Magnetic sensor market trends are likely to depict substantial expansion over the forecast period, owing to increasing emphasis on automobile safety. Stringent laws necessitating the integration of magnetic sensors in automobiles, as well as implementation of navigation systems in numerous applications including transportation & delivery services, gaming consoles, smartphones, tablets, etc., will also augment the industry outlook.
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.
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The GMR technology-based sensors provide features such as larger working distances, up to 360? range, and precise angular measurements, improving the vehicle performance and monitoring. The growth of electric and autonomous vehicles is expected to further influence the industry growth as these vehicles will be implemented with a number of electronic systems for accurate and safer driving.
The consumer electronics industry has grown over the years with growing demand due to the increasing disposable income of people in developing nations. Substantial integration of navigation systems in multiple devices including smartphones, tablets, and smartwatches, among others is propelling the growth of the magnetic sensor market. The demand for higher accuracy is increasing the adoption of magnetic sensor-based navigation systems. The industrial applications will also provide a high growth potential in areas such as speed sensing and position sensing.
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.
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. Global Market Insights, Inc., estimates the magnetic sensor market size to surpass $3.5 billion by 2025.
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Some of the major players in the magnetic sensor market are Allegro Microsystems, Analog Devices, Asahi Kasei Microdevices, Infineon Technologies, Texas Instruments Inc., TE Connectivity Corporation, STMicroelectronics, Magnetic Sensors Corporation, Honeywell International, NXP Semiconductors, and Memsic. The industry is well fragmented, and companies are focusing on new product developments to increase the market share.
Some Points From Table Of Content: –
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
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