Magnetic Sensors Market - Forecast(2022 - 2027)

Magnetic sensor, also known as a magnetic field sensor is classified in terms of measuring a complete magnetic field or vector-components of the magnetic field. Permanent magnets such as neodymium magnets are used to trigger the magnetic sensors in several applications. Magnetic sensor is used to identify magnitude and direction of magnetic field. It comprised of rotating sensor tip which measures both transverse and longitudinal magnetic fields around the objects. Magnetic sensor uses “Hall Effect” (produces voltage difference across electrical conductor, transverse to electric current) transducer that measures vector component of magnetic field near the sensor tip. Magnetic Sensor also enables to detect and read data from microelectromechanical systems, such as temporary memory processing unit, hard drives, MRAMs.

Advancement of small scale ‘Micro Electro Mechanical Systems’ (MEMS) for detecting and measuring magnetic fields is primarily driving the market along with growth of consumer electronics appliances. Magnetic sensors based on MEMs operates with Lorentz Force which makes it work more efficiently. Moreover, integration of magnetic sensor in automotive industry allow contactless and ‘wear free’ measurement of mechanical quantities such as angle of rotation and angular speed. As stated by Magnetic Sensors Market analysis Governments’ encouragement to use eco-friendly vehicles and growth of consumer electronics will increase the market share during the forecast period.

North America held the highest percentage of shares in 2017 and expected to increase the market share during the forecast period. Automotive manufacturers using newly initiated miniature magnetic sensor devices in vehicles for better communication which is the major growth driver for magnetic sensors market. Countries in European Union are greatly focusing on the hybrid cars which will use the Hall Effect in the power system of the vehicle to enhance the performance. The market In Europe is expected to witness a growth in CAGR during the forecast period and also open up to future possibilities for expanding the market size. 

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This report segments global magnetic sensors market on the basis of type, technology, application and regional market as follows:

Global Magnetic Sensors Market, By Type: Anisotropic Magneto-Resistive (AMR) magnetometer, Hall Effect, SQUID Sensor magnetometer, Giant Magneto Resistance (GMR) Magnetometer and Tunnel Magneto Resistance (TMR) Magnetometer

Global Magnetic Sensors Market, By Technology: Low Field Sensor Technology, Earth Field Sensor Technology and Bias Magnetic Field Sensor Technology

This report provides depth analysis on magnetic sensors market on the basis of various applications in which its being used: Industrial, Robotics, Energy & Power, Consumer electronics, Healthcare, Aerospace and Defense, Automotive and others

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This is report has been further segmented into major regions, which includes detailed analysis of each region such as: North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW) covering all the major country level markets in each of the region

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Geographically, Asia Pacific is dominating global magnetic sensors market, due to increasing demand for automobiles and smart phones in this region and North America is projected to have the fastest growth, owing to revised government policies and expansion of the magnetic sensors business in this region. Growing application of sensing devices coupled with advancement in sensing technology are considered as the key market trends of Magnetic Sensors Market. 

Sample Companies profiled in this Report are:

Elmos Semiconductor AG (Germany

Baumer Ltd. (U.S.)

Honeywell International, Inc. (U.S.)

Robert Bosch GmbH (Germany)

NVE Corporation A (U.S.)

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