Press release
Attractive Market Opportunities in the 3D Magnetic Sensor Market by 2025
The semiconductor industry has facilitated the production of huge quantity of cost-effective sensors for high valued applications including industrial motors, automobile segment, and low-cost consumer electronics segment. 3D magnetic sensors are designed to achieve three dimensional sensing with a low power consumption with a capability of measuring 3D linear and rotational movement. It includes a small 6-pin package and contactless position sensing which results into increased communication speed and temperature stability and bidirectional communication between the microcontroller and sensor. An integrated wake-up function in a 3D magnetic sensor helps to lower the system power consumption.
3D sensors provide various advantages such as high-performance and low implementation and maintenance cost. They are used in extensive range of automotive, consumer electronics, and industrial applications including indicators, gearsticks, joysticks, e-meters and control knobs.
3D Magnetic Sensor Market: Drivers and Restraints
Factors such as increasing their manufacturing capability of sensors and continuous demand by the automobile industry are the primary factors driving the growth of 3D magnetic sensor market. Moreover, increasing usage of 3D magnetic sensors in gaming peripherals is also resulting into the growth of 3D magnetic sensor market.
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However, high initial investment is a factor causing a hindrance in the growth of 3D magnetic sensor market.
3D Magnetic Sensor Market: Segmentation
3D magnetic sensor market can be segmented on the basis of type, application and region wise. On the basis of type the market is further segmented into rotary and linear 3D magnetic sensors. On the basis of application the market is further segmented into automotive, consumer electronics, industrial and others. Region wise, 3D magnetic sensor market can be segmented into North America, Latin America, Asia Pacific, Japan, Eastern Europe, Western Europe and Middle East & Africa.
3D Magnetic Sensor Market: Regional Overview
North America 3D magnetic sensor market holds the largest market share and is expected to dominate the market in the near future owing to industrial robot automation and the presence of several large automobile companies in this region followed by Europe. Asia Pacific contributes a significant market share in 3D magnetic sensor market due presence of semiconductor manufacturers in this region. Latin America and MEA region are expected to show a moderate growth rate in 3D magnetic sensor market driven by the automobile industry.
3D Magnetic Sensor Market: Key Players
Allegro MicroSystems, Infineon Technologies, NXP Semiconductors, STMicroelectronics, Analog Devices, Asahi Kasei, Bosch, Honeywell International, Micronas Semiconductor are some of the key players in 3D magnetic sensor market.
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