Global Magnetic Field Sensors Market, By Type (Hall Effect Sensors, Magneto Resistive Sensors, SQUID Sensors, Fluxgate Sensors, Others), Rnage (10 Gauss (BIAS Magnetic Field Sensors) Consoles), Application (Speed Sensing, Flow Rate Sensing, Detection, Position Sensing, Navigation And Electronic Compass, Others), End Users (Transportation, Consumer Electronics, BFSI, Healthcare, Aerospace and Defense, Industrial, Others Sectors), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights: Global Magnetic Field Sensors Market
The magnetic field sensors market is expected to witness market growth at a rate of 8.10% in the forecast period of 2021 to 2028 and is expected to reach by the value of USD 1,524.49 million by 2028. Data Bridge Market Research report on magnetic field sensors market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rapid digitization across various industries globally is escalating the growth of the magnetic field sensors market.
Magnetic field sensor refers to a device that is utilized for studying magnetic field around coil, permanent magnets, and around electrical device. These sensors have rotating sensor tip that assists in measuring both transverse and longitudinal magnetic fields around the objects. They measure two range of magnetic fields, including strong magnetic fields around permanent magnets and electromagnets, and weak magnetic fields such as Earth’s magnetic field.
The rise in the penetration of devices such as smartphones among population across the globe acts as one of the major factors driving the growth of magnetic field sensors market. The rise in the use of these sensors in various safety systems such as force and torque sensing, Electronic Stability Control (ESC) and Anti-Lock Braking Systems (ABS), and steering angle sensing, among others, and high need to integrate safety function in vehicles accelerate the market growth. The increase in demand for consumer electronics among people and rise in the popularity of Electronic compasses or E-compasses owning to their ability to enhance user navigation further influence the market. Additionally, growth of consumer electronics industry, urbanization and digitization, and surge in investments in magnetic sensor ecosystem positively affect the magnetic field sensors market. Furthermore, increase in the manufacturing of hybrid and electric cars extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
- On the other hand, intense pricing pressure and increase in demand for low-cost magnetic field sensors are expected to obstruct the market growth. The shortage of raw material for manufacturing of sensors and supply chain disruption due to COVID-19 is projected to challenge the magnetic field sensors market in the forecast period of 2021-2028.
This magnetic field sensors market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info magnetic field sensors market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Magnetic Field Sensors Market Scope and Market Size
The magnetic field sensors market is segmented on the basis of type, range, applications, and end-users. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the magnetic field sensors market is segmented into Hall Effect sensors, magneto resistive sensors, SQUID sensors, fluxgate sensors, and others. Hall Effect sensors are further segmented into magneto resistive sensors, giant magneto resistive sensors, tunnel magneto resistive sensors, and others. Magneto resistive sensors are further bifurcated into hall elements, hall ICs and others. SQUID sensors are further segmented into low-temperature SQUID, high-temperature SQUID, and others.
- On the basis of range, the magnetic field sensors market is segmented into <1 micro gauss (low-field sensors), 1 micro gauss–10 gauss (earth field sensors), and >10 gauss (BIAS magnetic field sensors) consoles.
- On the basis of application, the magnetic field sensors market is segmented into speed sensing, flow rate sensing, detection, position sensing, navigation and electronic compass and others.
- On the basis of end users the magnetic field sensors market is segmented into transportation, consumer electronics, BFSI, healthcare, aerospace & defense, industrial and others sectors.
Global Magnetic Field Sensors Market Country Level Analysis
The magnetic field sensors market is analyzed and market size, volume information is provided by country, type, range, applications, and end users as referenced above.
The countries covered in the global magnetic field sensors market report are the U.S., Canada, and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America dominates the magnetic field sensors market due to the high demand due to the growing investment in smart device within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2021 to 2028 because of the economic growth in the developing nations.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Magnetic Field Sensors Market Share Analysis
The magnetic field sensors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to magnetic field sensors market.
The major players covered in the magnetic field sensors market report are LPS ALPINE CO., LTD., Baumer, Crocus Technology, Elmos Semiconductor AG, HONEYWELL INTERNATIONAL INC., Magnetic Sensors Corporation, Melexis, TDK Corporation, Sensitec GmbH, Analog Devices, Inc., Bosch Sensortec GmbH, NXP Semiconductors, NVE Corporation, MultiDimension Technology Co.,Ltd., Allegro MicroSystems, LLC, Diodes Incorporated, Infineon Technologies AG, STMicroelectronics, TE Connectivity, and Asahi Kasei Microdevices Corporation., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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