Atomic Magnetometer Market size was valued at USD 700 million in 2024 and is projected to reach USD 4.55 billion in 2037, registering over 15.5% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of atomic magnetometer is evaluated at USD 808.5 million.
A key factor boosting atomic magnetometer market’s growth is its rising adoption of atomic magnetometers across diverse industries such as healthcare, defense, geophysics, etc. Atomic magnetometer devices are in demand owing to their precision in magnetic field detection. Furthermore, rapid advancements in quantum technology have bolstered the features of these devices assisting in the sector’s expansion. Additionally, the scope of applications of the devices has widened, with use cases in magnetic anomaly detection in geophysical surveys to advanced medical imaging techniques such as magnetoencephalography (MEG). The table below highlights ongoing major geophysical surveys and investments in such surveys, where atomic magnetometer devices are in demand.
Details on Geophysical Surveys
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Date of Announcement |
Details of the Survey |
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October 2024 |
USGS invested USD 4.8 million in the Bipartisan Infrastructure Law funding for five airborne electromagnetic surveys across the U.S. |
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October 2024 |
Westport announced the commencement of the next round of geophysical surveys to gather information about Cockburn Sound. |
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September 2024 |
TGS announced the successful completion of an ultra-high-resolution geophysical survey for community offshore wind in the New York Bight. |
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August 2024 |
Argentina Lithium & Energy Corporation announced the completion of its geophysical survey as a part of the Rincon West lithium project. A total of 15.04 line-miles of Transient Electromagnetic (TEM) sounding surveys were completed as per the announcement. |
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June 2024 |
Inflection Resources Ltd. launched a major geophysical survey in collaboration with Fleet Space Technologies. |
The advent of major geophysical surveys coupled with large-scale investments creates a burgeoning atomic magnetometer market to supply atomic magnetometer devices for real-time magnetic field sensing solutions. Additionally, the strategic integration of atomic magnetometers into critical applications such as national security and resource exploration underlines the potential for expansion of the atomic magnetometer market. With major and emerging economies across the world bolstering marine defense investments, manufacturers of atomic magnetometer devices are poised to leverage lucrative contracts to supply applications for submarine detection. For instance, in November 2024, the U.S. Department of Defense (DoD) launched the industry-Government Maritime (MARSEC) Consortium to bolster maritime security across Southeast Asia.
Growth Drivers
Recent Advancements in Atomic Magnetometers
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Date of Announcement |
Details |
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December 2023 |
Neuranics announced the launch of a magnetic sensor development kit that can record the heart’s magnetic activity and transfer it over bluetooth for 24/7 recording. |
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June 2023 |
SRI-led team demonstrated a magnetic sensor that can detect biomagnetic signals. The Atomic Magnetometer for Biological Imaging in Earth’s Native Terrain (AMBIIENT) analyzes signals that can diagnose some medical conditions. |
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July 2023 |
National Institute of Standards and Technology (NIST) announced patent- licensing opportunity for the Atomic Magnetometer and method of sensing of magnetic fields technology with potential applications in healthcare, navigation, defense, and medicine. |
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
15.5% |
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Base Year Market Size (2024) |
USD 700 million |
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Forecast Year Market Size (2037) |
USD 4.55 billion |
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Regional Scope |
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Technology (Optically Pumped Magnetometers, Overhauser Magnetometers, Spin-Exchange Relaxation Free)
By technology, the optically pumped magnetometers (OPM) segment is expected to capture around 42.4% atomic magnetometer market share by the end of 2037. The rising demand for high-precision magnetic measurements across multiple sectors is a major factor of the segment's growth. The heightened demand from various sectors expands the scope of application of OPMs, creating lucrative opportunities for the manufacturers. An example of a use case is from the healthcare sector where OPMs are in demand for measuring small magnetic fields generated by bodily movements, to aid in comprehensive diagnosing of neuromuscular diseases.
Furthermore, the growing investments to further research in brain imaging and communication reception are poised to assist the segment’s growth. For instance, in April 2022, researchers from the University of Colorado released a system consisting of OPM to sense a modulated magnetic field to sense a modulated magnetic field wherein the modulated magnetic field includes encoded information. Moreover, in May 2021, researchers at the Fralin Biomedical Research Institute at VTC received a USD 2.4 million grant from the National Institute of Biomedical Imaging and Bioengineering, to measure the brain’s magnetic signals and expand the application of OPM devices as wearable, lightweight headsets to measure the brain’s activity. The research bodes well for the commercial application of OPMs ensuring consistent market expansion of the segment.
Application (Geophysical Exploration, Navigation and Guidance, Medical & Healthcare, Military & Defense, Scientific Research & Instrumentation)
By application, the geophysical exploration segment of the atomic magnetometer market is forecasted to expand its revenue share during the stipulated timeline of the sector’s analysis. Atomic magnetometer devices have been positioned as vital tools to detect and map subsurface magnetic anomalies in geophysical exploration. The high sensitivity allows the detection of minute variations in the earth’s magnetic field, providing detailed insights into subsurface formations. Two recent announcements in the field of geophysical exploration highlights the heightened demand for atomic magnetometer devices.
For instance, in April 2024, the Cultural Resource Analysts Inc., announced the acquisition of a push cart with five magnetometer sensors from SENSYS which will be equipped with a RTK DGPS, to allow geo referenced measurements of the survey area. Furthermore, in July 2024, Myriad Uranium Corporation announced the initiation of a geophysical survey at the copper mountain uranium project in the U.S, which is expected to create a sustained demand for atomic magnetometer devices.
Our in-depth analysis of the global market includes the following segments:
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Technology |
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Application |
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Form Factor |
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Sensitivity |
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Output |
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North America Market Forecast
North America in atomic magnetometer market is anticipated to hold more than 36.5% revenue share by 2037. The market’s dominance is attributed to the rising demand for atomic magnetometer devices in geophysical exploration, medical imaging, and defense initiatives within the region. The U.S. accounts for a major share in North America followed by Canada. A key facet of the North America atomic magnetometer market is the growing advent of lucrative contracts to develop magnetometers catering to various use cases.
For instance, in December 2024, NASA and the National Oceanic and Atmospheric Administration (NOAA) awarded a contract worth USD 26 million to the Southwest Research Institute to develop magnetometers for NOAA’s Space Weather Next (SW Next) program for two missions set to be launched in 2029 and 2032 respectively. Such contracts within North America bode well for the atomic magnetometer market’s expansion during the forecast period.
The U.S. market is positioned to exhibit robust growth during the forecast period and hold a major share in North America. The substantial investments in research and development is a major factor in the growth of the domestic market. The U.S. is at the forefront of defense investments, creating a favorable atomic magnetometer market for the adoption of atomic magnetometers and for manufacturers to leverage lucrative defense contracts. For instance, in December 2024, SBQuantum announced the pioneering of quantum magnetometry for defense, aerospace, and minerals exploration with recent developments including major contracts with space agencies in the U.S. and collaboration with Silicon Microgravity for minerals exploration.
Additionally, the advancements in satellite-based magnetometers to monitor magnetic storms bolsters the sector’s growth by expanding the scope of application. Moreover, in May 2024, the U.S. Defense Innovation Unit launched a new tech portfolio with quantum sensors initiative with magnetometers as a focus area which bodes well for the market’s growth.
The Canada atomic magnetometer market is projected to expand during the estimated timeline. The rising advent of geophysical exploration in Canada is poised to create sustained demand for atomic magnetometer devices. Furthermore, Canada’s investment in space exploration is poised to create lucrative contracts for manufacturers. For instance, the Canadian Space Agency selected SBQuantum for its magnetometer as a part of the STRATOS Program. Furthermore, the advent of new seismic surveys in Canada is poised to create sustained opportunities for the atomic magnetometer market. For instance, in January 2025, TGS announced the launch of the Dawson Phase III 3D multi-client seismic survey in the Western Canadian Sedimentary Basin.
Europe Market Forecast
The Europe atomic magnetometer market is poised to expand during the forecast period. A key driver is the rising advancements to maintain Europe’s position as a technological leader globally. Major applications will be in the healthcare sector of Europe owing to the rising demand for non-invasive neural activity monitoring. In November 2024, the European Space Agency and Open Cosmos announced the finalization of a contract worth USD 36.7 million to advance magnetic field monitoring. Such projects are expected to drive the demand for atomic magnetometer devices in the region. Furthermore, the European Quantum Flagship initiative is poised to assist in the advancements in magnetometer devices ensuring a steady growth of the sector.
The Germany atomic magnetometer market is projected to expand during the stipulated timeframe. Germany’s position as a central hub for atomic magnetometer research in Europe assists the market’s growth. Additionally, leading institutions in Germany such as Max Planck Institute and Fraunhofer-Gesellschaft are spearheading advancements in magnetometer research.
The France atomic magnetometer market is predicted to grow during the stipulated timeframe. The advent of advanced magnetometers for applications in MCG and MEG is poised to assist the sector’s growth. Additionally, programs supported by the EU such as the Horizon Europe program ensures sustained funding and collaboration for quantum research programs.
The atomic magnetometer market is forecasted to expand during the forecast period. The competitive market is witnessing key players investing and R&D activities to bolster revenue shares. Companies are seeking to improve the efficiency of their magnetometer offerings to cater to growing demand across industries. Additionally, strategic collaborations are expected to help key players to strengthen their footprints in the expanding atomic magnetometer markets. Quantum Corporation, a major player in the market, reported revenue worth USD 311.6 million in its fiscal year 2024 financial summary, while the annual recurring revenue was reported to be USD 145 million.
Here are some key players in the atomic magnetometer market:
Author Credits: Radhika Pawar
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