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Global SQUID Sensor Market: Introduction

A SQUID (Superconducting Quantum Interference Device) is an identical sensitive magnetometer used for measurement of extremely subtle magnetic fields, on the basis of superconducting loops consisting of Josephson junctions. Sensors in SQUIDs are highly sensitive, which makes them useful for measuring weak bio-magnetic fields. Players operating in the global SQUID sensor market are installing these sensors in both types of SQUIDs i.e. direct current (DC) and radio frequency (RF) operated devices. RF SQUIDs are less sensitive than DC SQUIDs. DC SQUID sensors have high frequency response ranging from DC to a few GHz. RF SQUID sensors can work with only one Josephson junction, which makes the manufacture of end-products less expensive.

Key Drivers and Restraints of Global SQUID Sensor Market

  • SQUID sensors are employed in a wide range of applications such as transportation; consumer electronics; banking, financial services, and insurance (BFSI); and healthcare. This is boosting the global SQUID sensor market.
  • High sensitivity of SQUID sensors led by their superconductivity is a key driver of the global SQUID sensor market. This factor is expected to fuel the global SQUID sensor market during the forecast period.
  • For a long time, superconducting quantum interference device (SQUID) magnetometers are being used for bio-magnetic studies. Increasing research on these magnetometers consisting of SQUID sensors is another major factor driving the global market for SQUID sensors.
  • Superconductive devices function only at low temperatures. Low temperatures are usually maintained with the help of liquid helium. Storage and use of liquid helium requires special, thermally isolated Dewars (named after James Dewar). This factor is projected to hamper the global SQUID sensor market during the forecast period.

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Low-temperature SQUID Segment to Witness Attractive Opportunities

  • Exploring new mines requires new technologies and tools. Transient electromagnetics (TEM) is widely used in mineral exploration, but the conventional sensors (especially, induction coils) cannot fulfill requirements such as deep targets, very conductive targets, and targets under conductive overburden. These are more easily (or sometimes only) detected by using SQUIDs.
  • Several devices for magnetic field sensing are available in the market, but they are highly sensitive even under low temperatures. Since SQUID sensors can be operated at a low temperature, low-temperature SQUID is expected to be the most rapidly expanding segment in the near future.

Asia Pacific to Hold a Major Share of Global SQUID Sensor Market

  • Asia Pacific is a leading manufacturer of SQUID sensors, followed by North America and Europe. China and India are key markets in the region. In terms of demand, the two countries account for more than 50% share of the market in the region.
  • Increase in the demand for SQUID sensors in automotive & transportation and healthcare industries in Asia Pacific can be attributed to continued urbanization and rising purchasing power of consumers in the region
  • SQUID-based magnetometers can be used for effective healthcare monitoring in cardiac applications such as diagnostic systems for non-invasive measurement of heart functions. The expanding healthcare sector in Japan requiring high-quality monitoring systems is estimated to drive the market in the country during the forecast period.
  • The military & defense sector in countries such as China and India is adopting sophisticated machines for performing submarine activities. Submarine detection systems need SQUID sensors for anticipation of magnetic fields, if any, being generated from other watercraft. The new, advanced submarines being manufactured would require more number of SQUID sensors for betterment of detection systems.

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Key Players Operating in Global Market

The global SQUID sensor market is highly consolidated, with the top manufacturers accounting for approximately 25%–30% of the market share. A few of the key players operating in the global SQUID sensor market are:

  • Asahi Kasei Microdevices
  • Honeywell
  • Allegro Microsystems
  • TDK Corporation
  • AMS
  • Infineon Technologies
  • TE Connectivity
  • Melexix
  • NXP Semiconductors
  • Kohshin Electric

Global SQUID Sensor Market: Research Scope

Global SQUID Sensor Market, by Type

  • Low-temperature SQUID
  • High-temperature SQUID

Global SQUID Sensor Market, by Application

  • Transportation
  • Consumer Electronics
  • Banking, Financial Services, and Insurance (BFSI)
  • Healthcare
  • Others

Global SQUID Sensor Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • South America
    • Brazil
    • Mexico
    • Rest of South America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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