What is Magnetic Field Sensor Market Scope?
Magnetic field sensor, a device which is used to measure and detect magnetic flux and direction of a magnetic field. The device is highly used in navigation, scientific measurement and also various applications including automotive, electronics and modern industry to measure the current, position and direction by induced magnetic field intensity. The current trend of smart gadgets such as smartphones, tablets, computer and growing industrial IoT technology (IIoT) is propelling the use of magnetic field sensors and offering the humongous opportunity to the key market players.
Influencing Trend:
Increasing Demand for Hybrid and Electric Vehicles in Developed Economies and Growing Magnetic Sensor Market for IoT Technology
Market Growth Drivers:
Growth in Automotive Industry, Increasing Demand of Consumer Electronics Across the World and Surging Adoption of Navigation System
Challenges:
Need for High Product Differentiation and Innovation to Meet Unique End-User Requirements
Restraints:
Falling Average Selling Prices (ASPS) of Sensor Components Affecting New Market Entrants and Inconsistent Magnetic Field Strength and Other Technological Limitations
Opportunities:
Need for Magnetic Sensors in UAVs and Growing Usage of High-Quality Sensing Devices
The Magnetic Field Sensor market study is being classified by Type (Hall Effect Sensors , Magnetoresistive Sensors , Squid Sensors , Fluxgate Sensors and Others ), by Application and major geographies with country level break-up.
Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Magnetic Field Sensor market throughout the predicted period.
Asahi Kasei Microdevices Corporation (Japan), Allegro Microsystems (United States), Infineon Technologies (Germany), TDK Corporation (Japan), Melexis NV (Belgium), Honeywell (United States), TE Connectivity (Switzerland), AMS AG (Austria), NXP Semiconductors (The Netherlands) and Kohshin Electric Corporation (Japan) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are QuSpin (United States), Sensitec GmbH (Germany), Crocus Technology (United States), Coto Technology (United States) and Multidimension Technology Co. Ltd. (China).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Magnetic Field Sensor market by Type, Application and Region.
On the basis of geography, the market of Magnetic Field 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).
Market Influencers and their Development Strategies
In January 2019, Allegro MicroSystems has announced the release of its most advanced transmission speed sensor family members. These devices have been developed in accordance with ISO 26262:2011 as a hardware safety element out of context with ASIL B capability for use in automotive safety-related systems. and In January 2019, TDK Corporation and the Joint Research Department of Advanced Medical Technology and Department of Cardiovascular Medicine at the Graduate School of Medical and Dental Sciences of Tokyo Medical and Dental University (TMDU) have jointly succeeded in the world’s first real-time measurement of magnetic field distribution of the heart using high-sensitivity MR elements
Key Target Audience
Magnetic Sensor Manufacturers, Automotive and Consumer Electronics Companies, Semiconductor Component Suppliers, Magnetic Sensor Distributors, Electronic System Assemblers, Technology Solution Providers, Design Contractors, Electronics and Semiconductor Companies, Magnetic Sensor Material Suppliers, Technology Standards Organizations and Associations, Universities and Research Organizations and Others
Magnetic Field Sensor Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Billion) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Magnetic Field Sensor Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Magnetic Field Sensor industry is examined with reference relevant market sectors and sub-sectors.
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 includes 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.