What is Magnetic Sensor Market Scope?
Magnetic sensors, a transducer that converts a magnetic field into an electrical signal, used in various types of applications including sensing position, and directional velocity. In the current scenario, as the demand rises for faster and more efficient production lines, the role of the magnetic sensor has also evolved to include the use of safety switches and proximity detection. The surge in demand for Industrial Internet of Things (IIoT) and production of consumer electronics, electric and hybrid vehicles, and high-quality sensing devices are influencing the adoption of magnetic sensors across several end-user industries globally. This, in turn, to drive the growth of the global magnetic sensors market in the upcoming years.
The Magnetic Sensor market study is being classified by Type (Hall Effect Sensors, Anisotropic Magnetoresistive (AMR) Sensors, Giant Magnetoresistive (GMR) Sensors, Tunnel Magnetoresistive (TMR) Sensors and Others), by Application (Detection/NDT, Flow Rate Sensing, Position Sensing, Speed Sensing, Position Sensing, Navigation and Electronic Compass and Others) and major geographies with country level break-up.
Asahi Kasei MicroDevices (Japan), Honeywell (United States), Allegro Microsystems (United States), Crocus Technology (United States), TDK Corporation (Japan), AMS (Austria), Infineon Technologies (Germany), TE Connectivity (Switzerland), MELEXIX (Belgium), NXP Semiconductors (Netherlands) and Kohshin Electric (Japan) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are ST Microelectronics (Switzerland), Texas Instruments (United States) and Murata Manufacturing Co., Ltd. (Japan).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Magnetic Sensor market by Type, Application and Region.
On the basis of geography, the market of Magnetic Sensor has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Market Trend
- Top Market Players are Offering Magnetic Sensors to Hybrid and Electric Vehicle Manufacturing Companies
- Increasing Use of Sensors in IoT Enabled Devices
Market Drivers
- Increasing Use of Magnetic Sensors in Automotive Industry
- The Growth in the Sales and Production of Consumer Electronics Products
- Surging Adoption of Robotics for Industrial Automation across the World
Opportunities
- Increasing Need for Magnetic Sensor in UAVs
Restraints
- Falling Average Selling Prices (ASPS) of Sensor
- Inconsistent Magnetic Field Strength and Other Technological Limitations
Challenges
- High Cost of Magnetic Field Sensors
- Need for High Product Differentiation and Innovation to Meet Unique End-User Requirements
Key Target Audience
Magnetic Sensor Manufacturers, Automotive and Consumer Electronics Companies, Semiconductor Component Suppliers, Magnetic Sensors Distributors, Sales Firms, Electronic System Assemblers, Technology Providers, Semiconductor Companies, Magnetic Sensor Material Suppliers, Government Bodies and Others
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also include significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets , To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.