Global Magnetic Field Sensor Market size was valued US$ XX Bn in 2019 and the total revenue is expected to grow at 8.5% from 2020 to 2027, reaching US$ XX Bn.
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Magnetic field sensors are used for detecting magnetic fields and process this information. The outcome of the position, size, width, speed, and strength or the direction of an applied magnetic field can be converted into specific output signals. It is broadly utilized in several industries for contactless current sensing, rotation sensing, linear, and angular position. The global magnetic field sensor market is driven by the growth in the automotive industry and continuous growth in the consumer electronics segment. The major role of magnetic sensors in applications such as navigation and penetration of MEMS technology is impelling market growth in the upcoming period. However, falling average selling prices (asps) of sensor components affecting new market entrants, and inconsistent magnetic field strength and other technological limitations are restraining the market growth at the global level. Increasing demand for hybrid and electric vehicles are likely to create beneficial growth opportunities for the magnetic field sensor industry. The growing requirement of low-cost magnetic sensors between end-user industries, and the need for high product differentiation and innovation to meet unique end-user requirements are the major challenge for the market growth in the near future.
Based on the end-user, the consumer electronics segment has led the magnetic field sensor market in 2019 and is estimated to generate more than US$ XX Mn market revenue by 2027, with a CAGR of XX%. Various companies are providing AMS (Anisotropic Magneto Resistance) sensors in smartphones for navigation and gaming systems that create potential growth for segments in the market. The presentation of innovative technologies will expand the growth phase of the magnetic sensor market. Magnetic field sensors also play an important role in offering basic directional data to drones. Therefore, there is a remarkable growth potential for magnetic field sensors in consumer drone applications.
Geographically, the Magnetic Field Sensor market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the prominent market share of XX% in 2019 and is expected to reach US$ Mn by the end of 2027, with a CAGR of XX%. The growing investment in the consumer electronics industry will boost the regional magnetic field sensor market growth. Automotive manufacturers utilizing recently introduced small magnetic sensor devices in vehicles for better communication, which is the major growth factor for the magnetic sensors market in North America. Europe held the second-largest market share of XX% in 2019 and is estimated to reach US$ XX Mn by the end of 2027, with a CAGR of XX%. Countries in the European Union are more concentrating on hybrid cars, which will use the Hall Effect in the power system of the vehicle to improve the performance, thus, likely to create growth opportunities for the magnetic field sensor market in the upcoming period. Asia Pacific is foreseen to grow at the CAGR of XX% during the forecast period owing to the increasing investments by the companies operating in this field and the well-established base of consumer electronics companies in the region. China, Japan, South Korea, and India are the leading countries in automotive production worldwide, which will generate beneficial opportunities for the market in the APAC region. The rising concentration of the region toward consumer electronics, healthcare, and automotive sectors are fueling the market growth over the coming years.
The report covers the recent development in the market for the global magnetic field sensor market. For e.g., in November 2019, Allegro MicroSystems introduces the first magnetic gear tooth sensor IC intended for traction motors.
The objective of the report is to present a comprehensive analysis of the Global Magnetic Field Sensor Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Magnetic Field Sensor Market dynamics, structure by analyzing the market segments and project the Global Magnetic Field Sensor Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Magnetic Field Sensor Market make the report investor’s guide.
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Global Magnetic Field Sensor Market, by Type:
- Hall Effect sensors
- Hall elements
- Hall ICs
- Magneto resistive sensors
- Anisotropic magneto resistive sensors
- Giant magneto resistive sensors
- Tunnel magneto resistive sensors
- SQUID sensors
- Low-temperature SQUID
- High-temperature SQUID
- Fluxgate sensors
Global Magnetic Field Sensor Market, by Range:
- <1 micro gauss (Low-Field Sensors),
- 1 micro gauss–10 Gauss (Earth Field Sensors),
- >10 Gauss (BIAS Magnetic Field Sensors) consoles
Global Magnetic Field Sensor Market, by Application:
- Speed sensing
- Flow rate sensing
- Position sensing
- Navigation and electronic compass
Global Magnetic Field Sensor Market, by End User:
- Consumer electronics
- Consumer appliances
- Gaming consoles
- Consumer drones
- Point-Of-Sale (POS) Terminal
- Currency Counter/Detector/Sorter
- Aerospace & defense
- Others sectors.
Global Magnetic Field Sensor Market, by Region:
- Asia Pacific
- North America
- Latin America
- Middle East Africa
Global Magnetic Field Sensor Market, Major Players:
- Asahi Kasei MicroDevices
- MEMSIC Inc.
- Honeywell International Inc.
- Allegro MicroSystems, LLC
- Analog Devices, Inc.
- TDK Corporation
- ams AG
- Robert Bosch GmbH
- Infineon Technologies
- Tower Semiconductor Ltd.
- Crocus Technology
- TE Connectivity Ltd.
- MELEXIX N.V
- Sanken Electric Co., Ltd.
- NXP Semiconductors N.V
- Kohshin Electric
- NVE Corporation
- PASCO Corporations
- Baumer Ltd.
- Elmos Semiconductor AG
- Sensitec GmbH
- Coto Technology
- Multidimension Technology Co., Ltd.
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