The global magnetic sensors market size is expected to reach USD 3.65
billion by 2022 according to a new report by Grand View Research, Inc.
Technological advancements and an increased
awareness regarding vehicle safety are anticipated to drive the global magnetic
sensors market growth over the forecast period. Escalating demand for GPS &
navigation enabled smartphones and wearable devices is expected to further
incite industry growth.
Magnetic sensing devices are used for detecting
and measuring magnetic fields. These sensors assist in wear-free measurement of
angular speed and angle of rotation with contactless operation. They are widely
used in consumer electronic devices such as smartphones and wearable devices
for position sensing, switching, current sensing, and angular sensing. In
addition, they are used in white goods and heavy consumer durables such as air
conditioners and refrigerators.
However, intense competition and a gradual
decline in the average selling price have left the industry unattractive for
vendors, thereby challenging market growth.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/magnetic-sensors-market
North America magnetic sensors market by technology, 2012-2022, (USD Million)
Further key findings from the report suggest:
- Magnetic sensors used across various industry verticals are based on different sensing technologies such as Hall Effect, Anisotropic Magnetoresistance (AMR), Giant Magnetoresistance (GMR), and others such as Tunneling Magnetoresistance (TMR) and Superconducting Quantum Interface Device (SQUID). Hall Effect based sensing module segment dominates the industry accounting for over 55% of the market share in 2014. They are extensively used in various automotive safety systems including Anti-lock Braking Systems (ABS) and advanced driver assistance systems.
- Magnetic sensors find numerous applications across various verticals including automotive, consumer electronics, industrial, and others such as aerospace and defense, R&D, and non-destructive testing activities. Automotive applications segment dominated the industry accounting for over 50% of the market revenue share in 2014. These sensing devices form an essential part of major safety and driver assistance systems in modern day vehicles thereby driving their demand. Moreover, such sensors and switches have become a critical part of the battery systems in hybrid and Electronic Vehicles (EV) owing to their efficient and battery saving operation.
- Asia Pacific region dominates the global market in terms of demand and is projected to grow at a CAGR of nearly 12% over the forecast period. Presence of major end-use industries in the region has led to an increasing demand for such sensing modules in the region. Countries such as China, Japan, and India house most of the technological and automotive giants leading to an escalating demand over the forecast period.
- Key industry participants include Baumer, Honeywell International Inc., iC-Haus, Infineon Technologies AG, Mesmic Corporation, NXP Semiconductors, and Robert Bosch GmbH. Major vendors are based in countries from the European Union and Asia Pacific region to cater to an ever-increasing need for such sensing devices from the growing automotive and consumer electronic industry. Manufacturers resort to mergers, alliances, and vertical integration to streamline the process of procurement and drive profitability.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/electronic-devices
Grand View Research has segmented
the global magnetic sensors market on the basis of technology, application, and
region:
Magnetic Sensors Technology Outlook
(Volume, Million Units ; Revenue, USD Million 2012 – 2022)
- Hall Effect
- AMR
- GMR
- Others
Magnetic Sensors Application Outlook
(Volume, Million Units ; Revenue, USD Million 2012 – 2022)
- Automotive
- Consumer Electronics
- Industrial
- Others
Magnetic Sensors Regional Outlook
(Volume, Million Units ; Revenue, USD Million 2012 – 2022)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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