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Giant Magnetoresistive (GMR) Sensor Market

07-09-2018 11:40 AM CET | IT, New Media & Software

Press release from: Transparency Market Research

Giant magnetoresistance (GMR) is primarily a quantum mechanical magnetoresistance effect which is detected in the multilayers composed of alternating non-magnetic as well as ferromagnetic conductive layers. Giant magnetoresistive sensors are employed for speed, position and angle sensing. Major application area of giant magnetoresistive sensor includes consumer electronics, aerospace and defense among others. Moreover, microelectronics and biotechnology is also some of the prime application area of giant magnetoresistive sensors. The giant magnetoresistive sensor market has been segmented into by application which includes consumer electronics, automotive, healthcare, aerospace & defense, biotechnology, industrial among others. The market for giant magnetoresistive sensor has been segmented geographically into Asia Pacific, Europe, North America, South America and Middle East and Africa.

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Increasing demand and application of MEMS focused sensors are acting as one of the drivers for the giant magnetoresistive sensor market globally. Application of giant magnetoresistive sensors for sensing magnetic field and electrical currents in industrial sector is one of the major driving factors for the market globally. Moreover, Giant magnetoresistive sensors are primarily implemented in Lab-on-a-Chip devices in order to identify and detect magnetic nanoparticles that are applied as tags for different biomolecules. Rising application of GMR sensors across automotive sector is another major driving factor for the market worldwide. Increasing proliferation of advanced smart electronic gadgets in developed as well as developing nations is also fueling the growth of giant magnetoresistive sensors globally. Growing application of different sort of sensors in high end medical devices is boosting the market across globally. Steering angle measurement along with crank shaft position and speed sensing are some of the key application areas of giant magnetoresistive sensors in automotive sector. Furthermore, giant magnetoresistive sensors have widespread applications in aerospace, power systems, biomedical field and modern transport systems. Increasing research activities in the field of magnetoresistive sensors have impacted the market for giant magnetoresistive sensors positively. Design complexities along with increasing demand for low cost solutions are some of the restraining factor which may inhibit the growth of the giant magnetoresistive sensors globally. Increasing application of giant magnetoresistive sensors in high end medical devices and research laboratory equipment are some of the opportunities for the market.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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