhibit 43: Chart on Product - Market share 2023-2028 (%)
    • Exhibit 44: Data Table on Product - Market share 2023-2028 (%)
  • 7.2 Comparison by Product
    • Exhibit 45: Chart on Comparison by Product
    • Exhibit 46: Data Table on Comparison by Product
  • 7.7 Others - Market size and forecast 2023-2028
    • Exhibit 63: Chart on Others - Market size and forecast 2023-2028 ($ billion)
    • Exhibit 64: Data Table on Others - Market size and forecast 2023-2028 ($ billion)
    • Exhibit 65: Chart on Others - Year-over-year growth 2023-2028 (%)
    • Exhibit 66: Data Table on Others - Year-over-year growth 2023-2028 (%)
  • 7.8 Market opportunity by Product
    • Exhibit 67: Market opportunity by Product ($ billion)
    • Exhibit 68: Data Table on Market opportunity by Product ($ billion)

8 Customer Landscape

  • 8.1 Customer landscape overview
    • Exhibit 69: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

  • 9.1 Geographic segmentation
    • Exhibit 70: Chart on Market share by geography - 2023-2028 (%)
    • Exhibit 71: Data Table on Market share by geography - 2023-2028 (%)
  • 9.2 Geographic comparison
    • Exhibit 72: Chart on Geographic comparison
    • Exhibit 73: Data Table on Geographic comparison
  • 9.6 Market opportunity by geography
    • Exhibit 74: Market opportunity by geography ($ billion)
    • Exhibit 75: Data Table on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers
  • 10.2 Market challenges
  • 10.3 Impact of drivers and challenges
    • Exhibit 76: Impact of drivers and challenges in 2023 and 2028
  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview
  • 11.2 Vendor landscape
    • Exhibit 77: Overview on Criticality of inputs and Factors of differentiation
  • 11.3 Landscape disruption
    • Exhibit 78: Overview on factors of disruption
  • 11.4 Industry risks
    • Exhibit 79: Impact of key risks on business

12 Vendor Analysis

  • 12.1 Vendors covered
    • Exhibit 80: Vendors covered
  • 12.2 Market positioning of vendors
    • Exhibit 81: Matrix on vendor position and classification
  • 13 Appendix
  • 13.1 Scope of the report
  • 13.2 Inclusions and exclusions checklist
    • Exhibit 82: Inclusions checklist
    • Exhibit 83: Exclusions checklist
  • 13.3 Currency conversion rates for US$
    • Exhibit 84: Currency conversion rates for US$
  • 13.4 Research methodology
    • Exhibit 85: Research methodology
    • Exhibit 86: Validation techniques employed for market sizing
    • Exhibit 87: Information sources
  • 13.5 List of abbreviations
    • Exhibit 88: List of abbreviations