Magnetic Field Sensor Market

Tunnel Magnetoresistance (TMR) Technology Potential Growth Market for Magnetic Field Sensors

Magnetic field sensors are being employed since over 2,000 years. Earlier magnetic field sensors were used mainly for direction finding or navigation. Nowadays, due to the advancements in technology, magnetic field sensors find a large number of applications in numerous segments such as the consumer, medical, automotive, and the defense sectors. Hall Effect sensors, magnetoresistive sensors, and SQUID (Superconducting Quantum Interference Devices) are some of the technologies used in magnetic field sensors. Among these, the TMR technology is expected to drive the demand of the magnetic field sensor market over the next few years, as this sensor offers many features and advantages over its competing technologies.

TMR (Tunnel Magnetoresistance) is a new type of magnetoresistive sensor. It was discovered in 1975 by M. Julliere (University of Rennes, France) and was developed using the Magnetic Tunnel Junction (MTJ) technology.  The TMR sensor technology possesses superior properties and high prospective for surviving in the next-generation magnetic sensors for the automobile and industrial applications, which include high output accuracy, low power consumption, high sensitivity, high operating range temperature, wide air gap, 360 ̊ angle detection, low cost, detection of extremely low magnetic field, smaller sensor size, larger installation tolerance, robustness, and high magnetic field tolerance. TMR holds the potential to give a stiff competition to other technologies such as AMR and GMR after 2020, and is estimated to grow at a high CAGR of 13.61% between 2014 to 2020.

The TMR sensor is in its emerging phase; with the ongoing advancements of this sensor, it is expected to be more useful in switches, electronic compasses, and non-destructive testing. It can also be used in magnetic speed sensors, magnetic current sensors, magnetic position sensors, image processing equipment, and medical fields. The TMR sensors are also used in the magnetic heads, for reading information from the hard disk. Some of the companies providing TMR magnetic field sensors are Multi Dimension Technology (China), Sensitec GmbH(Germany), NVE Corporation (U.S.), and Fujitsu Ltd. (Japan).

Related Reports:

Magnetic Field Sensors Market by Type (Hall Effect, Magnetoresistive, SQUID, Others), Technology (Low Field, Earth Field, BIAS Magnetic Field Sensors), Applications (Automotive, Consumer Electronics, Industrial & Infrastructure, Medical, Aerospace & Defense) and Geography - Forecasts & Analysis to 2013 2020
https://www.marketsandmarkets.com/Market-Reports/magnetic-field-sensors-market-521.html

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Report Code
SE 2688
RI Published ON
9/17/2014
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