HOME Press Releases Magnetic Field Sensors Market worth 4.16 Billion USD by 2022

Magnetic Field Sensors Market worth 4.16 Billion USD by 2022

According to the new market research report "Magnetic Field Sensors Market by Type (Hall Effect, Magnetoresistive (AMR, GMR, TMR), MEMS-based, SQUID, Fluxgate)), Range (<1 microgauss, 1 microgauss – 10 gauss, and >10 gauss), Application, End-User Industry - Global Forecasts to 2022", the overall magnetic field sensors market is expected to reach USD 4.16 Billion by 2022, at a CAGR of 8.87% between 2016 and 2022. The major factors driving the growth of the magnetic field sensors market include the rising demand for MEMS-based sensors across industry verticals, surge in automotive industry, increasing demand for high-quality sensing devices, and continuous growth in consumer electronics applications. The market is further driven by the major role of magnetic field sensors in applications such as navigation.

Browse 81 market data tables and 84 figures spread through 190 pages and in-depth TOC on “Magnetic Field Sensors Market - Global Forecasts to 2022”
Early buyers will receive 10% customization on reports.

Magnetic field sensors market for automotive end-user industry expected to hold a major market share during the forecast period

Magnetic field sensors have a huge opportunity for growth in the automotive industry. It is widely used for safety as well as for navigational purposes owing to its high performance and functionality along with cost effectiveness. These are also implemented in automobile vehicles in door switches, engine position, rotary position, linear position, timing, and displacement applications. They are widely adopted for safety features in cars and bikes in anti-lock braking system (ABS) technology which helps in preventing the wheel from locking up while braking and helps prevent skidding of vehicles, thereby minimizing the occurrence of accidents.

Market for >10 gauss range expected to grow at the highest rate between 2016 and 2022

The magnetic field sensors market for the >10 gauss range are expected to witness the highest growth rate between 2016 and 2022. These are widely used in the consumer electronics, industrial, and medical sectors for various applications. They are also used in computer hard disk drives in laptops and computers. In the medical sector, they are used in biosensors and in applications such as displacement sensing, proximity detection, rotational reference. Reed switch is popular among industrial control because of its advantages as it is maintenance free and has a high resistance to dirt and contamination.

APAC expected to grow at the highest rate during the forecast period

Magnetic field sensors have a growing demand in APAC owing to the increasing focus of the region toward the automotive, consumer electronics, and healthcare sectors. In this study, the APAC market has been segmented into India, China, Japan, South Korea, and Rest of APAC. Asia-Pacific is a major market for various sectors such as consumer electronics and automotive, among others. Moreover, the Asia-Pacific region is one of the potential markets for the healthcare and industrial sector as countries such as China, India, and Australia, among others are actively trying to strengthen their position in these markets.

The major companies involved in the development of magnetic field sensors include Asahi Kasei Corporation (Japan), Sanken Electric Co., Ltd. (Japan), Infineon Technologies AG (Germany), Melexis NV (Belgium), Micronas Semiconductor Holdings AG (Switzerland), NXP Semiconductors N.V. (Netherlands), Robert Bosch GmbH (Germany), AMS AG (Austria), Analog Devices, Inc. (U.S.), Honeywell International Inc. (U.S.), TE Connectivity Ltd. (U.S.), MEMSIC Inc. (U.S.), and Bartington Instruments Ltd (U.K.), among others.

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Email: sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support

US : 1-888-600-6441

Search reports