Magnetic Field Sensors Global Market - Scenario:

High growth in consumer electronics & semiconductor industry, increasing adoption of cloud-based services and smart technology, Developing IoT market, and development in electric vehicles are some of the factors driving the growth in magnetic field sensor market globally. However, technology limitations, and high initial cost of magnetic field sensors are some of the factors expected to hinder the market growth in coming years.

Companies such as Honeywell International Inc. (U.S.), Analog Devices, Inc. (U.S.), TDK Corporation (Japan), AMS AG (Austria), Robert Bosch GmbH (Germany), Infineon Technologies (Germany), are the leading providers of magnetic field sensor solution in the global market. On September 27, 2017, Tower Semiconductor Ltd. and Crocus Technology announced about their product expansion inmagnetic sensors market which includes magnetic transducers that sense magnetic field and are widely used in modern industries and electronics.

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The emergence of wearable technologies and the increasing role of magnetic flux sensors in applications are few driving factors for the growth of magnetic field sensor market. Wearable technologies are widely used in consumer electronics devices. Additionally, penetration of MEMS technology is propelling the market growth of magnetic field sensor. These MEMS technologies are widely used in various sectors such as automotive, industrial, consumer electronics, medical, aerospace, defense, and others.

Magnetic Field Sensors Global Market- Segmentation

The Magnetic Field Sensors Market can be classified into five key segments as follows:

Segmentation by Type: Hall Effect Sensors, Magneto Resistive Sensors, SQUID Sensors, and Fluxgate Sensors.

Segmentation by Range: 1 Micro Gauss (Low-Field Sensors), 1 Micro Gauss–10 Gauss (Earth Field Sensors), 10 Gauss (BIAS Magnetic Field Sensors) Consoles.

Segmentation by Applications: Speed Sensing, Flow Rate Sensing, Detection, Position Sensing, and Navigation & Electronic Compass.

Segmentation by End-Users: Transportation, Consumer Electronics, BFSI, Healthcare, Aerospace & Defense, and Industrial.

Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific and Rest of the World.

Magnetic Field Sensors Global Market - Industry News and Development

February 2018 – Allergo Microsystems, a leading manufacturer of high-performance power and hall-effect sensor ICs, introduced giant magneto resistive (GMR) based IC. The new GMR based IC is 25 times more sensitive than the traditional one and is capable of detecting magnetic field generated by the current flowing through the conductor of the device. The IC is ideal for applications such as laptop chargers, walkie-talkie, surveillance systems, and motor control applications.

January 2018 - The Helmholtz-Zentrum Dresden-Rossendorf, a German based research laboratory, has developed a magneto sensitive electronic skin which is also referred as E-skin. The E-skin is capable of tracking subtle motions of human hands related to the angle of an external magnetic field. Then the information is sent to computers for further translating it into a function or a command.

September 2017 – TowerJazz, Semiconductor Ltd., a leading manufacturer of ICs, partnership with Crocus, a leading magnetic field sensor developer. Under this partnership, TowerJazz would manufacture tunnel magneto resistance sensors using their CMOS processor technology which helps Crocus in broadening their presence in sensors market.

Magnetic Field Sensors Global Market - Regional Analysis:

Geographically, the market spans across North America, Europe, Asia Pacific, and Rest-of-the-World (RoW).

North America is currently setting the trends. With a huge market that is involved in radically improving smartphones and gadgets and an automotive sector regaining lost grounds, the region is fueling enough demand for the magnetic sensors.

Europe is following the lead. Well-structured industries such as BFSI and healthcare are creating demand for magnetic sensors and earning revenues for the market.

The APAC is the fastest growing region. China, India, and Japan are showing an unprecedented demand for automotive and smart gadgets. This is directly boosting the magnetic sensor market. Furthermore, the renewable energy sector is also giving the market a much-needed boost.

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Magnetic Field Sensors Global Market - Dashboard:

The burgeoning market is also emerging as a competitive one due to mergers and acquisitions reshaping the demography continually. For instance, TDK Corporation acquired InvenSense, Inc. recently in a bid to improve its current market position.

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