Europe is one of the chief regions in the magnetic sensor market due to the presence of a massive automotive industry and several automotive manufacturers including BMW, Volkswagen, Mercedes-Benz and others. According to the European Automobile Manufacturers Association, in 2017, 19.6 million motor vehicles were manufactured in Europe, contributing to 20% of the global production. Growing trends for integration of IoT, navigation and tracking system coupled with stringent government policies for safety, will fuel growth of the market in the region. With the widespread application of magnetic sensors, the magnetic sensor industry is estimated to witness an exponential growth rate.
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Asia Pacific magnetic sensor market will grow owing to the presence of large manufacturing industries and the consumer electronics market. Countries such as China and India have a large number of consumer electronic users, creating a demand for these components for navigation in smartphones and other electronic products. The implementation of these components in devices such as gaming, virtual reality headsets, gesture control, and other electronic devices will further add to the regional growth.
The automotive sector is another major application area in the magnetic sensor market. The capabilities of these components such as contactless and wear-free measurements are increasing their adoption in automotive applications. The growing awareness of vehicle safety is increasing the adoption for effective and safer driving. For instance, the steering wheel sensor LWS3 by Robert Bosch is particularly developed for the electronic stability program and is highly useful to prevent the vehicle from spinning.
The aerospace industry is a cooperation of public and private industries and is expanding in both the sectors. The use of magnetic sensors for sensing magnetic field in aircrafts is indispensable and is providing high growth potential to the aerospace magnetic sensor market.
The magnetic sensor market can be hampered by technological drawbacks of certain sensor technologies. The hall effect sensor, for instance, is not capable of measuring the current flow at a distance greater than 10cm. Accuracy is another concern with hall effect technology as they can be affected by external magnetic fields, which can be generated by multiple sources such as power lines, electric poles, and others.
Browse key industry insights spread across 400 pages with 977 market data tables & 25 figures & charts from the report, “Magnetic Sensors Market” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/magnetic-sensor-market
Glimpse of Table of Content (ToC)
Chapter 4. Magnetic Sensor Market, By Technology (Revenue, Shipment)
4.1. Key trends in magnetic sensor Industry, by technology
4.2.1. Market estimates and forecast, 2015 – 2025
4.3.1. Market estimates and forecast, 2015 – 2025
4.4.1. Market estimates and forecast, 2015 – 2025
4.5.1. Market estimates and forecast, 2015 – 2025
4.6.1. Market estimates and forecast, 2015 – 2025
Chapter 5. Magnetic Sensor Market, By Application (Revenue, Shipment)
5.1. Key trends in magnetic sensor market, by application
5.2. Speed sensing
5.2.1. Market estimates and forecast, 2015 – 2025
5.3. Position sensing
5.3.1. Market estimates and forecast, 2015 – 2025
5.4.1. Market estimates and forecast, 2015 – 2025
5.5. Navigation & Electronic Compass
5.5.1. Market estimates and forecast, 2015 – 2025
5.6.1. Market estimates and forecast, 2015 – 2025
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/magnetic-sensor-market
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