About Magnetometer
Increasing demand for magnetic equipment in research and development based across the globe will assist in business growth of Magnetometers. Magnetometers are the devices used to measure magnetic fields and determining the presence of minerals and metals. These equipment are also used in determining the quantity and type of minerals available in the earth's crust and ocean bed. In addition to this, these devices are used in aerospace applications such as pipeline inspection, space exploration, as well as in drilling applications to determine the path for drilling. Moreover, increasing adoption of Vector Field Magnetometer (VFM) will also assist in improving the demand for magnetometers.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Since the Magnetometers are one of the Technologically Advanced Products they are moderately available across the globe. Moreover, with the introduction to digital magnetometers, the competition across the global population has upsurged drastically which will generate robust competitive rivalry in the global magnetometer market. Analyst at AMA Research estimates that United States and European Manufacturers will contribute the maximum growth to Global Magnetometer market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bartington Instruments Ltd (United Kingdom), Cryogenic Limited (United Kingdom), GEM Technologies (India), Geometrics Inc. (United States), Lake Shore Cryotronics Inc. (United States), Lockheed Martin Corporation (United States), NXP Semiconductors N.V. (Netherlands), Scintrex Limited (Canada), Honeywell International Inc. (United States) and Infineon Technologies AG (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Tristan Technologies Inc. (United States), Marine Magnetics Corp. (Canada), VectorNav Technologies (United States) and Foerster Holding GmbH (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Magnetometer market by Type (Axis, Dimensional and Single Axis), Application (Energy, Healthcare, Aerospace & Defense, Consumer Electronics, Surveyors, Industrial and Others) and Region.
On the basis of geography, the market of Magnetometer 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). If we see Market by Form, the sub-segment i.e. Scalar Magnetometer will boost the Magnetometer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vector Magnetometer, the sub-segment i.e.
will boost the Magnetometer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Scalar Magnetometer, the sub-segment i.e. will boost the Magnetometer market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Adoption of Vector Field Magnetometer (VFM) and Introduction to Highly Advanced and Accurate Digital Magnetometers
Market Growth Drivers:
Growing Use of Magnetometers in Numerous Industrial Applications and Efficiently Detect Fluctuations in the Magnetic Field of the Earth
Challenges:
Lack of Precision Availed by the Conventional Magnetometers
Restraints:
Induces Magnetic Bias of Two Types viz. Hard Iron Bias and Soft Iron Bias and Inability to be Used with Magneto Torquers
Opportunities:
Upsurging Adoption of Magnetometers in Marine Applications and Growing Demand High Sensitivity Per Unit Volume Towards Biomagnetic Fields
Market Leaders and their expansionary development strategies
In February 2023, Lake Shore Cryotronics and oxford Instrument made a leading global innovator in measurement and control solutions
In February 2023 – MEMSIC, the world's leading MEMS technology solution provider, released a new AMR magnetometer MMC5616WA, a new upgrade of MEMSIC's large-scale production of ultra-small size AMR magnetometers, to meet the needs of rich application scenarios including smart phones, wearable devices, drones, and AR/VR.
Key Target Audience
Magnetometer Manufacturers, Magnetometer Distributors and Traders, Upstream and Downstream Buyers, Government Agencies, Research and Development Institutes, Magnetic Equipment Manufacturers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.