We study a class of Markov chains that model the evolution of a quantum system subject to repeated measurements. Each Markov chain in this class is defined by a measure on the space of matrices. It is then given by a random product of correlated matrices taken from the support of the defining measure. We give natural conditions on this support that imply that the Markov chain admits a unique invariant probability measure. We moreover prove the geometric convergence towards this invariant measure in the Wasserstein metric. Standard techniques from the theory of products of random matrices cannot be applied under our assumptions, and new techniques are developed, such as maximum likelihood-type estimations.