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
