Using a magnetometer to measure the strength or direction of a magnetic field is a basic principle in almost all fields of technology. From weapons search to biomedical applications, the measurement of changes in the vicinity of magnetic sensors is a critical part of today's technology. Magnetic sensors are of different types. The most common magnetic sensors are solid-state Hall Effect sensors. These devices detect the magnetic flux perpendicular to the surface of the chip and produce an electrical signal proportional to the strength of the applied magnetic field. In some applications with large magnetic field strength, Hall Effect sensors are used instead of traditional coils.
Market Dynamics:
The increasing use of magnetic sensors for position sensing applications in consumer electronics. Moreover, the increasing use of magnetic sensors for safety applications in the automotive sector is expected to drive the magnetic sensor market. Moreover, the growing demand for hybrid vehicles and passenger vehicles is expected to drive the market.
Factors such as electronics industry influenced by the Covid-19 outbreak and decline in average selling price of semiconductors and sensors are expected to hinder growth of the global magnetic sensors market over the forecast period.
Key features of the study:
- This report provides in-depth analysis of the global magnetic sensors market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global magnetic sensors market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Texas Instruments Inc., Infineon Technologies AG, TE Connectivity Ltd., Analog Devices, TDK Corporation, Crocus Technology, STMicroelectronics NV, Honeywell International Inc., Omron Corporation, Allegro Microsystems (Sanken Electric Company), NXP Semiconductors NV, Murata Manufacturing Co. Ltd., and NVE Corporation
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global magnetic sensors market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global magnetic sensors market
Detailed Segmentation:
- Global Magnetic Sensors Market, By Technology
- Hall Effect
- Anisotropic Magneto Resistance (AMR)
- Giant Magneto Resistance (GMR)
- Tunneling Magneto Resistance (TMR)
- Other Technologies
- Global Magnetic Sensors Market, By Application
- Automotive
- Consumer Electronics
- Industrial (apart from Automotive)
- Other Applications
- Global Magnetic Sensors Market, By Geography
- North America
- Europe
- Asia-Pacific
- Rest of the World
- MEA
- Company Profiles:
- Infineon Technologies AG
- Analog Devices
- Crocus Technology
- Honeywell International Inc.
- Allegro Microsystems (Sanken Electric Company)
- Murata Manufacturing Co. Ltd
- NVE Corporation
- NXP Semiconductors NV
- Omron Corporation
- STMicroelectronics NV
- TDK Corporation
- TE Connectivity Ltd
- Texas Instruments Inc.
