Market Insights:
The Magnetic Sensor Market was valued at USD 4.6 Bn in 2021, at CAGR of 7.6% during the forecast period (2022-2030), and the Market is projected to be worth USD 8.9 Bn by 2030.
Driver:
The increased adoption of Magnetic Sensor in the Sensors & Controls industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Magnetic Sensor also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Magnetic Sensor in many sectors also boosts the market growth during the forecast period.
Magnetic sensors are generally used to detect disturbances as well as the strength, direction, and flux of the magnetic field. It is also employed as a detecting sensor, which is then utilised to estimate and compute the total magnetic field and vector components of the field.
Magnetic Sensor Market Research Report” was just released by Market Research Community. It is divided into several categories, including Technology (Hall Effect Magnetic Sensor, AMR Magnetic Sensor, GMR Magnetic Sensor, TMR Magnetic Sensor), application (Magnetic Sensor for Industrial, Magnetic Sensor for Automotive, Magnetic Sensor for Consumer Electronics, Others), End-Use (Aerospace, Automotive, Consumer Electronics, Industrial), and companies (Allegro Microsystems, Inc., Alps Electric Co., Ltd, Asahi Kasei Microdevices Corporation, AMS AG, Baumer Ltd., Crocus Technology, Elmos Semiconductor AG, Honeywell International, Inc., iC-Haus, Infineon Technologies AG, Magnetic Sensors Corporation, Melexis Corporation, Memsic Corporation, Micronas Semiconductor Holding AG, Microsemi Corporation, MultiDimension Technology Co. Ltd, NVE Corporation, NXP Semiconductors, Robert Bosch GmbH, Rotary and Linear Motion Sensor (RLS), Sensitec GmbH, and TDK Corporation), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 7.6%, over the forecast period of 2022–2030.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2018-2030 |
| Market Size in 2030 (USD Billion) | 8.9 Billion |
| CAGR (2022-2030) | 7.6% |
| By Technology | Hall Effect Magnetic Sensor, AMR Magnetic Sensor, GMR Magnetic Sensor, TMR Magnetic Sensor |
| By Application | Magnetic Sensor for Industrial, Magnetic Sensor for Automotive, Magnetic Sensor for Consumer Electronics, Others |
| By End-Use | Aerospace, Automotive, Consumer Electronics, Industrial |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Allegro Microsystems, Inc., Alps Electric Co., Ltd, Asahi Kasei Microdevices Corporation, AMS AG, Baumer Ltd., Crocus Technology, Elmos Semiconductor AG, Honeywell International, Inc., iC-Haus, Infineon Technologies AG, Magnetic Sensors Corporation, Melexis Corporation, Memsic Corporation, Micronas Semiconductor Holding AG, Microsemi Corporation, MultiDimension Technology Co. Ltd, NVE Corporation, NXP Semiconductors, Robert Bosch GmbH, Rotary and Linear Motion Sensor (RLS), Sensitec GmbH, and TDK Corporation. |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Magnetic Sensor market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Allegro Microsystems, Inc., Alps Electric Co., Ltd, Asahi Kasei Microdevices Corporation, AMS AG, Baumer Ltd., Crocus Technology, Elmos Semiconductor AG, Honeywell International, Inc., iC-Haus, Infineon Technologies AG, Magnetic Sensors Corporation, Melexis Corporation, Memsic Corporation, Micronas Semiconductor Holding AG, Microsemi Corporation, MultiDimension Technology Co. Ltd, NVE Corporation, NXP Semiconductors, Robert Bosch GmbH, Rotary and Linear Motion Sensor (RLS), Sensitec GmbH, and TDK Corporation.
Market Segment Analysis:
By Technology
- Hall Effect Magnetic Sensor
- AMR Magnetic Sensor
- GMR Magnetic Sensor
- TMR Magnetic Sensor
By Application
- Magnetic Sensor for Industrial
- Magnetic Sensor for Automotive
- Magnetic Sensor for Consumer Electronics
- Others
By End-Use
- Aerospace
- Automotive
- Consumer Electronics
- Industrial
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Magnetic Sensor industries in the region.
Key Magnetic Sensor Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Magnetic Sensor Market segments.
– Largest Market Share Held by Industry to Industry for Magnetic Sensor
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Magnetic Sensor Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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