April 4, 2020

Magnetic Sensors Market will be Growing at a CAGR of 7.0% during the forecast period from 2019 to 2027

According to a new market research report published by Credence Research, the global market for magnetic sensors was valued at US$ 2.2 billion in 2018 and is set to grow with a CAGR of 7.0 per cent over the forecast period 2019 to 2027.

Market Insights

The global market for magnetic sensors is driven by technological advancements and increasing applications of magnetic sensors in consumer electronics such as smartphones, laptops, IoT devices and other electronic devices. These sensors are used to measure different parameters and to detect objects, e.g. they are used in devices for measuring the flow, speed or position of the object or fluid. In addition, the adoption of these devices in the automotive sector is a key driver of the magnetic sensor, as these sensors are used in various electronic vehicle control systems, such as electronic stability control, anti-lock braking and engine control. Moreover, the increasing investment in the automobile and consumer electronics sector is also driving the magnetic sensor market as companies are researching and developing new materials.

Browse the full report at https://www.credenceresearch.com/report/magnetic-sensors-market

In addition, different companies are developing new sensors to improve the efficiency of the work process. In June 2018, Infineon Technologies AG launched the XENSIV TLE5501 family of magnetic angle sensors based on the TMR technology. However, the declining price of semiconductors and sensors is expected to hinder market growth.

Based on technology, the market for magnetic sensors has been segmented as a hall effect, anisotropic magneto resistance, giant magneto resistance, tunnel magneto resistance, etc. Hall Effect technology has the largest market share of the technology sensor in the magnetic sensor market due to the various advantages associated with it, such as the ability of Hall Effect sensors to withstand dust, water and vibration.

The Hall Effect sensors have various applications, for instance, these are used in motor control devices for protection and indications, motion sensing, flow sensing, voltage regulation, and others. The current electric vehicles are also using the Hall Effect sensors based on priority.

Asia-Pacific is expected to be the fastest growing market due to the presence of China, Japan, India, South Korea, and others developed and developing the country in the region. The demand for consumer electronics and automobile is growing with high rate. The increasing disposable income in the region is a factor driving the market in the region. Moreover, the presence of various manufacturing companies of sensors in the region also drives the market.

Some of the major companies Infineon Technologies AG, Analog Devices, Honeywell International Inc., Allegro Microsystems, Inc., Magnetic Sensors Corporation, Alps Electric Co., Ltd, AMS AG, Baumer Ltd., Elmos Semiconductor AG, ST Microelectronics, Texas Instruments Inc., NVE Corporation, Sensoronix, Inc., Asahi Kasei Microsystems, Micoronas Semiconductors, Bosh Sensortec, NXP Semiconductors.

Credence Research is providing Free Sample Get it here: https://www.credenceresearch.com/sample-request/59772

Report Scope by Segments

By Technology Segment

  • Hall Effect
  • Anisotropic Magneto Resistance
  • Giant Magneto Resistance
  • Tunneling Magneto Resistance
  • Others

By End-User Segment

  • Automotive
  • Consumer Electronics
  • Industrial
  • Healthcare
  • Others

By Application

  • Speed sensing
  • Flow rate sensing
  • Detection/NDT
  • Position sensing
  • Navigation and electronic compass

By Geography Segment

  • North America (U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (Middle East & Africa, Latin America)

Credence Research is providing Free Sample Get it here: https://www.credenceresearch.com/sample-request/59772

Leave a Reply

Your email address will not be published. Required fields are marked *