Magnetic Field Sensor Market by Type (Hall Effect, Magnetoresistive (AMR, GMR, TMR), SQUID, Fluxgate)), Range (<1 Microgauss, 1 Microgauss–10 Gauss, and >10 Gauss), Application, End-User Industry, Geography - Global Forecast to 2023
Magnetic field sensor market estimated to grow at a CAGR of 8.77% between 2017 and 2023
The overall magnetic field sensor market is expected to be valued at USD 5.37 billion by 2023, growing at a CAGR of 8.77% between 2017 and 2023. The key factor contributing to the growth of the magnetic field sensor market is the growing applications of magnetic sensors in consumer electronics such as smartphones, consumer drones, wearables, and gaming consoles. However, inconsistent magnetic field strength and other technological limitations are the key restraints for the growth of the magnetic field sensor market. The growing importance of magnetic sensors in hybrid and electric vehicles is the major opportunity for the studied market.
“Hall effect magnetic field sensors expected to hold largest market size during forecast period”
Most of the consumer and automotive applications require an inexpensive, robust, and durable sensing technology. For most of the consumer and automotive applications, Hall effect sensor is one of the most apparent choices owing to its noncontacting feature, durability, and robustness to dirt and other environmental contaminants. Thus, Hall effect sensors are expected to hold the leading position in the magnetic sensor market between 2017 and 2023.
“Magnetic field sensor market in APAC expected to grow at highest CAGR during forecast period”
APAC is expected to be the fastest-growing market. The magnetic field sensor market in APAC is divided into India, China, Japan, South Korea, and Rest of APAC. The increase in demand for consumer electronic devices such as laptops, smartphones, and cameras in China is driving the growth of the magnetic field sensor market in this region. This region is one of the largest producers of passenger vehicles in the world, which uses magnetic sensors for applications such as antilock braking systems and central locking systems. Moreover, BFSI is also one of the major industries contributing to the growth of magnetic field sensors in APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts. The breakup of the profiles of primary participants has been given below:
• By Company Type: Tier 1—55%, Tier 2—25%, and Tier 3—20%
• By Designation: C-Level Executives—25%, Directors—50%, Managers—20%, and Others—5%
• By Region: North America—40%, Europe—35%, APAC—15%, and RoW—10%
The key market players profiled in this report are as follows:
• Asahi Kasei Corporation (Japan)
• TDK Electronics Co., Ltd (Japan)
• Infineon Technologies AG (Germany)
• Melexis NV (Belgium)
• Allegro MicroSystems LLC (US)
• NXP Semiconductors N.V. (Netherlands)
• AMS AG (Austria)
• Honeywell International Inc. (US)
• TE Connectivity Ltd. (US)
• Kohshin Electric Corporation (Japan)
• The market has been segmented on the basis of type into Hall effect sensors (Hall elements and Hall ICs), magnetoresistive sensors (AMR, GMR, and TMR), SQUID sensors (low-temperature SQUID and high-temperature SQUID), fluxgate sensors, and others (optically pumped, Overhauser, magnetodiode, magneto-optical, magnetoinductive, and reed).
• The market has been segmented on the basis of range into <1 microgauss (low-field sensors), 1 microgauss–10 gauss (earth field sensors), and >10 gauss (BIAS magnetic field sensors).
• The report provides qualitative information on applications of magnetic field sensors. These include speed sensing, flow rate sensing, detection/NDT, position sensing, navigation and electronic compass, and others.
• The report covers the following end-user industries: transportation, consumer electronics, healthcare, aerospace & defense, industrial, BFSI, and others (F&B, energy & power, and research).
• The geographic analysis is done with regard to 4 major regions—North America, Europe, APAC, and RoW (South America and Middle East & Africa).
Reasons to Buy This Report:
From an insight perspective, this research report has focused on various levels of analysis—market ranking analysis of top players and value chain analysis. Company profiles discuss the basic views on the competitive landscape, emerging and high-growth segments of the magnetic field sensor market, and high-growth regions. An analysis of market drivers, restraints, challenges, and opportunities has also been performed.
The report provides insights into the following pointers:
• Market penetration: comprehensive information on magnetic field sensors offered by the top players in the overall magnetic field sensor market
• Product development/innovation: detailed insights regarding R&D activities, emerging technologies, and product launches in the magnetic field sensor market
• Market development: comprehensive information on lucrative emerging markets
• Market diversification: exhaustive information on new products, untapped geographies, recent developments, and investments in the overall magnetic field sensor market
• Competitive landscape: in-depth assessment of market ranking analysis, strategies, products, and manufacturing capabilities of the leading players in the magnetic field sensor market
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