Magnetic Sensor Market

A magnetic sensor is a sensor that has the ability to detect the disturbances or changes in a magnetic flux like direction, strength, and flux. It notices the geomagnetism and magnitude of magnetism, which are generated by a current or magnet. The data which is attained by the magnetic sensors can be used to monitor the directions, positions, angles of objects, and other such features because of which they are being increasingly used in the various applications such as robotics, automobiles, military, and industrial measurements, among others.

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The major factors which are bolstering the growth of the global magnetic sensor market include the increase in the adoption of magnetic sensors across various industries which includes consumer electronics, automotive industry, and healthcare, among others driven by their ability to process real-time data, notify speed-related problems and gather data of several parameters such as switching, speed sensing, position sensing, and others. Moreover, the rising inclination of manufacturers towards the development of 3D magnetic sensors and increase in the demand for such sensors in autonomous cars owing to their ability to enhance fuel economy and safety are some other factors leading to an upsurge in demand for magnetic sensors in the market all across the world. In addition, various technological advancements for the development of magnetic sensors, such as the implementation of artificial intelligence and increasing R&D investments, are further boosting the growth of the global magnetic sensor market during the forecast period.  The factors which are responsible for hampering the growth of the global magnetic sensor market include the high cost of installation and high pressure of pricing for these sensors in the market.

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Based on the type, the hall effect sensors segment is anticipated to increase at a higher CAGR during the forecast period owing to the increase in the adoption of such types of sensors across industries like consumer electronics and automotive. Various characteristics of such type of sensor that includes increased reliability, longer lifespan, high operational speed, along with the ability to be used for multiple sensor functions and compact design are further surging the demand for these sensors.

Based on application, the speed sensing segment is expected to grow at a higher CAGR in the upcoming years as a result of growing inclination towards the adoption of sensors having enhanced reliability, high accuracy, small size, and easy implementation in the automotive industry.

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Based on the region, Asia-Pacific is anticipated to grow at a higher compound annual growth rate during the forecast period owing to the high adoption of magnetic sensors by the consumer electronics and automotive manufacturing industries across this region. In addition, rising demand for smartphones and automotive has led to the increase in the production of these products across countries like China, India, Japan, along with the presence of various sensor manufacturers in the region are some other factors boosting the growth of magnetic sensors in the market.

Various notable players operating in the market include Allegro MicroSystems, LLC, Asahi Kasei Corporation, TDK Corporation, Infineon Technologies AG, Honeywell International Inc., Melexis, NXP Semiconductors, TE Connectivity, ams AG, and Texas Instruments Incorporated, among others.

Key Developments: 

• • In 2020, Asahi Kasei Corporation launched an ultra-small package latch-type Hall IC named as AK8781, which can be utilized in small DC brushless motors. This sensor has a fast response time and high-temperature operation.
  • In 2020, Allegro MicroSystems, LLC, launched a back-biased, fully integrated GMR transmission speed and direction sensor, ATS19580. This sensor enables to decrease the complexity, system size, and cost and offers enhanced fuel economy.

The global Magnetic Sensor market has been segmented on the basis of type, range, application, end-user industry, and key regions. Based on the type, the market is segmented into magnetoresistive sensors, hall effect sensors, fluxgate sensors, squid sensors, and others. The magnetoresistive sensors market is further categorized into Giant Magnetoresistive (GMR) sensors, Anisotropic Magnetoresistive (AMR) sensors, and Tunnel Magnetoresistive (TMR) sensors. The hall effect sensors market is further categorized into hall elements and hall ICS. The squid sensors market is further categorized into a low-temperature squid and high-temperature squid. Based on the range, the market is segmented into <1 microgauss (low field sensors), 1 microgauss-10 gauss (earth field sensors), and >10 gauss (bias magnetic field sensors). Based on the application, the market is segmented into speed sensing, position sensing, flow rate sensing, navigation & electronic compass, proximity detection/non-destructive testing, and others. Based on the end-user industry, the market is segmented into consumer electronics, transportation, aerospace & defense, healthcare, BFSI, industrial, and others. The consumer electronics market is further categorized into smartphones, consumer appliances, gaming consoles, wearables, consumer drones, and others. The transportation market is further categorized into railway, automotive, and marine. The BFSI market is further categorized into currency counter/detector/sorter, point-of-sale (POS) terminal, and ATM.

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Key questions answered in this research report:

• • At what pace is the global Magnetic Sensor market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global Magnetic Sensor market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Magnetic Sensor market?
  • Which type generated maximum revenues in 2019 and identify the most promising types during the forecast period?
  • What are the various application areas of the Magnetic Sensor market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Global Magnetic Sensor Market by Type

• • Magnetoresistive Sensors
    • Giant Magnetoresistive (GMR) Sensors
    • Anisotropic Magnetoresistive (AMR) Sensors
    • Tunnel Magnetoresistive (TMR) Sensors
  • Hall Effect Sensors
    • Hall Elements
    • Hall ICS
  • Fluxgate Sensors
  • Squid Sensors
    • Low-Temperature Squid
    • High-Temperature Squid
  • Others

Global Magnetic Sensor Market by Range

• • <1 Microgauss (Low Field Sensors)
  • 1 Microgauss-10 Gauss (Earth Field Sensors)
  • >10 Gauss (Bias Magnetic Field Sensors)

Global Magnetic Sensor Market by Application

• • Speed Sensing
  • Position Sensing
  • Flow Rate Sensing
  • Navigation & Electronic Compass
  • Proximity Detection/Non-Destructive Testing
  • Others

Global Magnetic Sensor Market by End-User Industry

• • Consumer Electronics
    • Smartphones
    • Consumer Appliances
    • Gaming Consoles
    • Wearables
    • Consumer Drones
    • Others
  • Transportation
    • Railway
    • Automotive
    • Marine
  • Aerospace & Defense
  • Healthcare
  • BFSI
    • Currency Counter/Detector/Sorter
    • Point-Of-Sale (POS) Terminal
    • ATM
  • Industrial
  • Others

Global Magnetic Sensor Market by Region

• • North America Magnetic Sensor Market (Option 1: As a part of the free 25% customization)
    • North America Magnetic Sensor Market by Type
    • North America Magnetic Sensor Market by Range
    • North America Magnetic Sensor Market by Application
    • North America Magnetic Sensor Market by End-User Industry
    • US Magnetic Sensor Market All-Up
    • Canada Magnetic Sensor Market All-Up
  • Europe Magnetic Sensor Market (Option 2: As a part of the free 25% Customization)
    • Europe Magnetic Sensor Market by Type
    • Europe Magnetic Sensor Market by Range
    • Europe Magnetic Sensor Market by Application
    • Europe Magnetic Sensor Market by End-User Industry
    • UK Magnetic Sensor Market All-Up
    • Germany Magnetic Sensor Market All-Up
    • France Magnetic Sensor Market All-Up
    • Spain Magnetic Sensor Market All-Up
    • Rest of Europe Magnetic Sensor Market All-Up
  • Asia-Pacific Magnetic Sensor Market (Option 3: As a part of the free 25% Customization)
    • Asia-Pacific Magnetic Sensor Market by Type
    • Asia-Pacific Magnetic Sensor Market by Range
    • Asia-Pacific Magnetic Sensor Market by Application
    • Asia-Pacific Magnetic Sensor Market by End-User Industry
    • China Magnetic Sensor Market All-Up
    • India Magnetic Sensor Market All-Up
    • Japan Magnetic Sensor Market All-Up
    • Rest of APAC Magnetic Sensor Market All-Up
  • RoW Magnetic Sensor Market (Option 4: As a part of the free 25% Customization)
    • RoW Magnetic Sensor Market by Type
    • RoW Magnetic Sensor Market by Range
    • RoW Magnetic Sensor Market by Application
    • RoW Magnetic Sensor Market by End-User Industry
    • Brazil Magnetic Sensor Market All-Up
    • South Africa Magnetic Sensor Market All-Up
    • Saudi Arabia Magnetic Sensor Market All-Up
    • UAE Magnetic Sensor Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Magnetic Sensor Market All-Up

Major Operating Players in the Magnetic Sensor Market (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Allegro MicroSystems, LLC
  • Asahi Kasei Corporation
  • TDK Corporation
  • Infineon Technologies AG
  • Honeywell International Inc.
  • Melexis
  • NXP Semiconductors
  • TE Connectivity
  • ams AG
  • Texas Instruments Incorporated