Why SQUID Sensors Are Gaining Popularity in 2024

The global SQUID (Superconducting Quantum Interference Device) sensors market is expected to grow steadily over the next decade, driven by increasing demand for highly sensitive magnetic field detection across various industries. In 2023, the market was valued at US$ 155.45 million and is projected to advance at a compound annual growth rate (CAGR) of 4.37% from 2024 to 2034. SQUID sensors are widely used in fields such as medical diagnostics, particularly in magnetoencephalography (MEG) and magnetic resonance imaging (MRI), as well as in non-destructive testing, mineral exploration, and scientific research. Their unmatched sensitivity to minute magnetic fields makes them indispensable in applications where precision is crucial.

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By the end of 2034, the global SQUID sensors market is expected to reach US$ 247.21 million. The healthcare sector remains a significant driver of market growth due to the rising adoption of SQUID sensors in advanced diagnostic tools. Additionally, their use in the defense sector for detecting submarines and underground structures is gaining traction. As industries increasingly turn to cutting-edge technologies for improved accuracy and efficiency, SQUID sensors are poised to become more integral in sectors such as aerospace, defense, and energy. Continued research and innovation are expected to open new opportunities for SQUID technology, enhancing its commercial applications.

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