Magnetic Sensor Market

Magnetic Sensor Market worth $5.6 billion by 2024

According to the new market research report "Magnetic 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 2024", the overall magnetic sensor market is expected to be valued at USD 5.6 billion by 2024, growing at a CAGR of 7.5% between 2019 and 2024. The demand for reliable, high-performance, and low-cost sensors is increasing, leading to the development of new technologies. Magnetic sensors offer several key advantages; they allow contactless and consequently wear-free measurement of mechanical and electrical quantities, such as angle of rotation, angular speed, linear position, linear speed, and current. These devices have gained immense popularity as they are robust and cost-effective.

Browse 68 market data Tables and 48 Figures spread through 163 Pages and in-depth TOC on "Magnetic Sensor Market - Global Forecast to 2024"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/magnetic-field-sensors-market-521.html

Magnetic sensor market for consumer electronics end-user industry expected to grow at highest CAGR between 2019 and 2024

The magnetic sensor market for the consumer electronics industry is in the growth phase and is expected to witness demand in the coming years owing to the new applications such as motion gaming and navigation being introduced in devices such as mobile phones. The introduction of new technologies will extend the growth phase of the magnetic sensor market. Magnetic sensors also play an important role in providing critical directional information to drones. Thus, there is tremendous growth potential for magnetic sensors in consumer drone applications.

>10 gauss range expected to hold major share of magnetic sensor market during forecast period

>10 gauss range is expected to dominate the overall magnetic sensor market during the forecast period. The automotive segment is the major revenue pocket for the magnetic sensor market. The BIAS magnetic sensor technology, mainly comprising Hall and GMR sensors, is widely used in automotive applications. The BIAS magnetic sensor technology also finds applications in the industrial and infrastructure segment in automation equipment, conveyors, packaging equipment, and other applications incorporating motor latches.

Magnetic sensor market in APAC expected to grow at highest CAGR during forecast period

Magnetic field sensors have a growing demand in APAC owing to the increasing focus of the region toward automotive, consumer electronics, and healthcare sectors. In this study, the magnetic sensor market in APAC has been divided into India, China, Japan, South Korea, and Rest of APAC. China is the largest automotive and consumer electronics manufacturing country in the world. Thus, the fastest growth in APAC will be seen in China mainly due to the applications such as antilock braking systems and central locking systems wherein magnetic field sensors are largely used. The gaming industry is also booming at a fast rate, which will add to the consumption of magnetic sensors in consumer electronics in the country.

Major companies involved in the development of magnetic field sensors include Asahi Kasei MicroDevices (Japan), Honeywell (US), Allegro Microsystems (US), TDK Corporation (Japan), AMS (Austria) Infineon Technologies (Germany), TE Connectivity (Switzerland), MELEXIX (Belgium), NXP Semiconductors (Netherlands), and Kohshin Electric (Japan), among others.

Don’t miss out on business opportunities in Magnetic Sensor Market . Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" 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.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Report Code
SE 2688
PR Published ON
8/6/2019
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Magnetic Sensor Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved
...

Digital Virtual Assistant - MarketsandMarkets

Home